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Global Benzoyl Alcohol Market: Drivers and Restraints
Benzoyl alcohol is a versatile solvent used in wide range of applications. For instance, in paint industry benzoyl alcohol is an important substitute for methylene chloride. The eco-friendly nature is one of the prime factor driving the global benzoyl alcohol market. The growth in the end-use industries such as pharmaceutical, food and personal care which requires benzoyl alcohol as a solvent and co-solvent further drives the global benzoyl alcohol market. The increasing demand for perfumes and fragrances propels the global benzoyl alcohol market. For instance, benzoyl alcohol is high in demand for benzyl acetate preparation which is used as jasmine perfume ingredient.
However, the fluctuations in the raw material prices, macro-economic factors impacts the growth of global benzoyl alcohol market.
Global Benzoyl Alcohol Market: Region wise Outlook
The global benzoyl alcohol market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The benzoyl alcohol market in North America is driven by the pharmaceutical and chemical manufacturing companies. The presence of prominent cosmetic and personal care companies such as Procter & Gamble Company, Johnson & Johnson, etc. in the U.S are the major ones for benzoyl alcohol consumption. The benzoyl alcohol market in APEJ region is expected to grow at significant CAGR owing to the growing FMCG, personal care and paints and coatings industries. The availability of cheap labour in Asian countries propels the manufacturers to shift their production bases in the APEJ regions and boost the consumption of benzoyl alcohol. In Japan, the benzoyl alcohol market is expected to grow at moderate CAGR during the forecast period owing to the inflation, macro-economic factors and slow growth of GDP. The global benzoyl alcohol market is consolidated with established players with the business aligned in the forward or backwards integration.
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Global Benzoyl alcohol Market: Key Players
Some of the prominent players identified in the global benzoyl alcohol market include:
- LANXESS AG
- Emerald Kalama Chemical LLC
- SILVER FERN CHEMICAL, INC.
- Shimmer Chemicals Pvt. Ltd.
- CheMarCo, Inc.
- Gujarat Alkalies and Chemicals Limited
- Some of the suppliers in the global benzoyl alcohol market include:
- Wuhan Sinocon New chemical Materials Co. ltd.
- Alfa Aesar
- Tianjin Zhongxin Chemtech Co., Ltd.
- Hefei TNJ Chemical Industry Co. Ltd.
- Shanghai Macklin Biochemical Co. Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Benzoyl Alcohol Market: Segmentation
On the basis of type, benzoyl alcohol market can be segmented as follows:-
- Natural
- Synthetic
On the basis of application, benzoyl alcohol market can be segmented as follows:-
- Flavours & Fragrances
- Coatings
- Agrochemicals
On the basis of end use industry, benzoyl alcohol market can be segmented as follows:-
- Pharmaceutical
- Cosmetic
- Personal Care
- Paints & Coatings
- Lubrication
- Chemical
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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