Global Industrial Benzyl Alcohol Market Report and Forecast 2024-2032

Global Industrial Benzyl Alcohol Market Outlook

The global industrial benzyl alcohol market size stood at a value of around USD 237.49 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.90% to reach USD 335.15 million by 2032.

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Increasing Demands from the Pharmaceutical Sector is Driving the Global Industrial Benzyl Alcohol Industry

Liquid benzyl alcohol solution with 10% concentration of the compound is utilised as a local anaesthetic and as an anti-microbial agent. In this regard, the product is witnessing a heightened demand from the healthcare sector. Over the forecast period, the benzyl alcohol lotion is likely to gain traction in the pharmaceutical industry owing to its anti-lice properties. The compound is helpful in various hair and scalp medications. 

Meanwhile, benzyl alcohol is utilised as a solvent in the production of epoxy resin coatings and inks, which is a crucial driving factor of the market. Liquid benzyl alcohol is also a crucial ingredient in the manufacture of perfumes. Hence, the increasing demand for perfumes is likely to propel the industrial benzyl alcohol market in the coming years. 

Asia Pacific Region Accounts for a Substantial Market Share for Industrial Benzyl Alcohol

The market in the Asia Pacific region is being driven by the strong supply chain of the product owing to the heightened demand from the pharmaceutical and food and beverage industries. The large population base in the emerging economies such as India and China is likely to generate a high demand for the downstream cosmetic products of benzyl alcohol. This factor is further contributing to the market growth. 

Over the forecast period, the strong foothold of major paints and coating suppliers in the region is likely to be a key driving factor, owing to rapid urbanisation and the thriving industrial construction sector. The increasing consumption of adhesives, sealants, and pharmaceutical products in China is likely to lead to an increased demand for industrial benzyl alcohol in the near future.

Market Segmentation

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Industrial benzyl alcohol is defined as a colourless aromatic alcohol which has a pleasant odour. It has a burning taste and is generally used as a flavouring agent in foods. The compound is procured by hydrolysing benzyl chloride. It is marginally denser than water and is used extensively in the industrial sector. 

Based on product, the industrial benzyl alcohol market can be segmented into:

• Solid

• Powder

• Liquid

• Others

By end use, the market has been divided into:

• Personal Care

• Pharmaceutical

• Food and Beverages

• Paints and Coatings

• Others

On the basis of application, the market has been categorised into:

• Coating Solvent

• Stabiliser

• Medicine Preservatives

• Resin Solvent

• 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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Heightened Growth of the Personal Care Sector Sector to Boost the Growth of the Industrial Benzyl Alcohol Industry

Benzyl alcohol is used in bath products, baby products, soaps and detergents, and skincare products, among others. Hence, the heightened growth attained by the personal care sector is driving the demand for the industrial benzyl alcohol market. In addition to this, the growing research and development activities aimed towards developing high-quality skin and hair care products is generating significant growth opportunities for the product. 

In the coming years, the increasing use of benzyl alcohol in the food and beverage industry as a food flavouring agent in various cuisines is anticipated to increase the utilisation of the product in food service platforms such as restaurants and hotels. 

Benzyl alcohol is also known to increase the shelf life of food substances. Therefore, the anticipated increase in packaged mushrooms, cranberries, and honey, among others, is likely to contribute to the market growth in the coming years. The increasing application of the compound in paints and coatings is likely to bolster the market growth owing to the thriving construction industry.  

Key Players in the Global Industrial Benzyl Alcohol Market

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

• LobaChemie Pvt. Ltd.

• Merck KGaA 

• Malhotra Organic Ltd.

• Greenfield Global Inc.

• LANXESS AG 

• 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