Press release
Evolving Market Trends In The Coniferyl Alcohol Industry: Strategic Partnership For Expanding New Product Offerings
Coniferyl Alcohol
What Is the Expected Coniferyl Alcohol Market Size During the Forecast Period?
The coniferyl alcohol market will rise from $1.24 billion in 2024 to $1.34 billion in 2025, growing at a CAGR of 7.5%. This growth is driven by the use of lignin-based additives in adhesives and coatings, a growing interest in lignin for carbon materials, increasing demand for eco-friendly products, and investment in lignin valorization projects.
The coniferyl alcohol market is expected to reach $1.76 billion by 2029, growing at a CAGR of 7.1%. Growth is driven by the adoption of lignin-based products, interest in biorefineries, government policies promoting bio-based materials, and the use of lignin in textiles and paper. Trends include advancements in lignin research, new applications for lignin-based chemicals, technological developments in extraction processes, and increased investment in research and development.
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What Are the High-Growth Segments in the Coniferyl Alcohol Market?
The coniferyl alcohol market covered in this report is segmented -
1) By Biosynthesis: Eugenol, Stilbenoids, Coumarin
2) By Application: Fragrance And Flavor, Polymer Materials, Other Applications
3) By End User: Food And Beverage, Cosmetics, Personal Care, Pharmaceuticals, Other End Users
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What Key Drivers Are Expected to Influence Future Coniferyl Alcohol Market Growth?
Consumers' growing emphasis on health and wellness is expected to boost the coniferyl alcohol market. Consumers are prioritizing health through better lifestyle choices, preventive healthcare, and the desire for natural products. Coniferyl alcohol offers potential natural health benefits, contributing to wellness. A survey by the International Food Information Council in May 2022 showed that 52% of Americans followed a specific diet in 2022. As a result, health and wellness trends are driving the coniferyl alcohol market.
Which Companies Hold the Largest Share Across Different Coniferyl Alcohol Market Segments?
Major companies operating in the coniferyl alcohol market are Thermo Fisher Scientific Inc., Merck & Co. Inc., FUJIFILM Corporation, Avantor, Lenzing AG, SRI International, Cayman Chemical Company, Biosynth AG, Santa Cruz Biotechnology Inc., LEAP CHEM CO. LTD., Manchester Organics Ltd., TargetMol Chemicals Inc., Finetech Industry Limited, Lifeasible, DC Chemicals, Biorbyt Ltd, The Good Scents Company, Aladdin Scientific, Shanghai Acmec Biochemical Technology Co. Ltd., Molcore
What Trends Are Expected to Dominate the Coniferyl Alcohol Market in the Next 5 Years?
Companies in the coniferyl alcohol market are forming strategic partnerships to expand their product offerings. For instance, in September 2022, Qmx Laboratories, a UK-based supplier, partnered with Toronto Research Chemicals Inc., a Canada-based chemical manufacturer, to launch a broad range of biochemicals, pharmaceuticals, and cancer research products, including Dehydrodiconiferyl alcohol.
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What Are the Emerging Geographies for The Coniferyl Alcohol Market Growth?
Asia-Pacific was the largest region in the coniferyl alcohol market in 2023. The regions covered in the coniferyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Coniferyl Alcohol Market?
2. What is the CAGR expected in the Coniferyl Alcohol Market?
3. What Are the Key Innovations Transforming the Coniferyl Alcohol Industry?
4. Which Region Is Leading the Coniferyl Alcohol Market?
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