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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:
Key Findings of The Report:
Key Offerings of the Report:
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.
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