Benzyl Alcohol Market Survey Report – Recent Trends, Growth Opportunities, and Market Size and Share Global Forecast Analysis – 2024 - 2033
Benzyl Alcohol Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Benzyl Alcohol market revenue to generate USD 5.89 Billion by 2033, according to KDMI analyst’s growth analysis. The market is segmented by grade outlook, by application, by end-user and by region.
Benzyl Alcohol Market Size Survey Report – In a Glance
As per the survey report on global Benzyl Alcohol market, the market is projected to foresee a CAGR of 6.24% between 2024-2033, and further generate a market size of USD 5.89 billion by the end of 2033. In the year 2023, the market size was valued at USD 3.84 billion.
- The global Benzyl Alcohol market is projected to grow on account of the increasing demand in pharmaceutical industry.
- In Japan, the Benzyl Alcohol market growth can be attributed to the rising demand in personal care products.
- KDMI analyst’s growth analysis foresees stringent regulations to challenge the market growth.
- The Asia Pacific Benzyl Alcohol market is projected to dominate the global market.
Benzyl Alcohol Market Analysis
Benzyl alcohol is chemical which belongs to an aromatic alcohol family with a chemical formula of C7H8O. It is a colorless liquid with a mild yet pleasant odor. It is commonly used as a solvent in various industries, such as pharmaceuticals, cosmetics, and personal care products. It also acts as a preservative and antimicrobial agent in some formulations. Additionally, it is utilized in the synthesis of various chemicals and as a flavoring agent in food products. The global Benzyl Alcohol market is expanding due to the rising demand within the pharmaceutical sector. Benzyl Alcohol finds extensive use as a is used as a solvent, preservative, and intermediate in pharmaceutical industry for manufacturing of various product. The growth is attributed to its all-rounder applications and role in drug manufacturing processes. The global pharmaceutical market size was estimated at USD 1,560.53 billion in 2023 and it is expected to grow around USD 2,832.66 billion by 2033, showing a potential for the market growth. Merck KGaA, BASF SE, and Lanxess AG are some of the significant parties in the global market for Benzyl Alcohol.
Analyst’s Observation on Japan Benzyl Alcohol Market Survey
In Japan, the market growth for Benzyl Alcohol can be attributed to the rising demand in personal care products. The cosmetic market in Japan is experiencing a rapid growth, due to changing consumer preferences and a rising focus on skincare and beauty. Its flexible applications in cosmetics, skincare, and hair care product formulation contribute to its rising popularity among Japanese population. Consumers' preferences for high-quality products and the emphasis on skincare routines further explodes the demand. Japan’s Cosmetics Market was valued at USD 31.29 billion in 2022 and is expected to grow during the forecast period with a CAGR of 4.64%, driving the growth of the market. Nippon Shokubai Co., Ltd., Mitsui Chemicals, Inc, and. Sumitomo Chemical Co., Ltd. are some of the significant parties in the market for Benzyl Alcohol in Japan.
Benzyl Alcohol Market: Report Scope |
|
Base Year |
2023 |
Base Year Market Size |
USD 3.84 Billion |
Forecast Year |
2024-2033 |
Forecast Year Market Size |
USD 5.89 Billion |
CAGR Value |
6.24% |
Benzyl Alcohol Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Benzyl Alcohol Market Segmentation |
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Benzyl Alcohol Market Key Players |
Elan Chemical, Gujarat Alkalies and Chemical Limited, Hubei Greenhome Materials Technology, Inc., LANXESS, Merck KGaA, Tokyo Chemical Industry Co. Ltd, Tosoh Corporation, Shimmer Chemicals Pvt. Ltd, Valtris Specialty Chemicals, Wuhan Biet Co. Ltd, and others. |
Benzyl Alcohol Market Growth Drivers and Challenges
Increasing demand in pharmaceutical industry:
The rising demand in the pharmaceutical sector acts as a trigger for the expansion of the global Benzyl Alcohol market. Benzyl Alcohol's rising wide-ranging applications, such as its role as a solvent, preservative, and intermediate in pharmaceutical formulations. Its flexibility and compatibility with various drug manufacturing processes make it proficient, driving manufacturers to produce it in larger quantities, driving the market growth.
Substitution by alternative solvents:
The substitution of Benzyl Alcohol by alternative solvents causes a significant effect on its market growth. This challenge arises as industries seek eco-friendly or more cost-effective alternatives. The availability of such substitutes, offering similar properties and functionalities, impacts the demand for Benzyl Alcohol and limits its market expansion potential.
Benzyl Alcohol Market Segmentation
Our experts at KD Market Insights have segmented the global Benzyl Alcohol market research report as :
By Grade Outlook |
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By Application |
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By End-User |
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By Region |
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Benzyl Alcohol Market Regional Synopsis
The Asia Pacific Benzyl Alcohol market is majorly driven by due to industrialization and urbanization. Also, China’s benzyl alcohol market holds the largest market share, and the Indian benzyl alcohol market is fastest growing market in the Asia-Pacific region. These factors, with the diverse applications of Benzyl Alcohol across various industries, contribute to the market's growth landscape in the Asia-Pacific region. As per reports, the use of benzyl alcohol in various manufacturing industries has increased by 54%, driving the growth of the market.
As per our analysts at KD Market Insights, the following five players lead the Asia Pacific Benzyl Alcohol market growth:
- Golden Fragrances
- Pacific Cosmetics
- Summit Chemical Industries
Key Countries to Watch for in Asia Pacific Benzyl Alcohol Market |
Key Insights |
China Benzyl Alcohol Market to Register the Largest Regional Market Share in 2033 |
USD 0.53 Billion |
India Benzyl Alcohol Market to Grow with the Highest CAGR During 2024-2033 |
7.04% |
Benzyl Alcohol Market Competitive Landscape
Some of the key players who top the global Benzyl Alcohol market share:
- Elan Chemical
- Gujarat Alkalies and Chemical Limited
- Hubei Greenhome Materials Technology, Inc
- LANXESS
- Merck KGaA
- Tokyo Chemical Industry Co. Ltd
- Tosoh Corporation
- Shimmer Chemicals Pvt. Ltd
- Valtris Specialty Chemicals
- Wuhan Biet Co. Ltd
Benzyl Alcohol Market Recent Developments
- Shandong Lukang Pharmaceuticals received market approval from China's National Medical Products Administration (NMPA) for the use of benzyl alcohol as a chemical raw material.
- The Canadian government proposed adding the alcohols methanol, 1-butanol, and benzyl alcohol to the country's toxic substances list in Schedule 1 of the Canadian Environmental Protection Act. If the move is confirmed following public consultation, regulatory risk management measures will be implemented against the substance.
- Executive Summary
- Market Overview
- Key Findings
- Market Trends
- Market Outlook
- Introduction
- Scope of the Report
- Research Methodology
- Definitions and Assumptions
- Acronyms and Abbreviations
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Global Benzyl Alcohol Market
- Market Overview
- Market Size and Forecast
- Market Segmentation
- By Grade outlook
- By Application
- By End-User
- By Region
- Market Segmentation by Grade Outlook
- Industrial Grade
- Food Grade
- Pharmaceutical Grade
- Others
- Market Segmentation by Application
- Dielectric Solvent
- Bacteriostatic Preservative
- Cleaning Agent
- Epoxy Resins
- Synthetic Solvent
- Others
- Market Segmentation by End-User
- Food and Beverages
- Paints and Coating
- Pharmaceuticals
- Others
- Regional Analysis
- North America
- United States
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Canada
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Mexico
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- United States
- Europe
- United Kingdom
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Germany
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- France
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Italy
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Spain
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Rest of Europe
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- United Kingdom
- Asia Pacific
- China
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Japan
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- India
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Australia
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- South Korea
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Rest of Asia Pacific
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- China
- Latin America
- Brazil
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Argentina
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Colombia
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Rest of Latin America
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Brazil
- Middle East & Africa
- South Africa
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Saudi Arabia
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- UAE
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- Rest of Middle East & Africa
- Market Size and Forecast
- Key Trends and Developments
- Market Analysis by Grade outlook, by application, by end-user
- South Africa
- North America
- Competitive Landscape
- Market Share Analysis
- Company Profiles
- Elan Chemical
- Gujarat Alkalies and Chemical Limited
- Hubei Greenhome Materials Technology,INC.
- LANXESS
- Merck KGaA
- Tokyo Chemical Industry Co. Ltd
- Tosoh Corporation
- Shimmer Chemicals Pvt. Ltd
- Valtris Specialty Chemicals
- Wuhan Biet Co. Ltd
- Strategic Recommendations
- Appendix
- List of Tables
- List of Figures
- References
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Request for Customized Report- Publication date: 4th February 2025
- Base year: 2023
- Forecast year: 2024-2033
- Format: PDF, PPT,Word,Excel
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