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Guaiacol Market Analysis By Top Key Players - Solvay, Cayman Chemical, Merck KgaA, LGC Limited, TCI America, Jiaxing Zhonghua Chemical Co., Ltd, Anhui Bayi Chemical Industry Co., Ltd, Central Drug House, Jiangsu Lycra Chemical Technology Co., Ltd
Guaiacol is a naturally occurring, biodegradable and organic compound that has low potential of bioaccumulation and mainly disperses in water. It is a slightly yellow colored liquid or a crystalline solid with a characteristic aromatic odor. Guaiacol is industrially manufactured by the methylation of catechol and is used in the manufacturing of a variety of chemical products. Vanillin is among the most commonly used chemical in the food industry to flavor ice-creams and chocolates. Guaiacol is used as a precursor in the manufacture of vanillin and is also used in the protection of crops in the agriculture sector. Guaiacol is also used as a raw material in the pharmaceutical industry. The synthesis of active pharmaceutical ingredient manufacturing in the pharmaceutical industry uses guaiacol. The characteristic aromatic odor of guaiacol has enabled the use of guaiacol in the manufacture of perfumery agents and flavoring agents. The National Center for Biotechnology Information U.S. has stated that guaiacol is thought to have properties of disinfectants and can be used to treat coughs. Guaiacol is also used to give a peaty, smoky and spicy flavor to whisky and in flavoring roasted coffee.
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Guaiacol Market: Dynamics
The food and beverage industry is growing due to the increasing demand for food, which in turn drives the sales of guaiacol. Population growth has boosted the growth of the pharmaceutical industry and in turn propels the demand for guaiacol. The use of guaiacol in the manufacture of perfumery products will aid the growth of sales of guaiacol in the chemical and allied products industry. The use of guaiacol as an expectorant and its low shelf life also aid the growth of the guaiacol market. On the other hand, the high price of guaiacol will slow down the sales of guaiacol and the use of lignin instead of guaiacol in the manufacture of vanillin may also retard the market growth.
Guaiacol Market: Regional Outlook
China and India have been witnessing good growth in pharmaceutical and food and beverage industries in the recent years. The growth of these industries is expected to aid the growth of guaiacol sales in the near future. North America also has rapidly growing food and beverage and pharmaceutical industries and is thus expected to provide a good platform for the growth of the guaiacol market in the region. The Middle East and Africa region has moderately growing pharmaceutical and chemical industries, which are expected to aid the growth of sales of guaiacol in the region. Europe is pegged to be a prominent region with its growing chemical, food and beverage and pharmaceutical industries. The growth of these three industries in the region is expected to boost the sales of guaiacol. The APAC region has shown moderate growth in pharmaceutical and chemical industries. Moderate growth in these industries is expected to drive the growth of the guaiacol market in the APAC region. The chemical industry in Latin America has shown appreciable growth in the recent years and the food and beverage industry in the region is also growing moderately. The growth of these industries in the region is expected to aid the growth of the guaiacol market. The food and beverage industry in Japan is also growing at a good rate, which is expected to propel the sales of guaiacol in the near future.
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Guaiacol Market: Market Participants
The key market participants identified in the guaiacol market include,
Solvay
Cayman Chemical
Merck KgaA
LGC Limited
TCI America
Jiaxing Zhonghua Chemical Co., Ltd
Anhui Bayi Chemical Industry Co., Ltd
Central Drug House
Jiangsu Lycra Chemical Technology Co., Ltd
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