Transparency Market Research Report Added "Benzyl Alcohol Market" to its database.
Albany, NY -- (SBWIRE) -- 06/08/2015 -- Benzyl alcohol is an aromatic alcohol with a pleasant odor and is colorless in nature. Benzyl alcohol is a very useful solvent owing to its polarity and low toxicity. Moreover benzyl alcohol is partially soluble in water and completely soluble in other alcohols. Benzyl alcohol finds application in a variety of end-use industries including medical and healthcare, cosmetics, food and beverage and paints & coatings among others. Benzyl alcohol is widely used in a variety of cosmetic formulations as a preservative, viscosity decreasing agent, solvent and fragrance component. Use of benzyl alcohol in food substances is another major application area of the compound. It is used as a flavoring substance in food & beverages, as well as chewing gums. Benzyl alcohol solution is approved for the preparation of certain pharmaceutical products. The pharmaceutical industry also use low concentration of benzyl alcohol to preserve intravenous medications.
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The benzyl alcohol market is driven by its use in the food & beverage industry. Benzyl alcohol is FDA approved for application as synthetic flavoring agent and can be applied to food directly. Benzyl alcohol is extensively used to manufacture cosmetics and personal care products. Benzyl alcohol has been approved by CIR (Cosmetic Ingredient Review) for use in cosmetic products. The chemical can be used in cosmetic products up to a maximum of 5% concentration and up to a maximum of 10% concentration in hair dyes. In the European Union however, benzyl alcohol is allowed in cosmetics and personal care products up to maximum concentration of 1%. The high growth in the cosmetics industry is a driver for the benzyl alcohol market. Growth of cosmetics market in Asia Pacific region provides for good opportunity for the benzyl alcohol market. Use of benzyl alcohol in the medical and healthcare industry is another major driver for the market. The primary use of benzyl alcohol in pharmaceuticals is in pediculicides (medicines used for lice treatment). Apart from its use as pediculicides, it is also used as preservative solutions for intravenous drugs. Use of benzyl alcohol as a solvent for solvent based paints & coatings, lacquers and inks is another growth driver for the market.
Benzyl alcohol market is slightly restrained by its mild toxicity, which prevents extensive uses in most applications. Exposure to benzyl alcohol can cause substantial harm to infants. However, the growing volume of products in its end use industries augurs well for the overall growth of the market in the near future.
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North America accounts for the largest market for benzyl alcohol, primarily owing to the high volume cosmetics market as well as packaged food market. The demand from North America is followed by that from Europe. Western Europe accounted for the maximum demand among the European region, with moderately stagnant demand rise from the Eastern European countries. However, the best opportunity for the growth of benzyl alcohol market lies in the rapidly developing market of Asia Pacific. High population coupled with improving macro-economic trends in most of the Asia Pacific region is expected to augment the market for benzyl alcohol in the fore seeable future.
Some of the major companies engaged in the benzyl alcohol market are Lanxess AG, U.S. Chemicals LLC, Symrise GmbH & Co. KG and BASF SE among many others.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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