TMR Analyzes Impact of Outbreak of COVID-19 on Avobenzone Market

Avobenzone is an oil-soluble non-toxic chemical that can absorb light across the spectrum. It is a sunscreen that works by absorbing light unlike another sunscreen that emits light, it absorbs light and convert them into energy that is less harmful to the skin, it is one among the rare sunscreens that absorbs both- UVA (it consists of 95% of UV rays that reach earth) and UVB rays (it consists of 5%UV rays that reach earth). UVA rays are responsible for premature aging and skin cancers. Avobenzone is the best alternative for inorganic sunscreens such as- zinc oxide and titanium oxide. Avobenzone is there in the market from a very time but its application was focused over sunscreen industry only owing to its sunlight blocking formulae which made the industrialists curious about the other hidden benefits of Avobenzone due to which they are spending their hard-earned chunks in avobenzone R&D in order find its new benefits and also to reduce the apparent side-effects that avobenzone causes, and are trying to make it long-lasting so, that it should no longer be reapplied after every two-three hours.

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Increasing Demand for Avobenzone Owing to its Sun Blocking Specialty among the Demographics

According to the Agency of Health care, Research and Policy in 2014 about 5 million people in the U.S. are suffering from different types of skin cancer and are spending about $8.1 billion in their treatment annually. This data helps us to depict very well that avobenzone has a potential market in North America and the Europe region. Avobenzone also has a considerable market in the Asia-Pacific region as, it falls almost in the equatorial region where the UV rays of the sun are very sharp, hurting and results in a lot of tanning and hence the need of avobenzone will increase which will indirectly increase avobenzone market here.

Global Avobenzone: Market Segmentation

On the basis of application, the global avobenzone market has been segmented as-

Pharmaceuticals
Cosmetics and Personal Care
Lotion
Cream
Spray
Lip balm

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Global Avobenzone: Key Players

The global avobenzone market is increasing because of its special characteristics of protecting the skin from both types of UV rays its unique way of protecting the skin with a non-toxic nature has helped to attract consumers of all age groups as well the ones which are deeply concerned about their beauty. Some of the global key manufacturers and suppliers of avobenzone are- Promois International Santiago, Making Cosmetics Inc., Zhonglan Industry Co., Ltd., NS Chemicals, Merck KGaA, CHEMSPEC CHEMICAL PVT. LTD., Hangzhou Weckchem Co., Ltd, Xiamen Aeco Chemical Industrial Co, Selleck Chemicals, and Anshul Life Sciences. Except them, more industrialists and manufacturers are showing a keen interest in the avobenzone market as the demand plus the need for protecting the skin from harmful rays has increased owing to the increasing percentage of people suffering from skin cancer.

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Opportunities for Market Participants:

Avobenzone is trending globally because of its speci8al feature of protecting the skin from UVA (UVA1, UVB2) and UVB rays. The rays that are responsible for causing skin-cancer, early aging of the skin, cataract and other eye problems, problems with immune systems, and actinic keratosis growth that is- a growth in the skin caused by the sun. It also fulfills the trend by being GMO-free, and vegan with no animal-based products in its which further attracts the people by making them, believe that the product is safe for their skin. Also, avobenzone can be used as a stabilizer. It also acts as a preservative in the cosmetics to help them increase their shelf-life thus improving the quality of the cream. The application off avobenzone in the cosmetic industry has helped capture both types of consumers first those who are attracted towards it to protect the fairness and glow of their skin goes away with then interaction of skin with the sun, second those who want to protect themselves from all types of skin cancers and other serious diseases.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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