Phenylethyl Market Segmentation:
Type Segment Analysis
The phenylethyl alcohol segment is poised to garner largest revenue share, accounting for 52% of the global phenylethyl market. Increasing demand for Phenyl ethyl alcohol in the pharmaceutical segment. Around 10,000 tonnes of 2 PE per year are produced in the world. Further, phenylethyl alcohol is used in cosmetics and personal care products. For instance, it is used as a main component in the rose oils that are obtained from rose blossom as it has a mild rose odor. All these cumulatively propel the market’s growth.
Application Segment Analysis
The pharmaceutical segment in the phenylethyl market is anticipated to hold the dominant revenue share during the forecast period. Phenylethyl’s alcohol form is used as an excipient in the pharmaceutical industry, which is then used as a carrier or diluent for active ingredients. Further, phenylethyl is used as a preservative and antimicrobial agent to prevent the growth of microorganisms in the products and is responsible for the segment’s growth. Additionally, it is also used in the synthesis of various drugs and APIs. The increasing demand for pharmaceuticals globally, driven by an aging population and the growing prevalence of chronic diseases, is expected to drive the demand for phenyl ethyl alcohol in the pharmaceutical segment.
Our in-depth analysis of the global phenylethyl market includes the following segments:
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