Global Phenylbenzimidazole Sulfonic Acid Market is segmented By Application (Sunscreen, Lotion, Others), By Product Type (Purity (Less than 95%), Purity (Less than 97%), Purity (Less than 98%), Purity (Less than 99%)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023 - 2030
Market Overview
The "Phenylbenzimidazole Sulfonic Acid Market" is estimated to reach at a CAGR of YY% during the forecast period (2023-2030).
Phenylbenzimidazole sulfonic acid is ensulizole, a significant ingredient in sunscreen products. The chemical can protect the human skin from the dangers associated with UV-B rays. However, it is often combined with titanium dioxide due to its incapability to protect skin from UV-A rays. Additionally, phenyl benzimidazole sulfonic acid could be combined with Mexoryl or Tinosorb to enhance its skin protection capabilities.
Since phenyl benzimidazole sulfonic acid is soluble in water, it benefits sun protection without oil. Additionally, phenyl benzimidazole sulfonic acid is exceptionally light when applied over the skin and highly compatible with almost all cosmetic compounds. Further, as phenyl benzimidazole sulfonic acid doesn't rapidly degrade on exposure to direct sunlight, it is considered as one of the best compounds currently available against UV exposure.
Market Dynamics
The compatibility of phenyl benzimidazole sulfonic acid with most cosmetic compounds and its delicate nature is a significant market driver for the global phenyl benzimidazole sulfonic acid market. However, its inability to filter UV-A rays restricts its market prospects.
High compatibility and non-greasy nature
Unlike most of the chemicals used in the manufacture of sunscreens, phenyl benzimidazole sulfonic acid is water-soluble. It could be used to manufacture high SPF skincare and sunscreen products. Compared to other chemicals used in skin and sunscreen products, phenyl benzimidazole sulfonic acid is light and non-greasy due to its water solubility. Therefore, it could be successfully utilized by people with oily skins without being greasy or causing skin breakouts.
Apart from the advantages offered by the physical properties of phenyl benzimidazole sulfonic acid, extensive chemical benefits could also be witnessed due to its unique chemical composition. Phenylbenzimidazole sulfonic acid belongs to a class of chemicals called phenylbenzamidaoles and contains heterocyclic rings composed of nitrogen, sulfur and carbon. It is highly compatible with most other organic compounds used in the cosmetic industry due to its ability to form hydrogen bonds. As a result, phenyl benzimidazole sulfonic acid is highly flexible and easily incorporated into any cosmetic product.
The above properties tend to raise the market demand for phenyl benzimidazole sulfonic acid in the cosmetic industry, one of the fastest-growing markets globally. As phenyl benzimidazole sulfonic acid's overall production and consumption would increase due to the high chemical compatibility and non-greasy nature of phenyl benzimidazole sulfonic acid, the respective factors could be considered essential market drivers.
The tendency of phenyl benzimidazole sulfonic acid to produce free-radicals on exposure to sunlight
Even though the reactivity of phenyl benzimidazole sulfonic acid to direct sunlight is comparatively significantly less, the respective chemical still releases free radicals when exposed to the sun's rays. Free radicals are chemical species that are short-lived and highly reactive. Due to the extreme reactivity of these free radicals, the interaction of these chemical species with human skin could break down collagen present in the skin. As a result, many harmful effects ranging from wrinkles and dark spots to even skin cancer could be inflicted on the skin cells.
Due to the tendency of phenyl benzimidazole sulfonic acid to release harmful free radicals, its use in cosmetics is limited by many regulatory agencies across the globe. For instance, in Japan, phenyl benzimidazole sulfonic acid is banned altogether. However, in US and UK, the respective chemicals could be used to a limited quantity of 4% and 8%, respectively. Since the product's overall market consumption and demand were constricted by the tendency of phenyl benzimidazole sulfonic acid to produce free radicals on exposure to sunlight, the respective factor could be considered a major market restraint.
COVID-19 Impact Analysis
The impact of COVID-19 on the global phenyl benzimidazole sulfonic acid market is ruinous due to many factors. The most prominent among them is the disruptions experienced in the manufacture and supply chain of phenyl benzimidazole sulfonic acid. Like any chemical, phenyl benzimidazole sulfonic acid also requires specific chemical conditions and pieces of machinery. The lockdown associated with the COVID-19 pandemic closed down factories and industries that produced phenyl benzimidazole sulfonic acid. It disrupted the supply chains of raw materials required to manufacture phenyl benzimidazole sulfonic acid, along with the logistics of the finished products.
Although the pandemic positively impacted the global cosmetics market, as the lockdown and social distancing prevented people from going out or visiting public places such as beaches, the demand for sunscreens in which phenyl benzimidazole sulfonic acid is used reduced drastically. Therefore, the global market's need for phenyl benzimidazole sulfonic acid was further reduced. Since the worldwide phenyl benzimidazole sulfonic acid market's fundamental demand-supply dynamics were drastically affected by the pandemic, the impact on the market should be considered horrendous and devastating.
Segment Analysis
By application, the phenyl benzimidazole sulfonic acid market is segmented into sunscreens, lotions, moisturizers, others.
Growing exposure to UV rays and increasing chances of skin cancer is boosting the demand and sales of the sunscreen segment in the market.
Global pollution has brought drastic climate change globally, and greenhouse gases severely damage the ozone layer. As a result, humans are exposed to more UV radiations compared to the past, and the chances of skin cancer and similar diseases have grown enormously. Since UV radiations are the primary culprit behind this, methods to protect oneself from these damaging rays have become the need for the day.
Sunscreens could block UV radiations, protect the skin's elasticity, and preserve it from wrinkles and damages. The demand for sunscreen in the market is growing as growth is experienced in protecting skin from harmful rays. Further, the growing health and beauty consciousness among people, particularly within the age bracket of 15 to 40, also boosts the demand sales for the sunscreen segment of the global phenyl benzimidazole sulfonic acid market.
Geographical Analysis
Increasing population density and number of chemical plants
The Asia-Pacific phenyl benzimidazole sulfonic acid market is expected to expand rapidly during the forecast period. Among other Asia-Pacific countries, China is projected to increase demand for phenyl benzimidazole sulfonic acid primarily because of the booming chemical sector and is projected to boost Asia-Pacific demand for phenyl benzimidazole sulfonic acid.
Population explosion in the region and associated growth in demand for beauty products such as sunscreens, lotions, among others, is another major booster for the respective market in the area. The order and capacity for phenyl benzimidazole sulfonic acid will likely grow in North America because of the increasing demand for effective sunscreen products in the region, particularly in industrialized nations such as the US.
Competitive Landscape
The phenyl benzimidazole sulfonic acid market is a scattered market that can grow with development in technology and chemical processes and the growth in demand for UV protection in cosmetics. In addition, some of the key players contributing to the market's growth are BASF SE, DSM, Corey Organics, Belchem, UNIPROMA, Merck KGaA, Shandong Ench Chemical Co., Ltd., Hebei Saiyi Technology Co., Ltd., Hairui Chemical, Shanghai Hanhong Chemical. The companies are adopting various new strategies to dominate the market, such as launching new schemes, acquisitions and collaborations.
For instance, in July 2020, Merck, a global science and technology firm, expanded its advanced bioprocess with the acquisition of RESOLUTION Spectra Systems, a pioneer in bioprocess analytical monitoring in Meylan, France. Through its GMP-ready apparatus and software, the firm provides Raman spectroscopy analysis. The company intends to expand its product portfolio with this acquisition.
Merck KGaA
Overview: Merck KGaA is a thriving scientific and technology firm that intends to influence people's lives positively. The company is 350 years old and employs around 58,000 people across the globe. The company's product portfolio o the company includes products that belong to segments such as healthcare, life science, and electronics.
Product Portfolio: Ensulizole(2-Phenylbenzimidazole 5-sulfonic acid)
The company produces Ensulizole or phenyl benzimidazole sulfonic acid with a quality level of 300. The product is of certified reference material pharmaceutical secondary standard and neat form. The product finds application in industries such as environmental, pharmaceutical, or applications such as HPLC and gas chromatography.
Key Development: In October 2019, Merck KGaA, a renowned scientific and technology corporation, announced today the acquisition of FloDesign Sonics, the creator of a novel acoustic cell processing platform for the industrialization of cell and gene therapy production. Acoustic cell processing is a game-changing technique that uses ultrasonic vibrations to manipulate cells. The business hopes to be the first to commercialize acoustic technology for cell therapy production.
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The global phenyl benzimidazole sulfonic acid market report would access approximately 54 market data tables, 46 figures, and 180 pages.
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