Global Anisole Market Report and Forecast 2024-2032

Global Anisole Market Outlook

The global anisole market stood at a value of around USD 103.98 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.10% to reach about USD 163.06 million by 2032.

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Increasing Demand for Anisole with Purity Levels of Above 99.5% to Aid the Anisole Industry

The utilisation of anisole with purity above 99.5% in manufacturing perfumes and deodorants is driving the growth of the market. As high-purity compound leads the development of high-quality end use products, the demand for anisole with purity above 99.5% is significantly surging. In addition, the adoption of modern manufacturing techniques as well as the increasing end-use industries of anisole is projected to augment the growth of the overall anisole industry in the coming years.

Europe Accounts for a Significant Share in the Market for Anisole

The anisole industry in Europe is being driven by the introduction of various favourable government initiatives to promote the use of anisole. The increasing accessibility to information regarding the excellent properties of anisole is fuelling the market growth. With the thriving chemical industry in countries such as France, Spain, the United Kingdom, and Italy, among others, the demand for anisole is significantly surging. Furthermore, the growing expansion of major luxury brands in the region such as Armani, Gucci, and others is anticipated to enhance the demand for anisole and provide lucrative opportunities to the market in the forecast period.

Anisole Market Segmentation

Anisole, variously known as methoxybenzene, is a pleasant-smelling colourless compound that is used as a solvent in perfumes and flavouring. The compound can be procured in two ways- by heating phenol with methyl alcohol or by distilling anisic acid. It is typically deployed as solvent for chemical reactions in the chemical and pharmaceutical industries.

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Based on purity, the market can be segmented into:

• Up To 99.5%
• Above 99.5%

The major applications of anisole include:

• Perfumes
• Dyes
• Pharmaceuticals
• Pesticides
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Application of Anisole in Perfumes and Deodorants Manufacturing to Boost the Market Growth

The rising applications of anisole in perfumes and deodorants are driving the market growth. With the growing disposable incomes, rising standards of living, growing inclination of millennials towards luxury brands and products, and aggressive promotion and branding strategies adopted by the major personal care companies, the consumption of perfumes and deodorants is considerably increasing. This, in turn, is bolstering the market for anisole. Moreover, the increasing demand for anisole to enhance the flavour of food in the food and beverage industry is estimated to propel the market growth in the forecast period. Additionally, the thriving pharmaceutical industry across emerging economies owing to the global increase in chronic diseases is anticipated to provide further impetus to the anisole industry in upcoming years.

Key Industry Players in the Global Anisole Market

The report gives a detailed analysis of the following key players in the global anisole market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Solvay SA
• Westman Chemicals Pvt. Ltd.
• Benzo Chem Industries Pvt. Ltd.
• Huaian Depon Chemical Co., Ltd.
• Clean Science and Technology Private Limited.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report