The global phenoxyethanol market was valued at US$ 159.0 Mn in 2018, according to Phenoxyethanol Market Report, by Application (Home & Personal Care, Pharmaceuticals, Dyes & Inks, Paint & Coatings, and Others) and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa).
The global phenoxyethanol market is projected to reach US$ 248.8 Mn by 2027, exhibiting a CAGR of 5.2% during the forecast period (2019-2027). The market is expected to witness substantial growth over the forecast period, attributing to increasing demand for phenoxyethanol from the personal care & cosmetics industry and pharmaceuticals industry. Phenoxyethanol is used as a preservative in pharmaceutical products such as vaccines. Thiomersal is the majorly used preservative in human vaccines and veterinary vaccines. However, thiomersal is a mercury containing organic compound, which can lead to adverse health effects due to its high mercury content. Therefore, vaccine manufacturers are focused on replacing thiomersal with ‘less toxic’ substitute such as phenoxyethanol. Phenoxyethanol is well-known for its antimicrobial efficacy against a range of microorganisms and it is particularly effective against gram-negative microorganisms such as Pseudomonas species. Therefore, phenoxyethanol is a potential preservative that can be used in pharmaceutical formulations. For instance, 2-phenoxyethanol is used as an alternative preservative in some human vaccines such as Tetravac, Pediacel, Revaxis, and Repevax. It is also currently used as a preservative in one U.S. Food and Drugs Administration (FDA)-approved available vaccine, Ipol, for the prevention of polio, at a concentration of 0.5%. However, adverse effects of phenoxyethanol on human health is predicted to hamper growth of the phenoxyethanol market over the forecast period. Phenoxyethanol, if used excessively or used for long duration, can cause adverse effects on human health such as skin and lung irritation. Therefore, several companies are focused on using safer alternatives to phenoxyethanol such as natural products (fermented radish root, essential oils and herbs such as rosemary, clove, thyme, cinnamon, and grape seeds). Several synthetic alternatives such as sodium benzoate or benzyl alcohol are also being used as substitute preservatives.
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