Phenoxyethanol Preservatives Market to grow at 6% CAGR till 2024 | BASF, AkzoNobel, The Dow Chemical Company, Clariant, Ashland, Symrise AG, Lonza, Galaxy Surfactants Limited, Schülke & Mayr, Galaxy Surfactants Limited, Santa Cruz Biotechnology (SCBT)

The Global Phenoxyethanol Preservatives Market is expanding at a remarkable pace with its wide application scope in the cosmetics, pharmaceutical, and household applications. These preservatives play an important role in inhibiting the growth of microorganisms and are thus extensively used as bactericide in product formulations. Growing public awareness and increasing trend of using paraben-free compounds have further favored phenoxyethanol preservatives industry to expand. As per a report by Global Market Insights, Inc., the worldwide phenoxyethanol preservatives market is projected to record an annual growth rate of 6% over 2017-2024. In 2016, the phenoxyethanol preservatives industry was valued at USD 100 million and is estimated to record a target revenue of USD 170 million by 2024.

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Phenoxyethanol preservatives market witnesses a broad application spectrum in the cosmetics industry, owing to its stability under extreme conditions, good toxicology, and good compatibility with the cosmetics products. The ban on the paraben in several regions have increased the demand for phenoxyethanol preservatives market. The cosmetic application is estimated to record a CAGR of 6.9% over the period of 2017-2024. The premium grade of phenoxyethanol preservatives for example, phenoxyethanol P5 is mainly used in the cosmetics application due to its phenol free content of less than 5 ppm. Higher content of free phenol makes the P25 grade products a less suitable choice for diverse range of industrial application. Besides the free phenol content, both the product grades including phenoxyethanol P25 and phenoxyethanol P5 contains 99.5% purity factor.

The remarkable expansion of Phenoxyethanol Preservatives Market is quite evident from its extensive deployment across a diversified range of domains that includes the pharmaceutical and domestic sectors as well. The growing trend of using active ingredients and the much-awaited ban on paraben based products in some of the regions have stimulated phenoxyethanol preservatives market demand. Home and personal care sector procured the major portion of the industry in 2016. With increased consumer spending on personal hygiene, manufacturers are readily focusing on liquid detergents that deploy phenoxyethanol on a large scale.

Regionally, U.S. is one region where P5 phenoxyethanol preservatives industry demand is quite high. Being one of the most lucrative growth grounds for the cosmetic and pharmaceutical markets, the United States has been observing an escalated commercialization of P5 grade preservatives lately. As per estimates, U.S. P5 phenoxyethanol preservatives market in 2016, held a valuation of USD 12 million, and taking into account the increasing product demand, it is certain that U.S. industry will accomplish significant gains over the coming seven years.

Owing to the high consumption and significant expenditure on beauty products, Brazil will record a rising trajectory in terms of product market growth. In Europe, the demand of the product will be driven by the competitive pharmaceutical sector as it represents a major source of growth of the economy.

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A major disruptive issue that is somewhat hampering phenoxyethanol preservatives market growth is the growing number of regulatory initiatives projecting the health hazards associated with its deployment. The FDA, for instance, has recently issued a warning regarding the toxicity of these preservatives and their detrimental effects on infants. However, industry giants are rigorously putting in their efforts to successfully overcome these challenges by engaging in numerous research and development activities. Some of the prominent players operating in global phenoxyethanol preservatives industry include Akema Fine Chemicals, Dow Chemical Company, Symrise AG, Chemicals, Santa Cruz Biotechnology, Lonza Group, and Schülke & Mayr GmbH. With global economy treading on a positive path, resulting in an upgradation of consumer living standards, phenoxyethanol preservatives market is projected to observe an appreciable growth of 6% over 2017-2024, with a target revenue of over USD 170 million by 2024.

Some of the major contributors in the phenoxyethanol preservatives market include BASF SE, Jiangsu Jiafeng Chemical Co., Ltd., Clariant Corporation, Galaxy Surfactants Ltd., Sigma-Aldrich Co. LLC, Akzo Nobel N.V., Liaoning Kelong Fine Chemical Co., Ltd., Dow Chemical Company, etc.

Browse key industry insights spread across 120 pages with 137 market data tables & 11 figures & charts from the report, “Phenoxyethanol Preservatives Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/phenoxyethanol-preservatives-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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