Press release
Anisole Market to grow at 5% CAGR To 2024 | Evonik, Merck, Eastman Chemical, Solvay, Clean Science and Technology, Oakwood Products, Shanghai Worldyang chemical Co., Huaian Depon Chemical Co., Ltd., Triveni Chemicals, Atul Ltd
Anisole Market
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With over 50% of market share, anisole with purity up to 99.5% will witness growth at a significant pace owing to its huge popularity in cosmetics and fragrance industry. The product also has extended applications in cosmetic products such as blush and lipsticks that comprise of anisole to add fragrance to the finished product. Anisole is prepared by methylation of sodium phenoxide with dimethyl sulfate or methyl chloride.
Anisole Market, Purity By Application
• Up To 99.5%
• Pharmaceuticals
• Cosmetics
• Food
• Others
• Above 99.5%
• Pharmaceuticals
• Cosmetics
• Food
• Others
Anisole Market By Application
• Pharmaceuticals
• Cosmetics
• Food
Anisole market growth will be ascribed to the upward trends particularly in the men cosmetics area of application by 2024. Men across the globe have been gradually indulging in beauty & personal care products. Demand for men-face washes and creams has increased manifold over the years.
Based on volume, Pharmaceuticals segment will exhibit growth with a CAGR of around 4.4%. The product is extensively used as a chemical intermediate in manufacturing of bulk pharmaceuticals like Dextromethorphan, Raloxifene and substrates of expectorant and antiseptics etc. By 2024, cosmetics industry will account for around a third of the global anisole market. Increasing population coupled with advanced living standards has significantly upsurge the production of perfumes and fragrances products. This trend is projected to boost the overall industry growth during the forecast spell.
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Cosmetics area of application will have highest share surpassing 35% in global anisole (methoxybenzene) market. The product is used to produce fragrances, perfumes and various beauty care products to offer aromatic smell.
The U.S. has been the most encouraging domestic environment for the commercialization and development of pharmaceuticals with the minimum industry barriers. The United States attracts the majority of global venture capital investments in start-up biopharmaceutical enterprises The U.S. healthcare spending increased 4.3% in 2016, thereby reaching about USD 10,348 per person, i.e. USD 3.3 trillion. The overall share of regional gross domestic product (GDP) related to health care spending was 17.9 % in 2016, up from 17.7% in 2015. Significant growth aspects in pharmaceutical sector will also propel anisole market size during the forecast timespan.
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Based on revenue, Asia Pacific region will foresee significant growth with the highest share of close to 30% owing to rising disposable income, impact of globalization on lifestyles, dependence on imported personal care products and increasing footprints of overseas brands among the people. Further, changing climatic conditions in the region will significantly propel the usage of skin care products with SPF measures for sunscreen protection.
Key Companies in the Anisole Market include Eastman Chemical Company, Clean Science and Technology Private Limited, Oakwood Products, Inc., Shanghai Worldyang chemical Co., Huaian Depon Chemical Co., Ltd., Triveni Chemicals, Atul Ltd, Evonik, Merck & Co., Inc., Solvay S.A.
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