Global Benzyl Alcohol Market, By Purity (Purity Higher than 99.5%, Purity in Between 99-99.5%, Purity Less than 99%), Grade (Industrial Grade, Food Grade, Pharmaceutical Grade, Others), Application (Dielectric Solvent, Bacteriostatic Preservative, Cleaning Agent, Epoxy Resins, Synthetic Solvent, Others), End User (Food and Beverages, Paints and Coating, Pharmaceuticals, and Others) - Industry Trends and Forecast to 2023 to 2030.
Benzyl Alcohol Market Analysis and Size
The essential factors contributing to the growth of the global benzyl alcohol market in the forecast period of 2023 to 2020 include the rise in the demand from the food and beverage and cosmetics and personal care industries. The increasing demand for benzyl alcohol as anti-parasite medicine and common preservative in injectable drugs and growing popularity of the product because of its wide applications fragrance component, viscosity-decreasing agent and preservatives accelerate the global benzyl alcohol market growth.
Data Bridge Market Research analyses that the global benzyl alcohol market which was USD 3.10 billion in 2022, is expected to reach USD 4.51 billion by 2030, growing at a CAGR of 4.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Benzyl Alcohol Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Purity (Purity Higher than 99.5%, Purity in Between 99-99.5%, Purity Less than 99%), Grade (Industrial Grade, Food Grade, Pharmaceutical Grade, Others), Application (Dielectric Solvent, Bacteriostatic Preservative, Cleaning Agent, Epoxy Resins, Synthetic Solvent, Others), End User (Food and Beverages, Paints and Coating, Pharmaceuticals, and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Merck KGaA (Germany), Thermo Fisher Scientific Inc. (U.S.), HUBEI GREENHOME FINE CHEMICAL CO., LTD (China), Emerald Performance Materials (U.S.), Alfa Aesar (U.S.), Gujarat Alkalies and Chemical Limited (India), Tata Chemicals Ltd. (India), FINAR CHEMICALS (India), Elan Chemical (U.S.), INEOS (U.K.), Wuhan Biet Co., Ltd. (China), Wuhan Youji Industries Co., Ltd. (China), Pharmco: Brookfield (U.S.), LANXESS (Germany), Avantor, Inc. (U.S.)
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Market Opportunities
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Market Definition
Benzyl alcohol (Bn-OH) refers to a sweet-smelling liquor which includes benzene bearing a single hydroxymethyl as a substituent. The liquor is clear, colorless chemical liquid with sharp consuming taste and mellow pleasant aromatic odor which is marginally soluble in water and miscible in diethyl ether and alcohols. They are used as solvent owning to their low toxicity and high vapor pressure. It displays partial solubility in water and highly soluble in alcohol. The product is known to be partial solubility in water and highly soluble in alcohol. Naturally extracted oil from flowers such as jasmine, hyacinth and ylang-ylang is utilized for producing the benzyl alcohol.
Global Benzyl Alcohol Market Dynamics
Drivers
- Growing Demand in Various End-Use Industries
Benzyl alcohol is used in a wide range of industries, including pharmaceuticals, personal care, paints and coatings, food and beverages, and chemicals. The increasing demand for these products in these industries is driving the growth of the global benzyl alcohol market.
- Surging Pharmaceutical Industry and Applications
Benzyl alcohol is widely used as a solvent in the pharmaceutical industry. It is used as a bacteriostatic preservative in injectable drugs, as well as in topical formulations. The growth of the pharmaceutical industry, especially in emerging markets, is driving the demand for benzyl alcohol.
Opportunity
- Shift towards Eco-Friendly and Bio-Based Products
Benzyl alcohol can be derived from renewable sources, making it an attractive option for environmentally conscious consumers. The growing preference for eco-friendly and bio-based products is expected to drive the demand for benzyl alcohol in various applications.
Restraint/Challenge
- Health and Safety Concerns
Benzyl alcohol is considered a hazardous substance and can be toxic if ingested, inhaled, or comes into contact with the skin or eyes. This has led to strict regulations regarding its handling, storage, and usage, which can pose challenges for manufacturers and limit its application in certain industries.
This global benzyl alcohol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global benzyl alcohol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- Emerald Performance Materials, LLC (Emerald), a leading provider of advanced specialty chemicals, announced that it has acquired the business and assets of DSM Special Products, BV (DSP), a European-based manufacturer of benzoic acid, sodium benzoate, benzaldehyde and benzyl alcohol
Global Benzyl Alcohol Market Scope
The global benzyl alcohol market is segmented on the basis of purity, grade, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Purity
- Purity Higher than 99.5%
- Purity in Between 99-99.5%
- Purity Less than 99%
Grade
- Industrial Grade
- Food Grade
- Pharmaceutical Grade
- Others
Application
- Dielectric Solvent
- Bacteriostatic Preservative
- Cleaning Agent
- Epoxy Resins
- Synthetic Solvent
- Others
End User
- Food and Beverages
- Paints and Coating
- Pharmaceuticals
- Others
Global Benzyl Alcohol Market Regional Analysis/Insights
The benzyl alcohol market is analyzed and market size insights and trends are provided by country, purity, grade, application and end user as referenced above.
The countries covered in the benzyl alcohol market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the global benzyl alcohol market and is expected to be the fastest growing market during the forecast period of 2023 to 2030 due to the presence of large industries such as paints and coatings, adhesives and sealants, chemical processing and cosmetics and personal care, high consumption of adhesives and high as a food additive in various applications in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Benzyl Alcohol Market Share Analysis
The global benzyl alcohol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global benzyl alcohol market.
Some of the major players operating in the global benzyl alcohol market are:
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (U.S.)
- HUBEI GREENHOME FINE CHEMICAL CO., LTD (China)
- Emerald Performance Materials (U.S.)
- Alfa Aesar (U.S.)
- Gujarat Alkalies and Chemical Limited (India)
- Tata Chemicals Ltd. (India)
- FINAR CHEMICALS (India)
- Elan Chemical (U.S.), INEOS (U.K.)
- Wuhan Biet Co., Ltd. (China)
- Wuhan Youji Industries Co., Ltd. (China)
- Pharmco: Brookfield (U.S.)
- LANXESS (Germany)
- Avantor, Inc. (U.S.)
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