The global Benzenoid chemicals market is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025. Benzenoids are a group of aromatic hydrocarbons containing at least one benzene ring their chemical structure and these compounds collectively come under the group of organic chemicals.This group of compounds is distinctively known for their aromatic nature, high stability and resonance structures.
These chemicals majorly include compounds such as benzyl alcohol, benzyl acetate, benzyl chloride, benzyl salicylate, benzaldehyde, and cinnamyl.Conference, rising demand for petrochemicals in major end-use industries coupled with favorable operating conditions, primarily in the Middle East and Asia Pacific, is expected to drive the global market for petrochemicals from 2013 to 2030.
These compounds are largely used in the all the end use industries that require flavor or fragrance in their end products.
By type, the benzyl alcohol subtype is projected to account for the largest market share in the benzenoid chemicals market during the forecast period. Benzyl alcohol occurs widely in essential oils both as the free alcohol, and, more importantly from a fragrance standpoint, in the form of various esters.The largest proportion of benzyl alcohol is for use in the photographic and textile industries and has a Generally Recognized As Safe (GRAS) status indicated by the Flavor and Extract Manufacturers’ Association for use in flavors and by the Council of Europe.
It is also primarily used in cosmetics as a fragrance component, preservative, solvent, and viscosity-decreasing agent.
By application, the soaps and detergents subtype is projected to be the fastest growing segment in the benzenoid chemicals market during the forecast period. Synthetically produced fragrance oils are the most popular choices for scented liquid soaps.When compared to other fragrance options like essential oils, synthetic fragrances are inexpensive and relatively easy to produce.
That makes them an economical and attractive choice for many companies. Most food-like fragrances (i.e. butter, coffee, chocolate) or fruity scents (i.e. apple, blackberry, cucumber, mango) are synthesized fragrance oils.
Break-up of Primaries • By Value Chain: Supply Side- 57%, Demand Side- 43% • By Designation: CXO’s - 29%, Managers - 21%, and Executives – 50% • By Region: North America – 34%, Europe – 37%, Asia Pacific – 16%, Rest of the World (RoW) * – 13%. * RoW includes South America, Africa, and Middle East.
Leading players profiled in this report • BASF (Germany) • Firmenich (Switzerland) • Emerald Kalama Chemical (US) • International Flavors & Fragrances, Inc. (US) • Eternis Fine Chemicals (India) • Symrise (France) • Tennants Fine Chemicals Ltd. (England) • Jayshree Aromatics Pvt. Ltd. (India) • Valtris Specialty Chemicals (US) • Axxence Aromatic GmbH (US) • Kadillac Chemicals Pvt. Ltd. ( India) • Solvay (Belgium) • Indukern F&F Ingredients (Spain) • Lanxess (Germany) • Sigma-Aldrich (US)
Research Coverage This report segments the benzenoid chemicals market on the basis of type, application and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the benzenoid chemicals market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
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