Benzyl Acetate Market : Key Players and Production Information analysis with Forecast 2016 - 2024
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Benzyl acetate is an organic compound which has a molecular formula C9H10O2. Benzyl acetate is the ester produced by the condensation of acetic acid and benzyl alcohol. Benzyl acetate is typically found in a wide variety of flowers. Benzyl acetate has a pleasant sweet aroma. Accordingly, benzyl acetate is widely used in cosmetics and perfumery for its aroma and also in flavorings for imparting pear and apple flavors. Benzyl acetate is also utilized as a solvent in application products such as cellulose acetate, plastics and resin, oils, nitrate, lacquers, inks and polishes. The rising demand for benzyl acetate from all such applications is predicted to drive the global benzyl acetate market in the next few years.
Asia Pacific is anticipated to be the fastest growing market for benzyl acetate in the next six years. The main reason for this is the growing demand for benzyl acetate from emergent countries such as China, India, Malaysia, Indonesia and Thailand. The population in these countries is growing at a stupendous rate which is eventually resulting in an increase in the overall customer base. Moreover, due to the rapid economic development of these countries, the disposable income and the purchase parity of the citizens of these countries is growing which is further resulting in magnification of the total customer base in these countries. Moreover, the countries in the regions such as Africa, South America and the Middle East are showing swift economic growth since the last few years. Moreover, the U.S. and European countries are progressively recovering from the economic downfall. All such factors are ultimately generating a positive prospect for the global industrial scene. Considering this prospect, flavors and fragrances industry is expected to record a spectacular growth in the next few years.
Additionally, there is an incredible market potential for the flavors and fragrances industry in the developing countries such as China, India and Brazil. Therefore, it is anticipated to drive the demand for benzyl acetate in the next six years. The growing demand for benzyl acetate in the personal care industry across different regions of the world is anticipated to drive the global benzyl acetate market in the next few years. The major players operating in the benzyl acetate market are primarily focusing on the emergent countries for tapping their immense market potential. The key companies operating in the benzyl acetate market are installing gigantic production facilities in these developing countries to fulfill the swiftly rising local demand for benzyl acetate. Therefore, the global benzyl acetate market is expected to witness a noteworthy growth in the next six years.
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The major companies operating in the global benzyl acetate market are Symrise AG, Premier Group of Industries and Kadillac Chemicals Private Limited.
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