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Global Industrial Benzyl Alcohol Market Size, Growth, Analysis, Research: By Product: Solid, Powder, Liquid, Others; By End Use: Personal Care, Food and Beverages, Pharmaceutical, Paints and Coatings, Others; By Application: Coating Solvent, Others; Regional Analysis; Competitive Landscape: Industry Events and Developments; 2023-2028
Global Industrial Benzyl Alcohol Market Outlook
The global industrial benzyl alcohol market size stood at a value of around USD 220 million in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 3.90% to reach USD 276.8 million by 2027.
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Increasing Demands from the Pharmaceutical Sector is Driving the Global Industrial Benzyl Alcohol Industry
Liquid benzyl alcohol solution with 10% concentration of the compound is utilised as a local anaesthetic and as an anti-microbial agent. In this regard, the product is witnessing a heightened demand from the healthcare sector. Over the forecast period, the benzyl alcohol lotion is likely to gain traction in the pharmaceutical industry owing to its anti-lice properties. The compound is helpful in various hair and scalp medications.
Meanwhile, benzyl alcohol is utilised as a solvent in the production of epoxy resin coatings and inks, which is a crucial driving factor of the market. Liquid benzyl alcohol is also a crucial ingredient in the manufacture of perfumes. Hence, the increasing demand for perfumes is likely to propel the industrial benzyl alcohol market in the coming years.
Asia Pacific Region Accounts for a Substantial Market Share for Industrial Benzyl Alcohol
The market in the Asia Pacific region is being driven by the strong supply chain of the product owing to the heightened demand from the pharmaceutical and food and beverage industries. The large population base in the emerging economies such as India and China is likely to generate a high demand for the downstream cosmetic products of benzyl alcohol. This factor is further contributing to the market growth.
Over the forecast period, the strong foothold of major paints and coating suppliers in the region is likely to be a key driving factor, owing to rapid urbanisation and the thriving industrial construction sector. The increasing consumption of adhesives, sealants, and pharmaceutical products in China is likely to lead to an increased demand for industrial benzyl alcohol in the near future.
Market Segmentation
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Industrial benzyl alcohol is defined as a colourless aromatic alcohol which has a pleasant odour. It has a burning taste and is generally used as a flavouring agent in foods. The compound is procured by hydrolysing benzyl chloride. It is marginally denser than water and is used extensively in the industrial sector.
Based on product, the industrial benzyl alcohol market can be segmented into:
- Solid
- Powder
- Liquid
- Others
By end use, the market has been divided into:
- Personal Care
- Pharmaceutical
- Food and Beverages
- Paints and Coatings
- Others
On the basis of application, the market has been categorised into:
- Coating Solvent
- Stabiliser
- Medicine Preservatives
- Resin Solvent
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Heightened Growth of the Personal Care Sector Sector to Boost the Growth of the Industrial Benzyl Alcohol Industry
Benzyl alcohol is used in bath products, baby products, soaps and detergents, and skincare products, among others. Hence, the heightened growth attained by the personal care sector is driving the demand for the industrial benzyl alcohol market. In addition to this, the growing research and development activities aimed towards developing high-quality skin and hair care products is generating significant growth opportunities for the product.
In the coming years, the increasing use of benzyl alcohol in the food and beverage industry as a food flavouring agent in various cuisines is anticipated to increase the utilisation of the product in food service platforms such as restaurants and hotels.
Benzyl alcohol is also known to increase the shelf life of food substances. Therefore, the anticipated increase in packaged mushrooms, cranberries, and honey, among others, is likely to contribute to the market growth in the coming years. The increasing application of the compound in paints and coatings is likely to bolster the market growth owing to the thriving construction industry.
Key Players in the Global Industrial Benzyl Alcohol Market
The report gives a detailed analysis of the following key players in the global market for industrial benzyl alcohol, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- LobaChemie Pvt. Ltd.
- Merck KGaA
- Malhotra Organic Ltd.
- Greenfield Global Inc.
- LANXESS AG
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by End Use |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Price Analysis |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Application
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Benzyl Alcohol Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Benzyl Alcohol Historical Market (2018-2022)
8.3 Global Industrial Benzyl Alcohol Market Forecast (2023-2028)
8.4 Global Industrial Benzyl Alcohol Market by Product
8.4.1 Solid
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Powder
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Liquid
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Industrial Benzyl Alcohol Market by End Use
8.5.1 Personal Care
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Food and Beverages
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Pharmaceutical
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Paints and Coatings
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Industrial Benzyl Alcohol Market by Application
8.6.1 Coating Solvent
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Stabiliser
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Resin Solvent
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Medicine Preservatives
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Industrial Benzyl Alcohol Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Industrial Benzyl Alcohol Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Industrial Benzyl Alcohol Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Industrial Benzyl Alcohol Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Industrial Benzyl Alcohol Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Industrial Benzyl Alcohol Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 290621)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 LobaChemie Pvt. Ltd.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Merck KGaA
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Malhotra Organic Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Greenfield Global Inc.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 LANXESS AG
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Industrial Benzyl Alcohol Market: Key Industry Highlights, 2018 and 2028
2. Global Industrial Benzyl Alcohol Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Industrial Benzyl Alcohol Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Industrial Benzyl Alcohol Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Industrial Benzyl Alcohol Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Industrial Benzyl Alcohol Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Industrial Benzyl Alcohol Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Industrial Benzyl Alcohol Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Industrial Benzyl Alcohol Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Industrial Benzyl Alcohol Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Industrial Benzyl Alcohol Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Industrial Benzyl Alcohol Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Industrial Benzyl Alcohol Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Industrial Benzyl Alcohol Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Industrial Benzyl Alcohol Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Industrial Benzyl Alcohol Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Industrial Benzyl Alcohol Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Industrial Benzyl Alcohol Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Industrial Benzyl Alcohol Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. Major Importing Countries by Value
23. Major Exporting Countries by Value
24. North America Historical Price Trends and Forecast 2018-2028
25. Europe Historical Price Trends and Forecast 2018-2028
26. Asia Pacific Historical Price Trends and Forecast 2018-2028
27. Latin America Historical Price Trends and Forecast 2018-2028
28. Middle East and Africa Historical Price Trends and Forecast 2018-2028
29. Global Industrial Benzyl Alcohol Market Structure
Key Questions Answered in the Report
In 2021, the global market attained a value of nearly USD 220 million.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 276.8 billion by 2027.
The market is estimated to grow at a CAGR of 3.90% between 2023 and 2028.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising application of benzyl alcohol in variety of products including paints and coatings, adhesives and sealants, cosmetics, and pharmaceuticals, increasing utilisation of the product as a local anaesthetic, and the thriving food and beverage industry.
The increasing competition between the major hair and skincare care companies leading to heightened research and development activities are likely to be the key trends in the market.
Solid, powder, and liquid, among others are the are the different products based on which the market has been divided.
Personal care, food and beverages, pharmaceutical, and paints and coatings, among others is the segmentation of market based on end use.
Coating solvent, stabiliser, resin solvent, and medicine preservatives, among others are the different applications considered in the market report.
The major players in the industry are LobaChemie Pvt. Ltd., Merck KGaA, Malhotra Organic Ltd., Greenfield Global Inc., and LANXESS AG, among others.
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