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  • Published On : Jul 2022
  • Code : CMI2701
  • Industry : Bulk Chemicals
  • Pages : 130
  • Formats :

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

Phenoxyethanol  | Coherent Market Insights

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.  

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Phenoxyethanol Market Report Coverage

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 :
  • Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Application: Home & Personal Care, Pharmaceuticals, Dyes & Inks, Paint & Coatings, Others
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:
  • Rising demand for personal care products Growing applications of phenoxyethanol in pharmaceutical products as a preservative  
Restraints & Challenges:
  • Adverse effects of phenoxyethanol on human health

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

  • In July 2022, Specialty chemicals company, LANXESS completed the acquisition of the microbial control business unit of the U.S. group International Flavours & Fragrances Inc. (IFF). Through this acquisition, LANXESS added two production sites to its network in St. Charles, Louisiana, and Institute, West Virginia, both in the U.S. The new business will be integrated into the material protection products business unit of LANXESS. The acquisition will strengthens LANXESS position in the industrial preservatives business.
  • In July 2021, Rossari Biotech, a speciality chemicals manufacturer announced the acquisition of Tristar Intermediates. The acquisition provides Rossari to enhance the product portfolio, and help to provide stronger presence international markets and access to newer technologies. Moreover, Rossari Biotech will occupy Tristar Intermediate’s business spans in preservatives, aroma chemicals, and home and personal care additives with high-tech distillation facilities. 
  • In March 2020, Clariant expands the personal care industry’s increasingly-limited preservation options for both traditional and natural formulations with the launch of next generation preservation booster Velsan Flex. The 93% RCI (Renewable Carbon Index) innovation is highly versatile and effective in combination with all preservative types, enabling a reduction of typical preservative by as much as 50% while still achieving safe antimicrobial protection for cosmetics.

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:

  • This report provides an in-depth analysis of global phenoxyethanol market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global phenoxyethanol market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study 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
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global phenoxyethanol market report caters to various stakeholders in this industry including investors, suppliers,  phenoxyethanol service providers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global phenoxyethanol market

Detailed Segmentation:

  • Global Phenoxyethanol Market, By Application:
    • Home & Personal Care
    • Pharmaceuticals
    • Dyes & Inks
    • Paint & Coatings
    • Others
  •  Global Phenoxyethanol Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country/Region:
        • Middle East
        • Africa
  • Company Profiles
    • DowDuPont Inc
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BASF SE
    • Clariant AG
    • Air Liquide Group (Schulke & Mayr)
    • Ashland Global Holdings Inc
    • Lonza Group Ltd.
    • Penta International Corporation
    • Galaxy Surfactants
    • Akema Fine Chemicals

“*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global phenoxyethanol market was valued at around US$ 167.5 Million in 2021.
Increasing demand for phenoxyethanol from personal care & cosmetics industry is one of the major factors that is expected to propel growth of the market over the forecast period. 
Rising demand for personal care products is the new trend in the market, which is expected to boost market growth in the forecasted period.
Adverse effects of phenoxyethanol on human health is one of the major factors that is expected to hamper growth of the market over the forecast period. 
Major players operating in the 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.
The market is estimated to grow at around 5.9% CAGR in the forecast period (2022-2030).

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