The UV Booster Market is expected to grow from US$ 127.6 million in 2024 to US$ 211.8 million in 2034. Fact. MR’s extensive study shows that the market will expand at a growth rate of 5.2% from 2024 to 2034.
The market for UV boosters in the cosmetics sector is growing as consumers become more conscious of skincare and sun protection. Products that offer excellent UV protection together with other advantages including moisturising, anti-aging, and anti-inflammatory properties are becoming more and more popular. Popular skincare and hair care products with possible advantages for sun protection and anti-aging are increasingly responsible for the UV booster industry. Customers' growing need for alternatives to conventionally accessible chemical-based items has led to a surge in demand for natural and organic products.
Because of its rising demand in lipsticks and lip balms, the benzotriazole segment is projected to increase at the fastest rate. Because this chemical will be used more often in well-known cosmetic goods, the lipsticks and lip balms segment will have the highest compound annual growth rate. Overall, the market for UV boosters is anticipated to continue expanding quickly as people become more conscious of the advantages of sun and skin care. Leading companies in the industry are concentrating on developing novel products that provide UV protection in addition to additional advantages including moisturising, anti-aging, and anti-inflammatory properties.
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Key Takeaways from Market Study:
- Global UV Booster market will grow at a CAGR of 5.2%, reaching US$ 211.8 million by the end of 2034.
- North America will expand at a CAGR of 5.6% from 2024 to 2034, capturing 21.6% of the market share in 2024 and offering an absolute opportunity of US$ 15.5 million.
- East Asia will account for 30.2% of market share in 2024, generating an absolute dollar opportunity of US$ 27.0 million between 2024 and 2034.
· Between 2024 and 2034, the benzophenone by product classification is expected to produce an absolute dollar opportunity US$ 33.2 million.
· With a 53.9% market share, the UV Booster skin care cosmetics product type is estimated to be worth US$ 68.8 million in 2024.
"UV Booster market, where analysis highlight trends, growth drivers, and opportunities cosmetics companies can leverage in this emerging trend” says a Fact.MR analyst.
Market Development:
Key companies like Allnex, Perma Chink Systems Inc., BASF SE, Clariant AG, Solvay SA, Huntsman Corporation, Milliken Chemical, Spectrum Chemical, Adeka Corporation, Croda International PLC. are propelling the market growth.
As these important companies took advantage of a variety of primary strategies to improve their position in the electronic chemicals and materials market, they released new products, acquired companies, expanded, and made deals. As an instance-
· In April 2023, Allnex reached a milestone when it mechanically completed the new manufacturing hub in Jiaxing, China - another critical step forward in its strategic expansion into greener resins. Operations are expected to start in phases during the second half of 2023.
· In October 2022, Clariant introduced AddWorks® AGC 970, a novel light stabilizer for agricultural polyethylene films to improve resistance to UV exposure and agrochemicals with innovation spirit in agricultural fields.
· In April 2022, Allnex launched a new UV Booster product under the name of Allnex UV-101, which is used in hair care and skin care.
· In March 2022, Perma Chink Systems Inc. announced a new line of UV-stable water-repellent coatings for furniture and equipment used outdoors.
· In May 2022, BASF SE acquired the company Perstorp's UV Booster business, this widened its product portfolio within the cosmetic and personal care industry.
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