Albany, NY -- (SBWIRE) -- 10/02/2018 -- Presence of numerous small and large phenoxyethanol manufacturers all over the world, makes its market highly competitive, finds a report Transparency Market Research. It also finds that the vendor landscape is highly concentrated in China. In order to succeed in such a cutthroat environment, companies need to go the extra mile by undertaking scientific research to prove the safety and efficiency of their products and communicate the same to their customers, observes the report.
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Some of the companies that have rose to prominence using the above strategies in the global phenoxyethanol market are The Dow Chemical Company, Lonza, Procter & Gamble Co. (P&G), Galaxy Surfactants Ltd., BASF SE, Clariant, Penta Manufacturing Company, LLC., Ashland Inc., Finetech Industry Limited, and Akema Fine Chemicals.
Our report predicts that the global phenoxyethanol market will likely rise at a lackluster 4.9% CAGR over the course of the forecast period starting from 2017 and ending in 2025. Expnading at this pace, the market which was worth US$170.3 mn in 2016, is predicted to attain a value of US$260.3 mn by 2025.
Phenoxyethanol finds application in making paint additives, home care and personal care products, architectural and industrial coatings, pharmaceuticals, and inks and dyes, among others. Among them, the home care accounts for most of its demand since phenoxyethanol is used in formulation of home-cleaning fluids and detergents. The homecare segment held more than 18.0% share in the market in 2017 and going forward is expected to expand it further.
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Geographically, Asia Pacific holds a sway over the global market for phenoxyethanol, mainly because of China which is not just at the forefront of production but also consumption on account of its massive population, and rapid development of its economy. Overall, most of the demand for phenoxyethanol in Asia Pacific is generated by home care applications. Paints, inks and dyes, and pharmaceuticals are also serving to push up demand.