Global Phenoxyethanol Market: Snapshot
Phenoxyethanols are a simple aromatic primary alcohol variety. These ethylene-based phenol ethers and are commercially produced when ethylene oxide reacts with Phenol. Phenoxyethanol is present in rose oil and green tea. It (also known as rose ether) imparts a rose aroma to the end-product. Hence, phenoxyethanol is chiefly used in perfumes and deodorants in the personal care industry. Furthermore, it possesses antibacterial properties, thus making it ideal for usage in the preservation of cosmetics, ointments, detergents, and cleaners.
Phenoxyethanol is largely used as a fragrance component and preservative in several rinse-off and leave-on cosmetic products such as lip and eye make-up, water-based skin lotions, perfumes and deodorants, and nail polish removers. Phenoxyethanol also boasts a broad spectrum of antimicrobial property. Thus, it is widely used in the pharmaceutical industry. Furthermore, phenoxyethanol is used as dye solubilizer and dye carrier in dyes and inks applications. It can also blend with parabens efficiently. This makes it an ideal constituent for preserving cosmetic products. Currently, demand for blends of phenoxyethanol with other preservative compounds is rising significantly.
Transparency Market Research suggests that the global phenoxyethanol market will expand at a CAGR of 4.9% between 2017 and 2025, rising from a valuation of US$170.3 mn in 2016 to US$260.3 mn by 2025.
Homecare Industry to Remain Most Lucrative Throughout Forecast Period
On the basis of application, the home care segment is anticipated to remain attractive during the forecast period due to the increase in demand for phenoxyethanol in the detergent and home-cleaning fluid applications. Phenoxyethanol is utilized in architectural and industrial coatings. It is utilized in several architectural and industrial coatings, as it acts as a solvent. Phenoxyethanol P5 is employed as a coalescent in water-based architectural and industrial coatings. The usage of phenoxyethanol in these coatings improves the appearance and the durability of the coatings.
In 2017, the homecare segment accounted for over 18% of the overall phenoxyethanol market and is expected to go on to account for a larger share in the global market by the end of the report’s forecast period. Usage of phenoxyethanol as an additive in paints is also expected to account for a significant share in the global market by the end of the report’s forecast period, taking up the second spot in terms of share in the global market.
China’s Strong Manufacturing Sector to Help Asia Pacific Retain Top Spot
Of all the key regional markets, the phenoxyethanol industry remains the largest in Asia Pacific, chiefly owing to the dominance of China. The high rate of urbanization encountered in Asia Pacific as well as an increasing awareness about sustainability will drive phenoxyethanol future demand. Most demand for phenoxyethanol comes from home care applications in Asia Pacific, although there is also demand from paints, pharmaceuticals, and inks and dyes among other applications as well.
In terms of consumption, China again leads the phenoxyethanol market as it has a large number of manufacturers of home care and cosmetic products. Hence, it can be noted that the country has substantial captive consumption of phenoxyethanol. ASEAN Countries and Japan have a significant demand for phenoxyethanol as these countries show strong demand from home care and the personal care products. Europe and North America also show promising demand for phenoxyethanol.
Key players in the phenoxyethanol market include The Dow Chemical Company, BASF SE, Lonza, Procter & Gamble Co. (P&G), Clariant, Ashland Inc., Galaxy Surfactants Ltd., Akema Fine Chemicals, Finetech Industry Limited, and Penta Manufacturing Company, LLC.
Global Phenoxyethanol Market: Overview
Phenoxyethanol is an organic chemical compound, a glycol ether often used in dermatological products such as skin creams and sunscreen. It is a colorless oily liquid. It is a bactericide (usually used in conjunction with quaternary ammonium compounds). Phenoxyethanol is used in many applications such as cosmetics, vaccines and pharmaceuticals as a preservative. In addition to cosmetic applications, it is also used as a fixative for perfumes, an insect repellent, a topical antiseptic, a solvent for cellulose acetate, some dyes, inks, and resins, in preservatives, pharmaceuticals, and in organic synthesis. It is important for cosmetic products to be microbiologically stable; that is, even after opening, the contents of the product must remain resistant to microorganisms such as bacteria or yeasts, which can find their way in through the air or via fingers. Water, which is present in most cosmetic products, is a fertile breeding ground for such microorganisms. Thus much of the products require phenoxyethanol as a preservative.
Global Phenoxyethanol Market: Scope of the Study
The report estimates and forecasts the Phenoxyethanol market on the global, regional, and country levels. The study provides forecast between 2017 and 2025 based on volume (tons) and revenue (US$ Thousand) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the phenoxyethanol market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the phenoxyethanol market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of phenoxyethanol market and global average price trend analysis.
The report includes Porter’s Five Forces Model to determine the degree of competition in the Phenoxyethanol market. It comprises qualitative write-up on market attractiveness analysis, wherein products, processes, applications and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw Process availability, profit margin, impact strength, Application, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for phenoxyethanol between 2017 and 2025.
Global Phenoxyethanol Market: Research Methodology
The study provides comprehensive view of the phenoxyethanol market by dividing it into product, application and geography. The phenoxyethanol market has been segmented by application into Personal care, Home Care, Pharmaceuticals, Inks and Dyes, Paints Additive, Architectural and Industrial Coatings, and Others.
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Global Phenoxyethanol Market: Regional Outlook
Regional segmentation includes the current and forecast of Phenoxyethanol in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Key countries such as the U.S., France, Germany, the U.K., China, India, ASEAN, South Africa, Mexico, and Brazil have been included in the study. Market segmentation includes amount of phenoxyethanol consumed by product, process, and application in all the regions and countries.
Global Phenoxyethanol Market: Competitive Outlook
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players in the phenoxyethanol market are The Dow Chemical Company, BASF SE, Lonza, Procter & Gamble Co. (P&G), Clariant, Ashland Inc., Galaxy Surfactants Ltd., Akema Fine Chemicals, Finetech Industry Limited, and Penta Manufacturing Company, LLC. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The Phenoxyethanol market has been divided into the following segments.