Personal Care Industry to Drive Wheel of Fortunes of Film Formers Market, States Fact.MR
Rising Use of Natural Film Formers Across End-Use Applications to Positively Influencing Market Growth.
United States, Rockville MD, Sept. 02, 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.
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.
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New Sun Protection Factor (SPF) Sunscreens Required to Combat Increasing Global Warming Effect
Due to global warming, the average atmospheric temperature is increasing every year across the world. This rising temperature has a very bad impact on the human body. Due to global warming, skin diseases are increasing in the worldwide population. Now, people have become conscious about their skin and health and purchase sun care products and other cosmetics to protect their skin from hazardous sun rays.
Manufacturers should focus more on research and development to develop customized solutions that are eco-friendlier and have fewer side effects. Also, focusing on the personal care industry for generating revenues can prove to be a game changer for manufacturers as growth is expected to be much higher as compared to other end-use applications.
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Key Takeaways from 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.
Segmentation of Film Formers Industry Research
- By Product Type :
- Synthetic Film Formers
- Natural Film Formers
- By Compound :
- Acrylates
- Acrylamides
- Glycerin
- Others
- 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
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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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Microfiber Synthetic Leather Market: The global microfiber synthetic leather market is expected to grow with a CAGR of 4.9% and estimated to surpass the market value of US$ 1.8 Bn by the end of FY-2032. The microfiber synthetic leather market accounts for around 17% of synthetic leather market, the share of microfiber synthetic leather market is expected to bolster on the back of growing concern and shifting consumer preference for environmental friendly products.
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