Press release
Stressing On R&D Efforts To Amplify Homosalate Market Growth By 2032
The trimethyl cyclohexane functional group is hydrophobic in nature, which provides greasiness effect and prevents it from dissolving in water. Homosalate degrades quickly (loses 10 percent SPF protection in 45 minutes) when exposed to higher UV light which makes it comparatively less effective by itself. However, being a liquid, it is used to dissolve other sunscreen agents that are hard to solubilize, such as the renowned Avobenzone.
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Segmentation Analysis of Homosalate Market
The global Homosalate market is classified majorly into three segments: by function, application and region.
On the basis of function, Homosalate market has been segmented as follows:
Skin Conditioning
UV absorber
UV filter
On the basis of application, Homosalate market has been segmented as follows:
Sport and beach sunscreen
Moisturizer
Makeup primer
Lip balm
Hair treatment /serum
Fragrance body spray
On the basis of region, Homosalate market has been segmented as follows:
North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa
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Homosalate Market: Key Players
The market for Homosalate is moderately fragmented as local manufacturers are satisfying the regional demand with a majority as compared to key players. The prominent players in Homosalate market are Spectrumchemical, Ampak, ATK Chemicals, ZX Chem, Universal Ester and Ascent FineChem, contributing about 40% to total Homosalate market share.
Key players in the beauty and skincare market are collaborating with vendor manufacturers of Homosalate to have a streamlined supply chain. These companies are also pushing for innovation and discoveries having limited or zero side effects in response to climbing demand for skin-care products to gain organic growth and maintain a competitive advantage over others.
Chemical-based skincare products are coming to limelight because of their adverse effect on the skin causing allergies and other skin-related issues which would showcase an unstable market scenario for Homosalate market.
However, certain restriction on cosmetic products containing chemicals which harms the environment (acting as bio-accumulative), negatively effects the balance sheet of these companies as they will have to spend in research and development again so as to verify the above mentioned claims and come up with modified products which removes the restricted ingredient, but retains the effect it had in the product.
Important queries related to the Homosalate Market addressed in the report:
Who are the most prominent players in the Homosalate Market?
What are the factors that are likely to hinder the growth of the Homosalate Market during the forecast period (2021-2031)?
Why is the concentration of tier-1 companies high in specific region?
How are the soaring prices of raw materials impacting the demand for keyword?
Why are market players eyeing opportunities in particular region?
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Homosalate Market: Regional Outlook
Considering the regional classification, the report "Homosalate" provides an explicit study on six prominent regions which include North America, Europe, Latin America, South Asia and Oceania, East Asia and Middle East & Africa.
Among them, majority market share is dominated by Asia especially by China while capturing almost 50% of manufacturing and supply of Homosalate. Increasing demand for skin-care products and makeup products among the growing population of millennials in China and India will be the driving force for Homosalate market.
Secondly, United States and Europe collectively holding about 30% of total Homosalate market share. Increasing global temperature levels and depletion in the ozone layer has made people aware of skin health which has caused the rise in demand for sunscreen and ultimately increasing demand for Homosalate. However, rising concerns about the chemical-based skincare products there could be a potential threat to Homosalate market in the US and Europe.
Besides, Middle East & Africa has minimal market share for Homosalate but it also shows potential to grow high soon with elevating demand for skin-care and beauty products.
However, Homosalate has been placed in Cosmetic Ingredient hotlist by Canada, which consists of list of chemicals restricted for use by manufacturers in their cosmetic offerings. This was done recently in 2020, owing to recent research studies indicating to the health effects related to Homosalate being toxic to some organs and is suspected to be an environmental toxin acting as a bio-accumulative in the food chain, after ending up in oceans.
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