Albany, NY -- (SBWIRE) -- 11/21/2017 -- Transparency Market Research has published a new report titled "Phenoxyethanol Preservatives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020." According to the report, the global phenoxyethanol preservatives market was valued at US$ 95.8 Mn in 2013 and is anticipated to reach US$ 143.2 Mn by 2020, expanding at a CAGR of 5.9% between 2014 and 2020.
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Phenoxyethanol preservatives are largely used in the home and personal care application industry, as these provide a broad spectrum of antibacterial properties. The market for phenoxyethanol preservatives is expanding at a substantial rate owing to strong growth in cosmetic products coupled with shift towards phenoxyethanol-based blends. Phenoxyethanol is used in leave-on and rinse-off personal care products with maximum concentration of up to 5% (w/w). Currently, customer spending on discretionary products such as eye make-up and color cosmetics is rising due to increasing per capita income and wider access to international markets. Thus, demand for these cosmetics is growing at a rapid pace. This, in turn, is estimated to drive the phenoxyethanol preservatives market between 2014 and 2020.
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Consumer shift towards natural and organic cosmetic products is projected to hamper the phenoxyethanol preservatives market during the forecast period. Additionally, availability of large number of cost-effective substitutes in the market such as isothiazolinone, iodopropynyl butylcarbamate (IPBC), formaldehyde & formaldehyde-donor, and parabens is likely to hamper market growth. The wet wipes and tissue market is expected to provide significant opportunities for phenoxyethanol in the home and personal care industries.
Phenoxyethanol P5 is the largest product segment in the phenoxyethanol preservatives market. This product segment is anticipated to expand at a significant rate due to lower free phenol content. Free phenol in preservatives is considered impure and toxic in the end product formulation. Thus, formulators and blenders refine phenoxyethanol preservatives in order to obtain pure and safe preservatives before using them in blends and end-products. Phenoxyethanol P25 preservatives have relatively high free phenol content compared to Phenoxyethanol P5. Thus, the utility of these preservative grades across various application industries is comparatively lower.
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In terms of volume, pharmaceuticals is estimated to be the fastest growing application segment in the phenoxyethanol preservatives market in the near future. The segment accounted for over 15% share in 2013. Phenoxyethanol preservatives are used as antibacterial preservatives in several pharmaceutical vaccines such as polio, tetanus, hepatitis B, diphtheria, Haemophilus influenzae, and pertussis. Thus, increasing demand for such vaccines is projected to accelerate demand for phenoxyethanol preservatives. Home and personal care is the largest application segment in the phenoxyethanol preservatives market. It is projected to exhibit above average growth rate during the forecast period. Ointment in the home and personal care segment is likely to exhibit the slowest growth rate in the near future.
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The global phenoxyethanol preservatives market is moderately fragmented in nature; the top four players accounted for nearly 50% share in 2013. However, remaining 50% share of the market is largely distributed among various small-scale players. Key players in the phenoxyethanol preservatives market include BASF SE, The Dow Chemical Company, Galaxy Surfactants Ltd., Jiangsu Jiafeng Chemical Co., Ltd., Symrise, Jinan Haohua Industry Co., Ltd., Clariant Corporation, and Haihang Industry Co., Ltd.