Octocrylene Market Explorer Growth Trends, Analysis and Forecast To 2030| Frutarom Ltd, Abbott, Becton Dickinson, Fujirebio, Hologic, Exact Sciences

Octocrylene Market: Overview and Dynamics

Octocrylene is an organic compound used in sunscreens and cosmetics as an ingredient. It is an ester that is formed by the chemical reaction of 3, 3-diphenylcyanoacrylate with 2-ethylhexanol. Octocrylene is a viscous, colorless, sticky, clear liquid. It serves as a protective compound against UV radiation in the skin and it also protects against direct damage to DNA. Sun-emitted UV radiation can be neutralized and skin damage caused by longer sun exposures can be mitigated by the application of sunscreens with Octocrylene as ingredient.

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COVID-19 Impact Insights of Octocrylene Market

COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe, flattening the global economic curve. This in result has disrupted almost every market and Octocrylene market has also been affected largely. Personal care and cosmetics sector was badly hit but the market would witness a V-shaped Rebound in the coming years. Usage of mask and gloves had impacted this industry as a result demand for these products declined a lot.

The market is expected to regain its growth once the things get back to normal. Strict lockdown measures taken by countries in the North-America and Europe region would impact this market at large as this region accounts for more than 40% of the global demand. However, these lockdowns were not properly implemented in many countries leading to a spike in the overall active cases in the region. It is almost a year since the first strain of COVID-19 was detected and now there are news stating that, the COVID-19 strain is mutating.

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Segmentation Analysis of Octocrylene Market

The global Octocrylene Market is bifurcated into four major segments: application type, purity, end use, and region.

On the basis of application type, Octocrylene market has been segmented as follows:

Moisturizers
Sun care
Cosmetic products
Others
On the basis of purity, Octocrylene market has been segmented as follows:

95%
98%
99%
On the basis of end use, Octocrylene Market has been segmented as follows:

Personal Care
Pharmaceuticals
Others
On the basis of geographic regions, Octocrylene Market is segmented as

North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa

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Octocrylene Market: Key Players

Octocrylene market seems to be a highly consolidated market. Big players in the market account for more than 60% of the overall market demand. The major market players in Octocrylene Market are Frutarom Ltd, Abbott, Becton Dickinson, Fujirebio, Hologic, Exact Sciences, ID Biomedical, Himalaya, Novacap.

Companies are following organic strategies like expansion, companies are moving to developed countries by setting up their plants. Companies expect that they will be able to leverage the bigger population, growing middle class and increased health awareness among the younger generation in developing countries.

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