Benzophenone is an organic compound, physically a white solid and soluble in organic solvents, and it is persistent, bioaccumulative, and toxic. According to the publisher, the global Benzophenone market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing use of Benzophenone to produce paints and coatings as an ultraviolent curing agent used to coat products like sunglasses, food packaging, etc., are expected to drive the global market. Further, the use of Benzophenone for the manufacturing of adhesives and sealants and used as an industrial photoinitiator is projected to drive the market.
Furthermore, the use of Benzophenone in personal care products like Lip balm, nail polish, foundations, baby sunscreens, fragrance, shampoo, etc., is expected to drive the global market. However, health factors linking Benzophenone with diseases like cancer, endocrine disruption, developmental and reproductive toxicity, organ system toxicity, irritation, and Stringent Government regulations are expected to hinder the market growth in the forecast period.
- SONGWON Industrial Group
- BASF SE
- ADEKA Corporation
- Bioray Chemical Co., Ltd.
- SI Group, Inc.
- Clariant AG
- Chitec Technology Co., Ltd.
- Everspring Chemical Co., Ltd.
- Rianlon Corporation
- Everlight Chemical Industrial Corp.
- Shanghai Yongzeng Technology Co.,Ltd
- Chongqing ChangFeng Chemical
- YiDu Jovian Industry CO., LTD
- Lianyungang Deyang Chemical Co., Ltd.
- Hubei Meikai Chemical Co Ltd
The Paints and Coatings segment is the biggest consumer of Benzophenone and is projected to drive the global market. The segment is driven due to the properties of Benzophenone to prevent discoloration and photo deterioration of physical, mechanical, and chemical properties of polymers caused by UV light, which aids in the prevention of gloss loss, cracking, blistering, and color change. Benzophenone acts by changing the conformational structure, emitting higher wavelengths, and converting UV light into heat. Leading Paints and Coatings company, The Sherwin-Williams Company, posted net sales of USD 5.38 Billion, up by 16.9% in its 2021 second quarterly report. Due to the depleting ozone layer, the use of Benzophenone has increased to be used as a coating to prevent consumer goods and other items from harmful UV radiation. Benzophenone is utilized as a photoinitiator for UV absorber applications such as inks, imaging, and transparent coatings in the printing business, as it belongs to the UV absorber family. Benzophenone works by altering the structural structure of ultraviolet light, emitting it at a longer wavelength, and converting it to heat. The market is estimated to be driven by Benzophenone's ability to prevent discoloration and photo deterioration of polymers' physical, mechanical, and chemical properties caused by ultraviolet light.
The Asia Pacific region is expected to be the leader in the production and consumption of Benzophenone, with most of the consumption in countries like China and India. The demand for personal care products, cosmetics, and pharmaceuticals is enormous in the region since more than half of the world's population lives there. Further, the use of Benzophenone as an ultraviolet absorber inhibitor in paints and other coatings in the construction industry and the consumer goods industry is expected to drive the market in the region. Moreover, Benzophenone is utilized mainly as a fragrance element in laundry and cleaning products in-home care applications since it is added to perfumes to protect them from the sun's rays and the elements. Growing demand from the Asia Pacific region for better products in the personal care, cosmetics, and pharmaceutical industries has made Benzophenone an essential material for the region's growth. Factors like these have made the Asia Pacific an essential region for growth in the Benzophenone industry. Additionally, Benzophenone can be used for acidic rain applications or acid-catalyzed systems, thus driving the growth in the region. Thus adding to the demand for Benzophenone in the Asia Pacific Region.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Regulatory Policies
3.6 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
5. Market Segmentation & Forecast
5.1 By Type
5.2 By Application
6. Regional Market Analysis
7. Key Company Profiles
8. Competitive Landscape
9. Conclusions and Recommendations
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