Octyl Salicylate Market to Grow with a CAGR of 4.65% Globally through 2028
Surge in research and development activities is expected to drive the Global
Octyl Salicylate Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Octyl
Salicylate Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Octyl Salicylate Market stood
at USD966.54 million in 2022 and is anticipated to grow with a CAGR of 4.65% during 2023-2028. The initiatives taken by government based on octyl
salicylate has led to favorable market conditions for the Global Octyl
Salicylate Market. Several factors contribute to the growth of various octyl
salicylate market products.
In the United
States, the Food and Drug Administration (FDA) plays a crucial role in
overseeing the safety and efficacy of over-the-counter (OTC) sunscreen
products. This includes the regulation of specific ingredients, such as octyl
salicylate. As stated in the Code of Federal Regulations Title 21, sunscreen
products can contain octyl salicylate at a maximum concentration of 5%. This
important regulation is in place to ensure that sunscreens available to
consumers are not only effective in protecting against harmful UV rays but also
safe for regular use. By providing clear guidelines and standards, the FDA
helps to maintain the quality and reliability of sunscreens, promoting the well-being
of individuals and encouraging responsible sun protection practices.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global Octyl Salicylate Market”
New formulations
are continually emerging as a result of dedicated research and development
efforts in the field. These innovative formulations are specifically designed
to enhance not only the texture and absorption rate, but also the overall
performance of sunscreens that contain octyl salicylate. Additionally, diligent
researchers are actively exploring various methods to further increase the
stability of octyl salicylate in different product formulations and
applications. Their goal is to ensure that these sunscreens provide optimal
protection and efficacy, meeting the evolving needs and expectations of
consumers.
The Global Octyl
Salicylate Market is segmented into type, application, regional distribution,
and company.
Based on its type, the light yellow segment held the
largest share in the market. Light yellow Octyl Salicylate liquid, also known
as octyl salicylate or 2-ethylhexyl salicylate, is a clear, colorless to pale
yellow liquid with a characteristic odor. It is commonly used as a sunscreen
ingredient due to its ability to absorb ultraviolet (UV) rays. This versatile
liquid is insoluble in water and has a density of 0.985 g/cm³. With its
excellent photostability and compatibility with other sunscreen agents, it is a
popular choice for formulating sun protection products.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
In the Asia-Pacific region, octyl salicylate is
commonly used as a UV filter in various sun protection products such as
sunscreen creams, lotions, sprays, and sticks. Its presence in cosmetics and
sunscreens has become increasingly prevalent due to its effectiveness in
shielding the skin from harmful UV rays. Notably, sunscreen has emerged as one
of the fastest-growing categories within China's cosmetic industry, and experts
predict its continuous growth during the forecast period, driven by the rising
awareness of sun protection and the increasing demand for skincare products.
Major
companies operating in Global Octyl Salicylate Market are:
- ACETO CORPORATION
- Clariant AG
- ERNESTO VENTÓS S.A
- LABDHI CHEMICAL PRIVATE LIMITED
- MFCI CO., LTD
- OTTO CHEMIE PVT LTD
- PRAKASH CHEMICALS INTERNATIONAL
PRIVATE LIMITED
- RISHABH METALS AND CHEMICAL PVT.
LTD
- UNICORN PETROLEUM INDUSTRIES PVT
LTD
- Universal Esters Ltd.
Download Free Sample Report
Customers can also request for 10% free
customization on this report
“Growing application of octyl salicylate in various
end user industries are key drivers of the octyl salicylate market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of octyl salicylate with every
passing year are anticipated to register an impressive growth to Global Octyl
Salicylate Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Global Octyl Salicylate Market By Type
(Colorless, Light Yellow), By Application (Perfume, Soap, Cosmetics,
Sunscreens, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Octyl Salicylate Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Octyl Salicylate Market.
Contact
TechSci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com