Coniferyl Alcohol Global Market Report 2024

The coniferyl alcohol market size has grown strongly in recent years. It will grow from $1.16 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historic period can be attributed to several factors, including the adoption of lignin-based additives in adhesives and coatings, a rising interest in lignin as a precursor for carbon materials, increased demand for sustainable and eco-friendly products, and investments in lignin valorization projects.

The coniferyl alcohol market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to the increased adoption of lignin-based products across various industries, a growing interest in lignin valorization and biorefineries, government policies that promote the use of bio-based materials, and the integration of lignin-derived products in sectors such as textiles and paper. Key trends expected in this period include advancements in research on lignin-derived compounds, innovations in lignin depolymerization technologies, the development of new applications for lignin-based chemicals, technological enhancements in lignin extraction processes, and increased investment in research and development for lignin-derived chemicals.

The growth of the coniferyl alcohol market is driven by consumers' increasing focus on health and wellness. This emphasis on well-being encompasses lifestyle choices that promote vitality and overall quality of life, spurred by factors such as heightened awareness of preventive healthcare, the preference for natural and organic products, and the influence of digital health technologies. Coniferyl alcohol, known for its potential natural health benefits such as supporting antioxidant-rich diets and contributing to overall wellness, is gaining traction in the market. For example, a survey by the International Food Information Council in May 2022 noted a significant increase in Americans adhering to specific diets or eating patterns, rising from 39% in 2021 to 52% in 2022.

Leading companies in the coniferyl alcohol market are forging strategic partnerships to drive new developments and expand their product offerings and market presence. Strategic partnerships involve formal agreements between organizations to collaborate on specific business objectives while maintaining their independence. For instance, Qmx Laboratories partnered with Toronto Research Chemicals Inc. in September 2022 to launch a range of biochemicals, fluorescent reagents, and other products for cancer research and therapeutic targets. This collaboration enhances product diversity and research capabilities in the coniferyl alcohol market.

In April 2021, Azelis Group acquired Spectrum Chemicals and Nortons Exim in India, aiming to strengthen its presence in key regions and capitalize on emerging markets such as agrochemicals and road markings. Spectrum Chemicals provides calcium gluconate anhydrous powder, while Nortons Exim distributes cleaning chemicals for commercial and industrial use.

Major companies operating in the coniferyl alcohol market are Thermo Fisher Scientific Inc., Merck & Co. Inc., FUJIFILM Corporation, Avantor, Lenzing AG, SRI International, Cayman Chemical Company, Biosynth AG, Santa Cruz Biotechnology Inc., LEAP CHEM CO. LTD., Manchester Organics Ltd., TargetMol Chemicals Inc., Finetech Industry Limited, Lifeasible, DC Chemicals, Biorbyt Ltd, The Good Scents Company, Aladdin Scientific, Shanghai Acmec Biochemical Technology Co. Ltd., Molcore.

Asia-Pacific was the largest region in the coniferyl alcohol market in 2023. The regions covered in the coniferyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the coniferyl alcohol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Coniferyl alcohol is a natural organic compound classified as a phenylpropanoid. It occurs in various plant species and plays a crucial role as a precursor for lignin biosynthesis, an essential component of plant cell walls. Additionally, it contributes to plant defense mechanisms against pathogens and environmental stressors.

The biosynthesis pathway of coniferyl alcohol involves compounds such as eugenol, stilbenoids, and coumarin. Eugenol is another natural compound found in several plants, particularly cloves, and is widely utilized in flavoring agents, fragrances, and traditional medicine. These compounds find applications in industries such as fragrance and flavor, polymer materials, and others, serving end users such as food and beverage, cosmetics, personal care, pharmaceuticals, and more.

The coniferyl alcohol market research report is one of a series of new reports that provides coniferyl alcohol market statistics, including the coniferyl alcohol industry global market size, regional shares, competitors with the coniferyl alcohol market share, detailed coniferyl alcohol market segments, market trends, and opportunities, and any further data you may need to thrive in the coniferyl alcohol industry. These coniferyl alcohol market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The coniferyl alcohol market consists of sales of antioxidants, and polymer additives. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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