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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.
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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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