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Although many chemicals in cosmetic products pose hardly any or zero threat, several dozen are associated to serious medical issues, such as cancer, reproductive and neurological harm, and developmental delays. Cosmetic chemicals can enter the body through the skin, inhalation, ingestion and internal use, and pose similar problems as food chemicals, per this site.

Chemicals associated with cancer are found in food and a lot of other common items. Still, no classification of consumer items is subject to less government management than cosmetics, including Toasted Coconut Lacquer. Though most of the chemicals in cosmetics very likely present very little risk, your exposure to some has been associated with major health disorders, such as cancer.