Global Benzyl Benzoate Market by product type (pharmaceutical grade, Industrial grade, flavours and fragrance grade) by application (pharmaceuticals, textiles, flavour and fragrances, plasticizers and others) – Global Industry, Insights, Trends, And Forecast – 2017 To 2025

Created On: Oct-2018
Report ID: IR308
Format: PDF

Global Benzyl Benzoate Market: Introduction

Benzyl Benzoates is an ester compound formed by the process of condensation of benzyl alcohol and benzoate. It is extensively used for in the pharmaceutical industry and is regarded as an important medicine for the treatment of scabies and lice. Benzyl benzoate is mentioned in the World Health Organization’s essential medicines needed in the human health system. The growing usage in the pharmaceutical and flavour and fragrance applications is the major factor attributing to the growth of the global benzyl benzoate market. Benzyl benzoate can also be used for non-medical applications such as in textiles and as plasticizers. It is also used as a dye carrier, repellent for mosquitoes and as a solvent for cellulose derivatives among others.

BENZYL BENZOATE MARKET: The global market is projected to grow at a CAGR of over 4% during the forecast period

The growing demand from various applications such as pharmaceuticals, plasticizers and textiles among others is projected to be one of the factors driving the global Benzyl Benzoate market during the forecast period. The growing pharmaceutical industry in the developing regions is projected to further boost the growth of the benzyl benzoate market during the assessment period. Moreover, with the rising focus towards research and development the major players in the Benzyl benzoate market are focusing on new product development and other innovative strategies which in turn will surge the growth of the Benzyl benzoate market during the review years. However, the volatile prices of raw materials coupled with the rising use of substitutes are a major down side to the market during the given period.

The global Benzyl Benzoate market has been segmented on the basis of product type, application and region. Among the various applications, the textile segment is projected to be the dominant segment in 2017 and is projected to follow the same trend during the forecast period. Benzyl Benzoate is extensively used in the textile industry as dye carrier, levelling agents and as healant. According to Insights and Reports analysis, the textile segment is projected to acquire of market share of over 25% during the forecast period. Moreover, the plasticizer segment is anticipated to be the fastest growing with an expanding CAGR during the review period.

 On the basis of product type, the industrial grade was the largest segment in 2017 and is expected to generate substantial gains during the forecast period. According to insight and report’s analysis the industrial grade segment will acquire a market share of over 45% during the forecast period.

Regional Analysis

On the regions the global Benzyl Benzoate market is segmented into; North America, Europe, Asia Pacific, Latin America, Middle East and Africa. According to Insights and Reports, Asia Pacific was the the fastest growing Benzyl Benzoate market in 2017 and is expected to show the same trend during the forecast period. The growing industrialization in the region coupled with the rising population especially in China, India and Japan has propelled the need for pharmaceuticals in turn adding to the growth of the benzyl benzoate market in the region. The European and North American market is projected to be another dominant benzyl benzoate market throughout the assessment period.

Competitive Landscape

The Benzyl Benzoate market remains highly competitive with several players emphasizing on product innovation, new launches, merger and acquisitions and geographic expansions to increase market share. Some of the proficient players operating in the global Benzyl Benzoate market include LANXESS, Emerald Kalama Chemical, Hunan Hongrun Chemical Technology Co. Ltd, Hubei Greenhome Fine Chemical CO.,LTD, Liaoning Huayi Chemical Industry& Commerce Co., Ltd, and Tianjin Dongda Chemical Group Company among others.

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  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
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