July 21, 2021
According to the research report titled ‘2-Phenylethanol Market Size By Product (Synthetic, Natural), By Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals) Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market 2021- 2027‘, available with Market Study Report LLC, global 2-phenylethanol market is slated to grow significantly over 2021-2027.
Escalating adoption of the compound in several products like beverages and repellants, vigorous research efforts for developing efficient production methods as well as increasing demand for cosmetics products are catalyzing the growth of global 2-phenylethanol market.
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Moreover, soaring focus on detecting and resolving issues with current production techniques as well as awareness pertinent to neighboring toxic byproducts from the chemical synthesis of the compound are bolstering the demand for naturally derived 2-phenylethanol.
For the unversed, 2-phenylethanol is a major higher alcohol that has a flowery rose-like odor. It is produced from catabolism of amino acids and sugars through Ehrlich reaction.
On the contrary, availability of superior performance alternatives for phenethyl alcohol is expected to restrain the growth of the business domain during the forecast period.
In terms of product gamut, the marketspace is divided into natural and synthetic, whereas the application scope includes pharmaceuticals, laundry & homecare, cosmetics & personal care, food & beverages, and others. The others application segment consisting of paper products, polishes & waxes, plastic & rubber and textiles is anticipated to garner a valuation of USD 16 million by the year 2027.
From regional frame of reference, Latin America industry is anticipated to register momentous growth rate over 2021-2027, subsequently accumulating a valuation of USD 20.5 million by 2027, creditable to surging research activities on repellants. Parallelly, Middle East & Africa market is expected to record 4.4% CAGR through 2027.
Leading companies in global 2-phenylethanol market include LyondellBasell Industries N.V., Alkyl Amines Chemicals Ltd. (AACL), Eternis Fine Chemicals Limited, KDAC CHEM Pvt Ltd., YingYang (China) Aroma Chemical Group, Toyotama International Inc., Zhejiang Novorate Biotech Co. Ltd., Symrise AG, Shandong Xinhua Pharmaceutical Company Limited, Shanghai Pu-Jie Fragrance Co. Ltd., Firmenich S.A., Apple Flavor & Fragrance Group Co. Ltd., and Vigon International Inc. among others.