United States, Rockville MD, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR’s latest released report on the global film formers market, the industry has reached a size of US$ 1.5 billion in 2022 and is anticipated to expand at a healthy CAGR of 4.9% during the forecast years of 2022-2032.
With rising use in cosmetics and skin care products, demand for film formers is increasing steadily across the world. The total consumption of sun care and hair care products is increasing worldwide due to growing concerns about skin issues. People also have become very conscious about their skin and health, and purchase sun care products and other cosmetics that protect their skin from hazardous sun rays.
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Sun protection factor (SPF) sunscreens are one of the dominant solutions for this problem. These SPF sunscreens offer wear protection as well as water resistance and an improved smooth feel on the skin. Over the past few decades, there has been increasing demand for environment-friendly products, thereby driving the development of bio-based materials. Bio-based film formers have boomed worldwide in recent years because of their durability, price, and adaptability.
Owing to eco-friendly developments in the film formers market, demand for their sustainable use is expected to witness significant growth over the coming years.
“Emerging Use of Bio-based Film Formers in Cosmetics”
Bio-based materials have boomed worldwide in recent years because of their being eco-friendly, durable, and easy to adapt. Bio-based film formers are a new generation of materials that are still gaining market share. They are a possible replacement for conventional film-forming ingredients due to the increased interest in sustainable development. Also, government efforts to promote products that are eco-friendly and non-hazardous to the environment are helping the market for biodegradable film formers grow at a faster rate than synthetic film formers.
Innovation and development of new products is the basic requirement for every industry and that helps in raising the market size also. Personal care and cosmetics is the biggest market across the world, and film formers account for a major part of various skin care products and enable them to create a layer on the skin of humans to help protect from external factors such as the sun, heat, and dust.
Bio-based film formers provide a natural alternative to synthetic film formers in skin care product formulations.
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Key Segments Covered in the Film Formers Industry Survey
- By Product Type :
- Synthetic Film Formers
- Natural Film Formers
- Synthetic Film Formers
- By Compound :
- Acrylates
- Acrylamides
- Glycerin
- Others
- Acrylates
- By Application :
- Personal Care Applications
- Sun Care Formulations
- Skin Care Formulations
- Hair Care Formulations
- Paint Formulations
- Medical Equipment Formulations
- Personal Care Applications
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
- North America
Market Development
The future strategy for manufacturers of film formers should be focusing on the growing segment of natural film formers that are eco-friendly and bio-based.
Many of the film formers are nowadays bio-based. They have a good impact on human health and also the environment. Due to their corrosion resistance and biocompatible characteristics, their use is increasing in the medical sector as well. They are widely used in drug delivery systems. Cosmetic industries have also started using bio-based film formers to lessen skin diseases and minimize the side effects of products on the skin and body.
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Key players in the Film Formers Market
- Covestro AG
- Eastman Chemical Company
- Dow Inc.
- Roquette Frères
- Nouryon
- Azelis Americas, LLC
- TC USA Inc.
- Ultra Chemical Inc.
- K-Tech (India) Pvt. LTD
- ChemPoint
Key Takeaways from Film Formers Market Study
- The global film formers market is projected to grow 1.6X and reach US$ 2.5 billion by 2032.
- Sales of film formers increased at 3.9% CAGR between 2017 and 2021.
- Under product type, synthetic film formers dominate with a market share of 78.1% in 2022.
- North America leads the global market with 32.1% share in 2021
- Demand for film formers is expected to increase at a CAGR of 4.9% in North America, through 2032.
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