Phenoxyethanol Preservatives Market Size, Share, Growth, and Industry Analysis By Type (Reagent Grade, Pharmaceutical Grade, Chemical Grade), By Application (Personal Care And Cosmetics, Pharmaceuticals, Dyes And Ink), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

phenoxyethanol preservatives market Report Overview

• 

• Request a Free Sample to learn more about this report

The global phenoxyethanol preservatives market size was USD 96.5 million in 2022 and the market is projected to touch USD 146 million by 2032 at a CAGR of 4.2% during the forecast period.

Phenoxyethanol is a phenol derivative used as an antioxidant and preservative. It belongs to a class of compounds known as alkylphenols. The chemical can be found in a variety of personal care products such as skin creams, shampoos, conditioners, makeup and hair dyes. Phenoxyethanol also acts as an antimicrobial agent, e.g. in food, even at low concentrations (0.01%), it can prevent microbial spoilage in fresh produce such as apples or potatoes by more than 50%.

The demand for natural and organic preservatives is inhibiting the demand for synthetic preservatives such as phenoxyethanol. This is due to the growing awareness of the health benefits of organic and natural preservatives. This is expected to hinder the growth of the market. Time-consuming and expensive approval process for the use of synthetic preservatives is projected to hinder the growth of the phenoxyethanol preservative market during the forecast period.

COVID-19 Impact: COVID-19 Leads To Lack Of Raw Materials And Labor Results In Market Decline

The COVID-19 pandemic has been unprecedented and staggering, with the phenoxyethanol preservatives market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Lockdown measures introduced to prevent the spread of COVID-19 have affected the global industrial sector. In industry, the problem was the lack of raw materials and labor. The production of phenoxyethanol became difficult. The decline in production has caused a gap between supply and demand, which has hindered market growth. However, the shortfall will be compensated in the post-closure period as production is expected to be full. In the early stages of the pandemic, demand for applications such as cosmetics, home care, personal hygiene and other sectors decreased significantly. Demand is expected to recover after the pandemic.

Latest Trends

"Increasing Demand For Personal Care Products And Increasing Use Of Phenoxyethanol To Replace Parabens Fuel The Market Growth"

Increasing demand for personal care products is expected to drive the market growth of phenoxyethanol market. Phenoxyethanol is also added as a preservative to personal hygiene products to prevent bacterial attack and is used in water purification and stain removal. The benefits offered by phenoxyethanol in home care, hygiene and cosmetic products are expected to increase the demand for phenoxyethanol, thus fueling the market growth. The increasing replacement of parabens with phenoxyethanol is one of the main trends in the market. This is due to the growing demand for safe and paraben-free cosmetics. In addition, increased investment in R&D by manufacturers to develop more effective phenoxyethanol preservative blends for various cosmetic products is expected to further boost the phenoxyethanol preservatives market growth during the forecast period.

phenoxyethanol preservatives market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into reagent grade, pharmaceutical grade, and chemical grade.

 Reagent Grade is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into personal care and cosmetics, pharmaceuticals, dyes and ink.

Personal Care and Cosmetics will be dominating segment.

Driving Factors

"Demand For Household Cleaning Products To Increase the Market Demand"

The growth of the phenoxyethanol preservative market is expected to be fueled by the increasing demand for household cleaning products such as stains, dishwashing liquids, fabric softeners, etc.  Phenoxyethanol preservatives play a very important role in liquid detergents and cleaning products, as they help prevent spoilage during storage and extend the shelf life of cleaning products. Thus, the growth of the phenoxyethanol preservative market is expected to be fueled by the high demand for cleaning agents across the globe.

"Rising Global Demand For Cosmetic Products Is A Key Driver Of Revenue Growth "

Cosmetic manufacturers are increasingly using phenoxyethanol as a preservative to extend the shelf life of products. This chemical has antibacterial and bactericidal properties that extend its life. After the publication of studies on the harmful effects of paraben chemicals in skin care products, consumer preferences have steadily shifted to phenoxyethanol-based products that have been deemed safe by regulatory bodies such as the FDA and ECH. This chemical also has antioxidant properties necessary to eliminate harmful free radicals and peroxides that may be present in the cosmetic product or on the skin of the consumer. These factors increase the use of phenoxyethanol-based skin care and personal care products, which is expected to increase the revenue of the market in the coming years.

Restraining Factor

"Adverse Effects Experienced By People Using Products To Limit Income "

Although most of the phenoxyethanol preservatives are considered safe for use in skin care products and topical cosmetics, some phenoxyethanol preservatives are found to cause allergic reactions on the skin of users, which are expected to limit the growth of the market. Allergic reactions can be caused by the higher phenolic content of the preservative, which has a negative effect on the skin of the cosmetic user. This may lead to the implementation of additional finishing and quality assurance processes after the production of phenoxyethanol preservatives, which may hinder the revenue of the market. In addition, increasing demand for natural and organic preservatives to replace chemical preservatives such as phenoxyethanol is another factor that may hinder the growth of the market.

phenoxyethanol preservatives market Regional Insights

• 

• Request a Free Sample to learn more about this report

"Asia Pacific to Dominate the Market Due To Increasing Demand In The Healthcare Industry"

Based on regional analysis, the Asia Pacific accounts for the largest phenoxyethanol preservatives market share during the forecast period. Rapid growth in the pharmaceutical industry, where phenoxyethanol preservatives play an important role, is expected to increase its demand in the countries of the region and boost market revenue.

In 2021, UNICEF procured more than 113 million doses of vaccine to vaccinate children aged 9-15 against measles and mumps in Pakistan. This led to an increase in demand for vaccines and, as a result, phenoxyethanol used as a preservative. Growing demand for phenoxyethanol in the healthcare industry, owing to its widespread use as a pharmaceutical preservative, is expected to boost the revenue of the Asia-Pacific Phenoxyethanol preservative market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.

List of Market Players Profiled

• BASF (Germany)
• Clariant (Switzerland)
• Symrise (Germany)
• Air Liquide (U.S.)
• DowDuPont (U.S.)
• Ashland (U.S.)
• Akzo Nobel (Netherlands)
• Galaxy Surfactants
• Haihang Industry Co (China)
• Liaoning Kelong Fine Chemicals (China)
• Lonza (Switzerland)

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.