UV-Absorbing Chemicals for Cosmetics Market to Reach US$ 1.1 Billion by 2034: R&D in Sustainable Products Drives Growth and Promotes Organic Alternatives | Exclusive Research Report by TMR

The global market statistics for UV-absorbing compounds used in cosmetics are rising due to an increased emphasis on skincare. UV absorbers serve the purpose of absorbing UV radiation. They aid in protecting from UV radiation that may weaken or harm different cosmetic items.

WILMINGTON, Del., Aug. 1, 2024 /PRNewswire/ -- The UV-absorbing chemicals for cosmetics market was projected to attain US$ 547 million in 2023. It is likely to garner a 6.2% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 1.1 billion.

UV-absorbing substances shield the skin from UV rays by reflecting or absorbing them. They are used in a variety of cosmetic goods, including over-the-counter sunscreens and other items for personal hygiene.

Sunscreen products are mainly utilized in situations where complete protection is required, such as swimming, snow, and mountainous areas.

Cosmetic compounds having UV shielding qualities include zinc oxide, cinnamates, salicylates, anthranilates, titanium dioxide, and benzophenones.

Lip balms and nail polishes, among other personal care items, include benzophenone to shield them from ultraviolet radiation. In contrast, hair dyes, shampoos, sunscreens, lipsticks, nail paints, and skin lotions frequently contain cinnamates.

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Key Findings of Market Report 

• Customers are becoming more conscious of UV radiation's negative impacts on skin health. Consequently, there is an increased need for innovative combinations that make use of UV-absorbing substances.
• Customers are using sunscreens and creams more frequently because they want to make sure they are adequately protected from the damaging effects of sun exposure.
• According to LOOKFANTASTIC, a U.K.-based beauty store, searches for "SPF" increased by over 338% between 2013 and 2023. Skincare accounts for over 43% of personal care spending.
• Furthermore, the emergence of social media has made it easier for regular people to obtain information about skincare products, which is anticipated to accelerate the expansion of the UV-absorbing chemicals market for cosmetics in the near future. Through social media, individuals may learn firsthand how important it is to preserve their skin and use SPF.

Market Trends For UV-absorbing Chemicals for Cosmetics

• Research and development of eco-friendly goods is driving the growth of UV-absorbing compounds used in cosmetics. The majority of UV absorbers have been shown to have detrimental effects on aquatic life, including coral bleaching. As a result, there is a great need for sunscreen chemicals generated organically.
• Tsuno Group Co., Ltd. announced in January 2024 that they had created a new sunscreen product that included ferulic acid, a rare natural UV absorber produced from plants.
• Tsuno Group collaborated with Matsumoto Trading, a manufacturer of cosmetic components, to create a cutting-edge technique that uses a solid stick formulation with a high concentration of ferulic acid. Growing worries about the sustainability of the environment will probably increase demand for natural sunscreen components.

Global Market for UV-absorbing Chemicals for Cosmetics Report Scope:

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Global Market for UV-absorbing Chemicals for Cosmetics: Regional Outlook

Various reasons propel the UV-absorbing chemicals for cosmetics market growth throughout the regions. These are: 

• Asia Pacific held the greatest share in 2023, according to the most recent trends in the market for UV-absorbing compounds used in cosmetics. An increase in spending on personal hygiene goods is improving the region's market dynamics.
• Asia-Pacific appears to be one of the fastest-growing markets for high-end skincare products. The personal care industry in India is being driven by a rise in last-mile consumer access in tier 2 and tier 3 cities as well as a surge in e-commerce adoption.
• The market share of UV-absorbing compounds in cosmetics is increasing in North America due to an increase in skin cancer incidence. In the United States, one in five people will eventually have skin cancer. An estimated 5.4 million cases of basal and squamous cell skin cancer are identified in the nation.

UV-absorbing Chemicals for Cosmetics Market: Key Players

Key companies in the UV-absorbing chemical cosmetics market provide compounds with strong UVA protection. Additionally, they are creating goods that mix well with the majority of chemicals used in cosmetics and are soluble in water.

The following companies are well-known participants in the UV-absorbing chemicals for cosmetics market:

• BASF SE
• SONGWON
• Clariant AG
• Solvay S.A.
• ADEKA Corporation
• Addivant
• Milliken Chemical
• Everlight Chemical Industrial Co.

Key Developments

• A number of sunscreen compounds with high SPF and efficient UVA protection were introduced by Croda in 2023. Utilizing Solaveil Clarus technology, which produces a precisely regulated particle size distribution, these substances were created. Solaveil CT-60W is a water-based dispersion of titanium dioxide (TiO2) that provides high SPF claims while maintaining skin purity. Additionally, Croda introduced Solaveil CT-300, a hydrophobic titanium dioxide dispersion in a naturally produced carrier oil that offers a high SPF efficaciousness and genuine transparency on the skin.
• The Songnox 9228 antioxidant and the Songsorb 1164 UV absorber, which are polymer additives appropriate for packaging, agricultural, and home and personal care applications, were introduced by Songwon at K 2022 in 2022.

Global UV-absorbing Chemicals for Cosmetics Market Segmentation 

By Product Type

• Benzophenones
• Cinnamates
• Salicylates
• Anthranilates
• Titanium Dioxide
• Zinc Oxide
• Others

By Protection Type

• UVA Protection
• UVB Protection
• UVA+UVB Protection

 By Application

• Sun Care
• Skin Care
• Color Cosmetics
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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