Global Benzyl Alcohol Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Benzyl Alcohol Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” report has been recently generated by Trusted Business Insights, and offers in-depth insights, revenue details, and other vital information regarding the global benzyl alcohol market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global benzyl alcohol market report has been segmented on the basis of end-user application and region.

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This report is based on synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.

Introduction:

Benzyl alcohol is a liquid which is colorless, has a sharp burning taste and slight odor. It is used as a local anesthetic and it helps to reduce pain related with LIDOCAINE injection. In addition, it is used in manufacturing of additional benzyl compounds, as a medical aid, in perfumery and essence. It is a favorable solvent owing to its divergence, low harmfulness, and low vapor pressure. Sources of benzyl alcohol include numerous flowers, fruits and tea.

Dynamics:

The global benzyl alcohol market is expected to register a considerable growth rate over the forecast period, owing to increasing demand for benzyl alcohols in a wide variety of cosmetic formulations as a fragrance component, solvent, viscosity-decreasing agent, and preservative. Increasing standards of living among the global population is driving demand for cosmetic and life care product, which in turn is expected to augment growth of the global benzyl alcohol market. In addition, growing application of benzyl alcohol in production of paints and coatings, food and beverages, medicines and drugs is also expected to drive growth of the global market over the forecast period. Booming growth of automobile and construction industries is leading to an increasing demand for paints and coatings, which in turns expected to drive demand for benzyl alcohol. Rising expansion of pharmaceutical industries, coupled with increasing health issues, is driving demand for drugs which is expected to drive growth of the global market. Moreover, the solvent properties of benzyl alcohol have been beneficial for the production of inks, shellacs, waxes, dyes, polishes are also driving demand for benzyl alcohol, which in turn is expected to drive growth of the global market, over the estimated time period.

Harmful side effects of benzyl alcohol used in cosmetic products or drugs may affect demand for benzyl alcohol and is expected to impact growth of the global benzyl alcohol market to a certain degree over the forecast period. In addition, availability of substitutes such as isopropyl alcohol, toluene, etc. may affect growth of the global market. On the other hand, increasing application of benzyl alcohol in personal care products has been a recent trend in the personal care industries and is expected to create revenue generation opportunities for the players in the global market over the forecast period.

Analysis by Region:

North America benzyl alcohol market is at present dominating in the global market, owing to the rising demand for benzyl alcohol from pharmaceutical, paints and coatings, and personal care industries, coupled with growth of mentioned industries in the region. On the other hand, Asia Pacific market is projected to register a highest rate of growth owing to the growing pharmaceutical and food & beverages industry over the forecast period.

Global Benzyl Alcohol Market Segmentation:

Segmentation by End-user Application:

Personal Care
Food & Beverages
Pharmaceutical
Paints & Coatings
Others