The most important component to drive the boom of the Benzyl Alcohol marketplace is the increasing demand for Benzyl Alcohol in various give up-person industries. But, the quite poisonous nature of benzyl alcohol and restrictive rules positioned by way of the drug authority are predicted to obstruct the increase of the Benzyl Alcohol marketplace. On the basis of packages, the market is categorized as Non-Public Care, Food & Beverages, Prescribed Drugs, and Paints & Coatings.
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Based totally on programs, the paints & coatings phase holds greater than 50% of the market share, as a result of the extensive utilization of Benzyl Alcohol in this section. In paints enterprise, Benzyl Alcohol is used as a paint stripper to take away paints and coatings from surfaces. Benzyl Alcohol is also used in other packages inclusive of food & liquids and prescribed drugs. The pharmaceutical quit-person section is also anticipated to grow at a great fee for the duration of the forecast period. In the pharmaceutical enterprise, it's far used as a preservative for injectable pills.
The Global Benzyl Alcohol Market was valued at US$ 220.2 million in the year 2018 and is expected to reach US$ 274.5 million by the year 2023, growing at a CAGR of approximately 4.5%. The global demand for benzyl alcohol has increased substantially due to its increasing usage in various applications such as paints & coatings, pharmaceuticals, and personal care industries. However, the highly toxic nature of benzyl alcohol and restrictive regulations placed by the drug authority is expected to impede the growth of the benzyl alcohol market.
The key players in the benzyl alcohol market are Hubei Greenhome Fine Chemical Co. (China), Wuhan Biet Co. Ltd. (China), Ineos AG. (UK), Finar Limited (India), Emerald Performance Materials (USA), Elan Chemical Company Inc. (USA), Wuhan Youji Industries Co. Ltd. (China), Merck KGaA (Germany), Alfa Aesar (USA), Pharmco-Aaper (USA), and Lanxess (Germany), amongst others. The benzyl alcohol market is dominated by only 2 players, namely, Hubei Greenhome Fine Chemical Co. and Emerald Performance Materials, who together account for more than 70% of the market share.
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Benzyl Alcohol 2019 Details by top region, players/brands, type and end user In Global Benzyl Alcohol Market and Professional Industry Survey for Insights Development and future Growth with CAGR Analysis.
The overviews, SWOT analysis and strategies of each vendor in the Benzyl Alcohol market provide understanding about the market forces and how those can be exploited to create future opportunities.
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