What's Driving The Anisole Market Size? | Top key Players Solvay, Evonik Merck, Atul Ltd, Oakwood Products, Inc., Eastman Chemical Company, Triveni Chemicals, Clean Science and Technology Private Limited
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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.
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.
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
Unveiling APAC anisole market trends
The Asia Pacific is one of the most lucrative regional anisole industry , 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.
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.
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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.
It is also prudent to mention that APAC anisole industry has also received commendable boost on account of the product being used as a pesticide, in the agro-based economies, wherein governments have been attempting to readdress pivotal issues in the agricultural domain. For example, the Indian government has brought about initiative such as Pradhan Mantri Fasal Bima Yojana and Paramparagat Krishi Vikas Yojana in order to reform agricultural production, The government of China has also shifted its focus toward agricultural reformation. These initiatives have led to an escalation in the demand for pesticides, that would gradually help augment the regional anisole market trends. Driven by the efforts across the economies, APAC anisole industry share is likely to soar in the years to come. As per Global Market Insights, Inc., the APAC region accounts for 30% of the global anisole market share.
Anisole Market By Application
Market, Purity By Application
• Up To 99.5%
• Above 99.5%
Apart from the cosmetic applications, the global anisole industry 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.
Browse key industry insights report, Anisole Market in detail along with the table of contents:
It is imperative to mention that global anisole industry growth is slightly hampered due to the small amounts of anisole required for cosmetics products. For instance, according to a study by the American College of Toxicology, p-Hydroxyanisole, a phenol derived from anisole is used as an antioxidant in different cosmetic products in concentrations as low as 1% because the organization recommends that smaller concentrations would not result into it being a severe irritant. Nonetheless, despite anisole and the anisole-derived phenols being used in small quantities and dilute concentrations, the compounds are still expected to be incorporated in a plethora of cosmetic products worldwide, thereby augmenting the commercial landscape of global anisole industry. As per Global market insights, Inc., anisole market size is projected to cross $100 million by 2024.
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