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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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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.
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.
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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:
By end use, the market has been divided into:
On the basis of application, the market has been categorised into:
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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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.
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:
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.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by End Use |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market attained a value of nearly USD 237.49 million.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 335.15 billion by 2032.
The market is estimated to grow at a CAGR of 3.90% between 2024 and 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising application of benzyl alcohol in variety of products including paints and coatings, adhesives and sealants, cosmetics, and pharmaceuticals, increasing utilisation of the product as a local anaesthetic, and the thriving food and beverage industry.
The increasing competition between the major hair and skincare care companies leading to heightened research and development activities are likely to be the key trends in the market.
Solid, powder, and liquid, among others are the are the different products based on which the market has been divided.
Personal care, food and beverages, pharmaceutical, and paints and coatings, among others is the segmentation of market based on end use.
Coating solvent, stabiliser, resin solvent, and medicine preservatives, among others are the different applications considered in the market report.
The major players in the industry are LobaChemie Pvt. Ltd., Merck KGaA, Malhotra Organic Ltd., Greenfield Global Inc., and LANXESS AG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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