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Benzyl alcohol is a colorless liquid with a faint sweet scent. Due to its polarization, and low viscosity, it is a reliable solvent. Benzoic alcohol is obtained by partial oxidation of toluene and the cycle is facilitated by manganese naphthenate. It can also be obtained from benzyl acetic acid by methanol hydrolysis. This has a fair water solubility and is blended with alcohol and diethyl ether. Benzyl alcohol is used as a solvent for the manufacture of inks, paints, epoxy resins, and paint strippers in various sectors that have fuelled demand in this market. It also acts as density stimulants used on paintwork.
The pharmaceutical as well as personal care sectors have also demonstrated a high appetite for benzyl alcohol. There is an increased application in the pharmaceutical sectors due to an rising geriatric population and the growing occurrence of chronic ailments which would concurrently support the growth of benzyl alcohol products, thereby driving market growth. However, the toxiciy benzyl alcohol and the increasing environmental issues concerning processing and disposal of such goods are anticipated to limit the market growth.
Key Market Driver -
Strong growth pharmaceutical and person care sector drives the market.
Key Market Restraint -
Toxicity of benzyl alcohol coupled with environmental concerns restrict the market growth
Based on product type, the market for global industrial benzyl alcohol is further segmented into liquid, powder, solid, and others. Based on application, the market for global industrial benzyl alcohol is further segmented into соаtіng ѕоlvеnt, ѕtаbіlіzеr, rеѕіn ѕоlvеnt, меdісіnе рrеѕеrvаtіvеѕ and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global industrial benzyl alcohol market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the global industrial benzyl alcohol market includes Emerald Performance Materials LLC, Cargill, Raizen Energia, Green Plains Inc, Cristalco, MGP Ingredients, The Andersons Inc, Sigma Aldrich, Grain Processing Corporation, Greenfield Specialty Alcohols, Flint Hills Resources and others.
In terms of Geography, the global industrial benzyl alcoholmarket has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is the world's leading commercial benzyl alcohol market. The excess supply for benzyl alcohol in pharmaceutical and cosmetic companies is considered to be a significant thing that influences the industry in the region. North America is seeing a major rise in the industry. The growth of the North American industry can be credited with an increased demand for benzyl alcohol from coatings industry, pharmaceuticals and personal care products. Europe holds a significant share in the market due to the increase in demand from pharmaceutical industries. Middle East and Africa are expected to see steady growth due to increased applications in multiple end-user sectors. Latin America is experiencing fairly slow growth due to the stringent government regulations.
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