Rockville, MD , Oct. 22, 2024 (GLOBE NEWSWIRE) -- The UV Booster Market is expected to grow from US$ 127.6 million in 2024 to US$ 211.8 million in 2034. Fact. MR’s extensive study shows that the market will expand at a growth rate of 5.2% from 2024 to 2034.
The UV Booster market develops in the cosmetic industry under high awareness of the consumer about sun protection and skincare. There is a growing demand for products that can perform well on the side of protection against UV rays while boasting other benefits-such as moisturizing, anti-aging, and anti-inflammatory effects. The UV Booster market is increasingly attributed to popular skincare and hair care with potential benefits related to sun protection and anti-aging. Natural and organic products are in great demand due to a developing desire among consumers for alternatives to traditionally available chemical-based products.
The Benzotriazole segment is anticipated to grow at the highest rate owing to its increasing demand in lipsticks and lip balms. The Lipsticks & Lip Balms segment will see the highest CAGR, due to the fact that this ingredient will be increasingly used for popular cosmetic products. Overall, with more awareness amongst consumers about the benefits accruing from sun and skin care, the UV Booster market is expected to continue growing rapidly. Key players in the market are focusing on innovative product development, offering UV protection along with other benefits like moisturizing, anti-aging, and anti-inflammatory benefits.
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Key Takeaways from Market Study:
- Global UV Booster market will grow at a CAGR of 5.2%, reaching US$ 211.8 million by the end of 2034.
- North America will expand at a CAGR of 5.6% from 2024 to 2034, capturing 21.6% of the market share in 2024 and offering an absolute opportunity of US$ 15.5 million.
- East Asia will account for 30.2% of market share in 2024, generating an absolute dollar opportunity of US$ 27.0 million between 2024 and 2034.
- Between 2024 and 2034, the benzophenone by product classification is expected to produce an absolute dollar opportunity US$ 33.2 million.
- With a 53.9% market share, the UV Booster skin care cosmetics product type is estimated to be worth US$ 68.8 million in 2024.
"UV Booster market, where analysis highlight trends, growth drivers, and opportunities cosmetics companies can leverage in this emerging trend” says a Fact.MR analyst.
Market Development:
Key companies like Allnex, Perma Chink Systems Inc., BASF SE, Clariant AG, Solvay SA, Huntsman Corporation, Milliken Chemical, Spectrum Chemical, Adeka Corporation, Croda International PLC. are propelling the market growth.
As these important companies took advantage of a variety of primary strategies to improve their position in the electronic chemicals and materials market, they released new products, acquired companies, expanded, and made deals. As an instance-
- In April 2023, Allnex reached a milestone when it mechanically completed the new manufacturing hub in Jiaxing, China - another critical step forward in its strategic expansion into greener resins. Operations are expected to start in phases during the second half of 2023.
- In October 2022, Clariant introduced AddWorks® AGC 970, a novel light stabilizer for agricultural polyethylene films to improve resistance to UV exposure and agrochemicals with innovation spirit in agricultural fields.
- In April 2022, Allnex launched a new UV Booster product under the name of Allnex UV-101, which is used in hair care and skin care.
- In March 2022, Perma Chink Systems Inc. announced a new line of UV-stable water-repellent coatings for furniture and equipment used outdoors.
- In May 2022, BASF SE acquired the company Perstorp's UV Booster business, this widened its product portfolio within the cosmetic and personal care industry.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global UV Booster Market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on product (benzamidine, benzophenone, triazine, benzotriazole, others), application (skin care cosmetics, hair care cosmetics, make-up cosmetics) and across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
Segmentation of UV Booster Market:
- By Product :
- Benzamidine
- Benzophenone
- Triazine
- Benzotriazole
- Others
- By Application :
- Skin Care Cosmetics
- Hair Care Cosmetics
- Make-up Cosmetics
- Lipsticks & Lip Balms
- Foundation
- Others (Concealers, etc.)
- By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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