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Global Phenoxyethanol Market to Reach USD 238 Million by 2026, Aided by the Rising Demand for Phenoxyethanol Types
According to a new report by EMR titled, 'Global Phenoxyethanol Market Report and Forecast 2021-2026', the global market for phenoxyethanol reached a value of USD 183 million in 2020. The market is further expected to grow at a CAGR of 4.5% in the forecast period of 2021-2026 to reach a value of around USD 238 million by 2026.
The market is being driven by the rising demand for phenoxyethanol P5 and phenoxyethanol P25. The market for phenoxyethanol P5 is accelerating due to the rising demand for cosmetics as it is a premium grade preservative with phenol content less than 5 ppm, making it a favourable choice for cosmetics manufacturers. Since phenoxyethanol P25 is toxic for human consumption, it is mainly preferred in the production of solvents and plasticizers, which are used in architectural and industrial coatings. Due to the rising construction and industrial development activities, the demand for phenoxyethanol preservatives is expected to escalate in the coming years.
The market for phenoxyethanol is being driven by the new innovations within the industry by the major key players such as BASF SE (ETR: BAS) and Clariant International Ltd. In March 2021, Clariant International Ltd launched Velsan® Flex, which is a next-generation preservation booster. It is used in the personal care products, like cosmetics. It ensures antimicrobial protection with the composition of benzoic acid, benzyl alcohol, or phenoxyethanol, for a wide range of cosmetic formulations. The rising demand for enhanced cosmetic products is aiding the market growth for phenoxyethanol. The market has further growth prospects in the forecast period as well due to the growing demand for preservatives across its application sectors.
Market Analysis by Type, Application, and Region:
- The phenoxyethanol industry, on the basis of type, is divided into phenoxyethanol P5 and phenoxyethanol P25.
- Based on applications, the market is segmented into personal care, home care, paints and coatings, inks and dyes, and pharmaceutical, among others.
- Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of The Report:
- The market is being driven by the increasing demand for cosmetics in conjunction with the protection of beauty products from any bacterial growth and prolonging the shelf-life of products such as lips and eye make-up, perfumes and deodorants, water-based skin lotions and nail polish removers.
- The industry is further driven by industries such as paints and coatings, pharmaceuticals, health care, soap, and others.
- Some factors, like product innovation by incorporating natural alternatives are expected to create new opportunities in the forecast period for key players.
- Factors like the increasing disposable income, rapid urbanisation, and changing lifestyles are expected to support the phenoxyethanol demand growth.
Key Offerings of the Report:
- The EMR report gives an overview of the global market for phenoxyethanol for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and regional markets of phenoxyethanol.
- It gives an in-depth look at the regional price trends in the global market for phenoxyethanol.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
BASF SE, Clariant International Ltd, Galaxy Surfactants Limited, Clariant Ltd, Galaxy Surfactants Limited, Dow Chemical Company, and Schülke & Mayr GmbH, among others, are the key players in the global phenoxyethanol market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
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