Homosalate is a type of organic compound that belongs to the salicylates class of chemicals which prevents direct skin exposure to the sun’s harmful rays by absorbing ultraviolet (UV) light, explicitly absorbing short-wave UVB and UVA rays, which are associated with DNA damage and increased risk of skin cancer. According to BlueQuark Research & Consulting, the global Homosalate market is expected to witness a significant growth rate during the forecasted period. Factors like the growing use of Homosalate in the production of sunscreens and other protective coatings to block UV rays are expected to drive the global Homosalate Market. Further, the growing use of Homosalate in the cosmetics industry is projected to drive the global market. Furthermore, the use of Homosalate in the production of skin-friendly pharmaceuticals and UV rays restricting skincare products is expected to drive the global Homosalate market. However, factors like Stringent Government Regulations, health concerns relating to the use of Homosalate, and the easy availability of substitutes and alternatives are expected to hinder the Global Market Growth.
Homosalate is used as a standard sunscreen, body lotions, soaps, anti-aging creams, acne creams, makeup foundation, hair dye, shampoo, lip balm, and it is also used in the manufacture of insecticides, hypnotic drugs, and other pharmaceuticals.
The Personal Care industry is the biggest consumer of Homosalate, producing the most demand for the chemical and is expected to drive the global market. Homosalate is a common chemical ingredient found in some brands of sunscreen and lip balm that completely blocks UV-B rays from the sun to protect the skin against harmful radiation. It is formed by the Fischer–Speier esterification of salicylic acid with 3, 3, 5-trimethylcyclolohexanol, with the salicylic acid part of Homosalate, absorbing ultraviolet rays within the range of 295 nm to 315 nm and protecting the skin against sun damage. The trimethyl cyclohexane functional group is hydrophobic, which provides a greasiness effect and prevents it from dissolving in water, making Homosalate degrade more quickly (loses 10 percent SPF protection in 45 minutes) when exposed to higher UV light. Primary demand from the millennial generation has been seen in the prevalence of sun care creams with anti-aging and SPF benefits, which has accelerated the growth of the sunscreen industry and, in turn leading to the development of the Homosalate market. Leading Consumer Goods Company,The Edgewell Personal Care Company, posted net sales of USD 573.7 Million and an 18.6% year-on-year increase showing the growth in the market. Increasing global temperatures and booming population have increased the need for sunscreens by the consumers and the need for coatings that prevent UV radiations from causing any harm to the goods on which the coatings are applied. All the factors add up to the increased need and demand for Homosalate in the market.
Some of the market's key players areSpectrum Chemical Manufacturing Corporation,Hongda Group Company Ltd.,Everlight Chemical Industrial Corp.,MFCI Co. Ltd.,Yue Yang Dong Run Chemical(CN), among others.
Asia-Pacific region is expected to be the leader in the production and consumption of Homosalate, with most of the consumption in countries like China and India. The demand for personal care products, cosmetics, and pharmaceuticals is enormous in the region since more than half of the world’s population lives there. The continuous and rapid growth in the industries such as skincare and cosmetics care in the Asia-Pacific region is expected to drive the demand for Homosalate in the production of various consumer products. Moreover, the use of Homosalate as a critical sunscreen manufacturing component is expected to drive sales in the region since the growing population demands more sunscreen. Growing demand from the Asia-Pacific region for better products in the personal care, cosmetics, and pharmaceutical industries has made Homosalate an essential material for the region's growth. Factors like these have made Asia-Pacific an essential region for growth in the Homosalate market. Thus adding to the growing demand for Homosalate in the Asia-Pacific Region.
In October 2019,SC Johnsoninvested in the Sunscreens business of Coola.
Global Homosalate Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Homosalate market by segmenting based on the Purity (Less than 98%, 98%-99%, More than 99%), Application (Cosmetic, Pharmaceuticals, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.