Benzyl Alcohol Market Overview by Industry Chain Information, Upstream Raw Materials & Downstream Industry
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Benzyl Alcohol Market Trends – Growing consumer demand for benzyl alcohol as a preservative in skin creams in place of paraffin
VANCOUVER, BC, CANADA, January 24, 2023 /EINPresswire.com/ -- The global benzyl alcohol market size was USD 57.20 Million in 2021 and is expected to register a revenue CAGR of 4.2% during the forecast period, according to latest analysis by Emergen Research. Rising demand for benzyl alcohol as an anti-parasite medication and popular preservative in injectable pharmaceutical drugs, growing use of benzyl alcohol in paints and coatings, and growing consumer demand for benzyl alcohol as a preservative in skin creams in place of paraffin are primarily factors driving market growth of the benzyl alcohol market. The global market for benzyl alcohol is predicted to increase significantly over the next 10 years due to vast number of industries where the chemical is used as an ingredient, particularly in paint & coatings and cosmetics industries. A growing number of people are using commercially produced personal goods that have the chemical as an active element. Additionally, elderly people require ongoing medical assistance in the form of intravenous drugs that contain benzyl alcohol as a preservative. Benzyl alcohol can be used to make a wide variety of products due to its low toxicity and volatility including paints and coatings, taste and fragrance, personal care items, and pharmaceuticals. Other applications for benzyl alcohol include degreasing, polyamide dyeing, and bonding aid. In addition, benzyl alcohol is increasingly being used in cosmetics and personal care products due to its pleasant flavor and texture, which will rise of benzyl alcohol market's revenue.
The latest report, titled ‘Global Benzyl Alcohol Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Benzyl Alcohol market scenario. The research report provides the reader with an in-depth interpretation of the Benzyl Alcohol market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Benzyl Alcohol industry. The market intelligence report is a prototype of the 360° overview of the global Benzyl Alcohol industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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Competitive Terrain:
The global Benzyl Alcohol industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The Leading Market Contenders Listed In The Report Are:
Hubei Greenhome Materials Technology, Inc., Merck KGaA, Valtris Specialty Chemicals Limited, Finar Limited, Greenfield Global Inc., INEOS Group Ltd., Elan Chemical Company, Inc., Alfa Aesar, Wuhan Youji Industries Co., Ltd., and Lanxess Aktiengesellschaft.
Some Key Highlights From the Report
The paints & coatings segment is expected to grow at a steady CAGR during the forecast period. Benzyl alcohol functions as a solvent and is an ingredient in lacquers, paints, epoxy resin coatings, and inks. Benzyl alcohol is the active component of several paint strippers because it works well as a solvent for coatings including paint, shellac, and lacquer. In addition, benzyl alcohol is a powerful solvent that is free of dangerous air pollutants when coupled with a viscous material to assist it adhere to coatings. Paint strippers that don't include Hazardous Air Pollutants (HAPs), such as methylene chloride paint strippers, are being replaced with benzyl alcohol and benzyl alcohol blends. In particular, it has been discovered that benzyl alcohol works well on standard aviation coatings (e.g., epoxy primer and polyurethane topcoat). These are major factors driving revenue growth of this segment.
The epoxy resins segment accounted for a significant revenue share in 2021. In compositions comprising cured epoxy, benzyl alcohol is a typical nonreactive ingredient. Benzyl alcohol is a key element in many chemical compounds used in the construction industry. It is utilized in paint strippers, epoxy resin systems, and cleaning products having a stripping effect due to its lower volatility and relatively high boiling point of 205 °C. Benzoyl alcohol also promotes flow by acting as a diluent, a viscosity reducer, and other similar functions because it is miscible with reactive elements. The hazardous substance information system of German legal accident insurance for the construction industry (BG BAU), GISBAU1, has determined exposure to benzyl alcohol when applying these products at construction sites, due to the material's significance for epoxy resin coatings, in the construction industry.
The Europe market accounted for a significant revenue share in 2021. This is attributed to rising government initiatives and regulations regarding use of benzyl alcohol as excipients in medical products and also for evaluating safety and efficacy of benzyl alcohol product applications in various end-use industries, which are also contributing significantly to demand for benzyl alcohol, hence driving revenue growth of the market in this region. For instance, on 9 October 2017, the European Medicines Agency (EMA) approved use of benzoic acid and benzyl alcohol as excipients and are primarily used as solubilizing agents and/or preservatives in medicinal products, hence driving revenue growth of the market in this region.
On 24 November 2021, Valtris Specialty Chemicals Limited announced expand its production of benzoyl chloride in Europe. Valtris Advanced Organics, a manufacturer of chlorinated toluene derivatives utilized in a variety of end markets such as agrochemicals, pharmaceuticals, construction, and automotive, serves clients globally from its three manufacturing facilities.
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Emergen Research has segmented the global benzyl alcohol market based on grade, application, end-use and region:
Grade Outlook (Revenue, USD Million; 2019-2030)
Industrial Grade
Food Grade
Pharmaceutical Grade
Others
Application Outlook (Revenue, USD Million; 2019-2030)
Cleaning Agent
Synthetic Solvent
Epoxy Resins
Bacteriostatic Preservatives
Dielectric Solvent
Others
End-Use Outlook (Revenue, USD Million; 2019-2030)
Food & Beverages
Pharmaceutical
Paints & Coatings
Cosmetics & Personal Care
Others
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/benzyl-alcohol-market
Report Highlights:
Besides offering a vivid depiction of the global Benzyl Alcohol business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Benzyl Alcohol Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Benzyl Alcohol Market Size Worth USD 85.41 Million in 2030
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