Increasing adoption of Phenoxyethanol as a replacement of parabens, rising demand from the cosmetics industry due to its excellent anti-fungal, low toxicity and stability properties coupled with growing applications in various end-use industries, are key factors contributing to a high CAGR of the Phenoxyethanol market during the forecast period.
Phenoxyethanol Market Size – USD 143.56 Million in 2021, Growth - CAGR of 5.23%, Trends – increasing demand from cosmetics applications widening the scope for Phenoxyethanol market
According to the current analysis of Reports and Data, the global Phenoxyethanol Market was valued at USD 143.56 Million in 2021 and is expected to reach USD 225.61 Million by the year 2030, at a CAGR of 5.23%. Phenoxyethanol prevent any biological activity by conjoining with the bacterial cell wall. As a result, it is highly effective against gram-positive and gram-negative bacteria. These antimicrobial properties against mold formation, bacteria, and yeast are expected to be one of the factors propelling the growth of the global market in the coming years. Phenoxyethanol is used in manufacturing as preservative blends by adding it to other preservatives such as capryl glycol, ethylhexylglycerin, or hexylene glycol. There have been observations that though microorganisms can adapt to any environment, they are unable to adapt to the presence of Phenoxyethanol, which is a factor contributing to the high demand for these preservatives from the cosmetics industry.
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Top Companies: BASF SE, Schülke Mayr GmbH, Symrise AG, Akema Fine Chemicals S.r.l., Dow Dupont Inc., Galaxy Surfactants Ltd., Clariant AG, Ashland Global Holdings Inc., Lonza Group AG, Santa Cruz Biotechnology, Inc., Liaoning Kelong Fine Chemical Co. Ltd., Penta Manufacturing Company, Zhejiang Shengxiao Chemicals Co. Ltd., Thor Personal Care SAS, and Finetech Industry Limited among others
Further Key Finding from the Report Suggestion:
- As of 2020, phenoxyethanol P5 is the leading type segment of the global Phenoxyethanol This segment is projected to register the fastest growth with the highest CAGR of 5.2% during the forecast period due to its rising preference in cosmetics end-use applications
- The phenoxyethanol P25 type Phenoxyethanol segment has also shown the significant growth trend in 2020 and is expected to maintain the position during the forecast period
- The home personal care application of Phenoxyethanol accounted for the most significant market share in of 46.2% in 2020. It is projected to maintain its lead with a significant CAGR during the forecast period
- The pharmaceuticals application segment is the fastest-growing segment, registering the highest CAGR of 6.4% followed by the home personal care segment which held the chief position in the Phenoxyethanol market
- The Asia-Pacific region accounted for the most significant market share of 38.4% in 2020. This region is proposed to remain the dominant regional segment with a significant CAGR during 2020-2028. The China country is the fastest-growing economy, which is projected to drive the global Phenoxyethanol market.
- Both North America and Europe regions are forecasted to show significant growth over the coming years
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Phenoxyethanol Market is segmented into:
Product Outlook (Revenue, USD Million; 2019-2030)
- Phenoxyethanol P5
- Phenoxyethanol P25
Application Outlook (Revenue, USD Million; 2019-2030)
- Home and Personal Use
- Pharmaceuticals
- Dyes and Inks
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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