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Global Phenoxyethanol Market it is anticipated to reach at market value of US$ 173.6 Bn by 2027
Bizizz Market Research has recently published a research report, “Phenoxyethanol Market by Application (Disinfectant, Sanitizer, Sterilant, and Others) by Grade (Distilled grade and Solution grade) by End-Use Industry (Paper & pulp, Healthcare, Water Treatment, Food & Beverages, and Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Phenoxyethanol Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 173.6 Bn by 2027, witnessing a CAGR of 5.2 % during the forecast period. Key drivers of the market are growth in homecare products and increasing income per capita.
Phenoxyethanol is used in several cosmetic and personal care products including lipsticks, water-based skin creams, eye make-up, scents and deodorants, and nail polish removers. With the increasing purchasing power and rising demand for beauty products, the phenoxyethanol market is witnessing a rapid growth. The chemical guard these products against bacterial development and increase their shelf life
The Phenoxyethanol Market Is Anticipated To Register A CAGR Of Over 5.2 % During The Forecast Period.
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Adverse Effects of Phenoxyethanol Rising Awareness Regarding Harmful Effects of Synthetic Beautifying Elements Might Hamper the Market Growth
The stringent regulations issued by regional ang international government intended to limit the consumption of phenoxyethanol might hamper the market growth. Excessive use of this chemical may cause to issues like diarrhea and vomiting. Moreover, rising concern regarding harmful effects of synthetic beauty products which is promoting the adoption of organic elements in these products. This might limit the growth of global phenoxyethanol market in forthcoming years.
North America Is Anticipated To Hold Prominent Share During the Forecast Period
In terms of region, Europe is anticipated to lead the global market over the forecast period. The region occupied 33.0 % share in 2018. The growth of the region can be attributed to rising demand for body care and skin care products in U.S. and Canada. Moreover, presence of prominent players in the region is anticipated to create growth opportunities for phenoxyethanol market in North America.
The global market is fragmented with few global and several local players. The players operating in global market are adopting several strategies intended to occupy large percentage of market share. The companies are continuously collaborating with local players to expand their network across the globe.
Prominent players operating in the Global Phenoxyethanol Market are: Thor Personal Care, Akema Fine Chemicals, Ashland Global Holdings, Clariant AG, Lonza Group AG, Galaxy surfactants, Dow Dupont, Schülke & Mayr GmbH, BASF SE, and Symrise AG, among others.
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