Phenoxyethanol Market Size, Share, Growth, and Industry Analysis, By Type (bactericides, preservatives, ugnicides, fixative and enesthetic agents), By downstream industry (power & electricity, metals, cement, chemicals and others) and Regional Forecast to 2032

Updated On: 04 November 2024

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PHENOXYETHANOL MARKET REPORT OVERVIEW

The Phenoxyethanol Market Size was Valued at US$ 83.02 Million in 2023. The Market is likely to Surpass US$ 121.37 Million by 2032 at a CAGR of 3.87% During the Forecast period [2024-2032].

The market of phenoxyethanol is characterized by preserving cosmetics, medications and care products. Evaluation of the product’s shelf and stability. As the consumer demand of the cosmetic sector, the consumer demand of sustainable products has increased, although there is a remarkable change in natural and biological alternatives. The COVID-19 pandemic has further influenced the market by inspiring the demand for infectious and disinfectants while disturbing supply chains and material deficiency. These factors that incorporate growth control monitoring, form the landscape of the market and encourage growth.

COVID-19 impact: Challenges in supply chain During Pandemic Hampered the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 was a versatile impact on phenoxyethanol. In order to increase the demand for manual merchants and disinfectants in the pandemic, phenoxyethanol was instinct to ensure the stability and efficiency of the product. On the other hand, the pandemic disturbed global supply chains that result in the lack of raw materials and production delays. In addition, there were more attention to health and safety, which has been accelerated by the control of chemicals, including phenoxyethanol. As a result, pandemic confirmed the specific aspects of the market, but also the challenges related to the stability and control of the supply chain.

LATEST TRENDS

"Shifts in demand and regulatory changes are emerging trends in the market"

There are a lot of remarkable trends in the phenoxyethanol market. On the cosmetic side, demand is greater due to its effective preservation properties that help extend the product shelf life. However, there is growing consumer switching toward more natural and less synthetic ingredients, pure alternatives. In addition, regulatory authorities update their safety standards that require enhanced transparency and assure compliance. The role of phenoxyethanol in the pharmaceutical industry increases, especially in improving stability and efficiency of vaccines and other health products. These trends will highlight the market for variable preferences and innovations.

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PHENOXYETHANOL MARKET SEGMENTATION

By Type

Based on type, the global phenoxyethanol market can be segmented into bactericides, preservatives, ungicides, fixative and anesthetic agents.

• Bactericides: used to kill bacteria and prevent infection.

• Preservatives: product helps extend the shelf life by avoiding spoilage

• Ungicides: used in treating fungal infections

• Fixative: in perfumes, it plays the role of fixing, hence stabilizing and improving the odor.

• Anesthetic agents: it acts as an anesthetic in various fields.

By Downstream Industry

Based on downstream industry, the global phenoxyethanol market can be segmented into vaccines, other pharmaceuticals products and cosmetics.

• Vaccines: It is used to store and stabilize vaccines.

• Other pharmaceuticals products: It helps formulate a line of medicines.

• Cosmetics: It is a common ingredient in beauty products where it provides preservation and stability.

DRIVING FACTORS

"Technological developments to boost market growth"

Innovation is an important role in the world market. Intelligence and digital technologies increase productivity, efficiency and product development. These technologies allow businesses to simplify their business, reduce costs and create new market opportunities that increase competitiveness and extension.

"Increasing population and higher disposable income to promote market growth"

The growing consumer demand that the growing population, the higher price income and variable preferences are guided to significantly encourage the growth of the market. As consumers are looking for advanced, personalized and sustainable products and services, businesses are forced to innovation and adapt their offer. This increases demand for the market and encourages research, development and infrastructure to meet the needs of consumers.

RESTRAINING FACTORS

"Regulatory challenges and compliance costs may hinder market expansion"

strict regulation and compliance requirements are important limit factors for global market growth. Businesses often face complex and different regulation standards in different regions, which leads to higher operating costs, long approval procedures and additional administrative fields. In particular, this Regulation may be challenging for the internationally operated companies, potentially slowing the market access, increasing the production costs and limitation of the general market distribution.

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PHENOCYETHANOL MARKET REGIONAL INSIGHTS

The market is primarily segmented into Europe, Latin America, Asia-Pacific, North America, and Middle East & Africa.

"Asia-Pacific dominates the market due to rapid industrialization and population growth"

The Asia Pacific region leads in the phenoxyethanol market share for various reasons. This region has an essential and growing industrial base, impelled by countries like China, Japan, and India that are critical centers for production and chemical production. Also, increasing population and rapid urbanization in these countries lead to increased demand for several industrial products and solutions. In addition, the enabling public policy, investment in infrastructure, and emphasis on sustainable development make this region a global market leader. The easy availability of raw materials and relatively lower labor cost also played a crucial role in establishing the Asia Pacific as the prominent market region.

KEY INDUSTRY PLAYERS

"With innovation and strategic collaborations key market players maintain their leadership"

Players in the business work hard to stay glued to their respective positions on the market through innovation, sustainability, and strategic partnerships. Huge investment is made in research and development for the launching of eco-friendly products and for the betterment of existing products so that they are enabled to serve the rising demand of consumers with regards to sustainability. They are using digital technologies in a bid to optimize supply chains and customer engagement for enhanced efficiency and reduced costs. On the other hand, companies are entering into mergers and joint ventures to further enhance market presence and global expansion. All this reflects a coherent effort that portrays the commitment of the industry toward keeping pace with changing consumer behavior and evolving regulatory environments.

LIST OF MARKET PLAYERS PROFILED

• N V Organics (India)
• Hangzhou Uniwise (China)
• Liaoning Kelong Fine Chemical (China)
• Chemsynth (India)
• BASF (Germany)
• Yingkou Tanyun Chemical Research Institute (China)
• Zhejiang Weishi Biotechnology (China)
• Mitsubishi Chemical (Japan)
• Triveni Interchem (India)

INDSUTRIAL DEVELOPMENT

March 2024: BASF launched a new series of coatings that are eco-friendly and high quality for the automotive sector. This shall ensure less harm to the environment while developing the sustainability and aesthetic value of the respective entity. Moreover, they have increased their capacity production at Ludwigshafen for boosting and meeting the demand made for sustainable solutions by different industries.

REPORT COVERAGE

It will see growth in the global phenoxyethanol market. One of the major driving factors for these products is the growing demand from cosmetics, medicines, and personal care products. On the other side, some of the trends identified in this industry are growing demand for cosmetics, a tilt towards natural ingredients; then, there is the COVID-19 crisis that has stepped up demand for sanitizers and has broken supply lines. The growth drivers are technological development and consumer demand. The most important limitations include regulatory hurdles and compliance cost. The dominant region is the Asia Pacific, driven by industrial growth and population growth; key actors focus on innovation and strategic cooperation.