Global Phenoxyethanol Preservatives Market 2017-2021
About Phenoxyethanol Preservatives
Phenoxyethanol is an aromatic compound classified under phenol ether and glycol ether compounds. Through the process of William synthesis, phenoxyethanol is commercially produced from phenol, as a starting material. Due to its antibacterial; germicidal; and perfume-fixative characteristics, it is used in a wide range of applications. It is a colorless liquid that is viscous in nature. Phenoxyethanol preservatives can be obtained naturally from green tea. However, artificial phenoxyethanol finds use in cosmetics and pharmaceutical products.
Technavio’s analysts forecast the global phenoxyethanol preservatives market to grow at a CAGR of 6.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global phenoxyethanol preservatives market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Phenoxyethanol Preservatives Market 2017-2021
Technavio recognizes the following companies as the key players in the global phenoxyethanol preservatives market: BASF, Clariant, Symrise, Air Liquide, and The Dow Chemical Company.
Other Prominent Vendors in the market are: Akema Fine Chemicals, Ashland, Akzo Nobel, Galaxy Surfactants, Haihang Industry Co, Liaoning Kelong Fine Chemicals, Lonza, Penta Manufacturer, and Santa Cruz Biotechnology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is phenoxyethanol replacing formaldehyde-releasing preservatives. There has been a growing concern over the number of cosmetic preservatives being used. Some preservatives have been found to contain formaldehyde, cancer and skin irritation-causing agent. On the contrary, not using preservatives causes shampoos and skin creams to be contaminated with bacteria; fungi; and mold.”
According to the report, one driver in the market is high demand from the cosmetics manufacturing segment. Cosmetic manufacturers play a significant role in the expansion of the global phenoxyethanol preservative market. One of the factors for this growth can be attributed to the usage of different blends of phenoxyethanol. Usually, cosmetics production does not take place under sterile conditions. This leads to microbe growth, if preservatives are not used in that product. Phenoxyethanol is gentle non-irritating preservative that does not release formaldehyde. Formaldehyde is a carcinogen that has been the cause of skin reactions and rashes in many people.
Further, the report states that one challenge in the market is control on usage by regulatory bodies. Phenoxyethanol preservatives usage is highly regulated by the regulatory authorities. According to the European Union (EU), phenoxyethanol CAS No:122-99-6 as a preservative is regulated in Annex V/29 of the Cosmetics Regulation (EC)n. 1223/2009. According to this, phenoxyethanol is authorized to be used in cosmetics with a maximum concentration of 1% per 100 grams only. It also states that the use of phenoxyethanol should be lowered to 0.4%, in products for infants and children. The EU also stated that phenoxyethanol should not be used in diapers and baby wipes. The Food and Drug Administration (FDA) has issued warnings against the usage of phenoxyethanol which increases the risk of slow or shallow breathing and leads to dehydration among infants.
BASF, Clariant, Symrise, Air Liquide, The Dow Chemical Company, Akema Fine Chemicals, Ashland, Akzo Nobel, Galaxy Surfactants, Haihang Industry Co, Liaoning Kelong Fine Chemicals, Lonza, Penta Manufacturer, and Santa Cruz Biotechnology.