The UV filter market is estimated to reach a market value of US$ 607 Mn in 2020, and is set to create an absolute dollar opportunity of US$ 600 Mn over the forecast period (2020-2030), expanding at a CAGR of around 7% from 2020 to 2030. UV filters are key component in personal care products, and provide SPF functions to these products.
Out of the filter types channelled in the market, organic is set to capture a majority of the market share, owing to these UV filters integration in formulating a majority of products such as creams, gels, lotions, powder, wipes, and sprays.
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However, in the past half-decade, a majority of manufacturers in the UV filter market have started utilizing inorganic filters, which has led to the normalization of prices across regions. This segment is set to grow at rapid pace as compared to organic filters, owing to the opening of utilization titanium dioxide nanoparticles and zinc oxide nanoparticles in formulating a wide range of personal care products, by the European Union.
Key Takeaways from UV Filter Market Study
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“Market leaders are facing the barrier of double marginalization to channel products across North America and Europe,” says a Fact.MR analyst.
Positioning of Manufacturers in East Asia to Support Economies of Density in Long Run
The UV filter market is highly fragmented in nature, with key players such as BASF, Symrise AG, Koninklijke DSM N.V., Ashland, Sunjin Beauty Science Co. Ltd., Croda International PLC, Salicylates and Chemicals Pvt. Ltd., and MFCI CO., LTD operating in this space.
Key firms in Europe and North America have positioned their production of a majority of UV filters in East Asia only to support economies of density, reduce marginal cost of products, and enhance mark-ups in the region.
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More Valuable Insights on UV Filter Market
Fact.MR, in its new offering, presents an unbiased analysis of the global UV filter market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the UV filter market on the basis of type [organic (PABA, salicylates, cinematic, benzophenones, triazine and triazole derivatives, dibenzoyl derivatives, benzimidazole sulfonic acid derivatives, camphor derivatives, anthranilates, polysilicone-15), inorganic (titanium dioxide, zinc oxide)], SPF (SPF 6-14, SPF 15-30, SPF 31-50, SPF 50+), and formulation (creams, gels, lotions, powder, wipes, sprays, others), across six major regions.
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