Market Overview

Phenoxyethanol Preservatives Market to observe 6% CAGR to 2024

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Phenoxyethanol Preservatives Market to observe 6% CAGR to 2024

Key phenoxyethanol preservatives market companies include Jiangsu Jiafeng Chemical, Akema Fine Chemicals, BASF, Santa Cruz Biotechnology, Schülke & Mayr, Clariant Corporation, Symrise, Sigma-Aldrich, Penta Manufacturing Company, Lonza Group, Galaxy Surfactants, Akzo Nobel N.V., Dow Chemical Company, and Liaoning Kelong Fine Chemical.

PR Newswire

SELLBYVILLE, Del., Aug. 21, 2018 /PRNewswire-iReach/ -- The global forecast report says, "Phenoxyethanol Preservatives Market is predicted to be valued USD 170 million by 2024." Global phenoxyethanol preservatives market will be driven by home & personal care products such as cosmetics, detergents, perfumes and ointments by 2024. The prevalent trend of paraben-free compounds usage will further propel the market in the coming years. The cosmetics segment is expected to have gains up to 6.9% CAGR in the forecast period.

The increasing popularity for using non-formaldehyde discharging preservatives has also boosted growth of the product market. The wipes market has observed a surge of innovative formulations, which acts as a budding market for the new industry participants in preservatives. Advanced technologies and augmented applications in the chemical industry is likely to propel the phenoxyethanol preservatives market.

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However, the product market might witness several factors hindering its growth in the near future.  The product is likely to cause dermatitis, allergic reactions and skin irritation. Food and Drug Administration (FDA) has declared warnings regarding the toxicity associated with the product ingestion by infants. The protocols in European Union and Japan allow product concentration of 1% w/w for use in cosmetics.

International regulatory bodies like Cosmetic Toiletry Fragrance Association-USA, European Economic Community, Japanese Ministry of Health & Welfare, British Pharmacopoeia and U.S. Pharmacopoeia have recognized phenoxyethanol as an operative preservative. Yet, due to the severe government regulations, the process of approval involved in the phenoxyethanol preservatives can otherwise be expensive and time-consuming. Moreover, the natural preservatives such as tea tree oil, neem seed oil, grapefruit seed extract and others act as substantial alternatives to the product market.

In 2024, the phenoxyethanol P25 segment is expected to surpass USD 30 million. The growing consumer focus towards skin sensitization will further propel the market growth.

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In 2024, the pharmaceuticals category is probable to surpass USD 30 million. Glycol ether find usage in attaining the free flow of resin pigments in inks. The product is probable to witness demand from the beauty products and home care such as shampoos, detergents, cosmetics, etc., for its antibacterial properties.

Latin America led by Brazil is likely to observe substantial growth trends in the forecast period which is mainly attributed to the higher regional consumer spending on the beauty products. In Europe, demand for phenoxyethanol preservatives will be mainly driven by the flourishing regional pharmaceutical sector, on account of higher investments in research and development by the government.

Key market players are: Jiangsu Jiafeng Chemical Co., Ltd., Akema Fine Chemicals, BASF SE, Santa Cruz Biotechnology, Inc., Schülke & Mayr GmbH, Clariant Corporation, Symrise AG, Sigma-Aldrich Co. LLC, Penta Manufacturing Company, Lonza Group, Galaxy Surfactants Ltd., Akzo Nobel N.V., Dow Chemical Company, Liaoning Kelong Fine Chemical Co., Ltd., etc.

Buy this industry insights spread across 120 pages with 137 market data tables & 11 figures & charts from the report, "Phenoxyethanol Preservatives Market Size By Product (Phenoxyethanol P5, Phenoxyethanol P25), By Application (Home & Personal Care [Cosmetics, Perfumes, Detergents, Ointments], Pharmaceuticals, Dyes & Inks), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

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Chapter 3.  Phenoxyethanol Preservatives Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1.     Vendor matrix

3.3.2.     Distributor channel analysis

3.4.  Industry impact forces

3.4.1.     Growth drivers

3.4.1.1.         Increased product demand in cosmetic industry

3.4.1.2.         Replacement of parabens with phenoxyethanol

3.4.2.     Industry pitfalls & challenges

3.4.2.1.         Expensive and time-consuming approval process for preservatives

3.4.2.2.         Use of natural preservatives

3.5.  Growth potential analysis

3.6.  Regulatory trends

3.6.1.     U.S.

3.6.2.     Europe

3.6.3.     China

3.7.  Porter's analysis

3.8.  Company market share analysis, 2016

3.8.1.     Strategy dashboard

3.9.  PESTEL analysis

3.10.  Regional price trends

3.10.1.   Cost structure analysis

3.10.2.   Raw material trends

Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/phenoxyethanol-preservatives-market

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SOURCE Global Market Insights, Inc.

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