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Phenoxyethanol Market report also sheds light on supply chains and the changes in the trends of the upstream raw materials and downstream distributors.

NEW YORK, NY, UNITED STATES, June 2, 2023/EINPresswire.com/ -- The global market for phenoxyethanol had a value of USD 121.4 million in 2022. It is projected to reach USD 187.3 million by 2032, with a compound annual growth rate (CAGR) of 4.2% during the forecast period. The primary driver behind the revenue growth in the market is the increasing demand for phenoxyethanol in the cosmetics and personal care industry. Phenoxyethanol is utilized as a preservative in these sectors to protect products from bacterial and fungal growth, ensuring their quality and safety.

Consumers are becoming more aware of the negative impacts of artificial preservatives like parabens and formaldehyde, leading to a higher demand for natural and safer alternatives like phenoxyethanol. This trend is expected to continue driving the phenoxyethanol market in the coming years. Additionally, the market revenue is rising due to the expanding food and beverage sector, where phenoxyethanol is used as a preservative to prevent microbial spoilage and extend the shelf life of products such as sauces, dressings, and snacks.

Phenoxyethanol is also an important component in formulations for topical and parenteral applications in the pharmaceutical industry. The increasing prevalence of skin diseases and disorders, along with the demand for effective and safe topical therapies, is driving the demand for phenoxyethanol in the pharmaceutical sector.

Furthermore, the market is growing due to the rising demand for phenoxyethanol as a solvent in the production of inks, dyes, and resins. Its versatility as a solvent and compatibility with various organic and inorganic chemicals make it an excellent choice for many industrial products.

However, the growth of the phenoxyethanol industry is expected to be hindered by the availability of natural and organic preservatives as alternatives, as well as strict regulations governing the use of preservatives in cosmetics and personal care products.

The COVID-19 pandemic had a significant impact on the phenoxyethanol market, disrupting the supply chain and causing a slowdown in demand. The closure of manufacturing plants and distribution lines resulted in a shortage of phenoxyethanol in the market.

The Asia Pacific region dominates the phenoxyethanol market due to its presence in various end-use sectors, including cosmetics, personal care, and food and beverage industries. Countries such as China, Japan, and India are driving the growth of the region in terms of phenoxyethanol consumption.

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Major Companies and Competitive Landscape:

• BASF SE
• Dow Chemical Company
• Symrise AG
• Clariant AG
• Lonza Group
• Ashland Global Holdings Inc.
• Galaxy Surfactants Ltd.
• Akema Fine Chemicals
• Thor Group Limited
• Schülke& Mayr GmbH

Factors Influencing the Phenoxyethanol Market

Several factors impact the phenoxyethanol market. These factors can either drive its growth or pose challenges to its development. The following are the key factors affecting the phenoxyethanol market:

1. Increasing Demand in Cosmetics and Personal Care: The rising demand for phenoxyethanol in the cosmetics and personal care sector is a significant driver for market growth. Phenoxyethanol serves as a preservative in these industries, ensuring product quality and safety by preventing bacterial and fungal growth.
2. Shift towards Natural and Secure Alternatives: Customers are becoming more aware of the negative consequences associated with artificial preservatives like parabens and formaldehyde. This awareness has led to an increased demand for natural and secure substitutes like phenoxyethanol. This trend is expected to continue supporting the growth of the phenoxyethanol market.
3. Growing Food and Beverage Sector: The development of the food and beverage industry has contributed to the rising use of phenoxyethanol as a food preservative. It helps prevent microbiological deterioration and extends the shelf life of food products such as sauces, dressings, and snacks.
4. Pharmaceutical Industry Applications: Phenoxyethanol plays a vital role in topical and parenteral formulations within the pharmaceutical industry. The increasing prevalence of skin diseases and disorders, coupled with the demand for efficient and safe topical therapies, is driving the demand for phenoxyethanol in this sector.
5. Industrial Applications: Phenoxyethanol's versatility as a solvent and compatibility with various organic and inorganic chemicals make it a preferred choice in the production of inks, dyes, and resins. The rising demand for phenoxyethanol as a solvent contributes to its market growth in industrial applications.
6. Availability of Natural and Organic Alternatives: The availability of natural and organic preservatives as alternatives to synthetic ones poses a challenge to the phenoxyethanol market. Consumers' preference for natural ingredients and the demand for clean label products may impact the market growth of phenoxyethanol.
7. Regulatory Constraints: Strict regulations governing the use of preservatives in cosmetics and personal care products can pose challenges to the phenoxyethanol market. Compliance with regulatory standards and ensuring product safety and efficacy may require additional efforts from manufacturers.
8. Impact of the COVID-19 Pandemic: The COVID-19 pandemic has disrupted global supply chains and resulted in a slowdown in demand for phenoxyethanol. Manufacturing plant closures and disruptions in distribution lines have affected the availability of phenoxyethanol in the market.

Understanding these factors and their influence on the phenoxyethanol market is essential for businesses and stakeholders to make informed decisions and strategize effectively.

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Segments covered in the report:

Segments covered by Product Outlook, Application Outlook, Regional Outlook

By Product Type Outlook

• Liquid
• Solid

By Application Outlook

• Preservatives
• Fragrances
• Solvents
• 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)

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