Avobenzone (CAS 70356-09-1) Market Outlook: Industry Overview and Forecast (2024 to 2031)

Executive Summary

Avobenzone (CAS 70356-09-1) is a widely used organic compound commonly found in sunscreen products as a UVA filter. The global Avobenzone market research reports indicate a growing demand for sunscreen products due to increasing awareness about the harmful effects of UV radiation on the skin. The market is expected to grow at a CAGR of 13% during the forecast period.

Market trends in the Avobenzone market include a focus on developing innovative formulations with enhanced photostability and broad-spectrum UV protection. Manufacturers are also expanding their product portfolios to cater to different consumer preferences, such as water-resistant and organic sunscreen options. Additionally, the rising trend of using multifunctional products that offer anti-aging and moisturizing benefits along with sun protection is driving market growth.

In terms of geographical spread, the Avobenzone market is segmented into North America, Asia-Pacific, Europe, the USA, and China. The North American region, particularly the United States, is a key market for Avobenzone due to stringent regulations on sunscreen formulations and a high prevalence of skin cancer. The Asia-Pacific region is also witnessing significant growth in the Avobenzone market, driven by a growing population, increasing disposable income, and changing lifestyle trends. Europe is another lucrative market for Avobenzone, with a growing inclination towards natural and organic skincare products.

Overall, the Avobenzone market is poised for steady growth in the coming years, fueled by increasing awareness about sun protection and skincare, as well as the development of advanced formulations and product innovations. The market is expected to witness robust growth in key regions such as North America, Asia-Pacific, Europe, the USA, and China.

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Market Segmentation:

This Avobenzone (CAS 70356-09-1) Market is further classified into Overview, Deployment, Application, and Region. 

In terms of Components, Avobenzone (CAS 70356-09-1) Market is segmented into:

• Symrise
• Nanjing COSMOS Chemical
• Hubei Hongjing Chemical
• Nanjing CHICO Pharmaceutical
• Changzhou Josen Pharmaceutical
• Wuhan BJM Pharm

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The Avobenzone (CAS 70356-09-1) Market Analysis by types is segmented into:

• Purity(Less than 98%)
• Purity(98%-99%)
• Purity(More than 99%)

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The Avobenzone (CAS 70356-09-1) Market Industry Research by Application is segmented into:

• Sunscreen
• Sunscreen Lotion
• Others

In terms of Region, the Avobenzone (CAS 70356-09-1) Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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Key Drivers and Barriers in the Avobenzone (CAS 70356-09-1) Market

Key drivers in the Avobenzone market include the increasing demand for effective sunscreens due to rising awareness about skin protection, growing disposable income leading to higher spending on personal care products, and advancements in technology leading to improved formulations. Barriers to the market growth include stringent regulations regarding the usage of chemicals in cosmetics, potential skin irritation caused by Avobenzone, and the presence of alternative ingredients in sunscreens. Challenges faced in the market include increasing competition from natural and organic sunscreen alternatives, concerns regarding the environmental impact of Avobenzone, and the need for continuous innovation to meet evolving consumer preferences.

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Competitive Landscape

Avobenzone is a key ingredient in sunscreen and sun protection products. Some of the competitive market players in the Avobenzone market include Symrise, Nanjing COSMOS Chemical, Hubei Hongjing Chemical, Nanjing CHICO Pharmaceutical, Changzhou Josen Pharmaceutical, and Wuhan BJM Pharm.

Symrise is a global supplier of fragrances, flavors, cosmetic ingredients, and aroma molecules. The company has a strong presence in the Avobenzone market due to its high-quality products and innovative solutions. Over the years, Symrise has shown significant growth in the market, catering to the rising demand for sunscreen products worldwide.

Nanjing COSMOS Chemical is another key player in the Avobenzone market, specializing in the production of specialty chemicals for various industries. The company has successfully established a strong foothold in the market, offering a wide range of Avobenzone products to meet customer requirements.

Hubei Hongjing Chemical is a leading supplier of high-quality chemicals, including Avobenzone, to the global market. The company has witnessed substantial growth in recent years, expanding its market presence and customer base.

In terms of sales revenue, Symrise reported sales of over $ billion in 2020, showcasing its strong financial performance and market position. Nanjing COSMOS Chemical, on the other hand, recorded sales revenue of around $500 million in the same year, highlighting its significant contributions to the Avobenzone market.

Overall, these competitive market players have played a crucial role in driving the growth of the Avobenzone market, offering innovative products and solutions to meet the increasing demand for sun protection products.

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