Global Benzyl Alcohol Market 2017-2021
About Benzyl Alcohol
Benzyl alcohol is a colorless aromatic liquid that is metabolized into benzoic acid in the human body. Oxidation of toluene and hydrolysis of benzyl chloride in the presence of soda ash are two ways of producing benzyl alcohol. It is a natural ingredient found in plants, fruits, and tea. Essential oils such as jasmine, ylang-ylang, and hyacinth are used in the production of benzyl alcohol. It is used in numerous end-user industries such as personal care, paints and coatings, food and beverage (F&B), and pharmaceutical. It is widely used as an intermediate in the production of chemicals. Increasing demand for benzyl alcohol in personal care products and the growing demand for excipients are anticipated to drive growth in the global benzyl alcohol market during the forecast period.
Technavio’s analysts forecast the global benzyl alcohol market to grow at a CAGR of 5.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global benzyl alcohol market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of paints and coatings, personal care, pharmaceutical, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Benzyl Alcohol Market 2017-2021
Technavio recognizes the following companies as the key players in the global benzyl alcohol market: Emerald Performance Materials, Gujarat Alkalies and Chemicals, INEOS , LANXESS, and Merck
Other Prominent Vendors in the market are: Capri Enterprise, Charkit Chemical, Elan-Chemical, Expo Essential Oils, First Source Worldwide, Haihang Industry, Haviland USA, Hydrite Chemical, Innova Chemicals, Krishna Chemicals, PHARMCO-AAPER, Premier Group, Shimmer Chemicals, SOVIKA GROUP OF COMPANIES,Sudha Chemicals,TCI Chemicals,The Chemical Company,Triveni Interchem, and Vigon International
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of benzyl alcohol in personal care products
Benzyl alcohol is used as a preservative in personal care products and cosmetics such as body lotions, sunscreens, shampoos, soaps, and hair care solutions. It is derived from organic sources and is thus in high demand. The rising demand for perfumed lotions and other fragrant products has increased the customer base of benzyl alcohol.”
According to the report, one of the major drivers for this market is Role of benzyl alcohol as a preservative and flavoring agent. Benzyl alcohol is used as a flavoring agent in food and beverages. It increases the shelf life of food products and is thus popularly used in the F&B industry. The emergence of new business models is expected to transform the entire food retail scenario, which will increase the demand for processed food and beverages. Busy lifestyles and change in food habits fuel the demand for ready-to-eat meals.
Further, the report states that one of the major factors hindering the growth of this market is Harmful effects of benzyl alcohol. Benzyl alcohol is used in numerous industrial applications and the global benzyl market is growing at a moderate rate. However, side effects caused by the toxic content in the chemical limits its widespread use. Preservatives used in food and beverages should inhibit the growth of microbial organisms without any adverse effect on human health. Benzyl alcohol used in food and beverages is known to have a mild effect on human cells. It causes mild irritation to skin, mucous membrane, and eyes.
Emerald Performance Materials, Gujarat Alkalies and Chemicals, INEOS , LANXESS, Merck, Capri Enterprise, Charkit Chemical, Elan-Chemical, Expo Essential Oils, First Source Worldwide, Haihang Industry, Haviland USA, Hydrite Chemical, Innova Chemicals, Krishna Chemicals, PHARMCO-AAPER, Premier Group, Shimmer Chemicals, SOVIKA GROUP OF COMPANIES,Sudha Chemicals,TCI Chemicals,The Chemical Company,Triveni Interchem, and Vigon International