Benzophenone (Oxybenzone) Market

Benzophenone (Oxybenzone) Market Analysis 

Benzophenone is a carcinogen, mutagen, and endocrine disruptor. It has been linked to a variety of side effects, including genotoxicity, carcinogenicity, and endocrine disruption. In the printing business, benzophenone is utilized as a photo initiator in UV-curing applications such as inks, imaging, and transparent coatings. It belongs to the UV absorber family. Benzophenone works by altering the structural structure of UV light, emitting it at a longer wavelength, and converting it to heat. Benzophenone is largely utilized as a fragrance element in laundry and cleaning products in home care applications. It is added to perfumes to protect them from the sun's rays and the elements. In addition, benzophenone is frequently utilized in adhesives and sealants as an industrial photo initiator.

COVID-19 Impact analysis

• Benzophenone is largely utilized in the formulation of paints and coatings, which are then used in the building and construction industry. However, the current Covid-19 epidemic has disrupted and affected the supply chain, which has harmed the demand for benzophenone in the building and construction sector.
• During the COVID-19 epidemic, many countries-imposed trade restrictions on imports and exports due to safety issues which had a negative impact on the Benzophenone (Oxybenzone) market.

Top Impacting Factors

The rise in demand for benzophenone in various applications such as paints & coatings, adhesives & sealants, agrochemical, pharmaceutical, home care, and personal care drives the growth of the global benzophenone market. The market is estimated to be driven by benzophenone's ability to prevent discoloration and photo deterioration of physical, mechanical, and chemical properties of polymers caused by UV light in the near future. Benzotriazole, triazine, and hindered amine light stabilizers are all popular benzophenone alternatives. Benzotriazole has a wide range of absorbance from 270nm to 400nm and is suitable with a variety of polymer systems and additives. This aids in the prevention of gloss loss, cracking, blistering, and color change. Furthermore, these UV absorbers have better qualities than benzophenone, despite the fact that benzotriazole is more expensive than benzophenone. As a result, benzotriazole is widely utilized in paint and coating compositions. Triazine, on the other hand, outperforms benzotriazole and benzophenone in terms of light fastness. It can also be employed in acid-catalyzed systems or acidic rain applications. The benzophenone market is projected to be hampered in the next years as a result of this.

Market Trends

• SHOWA KOSAN Co, Ltd. has become a subsidiary of ADEKA Corporation after ADEKA Corporation purchased further shares of SHOWA KOSAN Co, Ltd. ADEKA wants to strengthen its business connection with SHOWA KOSAN as a result of this stock purchase. Through its long-term and solid collaboration with SHOWA KOSAN, the firm plans to increase sales of ADEKA's products.
• SI Group, a prominent global developer and manufacturer of performance additives and intermediates, has been purchased by SK Capital Partners, a private investment firm concentrating on the specialty materials, chemicals, and pharmaceuticals sectors.
• Shanghai Yuanhe Chemicals Co., Ltd. in China has been acquired by IMCD N.V., a prominent distributor of specialty chemicals and additives. With the acquisition of Shanghai Yuanhe Chemicals, IMCD China increases its footprint in China.

Key Benefits of the Report

• This study presents the analytical depiction of the Benzophenone (Oxybenzone)’ industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Benzophenone (Oxybenzone) market share.
• The current market is quantitatively analyzed to highlight the Benzophenone (Oxybenzone) market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Benzophenone (Oxybenzone) market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the Benzophenone (Oxybenzone) Report

• Who are the leading market players active in the Benzophenone (Oxybenzone)’ market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?

 Benzophenone (Oxybenzone) Market Report Highlights