Phenoxyethanol is used as a preservative in various personal care products. Phenoxyethanol is also known as glycol ether or phenol ether. In fragrances, perfumes, cleansers, and soaps, phenoxyethanol is used as stabilizer, preservative, or antibacterial in order to prevent products from losing their effectiveness or spoilage. Phenoxyethanol is used as a fixative for cosmetics, perfumes, and soaps. It is also used as preservative in cleaning & furnishing home care products, pharmaceutical products, ink, toner, and colorant products.
Global phenoxyethanol market was valued at US$ 167.5 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).
Drivers
Increasing demand for phenoxyethanol from personal care & cosmetics industry is expected to boost growth of the global phenoxyethanol market over the forecast period. Phenoxyethanol is largely used as a fragrance component in cosmetics, home care, and personal care products (color cosmetics, wipes, skin and hair care products, detergents, and cleaners). It has aromatic properties that can optimize the scent of any skin product. For instance, according to Scientific Committee on Consumer Safety’s report ‘Opinion On Phenoxyethanol’ published by European Commission in 2016, the volume of 2-phenoxyethanol used as a fragrance ingredient in all finished consumer product categories is in the range of 100-1,000 metric tons annually, worldwide.
Among region, Asia Pacific held dominant position in the global phenoxyethanol market with revenue share of 33.1% in 2021, and is projected to maintain its dominance over the forecast period. This is owing to increasing disposable income in the region, which is expected to result in high expenditure on personal care and cosmetics products.
Figure 1. Global Phenoxyethanol Market Value Share (%), By Region, 2021
Market Restraints
Adverse effects of phenoxyethanol on human health is expected to act as a major factor hindering growth of the market during the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 167.5 Mn |
| Historical Data for: | 2017 to 2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 5.9% | Forecast Period: | 2022-2030 |
| Geographies covered : |
|
||
| Segments covered: |
|
||
| Companies covered: |
DowDuPont Inc., BASF SE, Clariant AG, Air Liquide Group (Schulke & Mayr), Ashland Global Holdings Inc., Lonza Group Ltd., Penta International Corporation, Galaxy Surfactants, and Akema Fine Chemicals. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Market Trends
Rising demand for personal care products is expected to boost the market growth of phenoxyethanol market. Phenoxyethanol is also added as a preservative in personal care products, in order to prevent bacterial attack and is used in aqueous cleaning and stain removing homecare products. Benefits offered by phenoxyethanol in home care, personal care, and cosmetics products are expected to increase demand for phenoxyethanol, thereby driving growth of the market.
Figure 2. Global Phenoxyethanol Market Value Share (%), By Application 2021
Among applications, the home & personal care segment accounted for the largest revenue share of 31.8% in the global phenoxyethanol market in 2021, and is expected to maintain its dominance over the forecast period. Phenoxyethanol is used in home and personal care products. Home and personal care industry is witnessing significant growth worldwide, which in turn is expected to propel growth of the phenoxyethanol market. Additionally, significant growth of the personal care products industry worldwide is expected to increase demand for phenoxyethanol.
Recent Developments
Competitive Section
Major players operating in the global phenoxyethanol market include DowDuPont Inc., BASF SE, Clariant AG, Air Liquide Group (Schulke & Mayr), Ashland Global Holdings Inc., Lonza Group Ltd., Penta International Corporation, Galaxy Surfactants, and Akema Fine Chemicals.
Phenoxyethanol is an oily and slightly sticky liquid with a faint rose-like smell. It is used as a preservative in various applications in pharmaceuticals, paints & coatings, dyes & inks, insect repellent, aquaculture, and metal working fluids. Phenoxyethanol is also used as an insect repellent or as an anesthetic in fish aquaculture. Aquaculture has the potential to become sustainable solution of fish production to cater to increasing demand for fish and fish products.
For instance, according to the report ‘The State of World Fisheries And Aquaculture’ published by Food and Agricultural Organization (FAO) in 2018, the global apparent consumption of fish increased to around 189 million tons in 2019, from around 159 million tons in 2016, whereas worldwide edible fish consumption in 2030 is projected to be 20% higher than that in 2019. Therefore, increasing demand for fish and fish products is expected to fuel growth of the aquaculture industry, thereby propelling the demand for phenoxyethanol.
Market Dynamics
Increasing consumer spending on cosmetics and personal care products are upsurging digital engagement activities, and shifting of distribution channels to e-commerce platforms are some of the factors propelling growth of the home & personal care products industry. This scenario is expected to create higher revenues for the phenoxyethanol market over the forecast period.
Among regions, in 2021, Asia Pacific held dominant position in the phenoxyethanol market and contributed revenue share of 33.1% in the global market. This is attributed to significant growth of the cosmetics and personal care industry coupled with the expansion of pharmaceutical industry in the region.
According to India Brand Equity Foundation (IBEF), India cosmetics and personal care market was valued at US$ 9.65 Bn in 2019, and is expected to reach US$ 20.0 Bn by 2025, backed by increasing disposable income of the population and increasing awareness regarding aesthetic appeal. This is expected to propel demand for phenoxyethanol from the cosmetics and personal care industry over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients