Transparency Market Research’s new market study on the global phenoxyethanol preservatives market provides valuable insights into the market’s progression for the 2014-2020 period. According to the report, the global phenoxyethanol preservatives market will expand at a modest 5.9% CAGR from 2014 to 2020. Due to this, the market’s valuation of US$95.8 mn in 2013 will reach US$143.2 mn by 2020. The report is titled “Phenoxyethanol Preservatives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020” and is available for sale on the company website.
Phenoxyethanol preservatives find extensive applications in home and personal care products due to their broad spectrum of antibacterial properties. Currently, the phenoxyethanol preservatives market is exhibiting substantial growth due to an ever-increasing demand for cosmetics and personal care products for aesthetic and health reasons. This is mainly due to the increasing use of phenoxyethanol-based blends for these products. In particular, phenoxyethanol is utilized in leave-on and rinse-off personal care products in concentrations as high as 5% (w/w).
With increasing purchasing power, predominantly in emerging economies, purchase of discretionary products such as color cosmetics and eye make-up is on the rise. Consumer access to international markets is also a reason for the higher spending on cosmetic products. This, in turn, will drive the phenoxyethanol preservatives market for the 2014-2020 period.
However, increasing preference for natural and organic products will challenge the growth of this market. In addition, the availability of cost-effective substitute products such as isothiazolinone, formaldehyde and formaldehyde de-donor, iodopropynyl butylcarbamate (IPBC), and parabens is also hampering development of this market.
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By product, phenoxyethanol P5 is the largest product segment of the global market. Due to lower free phenol content, this product segment will expand at a significant rate during the forecast period. The high concentration of free phenol in preservatives is considered toxic in end product formulations, which is why formulators refine phenoxyethanol preservatives to derive a product with safe free phenol concentrations to be used in blends and other end products.
On the other hand, phenoxyethanol P25 preservative products have higher free phenol content than phenoxyethanol P5 preservative products. Thus, the usability of these products is lower across various end-use industries.
The pharmaceuticals application segment will exhibit the fastest volume growth in the global market for phenoxyethanol preservatives in the coming years. In 2013, the segment held a share of more than 15% in the global market. These products are used for their antibacterial properties in vaccines for polio, hepatitis B, Haemophilus influenza, tetanus, diphtheria, and pertussis. Thus, the increasing demand for these vaccines for protection against diseases will accentuate demand for phenoxyethanol preservatives. Home and personal care stands as the largest application segment and is expected to exhibit above-average growth in the global market in the coming years.
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