According to a new market report published by Lucintel, the future of the benzyl alcohol market looks promising with opportunities in paint, coatings, and epoxy resins. The global benzyl alcohol market is expected to grow with a CAGR of 5% from 2020 to 2025. The major drivers for this market are increasing demand from food and beverages, growing demand from cosmetics and personal care, and usage in the paints and coatings.
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In this market, dielectric solvent, bacteriostatic preservative, cleaning agent, epoxy resins, synthetic solvent, and others are the major applications of benzyl alcohol. Lucintel forecasts that bacteriostatic preservative will remain the largest segment over the forecast period because of very low concentration in the topical drugs, medicines, and cosmetics to preserve the products from producing bacteria and kill them when they reproducing.
Within this market, personal care, food and beverages, pharmaceuticals, paints and coatings, and others are the major end users of benzyl alcohol. Food and beverages will remain the largest segment by application type over the forecast period because owing to the increasing food demand from the ever-increasing global population, and rising spending power.
Asia-Pacific is expected to witness the highest growth over the forecast period because of owing to the demand from applications like solvents, preservatives, food additives, etc. and rising per capita healthcare expenditure attributing in the growth of pharmaceutical industry, which in turn, fueled the demand of benzyl alcohol during the forecast period.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global benzyl alcohol market by application, end users, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Benzyl Alcohol Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global benzyl alcohol market by application, end users, and region as follows:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Dielectric Solvent
Bacteriostatic preservative
Cleaning agent
Epoxy Resins
Synthetic Solvent
Others
By End User [Value ($ Million) shipment analysis for 2014 – 2025]:
Personal Care
Food and beverages
Pharmaceuticals
Paints and coatings
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Germany
France
Italy
Spain
Russia
China
Japan
India
Australia
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.