Global Anisole Market By Major Key Players: Evonik, Triveni Chemicals, Oakwood Products, Huaian Depon Chemical, Atul, Merck, Solvay

According to a new research report by Global Market Insights, Inc., Anisole Market will surpass USD 105 million by 2024; according to a new research report. Anisole market will be mainly driven by its increasing application as an intermediate in manufacturing of dyes, pharmaceuticals & fragrances.

Anisole possesses characteristics such as good solubility in ethanol, diethyl ether, chloroform, benzene, and other organic solvents. It is employed as a precursor to insect pheromones and also acts as a solvent in the synthesis of organic compounds.

Anisole with purity up to 99.5% was the popular segment in global methoxybenzene industry in 2017, with a market share above 50%. Leading industry participants for instance, Atul Ltd., Clean Science Inc., Westman Chemicals Pvt. Ltd., etc. have been involved in manufacturing anisole with purity up to 99.5%.

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In developed regions, it is presumed that aging populations will continue to be a prominent factor mainly in Japan and Western Europe where people over the age of 65 will extend to almost 30% and 21% respectively by 2021. Further, growth in the pharmaceutical industries in Argentina, Venezuela Chile and Brazil and will likely have a positive impact on the industry. 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.

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. Pharmaceuticals segment rise with CAGR 4.4% in anisole market by 2024. The product will have robust demand for its usage as a key precursor in manufacturing numerous pharma solutions.

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. 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.

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Asia Pacific led anisole market in 2017, with market share above 30%. The region has been a significant market for anisole in various personal care products and cosmetics. The growth was attributed to the enhanced discretionary expenditure, rising consumer preference to premium product investment and the imported personal products. Region will also mark substantial demand for anisole in pesticides with strong growth trends in the agricultural sector. For instance, China government has increasingly shifted its focus to reforming agriculture. Several government initiatives in India such as: ‘Paramparagat Krishi Vikas Yojana’, ‘Pradhan Mantri Fasal Bima Yojana’ etc. are aimed to propel the regional agricultural production in the next decade. Under India’s ‘Blue Revolution Vision’, the Indian government has invested around USD 470 million, with the aim to maintain an annual growth rate of 6-8% of the agriculture and allied sector.

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. 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. Global anisole market is quite competitive due to presence of several industry players such as Evonik, Westman Chemicals Pvt. Ltd., Sigma-Aldrich, Solvay, Huaian Depon Chemical Co., Ltd., Camlin Fine Chemicals, Eastman Chemical Company to name some.

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