Benzyl Alcohol Global Market Report 2024

The benzyl alcohol market size has grown strongly in recent years. It will grow from $3.17 billion in 2023 to $3.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be credited to several factors, including a prolonged shelf life of food items, heightened usage of benzyl alcohol in epoxy resin synthesis, escalating demand from various end-use sectors, expansion in the construction sector, and a heightened emphasis on natural products.

The benzyl alcohol market size is expected to see strong growth in the next few years. It will grow to $4.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth is anticipated due to burgeoning demand in the pharmaceutical realm, increased need for cosmetics and personal care items, rising demand for paints and coatings, broadening customer base for benzyl alcohol, and heightened demand from the food and beverage domain. Notable trends expected in the forecast period encompass the development of eco-friendly products, technological advancements, product innovations, advancements in research and diagnostics, incorporation into food packaging, inclusion in personal care merchandise, formulation of bio-based alternatives, and technological solutions aimed at stability enhancement.

The growing demand for cosmetics and personal care products is anticipated to fuel the expansion of the benzyl alcohol market in the coming years. Cosmetics and personal care products encompass substances or preparations designed for application to the human body, including skin, hair, nails, lips, and the oral cavity. This rise in demand is attributed to factors such as the increasing emphasis on self-care, influencer marketing, advancements in formulation, and the preference for natural ingredients. Benzyl alcohol plays a vital role in personal care and cosmetics, ensuring safety, stability, and efficacy, while also providing skin conditioning and fragrance-enhancing properties that enhance the user experience. For example, as reported by the Bureau of Labor Statistics in September 2023, personal care products and services experienced a 12.3% increase in 2022 compared to 19.3% in 2021. Therefore, the growing demand for cosmetics and personal care products is a key driver of the benzyl alcohol market's growth.

The rising demand for processed food is poised to drive the expansion of the benzyl alcohol market in the future. Processed food refers to any food altered from its original form through various methods to improve its shelf life, flavor, convenience, or nutritional value. The demand for processed food is driven by evolving lifestyles, extended shelf life, advancements in food processing technologies, and convenient accessibility. Benzyl alcohol plays a crucial role in ensuring the quality, safety, and stability of processed foods, providing manufacturers with an effective means of preserving product freshness, flavor, and shelf life, while also ensuring compliance with food safety standards and meeting consumer expectations. For instance, according to the United States Department of Agriculture in 2023, US processed food exports amounted to $38.17 billion in total value, up from $34.19 billion in 2021. Therefore, the increasing demand for processed food is a significant driver of the benzyl alcohol market's growth.

In August 2021, Lanxess AG, a Germany-based chemical company, acquired Emerald Kalama Chemical for an undisclosed sum. This strategic acquisition aims to expand Lanxess's portfolio of specialty chemicals for industrial applications, particularly in the plastics, paints, coatings, and adhesives industries. Emerald Kalama Chemical LLC, based in the US, specializes in producing high-quality chemical products for both consumer and industrial markets.

Major companies operating in the benzyl alcohol market are The Dow Chemical Company, Thermo Fisher Scientific Inc., Honeywell Research Chemicals, Merck KGaA, Evonik Industries AG, LANXESS, Avantor Inc., Elan Chemical, Croda International plc, Ashland, Valtris Specialty Chemicals, Ineos Group Limited, Liaoning Kelong Fine Chemical Co. Ltd., Pharmco by Greenfield Global, Connect Chemicals, Santa Cruz Biotechnology Inc., Wuhan Youji Industries Co. Ltd., Finar Limited, Tokyo Chemical Industry Co. Ltd., Emerald Performance Materials, Richman Chemical Inc., Aims Oxygen Pvt Ltd., Shimmer Chemicals Pvt. Ltd., Wuhan Biet Co. Ltd., Heranba Industries Ltd.

North America was the largest region in the benzyl alcohol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the benzyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Benzyl alcohol, a colorless liquid possessing a gentle, pleasing scent, finds wide application as a solvent, preservative, and fragrance component. It serves the purpose of preserving products for extended shelf life, dissolving other substances as a solvent, and enhancing product appeal as a fragrance additive.

Benzyl alcohol yields several main product categories, including industrial, food-grade, pharmaceutical-grade, and others. Industrial-grade benzyl alcohol, notably refined, serves as a solvent in diverse industrial contexts. Its applications span dielectric solvents, bacteriostatic preservatives, cleaning agents, epoxy resins, synthetic solvents, and various other uses, catering to a range of end-users such as the food and beverage industry, paints and coatings, pharmaceuticals, and more.

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

The benzyl alcohol market consists of sales of technical grade benzyl alcohol, fragrance grade benzyl alcohol, laboratory grade benzyl alcohol, cosmetic grade benzyl alcohol, and electronic grade benzyl alcohol. 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.


This product will be delivered within 3-5 business days.