Octyl Methoxycinnamate market Size, Share, Growth, and Industry Analysis by Assay (95.0%-98.0%, 98.0%-99.0%, and more than 99.0%), By Application (Sunscreen, Hair Products, Lip Stick, Nail Polish, and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

Octyl Methoxycinnamate Market Report Overview

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The global octyl methoxycinnamate market size was worth USD 160.9 million in 2022 and is projected to touch USD 249.58 million by 2031, at a CAGR of 5.0% during the forecast period.

Octyl Methoxycinnamate is an organic substance that is an ester formed from methoxy cinnamic acid 2-ethyl hexanol. Octyl Methoxycinnamate is used as ingredient in sunscreen, lotions, shampoo, cosmetic creams, makeup creams, hair colours, soaps, and balm. It is also used to manufacture pesticides, antihistamines, and other drugs. It is a sun blocking compound that absorbs UVB rays. Although, when it is exposed to sunlight, it is rendered less effective, however this reaction can be prevented by the addition of other compounds. It is also used to remove to appearance of scars.

The rapid growth in the industries such as skincare and cosmetics care in the North America is expected to drive the demand for Octyl Methoxycinnamate in producing various cosmetics products. The growth factors of the global Octyl Methoxycinnamate market are increasing demand for the skincare industry in developed countries, evolving lifestyle of consumers. Since it is mainly used in sunscreens and other creams, preventing the skin from being damaged, it is the primary growth factor in the global octyl methoxycinnamate market. Growing awareness from the Asia-Pacific region for better personal care, cosmetics, and health products has made Octyl Methoxycinnamate an important material for the region's growth. Factors like these have made Asia-Pacific a major area for growth in the Octyl Methoxycinnamate market. 

COVID-19 Impact: Lower Demand Impacted Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the global market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic were felt on a global level, the global Octyl Methoxycinnamate market was significantly influenced. The outbreak of COVID-19 had a negative impact on Octyl Methoxycinnamate market because of the spread of infection, there was a demand for work from home which negatively affected the Octyl Methoxycinnamate demand. Nevertheless, owing to the COVID-19 pandemic, the end-use sectors are largely impacted, as most countries have given "stay at home guidance". These factors restricted the growth of the industry.

LATEST TRENDS

"Growing Perception Of Skin Care Lotions To Aid Market Progress   "

The growing perception of skin care creams among consumers is expected to boost demand for octyl methoxycinnamate over the next few years. Changes in habits of consumer disposable revenue are predicted to drive the skin care industry, especially in large economies like U.S.A, China, India and Brazil, thus increasing the market for octyl methoxycinnamate. In addition, developing economies such as China, India, and others will deliver new prospects for the demand for octyl methoxycinnamate. In exchange, this is expected to grow consumer demand for octyl methoxycinnamate. The use of Octyl Methoxycinnamate as a cosmetic manufacturing ingredient is expected to drive growth in the region since the growing population demands more sunscreen. 

Octyl Methoxycinnamate Market Segmentation

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• By Assay

Based on Assay; the market is divided into 95.0%-98.0%, 98.0%-99.0% and more than 99.0%. the 95.0%-98.0% segment is projected to dominate the market share through 2028.

• By Application

Based on application; the market is divided into Sunscreen, Hair Products, Lip Stick, Nail Polish and Others. Among these, the sunscreen segment is anticipated to old the largest market share during 2022-2028. 

DRIVING FACTORS

"Personal Care Industry To Support Demand "

The Personal Care industry is the biggest consumer of Octyl Methoxycinnamate, producing the major requirement for the chemical and is expected to drive the global market. Octyl Methoxycinnamate is an essential chemical ingredient in some brands of sunscreen and lip balm that completely blocks UV-B rays from the sun to protect the skin against harmful radiation. Skincare products with Octyl Methoxycinnamate include hand and body lotions, sun care products, and facial treatment products. The use of Octyl Methoxycinnamate-based skin products has become high due to the commonly found hectic lifestyle and the pollution that damages human health and skin globally. The chemical sun-blocking agent octyl methoxycinnamate absorbs UV radiation in the Ultra Violet-B range.

"Growing Demand For Sunscreen To Boost Market Growth"

Growing demand for sunscreen is predicted to propel the market for sunscreen products within the forecasted time period, as customers are rising aware of healthier lifestyle. To decrease the presence of scars, it is often used. In exchange, this is awaited to fuel consumer demand for octyl methoxycinnamate. Sunscreen is the leading segment of the personal care market. Face creams, skin care products, hand and body lotions, and face treatment products are included in the Sunscreen products. Usage of skin products based on octyl methoxycinnamate has been increasing owing to factors such as hectic lifestyle, human health, and skin injury from pollution. All the factors add up to the increased need and demand for Octyl Methoxycinnamate in the market. 

RESTRAINING FACTORS

"Safety Concerns To Affect Market Growth "

However, questions regarding the safety of octyl methoxycinnamate have been raised with respect to potential estrogenic and other adverse effects of octyl methoxycinnamate, especially in children and pregnant women. Furthermore, octyl methoxycinnamate is absorbed into the skin and has been shown to facilitate the production of potentially dangerous free radicals in some experiments. This can serve as an important limiting force in the demand for octyl methoxycinnamate.

Octyl Methoxycinnamate Market Regional Insights

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"North America To Dominate Market Owing To Increasing Demand For Personal Care And Cosmetics"

North America dominated the Octyl Methoxycinnamate Market share, followed by Europe. With an increasing emphasis on the quality of living in countries such as the US and Canada, the use of beauty and personal care products is rising throughout the globe. The demand for cosmetics has risen in the US over the last decade. As a result of the demand for personal care and cosmetics, fuelled largely by the influence of Americans, the area of North America is rising. This leads to an increased use of cosmetics by women, a greater understanding of what can be achieved because of the increased jobs of women and hygiene awareness, which has increased the development of such demand in the region.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Spectrum Chemical
• MFCI
• AIC
• Universal Esters
• Shandong OML Chem

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.