The global benzyl alcohol market size is expected to reach USD 87.1 Million in 2030 and register a revenue CAGR of 4.3% over the forecast period, according to a latest report by Reports and Data.
The global benzyl alcohol market size is expected to reach USD 87.1 Million in 2030 and register a revenue CAGR of 4.3% over the forecast period, according to a latest report by Reports and Data. Rising demand for benzyl alcohol for skin medication and increasing adoption of benzyl alcohol in paints and coatings are some of the key factors expected to drive market revenue growth during the forecast period. Increasing use of benzyl alcohol in inks and polishes is expected to boost revenue growth of benzyl alcohol market in the near future. Benzyl alcohol helps to eliminate the unpleasant odor from the products and provides mild scent, which has increased its use in wide applications. Benzyl alcohol is also used to improve the texture and consistency of the products, leading to increasing demand for benzyl alcohol. This is expected to drive the revenue growth of the market in the near future. Benzyl alcohol is also useful as a degreasing agent, for dyeing polyamide, and as a bonding agent, increasing demand for benzyl alcohol. This is expected to drive the revenue growth of the market in the near future. Additionally, increasing adoption of benzyl alcohol in paints and coatings is also expected to drive the revenue growth of the market.
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The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Elan Chemical Company, Inc., Alfa Aesar, Merck KGaA, Valtris Specialty Chemicals Limited, Lanxess India Private Limited, Wuhan Biet Co., Ltd., Finar Limited, Hubei Greenhouse Fine Chemical Co., Ltd., INOES Group Ltd., and Greenfield Global USA, Inc.
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Some Key Highlights in the Report
- Cleaning agent segment is expected to account for larger market share revenue over the forecast period. Increasing use of benzyl alcohol for manufacturing the cleaning products such as soaps and detergents is driving revenue growth of the segment. Increasing chronic diseases and increasing need for cleaning products is another factor that is increasing demand for benzyl alcohol.
- Pharmaceutical segment is expected to account for largest revenue share in the global benzyl alcohol market between 2022 and 2030. Increasing use of benzyl alcohol due to its anti-parasite medication to treat lice in hairs is increasing its demand and is driving growth of the segment. Benzyl alcohol is also widely used as skin medication to help treat skin disorders and acne problems among the younger population, which is another factor increasing its demand and propelling growth of the segment.
- North America benzyl alcohol market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the cosmetic industry in the countries in the region is expected to drive market revenue growth. Rapid growth in food industry is another factor increasing demand for benzyl alcohol in North America, which is expected to drive the revenue growth of the benzyl alcohol market.
- In December 2021, Lanxess India Private Limited was recognized for its fight against climate change. In the latest assessment by the renowned climate initiative protection initiative CDP, the group has made it into “the climate A list” as one of 200 companies worldwide.
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For the purpose of this report, Reports and Data has segmented the global benzyl alcohol market based on grade, application, end-use, and region:
Grade Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
- Others
Application Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Cleaning Agent
- Synthetic Solvent
- Epoxy Resins
- Bacteriostatic Preservative
- Others
End-use Outlook (Revenue, USD Million, Volume, Metric Tons; 2019-2030)
- Food & Beverages
- Pharmaceutical
- Paints & Coatings
- Cosmetics & Personal Care
- Others
Regional Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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