The global benzyl alcohol market is expected to grow at a CAGR of more than 5% during the period 2017-2021, according to a new market research study by Technavio.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171203005067/en/
Technavio has published a new market research report on the global benzyl alcohol market from 2017-2021. (Graphic: Business Wire)
The report categorizes the global benzyl alcohol market by end-user that comprises of paints and coatings, personal care, and pharmaceutical. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
Market driver: role of benzyl alcohol as a preservative and flavoring agent
Benzyl alcohol is used as a flavoring agent in food and beverages. It increases the shelf life of food products, and therefore, it is popularly used in the food and beverage industry. The emergence of new business models is expected to transform the entire food retail scenario. This will increase the demand for processed food and beverages. Busy lifestyles and change in food habits fuel the demand for ready-to-eat meals.
According to Kurva Samba Sivudu, a lead analyst at Technavio for specialty chemicals research, "Benzyl alcohol is usually used as a taste enhancer in processed and ready-to-eat food products. The rise in the demand for processed foods is expected to increase the demand for benzyl alcohol. It is derived from plants and lends a natural flavor to candies, jellies, and marshmallows in the confectionery segment."
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: increasing use of benzyl alcohol in personal care products
Benzyl alcohol is used as a preservative in personal care products and cosmetics such as body lotions, sunscreens, shampoos, soaps, and hair care solutions. It is derived from organic sources and therefore, it is in high demand. The rising demand for perfumed lotions and other fragrant products has increased the customer base of benzyl alcohol. Organic sources of benzyl alcohol such as the plants and flowers, help to combat aging and rejuvenate skin and hair. Growing focus on skin and hair has fueled the demand for natural products. Increasing awareness about the side effects of parabens and silicones is driving the demand for benzyl alcohol in eye-shadows, face creams, wrinkle-free creams, and other night creams.
Market challenge: availability of substitutes
Availability of substitutes such as ethyl alcohol, phenoxyethanol, isopropyl alcohol, and toluene pose challenges to the global benzyl alcohol market. Phenoxyethanol is easily available and inexpensive and is thus used in cosmetics and personal care products. Ethyl alcohol is used as a preservative in the F&B industry. It is extracted from natural resources and by fermentation of food crops such as sugarcane, corn, and beetroot. Toluene is used as a solvent in the paints and coatings industry.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Key vendors in the market
- Emerald Performance Materials
- Gujarat Alkalies and Chemicals
- INEOS
- LANXESS
- Merck
The global benzyl alcohol market is highly concentrated by a few multinational players. Emerald Performance Materials, Gujarat Alkalies and Chemicals, INEOS, LANXESS, and Merck are some of the key vendors in the market. The threat of new entrants is relatively low because of high investments required for setting up manufacturing plants.
Get a sample copy of the global benzyl alcohol market report free of cost
Access Technavio's continuously growing specialty chemicals research library and find expert analysis on hundreds of markets.
About Technavio
Technaviois a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171203005067/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com