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Cosmetics sector to spur Phenoxyethanol Preservatives Market demand, Asia Pacific to exhibit lucrative growth prospects

Publisher : Fractovia | Published Date : July 2017 | Price : $4500Request Sample

The Global Phenoxyethanol Preservatives Market is expanding at a remarkable pace with its wide application scope in the cosmetics, pharmaceutical, and household applications. These preservatives play an important role in inhibiting the growth of microorganisms and are thus extensively used as bactericide in product formulations. Growing public awareness and increasing trend of using paraben-free compounds have further favored phenoxyethanol preservatives industry to expand. As per a report by Global Market Insights, Inc., the worldwide phenoxyethanol preservatives market is projected to record an annual growth rate of 6% over 2017-2024. In 2016, the phenoxyethanol preservatives industry was valued at USD 100 million and is estimated to record a target revenue of USD 170 million by 2024.
 

Phenoxyethanol preservatives market witnesses a broad application spectrum in the cosmetics industry, owing to its stability under extreme conditions, good toxicology, and good compatibility with the cosmetics products. The ban on the paraben in several regions have increased the demand for phenoxyethanol preservatives market. The cosmetic application is estimated to record a CAGR of 6.9% over the period of 2017-2024. The premium grade of phenoxyethanol preservatives for example, phenoxyethanol P5 is mainly used in the cosmetics application due to its phenol free content of less than 5 ppm. Higher content of free phenol makes the P25 grade products a less suitable choice for diverse range of industrial application. Besides the free phenol content, both the product grades including phenoxyethanol P25 and phenoxyethanol P5 contains 99.5% purity factor. The P25 grade phenoxyethanol preservatives market is further anticipated to cross USD 30 million by 2024. U.S. is a major consumer of phenoxyethanol P5 grade products, owing to flourishing cosmetics & pharmaceutical industry in the region. The U.S. P5 grade phenoxyethanol preservatives market collected revenue over USD 12 million in 2016 and is anticipated to accomplish lucrative gains over the coming seven years.


U.S. Phenoxyethanol Preservatives Market Size, By Application, 2013 - 2024 (USD Mn)
U.S. Phenoxyethanol Preservatives Market Size, By Application, 2013 - 2024 (USD Mn)

 

Phenoxyethanol possess better anesthetic properties and can also use as a mild disinfectant. They are also used as vaccine and allergen preservatives and thus finds prominent usage in the pharmaceutical sector. The phenoxyethanol preservatives market from the pharmaceutical segment is expected to generate revenue over USD 30 million in 2024 and register a CAGR of over 7% over 2017-2024. Europe witness a fierce competitiveness amongst its pharmaceutical industry players and thus experience robust developments in the phenoxyethanol preservatives industry.
 

Owing to its excellent antibacterial properties against yeast, mold, and bacteria, phenoxyethanol preservatives also find extensive usage in the household applications, where it is used in products like shampoos, ointments, detergents, firm surface cleaners, stain removers, fabric softeners, bath gels and perfumes. The function of phenoxyethanol preservatives in the aforementioned products are different. For instance, it is used as a solvent for inks, resins, and dyes and as a fixative in perfumes and bath gels. These preservatives with a permissible concentration about 5% w/w is also used in leave-on and rinse-off hair serums and conditioners. Phenoxyethanol preservatives are also treated with other preservatives to form effective blends, which in turn has considerably broaden the products and application spectrum.
 

Rising living standards and increasing focus on self-grooming have substantially increased the demand for beauty products. Customers are ready to pay and spend a significant amount on the personal care & cosmetics products to maintain their looks and appearance. High consumption rate of cosmetics in countries including France, U.S., UK, and Germany is expected to mark a profitable roadmap for phenoxyethanol preservatives industry over the coming years. Brazil, China, and India are foreseen to be major countries under LATAM and Asia Pacific phenoxyethanol preservatives markets, witnessing promising growth prospects. The expanding pharmaceutical, cosmetics, and food & beverage industries in the region will favor the industry growth. Many of the international governing bodies including British Pharmacopoeia, European Economic Community, Japanese Ministry of Health and Welfare, Cosmetic Toiletry Fragrance Association, and U.S. Pharmacopoeia have recognized and approved phenoxyethanol as an effective preservative.
 

The above-mentioned drivers and factors have allowed the industry players to explore the niche phenoxyethanol preservatives market segments in emerging and the developing economies. The top five manufacturers have captured more than 50% of the overall phenoxyethanol preservatives industry share. The key industry players include Dow Chemical Company, Lonza Group, Symrise AG, Ashland Inc., Akema Fine Chemicals, Santa Cruz Biotechnology, Inc., Schülke & Mayr GmbH, Jiangsu Tianyin Chemical Industry Co. Ltd., Galaxy Surfactants Ltd., Clariant Corporation, Penta Manufacturing Company, BASF SE, Liaoning Kelong Fine Chemical Co., Ltd., and Akzo Nobel N.V.

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