Transparency Market Research has published a new research report titled “Phenoxyethanol Preservatives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” to their report store.
Albany, NY -- (SBWIRE) -- 10/04/2016 -- The study presented here is based on a report by Transparency Market Research (TMR) titled "Phenoxyethanol Preservatives (Phenoxyethanol P5 and Phenoxyethanol P25) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020." As per TMR, the opportunity in the global market for phenoxyethanol preservatives is likely to increase at a CAGR of 5.90% during the period from 2014 to 2020 and reach a value of US$143.2 mn by the end of the forecast period. Currently, the home and personal care sector is leading the demand for phenoxyethanol preservatives. The segment is expected to retain its position in the coming years, with demand share increasing to 45.3% by 2020.
The global phenoxyethanol preservatives market witnesses a high degree of competition, thanks to increasing consolidation activities by leading players, finds a new report by Transparency Market Research (TMR). In 2013, the market demonstrated a moderately fragmented landscape where the top four companies, namely, BASF SA, Galaxy Surfactants Ltd., The Dow Chemical Co., and Clariant Corp., could hold a share of only 49.4%. Currently, these players are focusing more on cost reduction through innovation in products and technologies in order to gain an edge over their competitors.
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Increasing Production of Synthetic Preservatives to Ensure Asia Pacific's Dominance
The report also presents a geographical analysis of the worldwide phenoxyethanol preservatives market. It has identified Asia Pacific, Europe, North America, and the Rest of the World as the key geographical segments of this market. With their growing usage in cosmetics and detergents, the demand for phenoxyethanol preservatives has escalated significantly in Asia Pacific. As a result, Asia Pacific has emerged as the leading market for phenoxyethanol preservatives across the world.
Furthermore, the increasing production of synthetic preservatives in Asia Pacific is likely to ensure the dominance of this region in the global market for phenoxyethanol preservatives over the forecast period. By 2020, Asia Pacific is anticipated to hold a share of nearly 45% in the overall market.
On the flip side, North America and Europe are expected to witness a sluggishness in the demand for phenoxyethanol preservatives in the coming years. The growing preference of consumers for natural-preservative-based cosmetics will reflect negatively on the markets for phenoxyethanol preservatives in these regions over the next few years, notes the research study.
Efficiency of Phenoxyethanol as Bactericide Fuels Demand for Phenoxyethanol Preservatives
"The growing interest of consumers in a well-groomed physical appearance has increased the demand for cosmetics, which consecutively, has been driving the need for phenoxyethanol preservatives," says an analyst at TMR. Phenoxyethanol acts as a bactericide in product formulations, thereby inhibiting the growth of bacteria in cosmetic products. Its effectiveness against gram positive and gram negative bacteria has augmented its usage in cosmetics significantly. In addition, phenoxyethanol preservatives limit the growth of yeast in cosmetics and increase their shelf life, which is also influencing their demand greatly.
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Apart from this, the augmented usage of phenoxyethanol preservatives in household cleaners due to the efficiency of phenoxyethanol as antimicrobial preservatives is likely to boost their consumption remarkably in the coming years.
Availability of Substitutes in Abundance to Limit Demand for Phenoxyethanol Preservatives
Although the market is flourishing currently, the availability of a number of substitutes is likely to obstruct the growth trajectory of this market over the coming years. Apart from this, the increasing shift of consumers towards natural and organic cosmetics is also projected to restrict the demand for phenoxyethanol preservatives in the near future, states the research report.
This report segments the global phenoxyethanol preservatives market as follows:
-Home and personal care
-Dyes and inks
-Others (Including metalworking fluids, chemical intermediates, jet fuel additives, etc.)
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