- The global anisole market has been expanding significantly due to key advancements in various end-use industries. High solubility of anisole in toluene, diethyl ether, chloroform, and benzene is a key reason behind the popularity of the compound in the chemical industry. Furthermore, growth in the number of chemical experiments that are conducted across a wide array of industries has also been a vital factor driving the demand for anisole across the globe. Anisole is an organic compound that is also referred to as methoxybenzene. Its chemical formula is CH3OC6H5. Anisole is used as a key intermediate product in various industries; therefore, demand for anisole is projected to keep rising in the next few years. Thus, the global anisole market is projected to expand substantially in the next few years.
Key Drivers and Restraints of Global Anisole Market
- Demand for anisole has been rising due to the popularity of the compound in several industries. The use of anisole in the manufacture of perfumes and cosmetic products is a major driver of the global anisole market. Demand for anisole has been rising due to the high propensity of the masses toward personal grooming, wellness, and self-care products. Furthermore, anisole is an effective insect pheromone. This is also a key driver of the global anisole market. The manufacture of dyes also involves the use of anisole. Rise in usage of anisole in the pharmaceutical industry is also estimated to boost the anisole market.
- Growth of cosmetics, pharmaceutical, and dyes industries is expected to boost the global anisole market. Besides this, the efforts of governments to fortify the pharmaceutical industry are projected to propel the global anisole market in the next few years. Furthermore, the perfume market is expanding at a rapid pace. This is likely to augment the global anisole market.
Anisole: Application Segment
- In terms of application, the global anisole market can be segmented into pharmaceuticals, perfumes, cosmetics, food & beverages, dyes, and others
- The pharmaceuticals segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the perfumes segment.
- The cosmetics segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in population and change in lifestyle across the globe
Covid-19 Impact on Anisole Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the anisole market.
Europe to Dominate Anisole Market
- In terms of region, the global anisole market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe dominated the global anisole market in 2020. This trend is anticipated to continue during the forecast period owing to the higher production and consumption of anisole in the region. The anisole market in North America is anticipated to expand at a rapid pace owing to the increase in demand for anisole for pharmaceuticals in the region.
Key Manufacturers Operating in Global Anisole Market
The global anisole market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global anisole market include:
- Merck & Co., Inc.
- Atul Ltd
- Benzo Chem Industries
- Surya Life Sciences Ltd.
- Westman Chemicals Pvt. Ltd.
- Emmennar Chem
- Camlin Fine Chemicals
- Evonik Industries AG.
- Kessler Chemical, Inc.
- Shaanxi Top Chemical Co., Ltd.
- Yasho Industries Pvt., Ltd.
Global Anisole Market: Research Scope
Global Anisole Market, by Application
- Food & Beverages
Global Anisole Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.