2-Phenylethanol Market Size By Product (Synthetic, Natural), By Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Co

2-Phenylethanol Market Size By Product (Synthetic, Natural), By Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The 2-phenylethanol market is slated to grow at a robust pace through 2028 owing to prevalent adoption of the product in numerous industries across the globe.

2-Phenylethanol or phenethyl alcohol is an alcohol that has a pleasant floral odor found extensively in nature in Gardenia jasminoides, Daphne papyracea, and other organisms. It is widely used in various essential oils, such as carnation, rose, hyacinth, ylang-ylang, orange blossom, Aleppo pine, neroli, geranium, and champaca. It also has a honey-like aroma, which is a major aroma ingredient in Muscat wine. Additionally, it is used as an additive in cigarettes and as a preservative in soaps since it can remain stable in basic conditions.

Moreover, 2-phenylethanol is an antiseptic, antimicrobial, and disinfectant that is utilized in pharmaceuticals and perfumes as an aromatic essence as well as preservative. Thus, prominent application of the product in the pharmaceuticals and cosmetics & personal care industries has positively influenced business growth in recent years. Additionally, 2-phenylethanol is used in perfumery and flavors, in particular, when the smell of rose is desired in the product. As a result, mounting consumer demand for rose aroma in various cosmetics & personal care products has been favorable for the expansion of the 2-phenylethanol market.

Furthermore, in the automotive sector, there is increased focus on identifying and developing bio-derived fuel additives that could be ideal for advanced spark-ignition engines. 2-Phenylethanol is a vital candidate on account of its several properties, including high research octane number, octane sensitivity, and energy density as well as low vapor pressure. This has prompted significant research efforts for exploring the scope of application of 2-phenylethanol in the automotive space, which has played a crucial role in the growth of the 2-phenylethanol industry in key regions worldwide.

For comprehensive assessment, the 2-phenylethanol market has been segregated in terms of product, application, and region. Based on application, the market has been categorized further into laundry & home care, cosmetics & personal care, pharmaceuticals, food & beverages, and others. The others application segment holds a considerable share in the market and is expected to grow at a CAGR of more than 4.6% over the analysis time period.

From the regional perspective, the Latin America 2-phenylethanol market accounts for a notable portion of the overall industry revenue and is slated to reach a valuation of over USD 21.77 million by the end of 2028. Meanwhile, the Middle East and Africa 2-phenylethanol industry is primed to surpass USD 19.64 million in revenue by 2028 growing at a CAGR of around 4.5% throughout the forecast period.