|01-11-2019 04:13 AM CET - Business, Economy, Finances, Banking & Insurance||
Global Anisole Market industry valuation set to surpass the billion-dollar market by 2024| Leading Key Player Companies Oakwood Products, Inc., Merck, Evonik, Solvay, Triveni Chemicals, Eastman Chemical Company, Clean Science and Technology Private Limite
Press release from: Global Market Insights Inc.
The global anisole market is projected to experience an accelerated growth over 2018 – 2024, primarily fueled by organic chemical compound’s applications in the rapidly expanding pharmaceutical and cosmetics sectors. Estimated to be valued at over $77 million, the global anisole market has depicted considerable growth due to the product’s rising incorporation in a plethora of cosmetic products, on account of the artificial fragrance that is associated with anisole.
Anisole Market in 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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Unveiling APAC anisole market trends
The Asia Pacific is one of the most lucrative regional anisole markets, that is popularly driven by the rise in demand for cosmetic brought on by the increased disposable incomes and the subsequent affordability in the region. According to a 2017 report by the French personal care and cosmetics company – L’Oréal S.A., the firm’s accrued almost 24% of its global sales in 2017 from the Asian belt. This can be undeniably attributed to the rising demands for premium cosmetic products due to the rate at which the discretionary expenditure skyrocketing, especially across the economies of India and China.
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.
Industry impact forces
• Growth drivers
1. Global drivers
2. Increasing demand for anisole in pharmaceuticals
3. Regional drivers
4. Positive outlook from the cosmetics industry in Asia Pacific
• Industry pitfalls & challenges
1. Stringent regulatory framework
Anisole Market, Purity By Application
• Up To 99.5%
• Above 99.5%
Anisole Market By Application
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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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.
Apart from the cosmetic applications, the global anisole market would also be receiving a significant boost from the pharmaceutical sector. The U.S. pharmaceutical sector has been the most flourishing domestic market for the development and commercialization of different pharmaceuticals. According to a report by PricewaterhouseCoopers (PwC), primary pharmaceutical markets such as Europe, North America and Japan had been under considerable pressure a decade back, having experienced a slowdown in growth.
Today however, the pharma sector has witnessed considerable incline across the developed as well as developing economies, thereby making the domain a lucrative growth avenue for the global anisole market. Anisole industry share from pharmaceutical applications is expected to witness a CAGR of 4.4% over 2018-2024, driven by the fact that the product serves as a crucial precursor in producing a plethora of pharma compounds. For instance, 4-methoxyphenol, a phenol derived from anisole is used to create 4-methoxyphenol – a chemical used in manufacturing of bulk pharmaceuticals like Raloxifene and Dextromethorphan.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
4. Atul Ltd
5. Triveni Chemicals
6. Huaian Depon Chemical Co., Ltd.
7. Shanghai Worldyang chemical Co.,
8. Oakwood Products, Inc.
9. Clean Science and Technology Private Limited
10. Eastman Chemical Company
Browse key industry insights report, Anisole Market in detail along with the table of contents:
Demand for men-face washes and creams has increased manifold over the years. According to Personal Appearance Survey statistics by Euromonitor International, in the developed geographies, men are indulged in using beard shampoos, beard creams, lip balms and foundation. Besides, as more men involve in refining their appearance with enhanced grooming habits, it will be vital for manufacturers to create products aimed at male personal care, which in turn will present significant aspects for anisole in the cosmetics and personal care sector.
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