Octyl Methoxycinnamate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023
- Transparency Market Research
Octyl methoxycinnamate is a chemical sun blocking agent that absorbs ultraviolet radiation in UVB range. Octyl methoxycinnamate is a chemical ingredient found in some brands of sunscreen and lip balm that blocks UV-B rays from the sun to protect the skin against harmful radiation. It is the most commonly used chemical for blocking UV-B rays. It is an organic compound formed from methoxycinnamic acid and 2-ethylhexanol. When mixed together, they form a clear liquid that does not dissolve in water. It can absorb UV-B rays from the sun but does not protect against UV-A rays. Octyl methoxycinnamate is the nomenclature termed by the International Nomenclature of Cosmetic Ingredients (INCI), which provides names for certain chemicals and other ingredients used in soaps, cosmetics and related ingredients. It is referred to as octinoxate according to the United States Adopted Names (USAN), which provides individual names for pharmaceutical products sold in the United States.
Growing demand for skin care is expected to drive the skin care products market within the forecast period as there is an increasing awareness regarding healthy skin among consumers. This in turn is expected to drive the demand for octyl methoxycinnamate in the market. Skincare is the largest segment present within the personal care industry. Skincare products include face creams, hand and body lotions, sun care products and facial treatment products. Changing lifestyle and increase in disposable income of consumers, particularly in emerging economies such as China, India and Brazil, is expected to drive the personal care industry, thereby augmenting the demand for octyl methoxycinnamate. The consumption of octyl methoxycinnamate based skin products has become high on account of factors such as hectic lifestyle and pollution damage human health and skin. Men’s grooming has become a mainstream market in the past few decades and this industry is anticipated to grow further driving the octyl methoxycinnamate market. Furthermore, rising awareness regarding sunscreen lotions and creams is expected to fuel the demand further for octyl methoxycinnamate over the next few years. However, octyl methoxycinnamate safety concerns have been raised regarding possible estrogenic and other adverse effects of octyl methoxycinnamate, especially in children and pregnant women. Additionally, octyl methoxycinnamate is absorbed into the skin and has been shown in some studies to promote generation of potentially harmful free radicals. This may act as a major restraining factor to the octyl methoxycinnamate market.
Regions such as Asia Pacific, Africa and Latin America are predicted to emerge as the fastest growing markets for octyl methoxycinnamate. The continual and rapid growth in the industries such as skin care and cosmetics care in these regions is expected to drive the demand for octyl methoxycinnamate in the production of various applications products. Moreover, developed markets such as the U.S. and European economies are steadily recovering from the economic downturn and are anticipated to generate significant demand for octyl methoxycinnamate in the coming years.
Some of the key players in the octyl methoxycinnamate market are Universal Esters Ltd., Salicylates and Chemicals Pvt. Ltd Allan Chemical Corp, Akema Fine Chemicals, Ashland Inc, Zymo Cosmetics and EMD Chemicals Performance Materials among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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