UV Filters Market Potential Growth, Worldwide Industry Analysis
The global UV filters market size will escalate in the forthcoming years because of the soaring demand for effective solutions to mitigate the impact of worsening climate change on health and materials. Fortune Business Insights™ shares this information in its report, titled “UV Filters Market, 2021-2028.”
The depletion of the Ozone Layer because of pollution and global warming necessitates the employment of ultraviolet (UV) filters to protect against the sun’s harmful rays. These filters are also utilized in sunscreens for protecting the skin against sunburns caused by exposure to harmful sun rays. Additionally, UV filters are utilized in camera lenses to protect the camera hardware from scratches, dust, moisture, and harmful sunlight and protect the film reel inside the camera from excessive exposure to UV rays.
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The market is segmented by product type into organic and inorganic. Based on application, the market is segregated into sunscreens, oils, and others. Geographically, it is distributed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report provides a detailed analysis of the various market trends and leading segments. It comprehensively discusses the market’s drivers and restraints and analyzes the regional developments and impacts of COVID-19 on the market. Additionally, it examines the strategies undertaken by the key players of the market.
Drivers and Restraints
Mounting Concerns over Skin Diseases to Boost the Market Positively
The demand for UV filters is expected to surge because of the rising concerns of skin disease caused by prolonged exposure to UV rays. For example, the US Environmental Protection Agency (EPA) states that unprotected exposure to ultraviolet radiation is the most preventable risk factor for skin cancer. UV filters protect the skin from exposure to harmful rays and reduce skin diseases such as melanoma. They are also used in beauty and healthcare products, such as skin creams, sunscreen, and facemasks, to protect the skin from exposure to harmful UV rays. In addition, spectacle manufacturers provide a filter to protect eyes from harmful rays. For example, Lenskart, an online spectacle platform in India, provides consumers with UV protective lenses that can be used in any frame of choice at reasonable prices. Therefore, the use of ultraviolet filters in several applications is expected to drive the market’s growth.
However, the US Food and Drug Administration’s (FDA’s) stringent regulations against the use of certain chemicals in UV filters are anticipated to hinder the market growth.
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North America to Witness High Market Revenue Backed by Soaring Demand for UV Solutions
The North America region will lead the UV filters market share during the foreseeable years because of the globally rising demand for these filters. The U.S. is the major shareholder in the region because of the increasing demand for premium skincare products using protective filters.
Asia Pacific will experience consistent growth because of consumer inclination towards body lotions and face masks that curb skin diseases. Developing countries such as India and China are the leading consumers of UV-based products because of rising CO2 emissions and increasing pollution.
Owing to the high per-capita income of people in Europe, the demand for UV filters is projected to increase in the upcoming years.
Companies to Use UV Filters in Several Products to Endure the Intensely Competitive Market
The market’s prevalent players are partnering with each other to develop superior quality products and expand their market reach. Manufacturers are producing products targeted towards all types of skins. For example, Neutrogena and BARE REPUBLIC provide sunscreens for oily skin. Additionally, UV filter manufacturers are also launching UV protection in passenger cars to protect against harmful rays. For example, 3M provides window tints that block 99% of the UV rays and provide the passengers and the driver protection against harmful rays.
December 2019: BASF SE expanded its manufacturing capacity for UV filters in Grenzach and Ludwigshafen to fulfill the emerging consumer demand. The company aims at allocating the value chain of Uvinul T 150, Tinosorb S, and Uvinul A Plus filters by undertaking this expansion.
List of Key Players Covered in the UV Filters Market Report
- Advance NanoTek Limited
- BASF SE
- Kobo Dynamic
- L’Oréal Group
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