Benzyl Alcohol Sales Set to Total US$ 69.4 Million by 2034, Spurred by Extensive Application in Pharmaceutical and Food & Beverages Industries | Future Market Insights, Inc.
The United States, Benzyl Alcohol Market is experiencing a Surge in Demand, Anticipated to Reach US$ 22.4 Million by 2034 With a Projected 4.0% CAGR, Fueled by Growing Demand in Pharmaceuticals Industry.
NEWARK, Del, March 22, 2024 (GLOBE NEWSWIRE) -- According to the latest analysis, the global *benzyl alcohol market* is estimated to be valued at *US$ 38.3 million* in 2024 and will likely total *US$ 69.4 million* by 2034. Global benzyl alcohol demand is anticipated to rise at a CAGR of *6.0%* throughout the forecast period.The benzyl alcohol industry is set to experience steady growth during the forecast period, driven by several key factors. These include widening applications of benzyl alcohol across diverse sectors, including food & beverage, pharmaceutical, paints, and personal care.
Benzyl alcohol finds applications across various industries. One of the primary drivers of its growth is its widespread use as a solvent in the formulation of numerous pharmaceutical products.
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Benzyl alcohol is increasingly used in several pharmaceutical formulations. This is due to its effectiveness as a solvent for a wide range of substances, low toxicity, and favorable safety profile.
The versatility of benzyl alcohol extends to its use as a precursor in the synthesis of various chemicals and polymers. It serves as a building block in producing numerous derivatives used in applications ranging from paints and coatings to adhesives and plastics.
The expanding industrial sector, particularly in emerging economies, is set to further fuel demand for benzyl alcohol as a key raw material in manufacturing processes. Similarly, the growing adoption of benzyl alcohol as a preservative in food products, cosmetics, and personal care items to extend their shelf life will likely fuel sales.
*“Extensive applications of benzyl alcohol as a preservative and solvent across diverse industries, including food & beverage and paints & coatings, is expected to boost sales growth during the next ten years.”* – says Nandini Roy Choudhury, Client Partner at Future Market Insights
*Key Takeaways from the Report:*
· The global *benzyl alcohol ma*rket value is expected to total *US$ 69.4 million *by 2034.
· Based on application, the food & beverage segment is set to rise steadily through 2034.
· China is poised to record a CAGR of *6.7%* from 2024 to 2034.
· The United States market size is set to reach *US$ 22.4 million* in 2034.
· Benzyl alcohol demand in India is anticipated to rise at *8.2% CAGR *through 2034.*Gain Immediate Access to Detailed Market Insights Purchase Now: *https://www.futuremarketinsights.com/checkout/19218
*Competitive Landscape*
Key players are focusing on increasing their production capacities to meet growing demand for the industrial sector. They are forming partnerships and strategic alliances with end-use industries to boost their revenue.
*Key Companies Profiled*
· Lanxess AG
· Elan Chemical Company Inc.
· Hubei Greenhome Fine Chemical Co., Ltd.
· Pharmco-AAPER
· Wuhan Youji Industries Co., Ltd.
· Synerzine Inc.
· Merck KGaA
· Emerald Performance Materials
· Avantor, Inc.
· Fine Chemicals
· Ineos*Recent Development:*
· In 2023, *LANXESS* doubled its high-purity benzyl alcohol production at its site in Kalama, Wash., to support the growth of its customer base in North America.*Get More Valuable Insights*
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global benzyl alcohol market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the benzyl alcohol industry based on grade (industrial grade, food grade, and pharmaceuticals grade), end-use (food & beverages, paints & coatings, pharmaceuticals, and others), application (cleaning agent, synthetic solvent, epoxy resins, bacteriostatic preservatives, dielectric solvent, and others), and region.
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*Benzyl Alcohol Market Segmentation*
*By Grade:*
· Industrial Grade
· Food Grade
· Pharmaceuticals Grade
· Others
*By End-use:*
· Food & Beverages
· Paints & Coating
· Pharmaceuticals
· Other
*By Application:*
· Cleaning Agent
· Synthetic Solvent
· Epoxy Resins
· Bacteriostatic Preservatives
· Dielectric Solvent
· Other
*By Application:*
· North America
· Latin America
· Europe
· South Asia
· East Asia
· Middle East & Africa
· Oceania*Authored by:*
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
*Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:*
The global *food-grade alcohol market* is to be worth US$ 4.16 billion in 2023 and US$ 6.16 billion by 2033, developing at a CAGR of 4.0% during the forecast period.
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The *sugar alcohol market* holds the potential to surpass a valuation of US$ 4.59 billion by 2033.
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A 6.4% compound annual growth rate (CAGR) is projected for the global *naturally derived fatty alcohol market* from 2022 to 2032, with 2022 revenues of US$ 2821 Million and 2032 revenues of US$ 5250.82 Million.
The global* **low-alcohol beverages market* estimated at US$ 1.41 billion in the year 2023, is projected to reach a revised size of US$ 2.36 billion by 2033.
The *canned alcoholic beverages market* size is estimated to be US$ 20,411.6 million in 2024. The market is estimated to cross a valuation of US$ 92,401.1 million by 2034.
The *pre-mixed/RTD alcoholic drink market* is estimated to be valued at US$ 35,321.40 million in 2024. The pace of progress for the market from 2024 to 2034 is expected to be normal, with a CAGR of 4.8%.
The global *wine market* is projected to attain a valuation of US$ 2971.13 billion by 2033. Wine producers can expect a CAGR of 5.7% through 2023.
*About Future Market Insights (FMI)*
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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