Phenoxyethanol Preservatives Market Insights, 2014-2020

Global Phenoxyethanol Preservatives Market: Overview

The global phenoxyethanol preservatives market is expected to expand at promising CAGR during the forecast period of 2014 to 2020 and US$143.2 Mn by the end of 2024. The global market is anticipated to be driven on the back of rise in the use of phenoxyethanol P5 in the beauty products.

A report by Transparency Market Research (TMR) delivers in-depth analysis of factors showing positive or negative impact on the growth trajectory of the phenoxyethanol preservatives market. Hence, this document delivers comprehensive assessment of growth drivers, key regions, competition analysis, demand-supply ratio, challenges, and restraints in the growth of the market for phenoxyethanol preservatives.

The TMR report performs segmentation of the global phenoxyethanol preservatives market based on many vital parameters such as application, product, and region. Based on application, the market for phenoxyethanol preservatives is divided into many sections such as pharmaceuticals, home and personal care, dyes and inks, and others (such as chemical intermediates, metalworking fluids, and jet fuel additives). In terms of product, the phenoxyethanol preservatives market is classified into phenoxyethanol P5 and phenoxyethanol P25.

Rise in Demand for Beauty Products Globally Drives Sales Opportunities in Market

Phenoxyethanol P5 is widely utilized in the production of beauty products. Hence, rising demand for different types of beauty products owing to the improving spending power of many people from across the globe is anticipated to fuel the sales prospects in the global phenoxyethanol preservatives market in the forecast period. Furthermore, the market is prognosticated to be driven on the back of rise in the use of these preservatives for manufacturing different personal care products.

Phenoxyethanol preservatives are being increasingly utilized in the pharmaceutical industry for the production of different vaccines intended for health disorders such as diphtheria, tetanus, hepatitis B, polio, Haemophilus influenza, and pertussis. Hence, rise in the demand for these vaccines in developed and developing nations is likely to create prodigious prospects for companies operating in the global phenoxyethanol preservatives market in the forecast period.

Asia Pacific Region to Provide Promising Prospects in Market

Some of the key regions supporting the growth of the global phenoxyethanol preservatives market include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of them, Asia Pacific is prognosticated to offer promising business prospects for companies in the phenoxyethanol preservatives market owing to rising product use in the manufacturing of beauty care products and detergents. Due to the presence of large population in the developing nations such as India and China, the demand for personal care products and beauty products is estimated to increase in the upcoming years, which in turn, is expected to boost the market expansion. China is one of the leading users of phenoxyethanol preservatives.

Presence of Many Well-established Companies Intensifies the Market Competition

The global phenoxyethanol preservatives market is fragmented in nature. Presence of many well-entrenched companies is an indication of highly intense competition level in the market. Hence, enterprises are using organic as well as inorganic strategies in order to gain leading market position.

Companies in the phenoxyethanol preservatives are investing in R&D projects to improve the quality of products they offer. Moreover, they are increasing focus on new product launches. These factors are prognosticated to favor the expansion of the global phenoxyethanol preservatives market in the upcoming years.

Some key players operating in the phenoxyethanol preservatives market include Symrise, BASF SE, The Dow Chemical Company, Jinan Haohua Industry Co., Ltd., Galaxy Surfactants Ltd., Haihang Industry Co., Ltd., Clariant Corporation, and Jiangsu Jiafeng Chemical Co., Ltd.

Companies in the phenoxyethanol preservatives industry are developing new strategies in order to deal with the unfavorable situations they are witnessing owing to the surfacing of the COVID-19 pandemic. They are continuing regular production and distribution activities by following all safety norms implemented by the regional government bodies.