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Global Phenoxyethanol Preservatives Market Trends - Industry Size Report 2018-2024 | Key Players are BASF, AkzoNobel, The Dow Chemical Company, Clariant, Ashland, Symrise AG, Lonza, Galaxy Surfactants Limited

Phenoxyethanol Preservatives Market

Phenoxyethanol Preservatives Market

Phenoxyethanol preservatives market will surpass USD 170 million by 2024 according to this new research report. Global phenoxyethanol preservatives market will be driven by home & personal care products such as cosmetics, detergents, perfumes and ointments by 2024. The prevalent trend of paraben-free compounds usage will further propel the market in the coming years. The cosmetics segment is expected to have gains up to 6.9% CAGR in the forecast period. The increased consumer spending on product innovations and personal hygiene has fostered the demand of liquid detergents. The price reduction owing to the augmented competition has also intensified the demand for liquid detergents.

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The increasing popularity for using non-formaldehyde discharging preservatives has also boosted growth of the product market. The wipes market has observed a surge of innovative formulations, which acts as a budding market for the new industry participants in preservatives. Advanced technologies and augmented applications in the chemical industry is likely to propel the phenoxyethanol preservatives market

However, the product market might witness several factors hindering its growth in the near future. The product is likely to cause dermatitis, allergic reactions and skin irritation. Food and Drug Administration (FDA) has declared warnings regarding the toxicity associated with the product ingestion by infants. The protocols in European Union and Japan allow product concentration of 1% w/w for use in cosmetics.

International regulatory bodies like Cosmetic Toiletry Fragrance Association-USA, European Economic Community, Japanese Ministry of Health & Welfare, British Pharmacopoeia and U.S. Pharmacopoeia have recognized phenoxyethanol as an operative preservative. Yet, due to the severe government regulations, the process of approval involved in the phenoxyethanol preservatives can otherwise be expensive and time-consuming. Moreover, the natural preservatives such as tea tree oil, neem seed oil, grapefruit seed extract and others act as substantial alternatives to the product market.

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Phenoxyethanol Preservatives Market By Product
o Phenoxyethanol P5
o Phenoxyethanol P25

Phenoxyethanol Preservatives Market By Application
o Home & personal care
o Pharmaceuticals
o Dyes & inks
o Others

In 2024, the phenoxyethanol P25 segment is expected to surpass USD 30 million. The growing consumer focus towards skin sensitization will further propel the market growth.

In 2024, the pharmaceuticals category is probable to surpass USD 30 million. Glycol ether find usage in attaining the free flow of resin pigments in inks. The product is probable to witness demand from the beauty products and home care such as shampoos, detergents, cosmetics, etc., for its antibacterial properties.

Latin America led by Brazil is likely to observe substantial growth trends in the forecast period which is mainly attributed to the higher regional consumer spending on the beauty products. In Europe, demand for phenoxyethanol preservatives will be mainly driven by the flourishing regional pharmaceutical sector, on account of higher investments in research and development by the government.

Key market players are: Jiangsu Jiafeng Chemical Co., Ltd., Akema Fine Chemicals, BASF SE, Santa Cruz Biotechnology, Inc., Schulke & Mayr GmbH, Clariant Corporation, Symrise AG, Sigma-Aldrich Co. LLC, Penta Manufacturing Company, Lonza Group, Galaxy Surfactants Ltd., Akzo Nobel N.V., Dow Chemical Company, Liaoning Kelong Fine Chemical Co., Ltd., 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

About Global Market Insights
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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