According to the current analysis of Reports and Data, the global Phenoxyethanol Preservatives market was valued at USD 143.56 Million in 2021 and is expected to reach USD 225.61 Million by the year 2030, at a CAGR of 5.23%. Preservatives prevent any biological activity by conjoining with the bacterial cell wall. As a result, it is highly effective against gram-positive and gram-negative bacteria. These antimicrobial properties against mold formation, bacteria, and yeast are expected to be one of the factors propelling the growth of the global market in the coming years. Phenoxyethanol is used in manufacturing as preservative blends by adding it to other preservatives such as capryl glycol, ethylhexylglycerin, or hexylene glycol. There have been observations that though microorganisms can adapt to any environment, they are unable to adapt to the presence of Phenoxyethanol P5, which is a factor contributing to the high demand for these preservatives from the cosmetics industry.
Blended preservatives attain properties such as compatibility with proteins and nonionic compounds, low toxicity, and stability under heat and can act effectively against bacteria. They can be used for a more extensive pH range and are suitable for leave-on and rinse-off applications. Moreover, their effective antifungal properties can lead to its usage in hair care, makeup, sun protection, and skincare products. Preservatives are further used in the production of personal care and cosmetics such as ointments, detergents, cosmetics, and perfume owing to the approval for their usage as a preservative in many beauty products formulations.
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Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.
The report offers precise information about each market player along with global position, business expansion plan, license agreement, research and development investments, and product base expansion plans. The global Preservativesmarket is extremely competitive and comprises of key operating at global and regional levels. Major companies are focusing on developing new strategies like mergers and acquisitions, partnerships, collaborations, and new product launches to maintain their market position as well as enhance their product base.
The top 10 leading companies profiled in the report include BASF SE, Schülke & Mayr GmbH, Symrise AG, Akema Fine Chemicals S.r.l., Dow Dupont Inc., Galaxy Surfactants Ltd., Clariant AG, Ashland Global Holdings Inc., Lonza Group AG, Santa Cruz Biotechnology, Inc., Liaoning Kelong Fine Chemical Co. Ltd., Penta Manufacturing Company, Zhejiang Shengxiao Chemicals Co. Ltd., Thor Personal Care SAS, and Finetech Industry Limited among others
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Preservatives Market Segmentation based on Types:
- Phenoxyethanol P5
Preservatives Market Segmentation based on Application:
- Home & Personal Care
- Dyes & Inks
Preservatives Market Segmentation Based on Regions:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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