What is the present valuation and projected CAGR of the benzyl alcohol market?
The benzyl alcohol market size has grown strongly in recent years. It will grow from $3.36 billion in 2024 to $3.59 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to an increase in the shelf life of food products, increased utilization of benzyl alcohol in the synthesis of epoxy resins, growth in the demand from end-use industries, growth in the construction industry, and growth in the focus on natural products.
The benzyl alcohol market size is expected to see strong growth in the next few years. It will grow to $4.61 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing demand in the pharmaceutical industry, increasing demand for cosmetics and personal care products, rising demand for paints and coating, increasing the customer base for benzyl alcohol, and increasing demand from the food and beverage industry. Major trends in the forecast period include developing environmentally friendly products, technological advancements, product innovations, research and diagnostics, integration into food packaging, integration into personal care products, developing bio-based alternatives, and technological solutions for stability enhancement.
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What key drivers have fueled the benzyl alcohol market’s development over the years?
The increasing demand for cosmetics and personal care products is expected to propel the growth of the benzyl alcohol market going forward. Cosmetics and personal care products are substances or preparations intended for application to the human body, including the skin, hair, nails, lips, and oral cavity. The rise in demand for cosmetics and personal care products is due to the emphasis on self-care, influencer marketing, formulation advancements, and the demand for natural ingredients. Benzyl alcohol is necessary in personal care and cosmetics, ensuring safety, stability, and efficacy and offering skin conditioning and fragrance-enhancing properties that enrich the user experience. For instance, in September 2023, according to the Bureau of Labor Statistics, a US-based government agency, personal care products and services increased by 12.3% in 2022 from 19.3% in 2021. Therefore, the increasing demand for cosmetics and personal care products is driving the growth of the benzyl alcohol market.
What is the segmentation for the benzyl alcohol market?
The benzyl alcohol market covered in this report is segmented –
1) By Product: Industrial Grade, Food Grade, Pharmaceutical Grade, Other Products
2) By Application: Dielectric Solvent, Bacteriostatic Preservative, Cleaning Agent, Epoxy Resins, Synthetic Solvent, Other Applications
3) By End User: Food And Beverages, Paints And Coating, Pharmaceuticals, Other End-Users
Subsegments:
1) By Industrial Grade: Solvent For Paints And Coatings, Adhesives And Sealants, Plasticizers, Cleaning Agents, Lubricants
2) By Food Grade: Food Flavoring Agent, Preservative, Fragrance In Food Products
3) By Pharmaceutical Grade: Solvent In Pharmaceutical Formulations, Active Pharmaceutical Ingredient (API), Excipients For Drug Delivery Systems
4) By Other Products: Cosmetic And Personal Care Products, Fragrance Compounds, Agricultural Chemicals
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Who are the most influential companies in the benzyl alcohol market?
Major companies operating in the benzyl alcohol market are The Dow Chemical Company, Thermo Fisher Scientific Inc., Honeywell Research Chemicals, Merck KGaA, Evonik Industries AG, LANXESS, Avantor Inc., Elan Chemical, Croda International plc, Ashland, Valtris Specialty Chemicals, Ineos Group Limited, Liaoning Kelong Fine Chemical Co. Ltd., Pharmco by Greenfield Global, Connect Chemicals, Santa Cruz Biotechnology Inc., Wuhan Youji Industries Co. Ltd., Finar Limited, Tokyo Chemical Industry Co. Ltd., Emerald Performance Materials, Richman Chemical Inc., Aims Oxygen Pvt Ltd., Shimmer Chemicals Pvt. Ltd., Wuhan Biet Co. Ltd., Heranba Industries Ltd.
What are the major regional insights for the benzyl alcohol market, and which region holds the top position?
North America was the largest region in the benzyl alcohol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the benzyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Benzyl Alcohol Market Report 2025 Offer?
The benzyl alcohol market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Benzyl alcohol is a colorless liquid with a mild, pleasant aroma that is commonly used as a solvent, preservative, and fragrance ingredient. Its purpose is to act as a preservative to extend shelf life, a solvent to dissolve other ingredients, and a fragrance additive to enhance product appeal.
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