Oxybenzone Market Worldwide Prospects, Share, Crucial Players, Size, Competitive Breakdown and Regional Forecast 2020 to 2030

Oxybenzone belongs to the category of aromatic ketones known as benzophenones. Oxybenzone is a chemical naturally present in some flowering plants, but it is produced commercially from benzoyl chloride and 3-hydroxyanisole (1, 2). Oxybenzone is a derivative of benzophenone, which is used as a sunscreen agent due to its ability to absorb UVB and short-wave UVA Ultraviolet rays, acting as a filter and minimize skin damage caused by UV ray

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Oxybenzone Market: Key Players
Being a moderately consolidated market, players have a dominant presence across regions through streamlined distribution networks. ATK Chemical, Hubei Meikai Chemical, Ash Longchem, Dallion Richfortune Chemicals, Kunshan Odowell, Wellona Pharma, Salicylates And Chemicals, Salavidas Pharmaceutical etc. are amongst the prominent players in Oxybenzone market accounting for over 60% of the market revenues.

Furthermore, certain players are investing in research and development activities related to the changing consumer demand towards organic and plant based Oxybenzone products. Manufacturing and establishing long term supply contracts with the industries and are providing an upper edge to the market players.

However, regional clusters in the Asia-Pacific region backing the local manufacturers are presenting challenges to global players offering their products at higher price points which in turn is significantly disturbing the overall Oxybenzone market revenues.

Oxybenzone Market: Regional Outlook
Based on the regional split, six major regions, including North America, Europe, Latin America, East Asia, South Asia and Oceania and the Middle East & Africa, are taken into account in the 'Oxybenzone Market' study. In the global Oxybenzone market, Asia Pacific holds a small share, however, it is estimated to be the fastest-growing market in the coming years.

In developing countries such as India, Malaysia, Indonesia and Thailand, the main reason for this is increased health awareness and the rising demand for Oxybenzone in cosmetics. Moreover, China holds dominance in the supply and manufacturing of Oxybenzone but the end consumer industry mostly is present in developed countries.

Besides, the increased demand for cosmetics from the middle-class population, which is rising at a substantial pace in developing countries, ultimately contributes to a rise in the requirement of Oxybenzone based cosmetic products. In terms of consumption, North America had the largest share of the global demand for Oxybenzone. Europe is also following North America in terms of end-consumption and is expected to grow moderately over the assessment period (2020 -2030).

However, there has been certain studies in the recent times linking Oxybenzone to the coral bleaching, which though is debatable in nature has formed the basis of certain governments passing laws to prohibit the sale of Oxybenzone containing products, to preserve coral reefs.

For instance, a study published in in 2015 in Archives of Environmental Contamination and Toxicology linking Oxybenzone to coral damage led to banning Oxybenzone containing products in Palau, and this ban was supposed to come into effect in 2020. Similarly, Hawaii State Legislature passed a bill prohibiting the sale of non-prescribed sunscreen which has Oxybenzone and other chemicals linked with damaging coral reefs, and is supposed to come into effect from 1st January, 2021.

Similar ban on sale of sunscreen that contain Oxybenzone and octinoxate was implemented via a legislation in Key West. However, this was suspended by Florida state legislature by Senate bil 172. Also, Florida voted against a ban of Oxybenzone related products, by mentioning the benefits of Oxybenzone in cosmetics and arguing that there is not enough scientific evidence supporting the ban.

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Segmentation Analysis of Oxybenzone
The global Oxybenzone market is bifurcated into three major segments:

Based on End Use, Oxybenzone market has been segmented as follows:

Sunscreen
Lip Balms
Hair Spray
Conditioner
Moisturizers
Based on Source, Oxybenzone market has been segmented as follows:

Organic
Inorganic
Based on Function, Oxybenzone market has been segmented as follows:

UV Filter
UV Stabilizer
Based on Region, Oxybenzone market has been segmented as follows:

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East and Africa
The report answers important questions which include:

Why is player leading the in region?
Which factors pose a negative impact on the growth?
What was the value registered in 2018?
What challenges do the players face during R&D stages?
Which countries contribute a significant share to the total revenue in region?
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