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UV filtres absorb UV light and blocks it from reaching the subject. One of the key applications of UV filters is sunscreens to defend skin against sunburn and other damage associated with UV rays. UV filtres were used to cover glass discs mounted to camera lenses to secure hardware until the advent of digital cameras. Climate change and the loss of the ozone layer are also expected to fuel demand for UV filtres in the upcoming years.
Widespread concern about skin-related diseases are expected to fuel the global demand for UV fitres. These filtres help to absorb or reflect UV light, and shield the skin against harmful UV rays. Increasing awareness of skin diseases in developing economies is boosting demand for sunscreen lotions. It would further projected to fuel the growth of global UV filters market during the forecast period. However, UV filtres have been subjected to stringent government regulations. The FDA does not allow some UV filtre chemicals. This is likely to hamper the market growth.
Key Market Driver -
Increasing awareness coupled with increased application in skincare manufacturing is driving the market growth.
Key Market Restraint -
Stringent government regulations restricted the market growth.
Based on product type, the market for UV filters is further segmented into organic and inorganic. Based on application, the market for UV filters is further segmented into sunscreens, oils and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global & regional players operating in the UV filters market includes, Advance NanoTek Limited, Ashland, BASF SE, Dow, Hallstar, Kobo Dynamic, L'Oréal Group, Novacap, DSM and others.
North America dominates the demand for UV filters across the globe. This growth is attributed to the region's fairly high market revenue in personal care and medical industry. The largest share on the UV filters market is held by the U.S. The demand for high-end luxury products from the ageing population has a greater impact on the personal care & beauty care market in the country. Asia Pacific witnessed steady growth in the market. Factors influencing the growth of the UV filters market in the region includes the increasing awareness of skincare problems and sun tan caused by harmful UV rays. Emerging economies such as China and India are prominent consumers of UV filters products. The UV filtre market in Europe is expected to grow at a substantial rate. The per capita spending on personal care and medical items is high in these region specially in UK and Germany. This aspect is expected to propel the UV filtre demand in the region during the forecast period. Growth in skin care product utilization driven by climate change is likely to generate potential demand for UV filters in Latin America, Middle East and Africa.
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