Oxybenzone is a general derivative of Benzophenone which is efficient in absorbing UVB, and UVA II rays, which results in a photochemical action and absorption of energy, and when the combination returns to its ground state, the absorbed energy consequences in the emission of more prolonged wavelength radiation and reduces skin penetration of radiation which reduces the risk of DNA damage. According to BlueQuark Research & Consulting, the global Oxybenzone market is expected to witness a significant growth rate during the forecasted period. Factors such as the increasing use of Oxybenzone is commonly used sunscreens are expected to drive the global Oxybenzone market in the forecasted period. Further, the utilization of Oxybenzone as coatings to prevent harmful UV radiations from damaging consumer products is predicted to drive the global Oxybenzone market in the forecasted period. Furthermore, Benzophenone is utilized mainly in the formulation of paints and coatings, which are then used in the building and construction sector and are expected to drive the demand of the oxybenzone market in the forecasted period. However, rising health problems related to Oxybenzone such as cancer, developmental and reproductive toxicity, organ system toxicity, irritation, endocrine disruption, and Stringent Government regulations are expected to hamper the market growth.  

Oxybenzone is used as a body lotion, soaps, anti-aging creams, aftershaves, standard sunscreen, baby oils, and baby shampoo. It is also used to manufacture insecticides, hypnotic drugs, antihistamines, agricultural chemicals, and other pharmaceuticals.

The Personal Care segment is the largest consumer of Oxybenzone and is projected to drive the global Oxybenzone market. Oxybenzone is utilized as a sunscreen agent due to its ability to absorb UVB and short-wave UVA Ultraviolet rays, affect as a filter and minimize skin damage caused by UV rays. It is used mainly due to its properties as it forms some colorless crystals that are readily soluble in most of the available organic solvents. It is worn as an ingredient in sunscreen and other cosmetics due to it absorbs UV-A ultraviolet rays. Sunburn and skin cancer are the significant causes prompting the use of cosmetics, thereby leading to a rise in Oxybenzone, a vital ingredient in sunscreens, foundations, moisturizers, and lip balms. Although Oxybenzone is a harmful chemical ingredient majorly worn in cosmetic products, it also has other diverse uses in manufacturing plastics, paints, and various furniture finishes. Significant demand from millennials and Generation Z has been seen in the prevalence of sun care creams with anti-aging and SPF benefits, which has accelerated the growth of the sunscreen industry and, in turn, led to the progress of the Oxybenzone market. Further, prime consumer goods company Beiersdorf AG posted profits of EUR 3.8 billion, a 12.3% year-on-year growth in its half-yearly reports for 2021. Characteristics of Oxybenzone like absorbing light in the UV-B (280–315 nm) and short-wavelength UV-A (315–355 nm) ranges make it ideal for utilization in sunscreens and other consumer goods. Major Consumer Goods Company, The Edgewell Personal Care Company posted net sales of USD 573.7 Million and an 18.6% year-on-year development showing the growth in the market. Rising global temperatures and booming population have increased the need for sunscreens by the consumers and the demand for coatings that prevent UV radiations from causing any harm to the goods on which the layers are applied. All the factors add to the increased demand and need for Oxybenzone in the forecasted period. 

Some of the prime market's key players are Hangzhou Jingyou Chemical Industry Co., Ltd., Hangzhou Sunny Chemical, Everlight Chemical Industrial Corp, 3V Sigma, SI Group, Inc, Clariant AG, Hongda Group Company Ltd., Rianlon Corporation, among others.

Asia-Pacific region is awaited to be the leader in the manufacture and consumption of Oxybenzone, with most of the usage in countries like China and India. The demand for cosmetics, personal care products, and pharmaceuticals is substantial in the region since more than half of the globe's population lives there. Further, Oxybenzone as a UV light inhibitor in paints and other coatings in the construction sector and the consumer goods industry is projected to drive the market in the region. The market is evaluated to be driven by Benzophenone's ability to prevent discoloration and photo deterioration of mechanical, physical, and chemical properties of polymers caused by UV light soon. Benzotriazole, triazine, and amine light stabilizers are popular benzophenone alternatives. Benzotriazole has a broad absorbance range from 270nm to 400nm and is suitable with various polymer systems and additives. This aids in preventing gloss loss, cracking, blistering, and color change. Furthermore, these UV absorbers have better qualities than Benzophenone, even though benzotriazole is more expensive than Benzophenone. As a result, benzotriazole is widely utilized in paint and coating compositions. Moreover, Oxybenzone as a critical sunscreen manufacturing component is expected to drive sales in the area since the growing population demands more sunscreen. The surging demand from the Asia-Pacific region for better products in the personal care, cosmetics, and pharmaceutical industries has made Oxybenzone a vital material for the region's growth. Factors like these have made Asia-Pacific a critical area for growth in the Oxybenzone market. Additionally, Oxybenzone can be worn for acidic rain applications or acid-catalyzed systems, thus driving the increase in the region. Thus adding to the need for Oxybenzone in the Asia Pacific Region. 

Global Oxybenzone Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Oxybenzone market by segmenting based on the Type (95% Purity, 97% Purity, 99% Purity, Others), Application (Sunscreens, Plastics, Furniture Finishing, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.