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Anisole market Rugged Expansion Foreseen by During 2017 -2024

Author : Ravi Chawat | Published Date : 2020-09-16 

Anisole market will be mainly driven by its increasing application as an intermediate in manufacturing of dyes, pharmaceuticals & fragrances. Anisole possesses characteristics such as good solubility in ethanol, diethyl ether, chloroform, benzene, and other organic solvents. It is employed as a precursor to insect pheromones and also acts as a solvent in the synthesis of organic compounds. The increasing purchasing power, demand for enhanced skin-care products and growing image consciousness among middle and high income working class has resulted into growing utilization of the product in cosmetics industry. Favorable demographics and social media are playing an active role in increasing awareness about personal care products along with developing fashion consciousness in metropolitan as well as tier-1 & 2 cities. Such improvements in lifestyle and increasing adoption of western culture will accelerate global anisole market during the forecast spell.

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Supportive governmental regulations in various regions for using anisole in manufacturing pharmaceutical products for both internal and external purposes will fuel demand for the product over the forecast timespan. The product serves as a key precursor in producing various pharma compounds, for instance, mequinol- a type of phenol used in dermatology and organic chemistry. In developed regions, it is presumed that aging populations will continue to be a prominent factor mainly in Japan and Western Europe where people over the age of 65 will extend to almost 30% and 21% respectively by 2021. Further, growth in the pharmaceutical industries in Argentina, Venezuela Chile and Brazil and will likely have a positive impact on the industry.

Based on volume, Pharmaceuticals segment will exhibit growth with a CAGR of around 4.4%. The product is extensively used as a chemical intermediate in manufacturing of bulk pharmaceuticals like Dextromethorphan, Raloxifene and substrates of expectorant and antiseptics etc. By 2024, cosmetics industry will account for around a third of the global anisole market. Increasing population coupled with advanced living standards has significantly upsurge the production of perfumes and fragrances products. This trend is projected to boost the overall industry growth during the forecast spell.

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Based on revenue, Asia Pacific region will foresee significant growth with the highest share of close to 30% owing to rising disposable income, impact of globalization on lifestyles, dependence on imported personal care products and increasing footprints of overseas brands among the people. Further, changing climatic conditions in the region will significantly propel the usage of skin care products with SPF measures for sunscreen protection.

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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