Homosalate Market Growth Report Includes Dynamics, Regional Revenue Forecast, Products, and Application

Homosalate Market Growth Synopsis

Homosalate Market is expected to grow USD 197.6 million at a CAGR of 6.3% during the forecast 2022–2030.

The surging demand for homosalate in the cosmetics industry primarily drives the global homosalate Market Growth Analysis. The expansion of the homosalate market is anticipated to be the rise in cosmetics, which is attributable to the rising need for skincare products.

The pharmaceutical industry sector mainly drives the Homosalate Market Growth as it exhibits exotic and unique properties, such as UV rays protection, compared with traditional composites found in nature. Asia-Pacific is likely to dominate the global Homosalate market.

Competitive Landscape

The key players in the global market have large production bases and advanced manufacturing facilities at the domestic and international levels. This helps them supply the product to various end users across the globe within lesser time than the small-scale manufacturers, providing a competitive edge in the global market. Prominent players account for most of the global market share due to their global revenue base, advanced production technologies, brand identity, vast industry experience, integrated production facilities, available raw materials at competitive prices, and wide distribution network. Furthermore, these players compete globally and strive to achieve a strong position in the market. Spectrum Chemical Manufacturing Corporation, Hongda Group, Yue Yang Dong Run Chemical, Ampak Company, ATK Chemical, and Natural micron chem tech are the major shareholders in the global Homosalate market.

Segmentation

By Purity

  • Less than 98%: The less than 98% purity homosalates are clear, colourless to pale yellow liquid, with a molecular weight of 344 g/mol. Homosalate is widely used in a standard sunscreen formulation.
  • More than 98%: More than 98% of homosalates are used in pharmaceuticals. In the formulation of standard body lotion, soaps, anti-ageing creams, acne creams, hair dye, and shampoo.

By Application

  • Cosmetics: Homosalate is an ingredient used in the formulation of sunscreen products. It is also used in some eyebrow pencils, skincare, and lipsticks.Homosalate is used mainly as a sunscreen ingredient, protecting the skin against UV rays. Sun damage from UV rays contributes to the risk of skin cancers such as melanoma and premature ageing.
  • Pharmaceuticals: Homosalate is used to manufacture insecticides, hypnotic drugs, and other pharmaceuticals. Homosalate is used as a standard body lotion, soap, anti-aging cream, acne cream, hair dye, and shampoo.
  • Others: The other segment dominated the global market during the forecast period due to high demand from various industries such as paints & coatings, plastics, printing inks, and paper. It is used for its stability & compatibility properties. Homosalate-based products are also widely utilized for their UV filter property which helps prevent eye damage caused due to Ultraviolet (UV) rays.

Access Full Report Details @ https://www.marketresearchfuture.com/reports/homosalate-market-11045

By Region:

  • North America: North America is expected to dominate the homosalate market with a high growth rate over the forecast period, driven by increased demand from the cosmetics industry.
  • Latin America: Latin America is expected to show healthy growth with pharmaceutical advancement.
  • Europe: The homosalate market is predicted to increase steadily in Europe due to the expansion of the pharmaceutical and rising demand for skincare products.
  • Asia-Pacific: Asia-Pacific is expected to have a high demand for homosalate due to the growing pharmaceutical industry driven by drug advancement. Additionally, it is anticipated that the Asia-Pacific region’s homosalate market will grow as more countries, like China and India, increase their investments in developing and bolstering their cosmetics and pharmaceutical industry.
  • The Middle East & Africa: The Middle East & Africa is expected to show sustainable growth in the homosalate market.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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