Homosalate Market Size Research Future Insights

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

The rising demand for homosalate in the cosmetics and pharmaceutical industries mostly drives the Homosalate Market Size. Homosalate is a kind of organic compound that belongs to the salicylates class of chemicals which stops direct skin exposure to the sun’s harmful rays by captivating ultraviolet (UV) light, explicitly absorbing short-wave UVB and UVA rays, which are related to DNA damage and augmented risk of skin cancer.

The homosalate market deteriorated in 2021 due to the COVID-19 epidemic. This deadly virus has adversely affected the globe, especially the North American and European regions. The electronics & telecommunication, and automotive industries have faced very contrary circumstances owing to the pandemic. To avoid the further spread of this virus, companies have closed their operations and manufacturing facilities, and the government limited production activities. This has abridged the consumption of homosalate across all businesses. But currently, there are no limits, and the spread of the virus is also controlled. Therefore, industries are developing and generating healthy competition for the homosalate market.

Key Players

Some of the key market players are Spectrum Chemical Manufacturing Corporation, Hongda Group, Yue Yang Dong Run Chemical, Ampak Company, ATK Chemical, and Natural Micron chem tech

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Regional Analysis

With a robust growth rate during the expected period and mounting demand from the cosmetics industry, North America is projected to head the homosalate market.

The European market for homosalate can grow progressively in the years to come due to the pharmaceutical industry’s stunning expansion and the rising demand for skincare products.

Asia Pacific’s increasing pharmaceutical industry, fueled by medicinal advancements has raised the demand for homosalate.

Market Segmentation

The Global Homosalate Market has been segmented into Purity and application

Based on purity, the global Homosalate Industry Analysis has been segmented into less than 98% and more than 98%. Less than 98% segmented is dominated the market due to transparent liquids that range in color from colorless to pale yellow and have a molecular weight of 344 g/mol. Widespread use of homosalate can be found in typical sunscreen formulas.

Based on application, the global Homosalate market has been segmented into cosmetics, pharmaceuticals, and others. Cosmetics have maximum market capturing due to this component used in sunscreen product composition. Some lipsticks, skin care products, and eyebrow draws also contain them. Homosalate is mainly used as a component in sunscreen to shield the skin from UV radiation. UV-induced sun damage upsurges the risk of skin malignancies including melanoma and premature aging.

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