NEW YORK, April 6, 2022 /PRNewswire/ — The global benzyl alcohol market size is expected to reach $87.1 million in 2030 and record a revenue CAGR of 4.3% over the forecast period, according to a latest report from Reports and Data. The increasing use of benzyl alcohol in hair care products and as antimicrobial preservatives are key factors expected to drive the market revenue growth over the forecast period. Rising demand for benzyl alcohol in the construction industry is expected to drive the market between 2022 and 2030. Benzyl alcohol is widely used in hair care products such as hair oils, conditioners and shampoos to treat wrinkles formed in the hair. This is increasing its usage in hair care products which is expected to drive the market revenue growth. Benzyl alcohol is also widely used in the construction industry in adhesives, sealants, paints and coatings to improve product texture, fragrance and shelf life. This is another factor that is increasing its adoption in the construction industry and is expected to drive the market revenue growth. Additionally, the increasing use of benzyl alcohol as an antimicrobial preservative inhibits bacterial growth.
However, concerns regarding side effects associated with benzyl alcohol and toxic effects of benzyl alcohol might hamper the market revenue growth. Additionally, overdose while using benzyl alcohol could lead to long reaction period, slow healing and low efficacy which could hamper the market revenue growth.
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Some highlights of the report
- The bacteriostatic preservative segment is expected to register a steady growth rate in revenue over the forecast period. The increasing use of bacteriostatic preservatives in low concentration intravenous preparations, cosmetics and topical medications is expected to drive the growth of the segment.
- The cosmetics and personal care segment is expected to witness a steady revenue growth rate over the forecast period. The increasing use of benzyl alcohol in cosmetics and personal care products to enhance the aromatic smell of products is driving the revenue growth of the segment. Benzyl alcohol is also used because of its preservative properties, which help products increase their shelf life, thus increasing its demand in cosmetics and personal care products.
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- The market in Asia Pacific is expected to register a considerable revenue CAGR during the forecast period. Rising adoption of benzyl alcohol due to its organically forming properties from plants and fruits is driving the revenue growth of benzyl alcohol market. The rapid growth of the pharmaceutical industry is increasing the demand for benzyl alcohol in the countries in the region, which is expected to propel the market revenue growth.
- Companies profiled in the global market report include Elan Chemical Company, Inc., Alfa Aesar, Merck KGaA, Valtris Specialty Chemicals Limited, Lanxess India Private Limited, Wuhan Biet Co., Ltd., Finar Limited, Hubei Greenhome Fine Chemical Co. ., ltd. ., INEOS Group Ltd. and Greenfield Global UNITED STATESInc.
- In December 2021, Finar Limited introduced a range of high purity solvents for HPLC and LCMS applications from Duksan Pure Chemicals, a leading laboratory chemicals company in South Korea. The range includes Acetonitrile and Methanol in LC-MS and Supra Gradient Grade.
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For the purposes of this report, Reports and Data has segmented the global benzyl alcohol market based on grade, application, end-use, and region:
- Quality Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Food grade
- Industrial level
- Pharmaceutical grade
- Application Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Cleaning agent
- Synthetic solvent
- Epoxy resins
- Bacteriostatic preservative
- End-Use Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Food and drinks
- Paints and coatings
- Cosmetics and personal care
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- Regional Outlook (Revenue, Million USD, Volume, Kilo Tons; 2019-2030)
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
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