Changing food habits and the busy lifestyles of consumers is increasing the demand for processed food and beverages and ready-to-eat meals. Benzyl alcohol is widely used as a taste enhancer in the food and beverage industry, especially in processed and ready-to-eat food products. The use of benzyl alcohol also increases the shelf life of food products. Thus, with the increasing demand for processed and ready-to-eat foods, the market growth is expected to accelerate during the forecast period.
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As per Technavio, the increasing demand from the paints and coatings industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Benzyl Alcohol Market: Increasing demand from the paints and coatings industry
Benzyl alcohol is widely used in the paints and coatings industry for painting and coating vehicle surfaces. Over the years, the automobiles industry has witnessed significant growth in terms of sales owing to rapid urbanization, rising disposable incomes, and improving economic conditions. The growth of the automobile industry has subsequently increased the demand for paints and coatings for vehicle surfaces. This is directly influencing the demand for benzyl alcohol, thereby driving the market growth.
“Growing environmental concerns and emphasis on reducing the use of toxic solvents and the shifting of manufacturing units to developing countries will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Benzyl Alcohol Market: Segmentation Analysis
This market research report segments the benzyl alcohol market by end-user (paints and coatings, personal care, pharmaceutical, and others) and geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the benzyl alcohol market in 2021, followed by Europe, North America, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the strong growth of the pharmaceutical industry in the region.
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Global Isobutyl Benzene Market – Global isobutyl benzene market is segmented by end-user (pharmaceuticals and others) and geography (APAC, Europe, North America, MEA, and South America).
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Report: www.technavio.com/report/benzyl-alcohol-market-industry-analysis
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