According to the recent study the benzyl alcohol market is projected to grow at a CAGR of 3%-5% from 2020 to 2025. Growth in this market is primarily driven by increasing demand from food and beverages, growing demand from cosmetics and personal care, and usage in the paints and coatings.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in benzyl alcohol market by application (dielectric solvent, bacteriostatic preservative, cleaning agent, epoxy resins, synthetic solvent, and others), end-users (personal care, food and beverages, pharmaceuticals, paints and coatings and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
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“Bacteriostatic preservative market is expected to remain the largest segment during the forecast period.”
Based on application, the benzyl alcohol market is segmented into dielectric solvent, bacteriostatic preservative, cleaning agent, epoxy Resins, synthetic solvent, and others. Lucintel forecasts that the bacteriostatic preservative is expected to witness the largest segment over the forecast period because of very low concentration in the topical drugs, medicines, and cosmetics to preserve the products from producing bacteria and kill them when they reproducing.
“Within the benzyl alcohol market, the food and beverages segment is expected to remain the largest end user”
Based on end user, the food and beverages segment is expected to witness the largest end user over the forecast period because owing to the increasing food demand from the ever-increasing global population, and rising spending power.
“Asia Pacific will dominate the benzyl alcohol market in near future”
Asia Pacific it is also expected to witness the highest growth over the forecast period because of owing to the demand from applications like solvents, preservatives, food additives, etc. and rising per capita healthcare expenditure attributing in the growth of pharmaceutical industry, which, in turn fueled the demand of benzyl alcohol during the forecast period.
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Major players of benzyl alcohol market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Ineos AG., Hubei Greenhome Fine Chemical Co., Wuhan Biet Co., Ltd., Wuhan Youji Industries Co., Ltd., Emerald Performance Materials, Pharmco-Aaper, Lanxess, and Gujarat Alkalies are among the major benzyl alcohol providers.
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