Anisole Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Anisole Market: Snapshot
Anisole is described as a precursor to perfumes, insect pheromones, and pharmaceuticals. Synthetic anethole is formulated from anisole. Rapidly expanding cosmetics, pharmaceuticals, and food and beverages industry worldwide are majorly fueling demand in the global anisole market. Along with this, increasing spending of women on hair and skin care products and rapidly emerging male grooming industry globally are also driving the global anisole market. Besides these, rapid economic development in the developing regions has also provided a boost in the global anisole market.
Cosmetics segment contributes up to the one third of total share in the global anisole market. However, in pharmaceutical industry, the anisole serves as a key precursor to produce several pharma compounds. This flavoring agent is widely utilized for producing guaiacol, which is basically a cough medicine, local anesthetic as well as antiseptic. All such USPs are also providing impetus to the growth of the global anisole market. Additionally, anisole is used in the manufacturing of perfumes and other types of fragrances products, which in turn is also contributing demand in the global anisole market.
With a necessary involvement of phenolic components during the synthesis of product, methoxybenzene aka anisole market growth will be hugely subjected to crude trends. Although, fluctuating crude oil prices will lead to the moderate growth pf the overall anisole market. However, the purity of anisole primarily depend upon its several manufacturing processes which comprises of reaction between sulphur hydroxide and dimethyl sulfate. Growing customers’ preferences for premium product usage is also fueling growth in the global anisole market.
Global Anisole Market: Overview
The global anisole market is mainly being filliped by demand from the cosmetic industry because of their artificial perfume. Anisole is basically described as flavoring agent and a precursor to perfumes, pharmaceuticals, and insect pheromones. Synthetic anethole is primarily formulated from anisole. The players in the global anisole market are seen focusing on improving the manufacturing processes and technologies so as to increase their margins.
According to the U.S. Department of Commerce’s report, Asian countries have played a pivotal role in propping up growth in the global anisole market. This is because of the increasing spends on cosmetics by the people in the last five years. This, in turn, is because of the swift growth of the organized retail sector in response to bettering economic environment and rapid urbanization.
Global Anisole Market: Drivers and Restraints
At the forefront of driving the global anisole market is the rising spends on female skin and hair care products and the emerging male grooming industry. Economic development worldwide, has helped to up spending capacity of people which in turn has provided a fillip to the aforementioned industries. Apart from the expanding cosmetics industry, the food and beverages and pharmaceuticals industries too are pushing up demand in the global anisole market. Regulations supporting the use of anisole for producing pharmaceutical products for both external and internal use has served to promote demand for the product and will continue doing so going forward.
Another reason why the global anisole market is growing is because of the usage of the product in making dyes of various kinds.
A noticeable trend in the global anisole market is the forward integration by raw material producers. They are seen merging with final end product manufacturers owing to the high demand for anisole and uncertain availability of raw materials. For example, Solvay, a leading player has been producing both anisole and phenol to satisfy demand of several end-user industries.
Global Anisole Market: Trends and Opportunities
The global anisole market is witnessing maximum demand for products having purity greater than 99.5%. In the near term too, the demand growth of the product is expected to remain high. The purity of anisole is dependent on its production procedure. It is a result of the reaction of sulphur hydroxide and phenol with dimethyl sulfate. In fact, most of the prominent players in the global anisole market such as Oakwood Products Inc. and Merck Inc. are producing methoxybenzene having purity greater than 99.5%.
Currently, the pharmaceuticals and food and beverages sectors are driving most of the demand in the global anisole market.
Global Anisole Market: Regional Analysis
From a geographical standpoint, Europe at present holds a significant share in the global anisole market. High demand for cosmetic products in developed nations of Italy, Germany, the U.K., and France is mainly powering the market in the region. With respect to growth pace, on the other hand, the Asia Pacific anisole market is predicted to surpass others. The speedy economic development in populous nations of China and India and their large population is providing a major impetus to the cosmetics, food and beverage, and pharmaceutical industry. This, in turn, is benefitting the anisole market.
Global Anisole Market: Competitive Landscape
The global anisole market is fragmented owing to the presence of several manufacturers. Prominent among them are Evonik, Surya Life Sciences Ltd., Atul Ltd., Westman Chemicals Pvt. Ltd., Emmennar Chem, Sigma-Aldrich, and Benzo Chem Industries.
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