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2,4-Dichlorobenzyl Alcohol Market - Forecast(2023 - 2028)
2,4-Dichlorobenzyl Alcohol Market Overview
2,4-Dichlorobenzyl Alcohol
Market size is forecast to reach US$40.3 million by 2026,
and is growing at a CAGR of 4.3% during 2021-2026. Dichlorobenzyl Alcohol is a mild antiseptic with a broad
spectrum for bacterial and virus associated with mouth and throat infections.
Dichlorobenzyl Alcohol is considered as a Preservative, Insecticide and active
ingredient found in several marketed OTC (Over the Counter) products by Health
Canada which has categorized this agent as an anatomical therapeutic
chemical. Dichlorobenzyl alcohol is
categorized by the FDA (Food and Drug Administration) in the inactive ingredient
for approved drug products as a chemical Intermediate. It is used in Personal
care products, including cosmetics, shampoos, perfumes, soaps, and others. Thus
the various uses in Pharmaceutical and Cosmetics products portoflio is going to grow the
2,4-Dichlorobenzyl Alcohol Market in the forecast period.
COVID-19 Impact
Due to the
COVID-19 most of the manufacturing plants were shut down, which declined the
production of raw materials of 2,4-Dichlorobenzyl Alcohol. Also, due to
disrupted financial flows, and rising absenteeism among production line staff,
OEMs have been forced to function at zero or partial capacity, resulting in
lower demand and consumption consumer goods. However, due to
the global health crisis, the demand of pharmaceutical products such as
Anticeptic and other drugs increased which helped the 2,4-Dichlorobenzyl Alcohol market sustain during the pandemic. The manufacturing companies
gradually started operating with minimum workforce and supply chain is
gradually returning to normalcy. The market will gradually gain momentum with consistent
rise of demand of the Pharmaceutical products in the forecast period.
Report Coverage
The report: “2,4-Dichlorobenzyl Alcohol Market – Forecast(2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of 2,4-Dichlorobenzyl Alcohol Market.
Key Takeaways
- Asia-Pacific dominates the 2,4-Dichlorobenzyl Alcohol market, owing to the increasing Pharmaceutical and cosmetics industry in the region.
- China's pharmaceutical market will be an increasingly important source of growth for foreign drug companies through 2023, according to a report from credit rating agency Moody's.
- According to Invest India, India is a prominent and rapidly growing presence in the global pharmaceuticals industry. It is the largest provider of generic medicines globally, occupying a 20% share in global supply by volume, and also supplies 62% of global demand for vaccines.
- India has the second-highest number of US FDA approved plants outside the US. India is the largest provider of generic drugs globally. Indian medicines are preferred worldwide, thereby rightly making the country the “Pharmacy of the World".
- With a rapidly growing Pharmaceutical Industry in Asian countries and with rising population the demand increases and hence 2,4-Dichlorobenzyl Alcohol market is also projected to grow.
Figure: North America2,4-Dichlorobenzyl Alcohol Revenue, 2020-2026 (US$ Billion)
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2,4-Dichlorobenzyl Alcohol Market Segment Analysis – By Type
Chemical
Intermediate segment held the largest share of 37% in the 2,4-Dichlorobenzyl Alcohol market in 2020. Pharmaceutical intermediates are fine chemicals of
intermediate compounds that are produced in the process of manufacturing Active
Pharmaceutical ingredients (APIs). Intermediates are the by-products of
reactions in the API production process. Each reaction during the production
process may produce several intermediates depending on the analysis, and these
intermediates can serve as precursors to other active pharmaceutical
ingredients. The conversion of intermediates to active ingredients can be
achieved through further refinement processes. Like APIs, intermediates can
also be used in bulk drugs for therapeutic purposes by using 2,4-Dichlorobenzyl Alcohol as a chemical intermediate.
2,4-Dichlorobenzyl Alcohol Market Segment Analysis – By Application
Pharmaceutical segment held the largest share in the 2,4-Dichlorobenzyl Alcohol market in 2020 and is growing at a CAGR of 10.5% during 2021-2026. 2,
4-Dichlorobenzyl Alcohol with a chemical formula C7H6Cl2O is primarily used as
an antiseptic. Dichlorobenzyl Alcohol (DCBA) is an active ingredient in throat
lozenges such as strepsils, gorpils, and lorsept. Commonly a low pH throat
lozenge contains amylmetacresol and dichlorobenzyl alcohol and is considered to
kill various types of viruses. DCBA works as an antimicrobial and finds
application such as preservative, insecticide, chemical intermediate, and
others. Diseases are mainly caused by viruses, bacteria, and germs, which
thrive in unhealthy home environments and unhygienic toilets, latrines, and
kitchens. The application of antiseptic and disinfectant solutions is,
therefore, an essential requirement to maintain home cleanliness. Such
solutions prevent the growth of harmful bacteria and viruses, reducing the
chance of acquiring these diseases. Hence, an increase in awareness about home
cleanliness is anticipated to propel the 2,4-Dichbenzyle Alcohol market for
antiseptics and insecticide over the forecast period.
2,4-Dichlorobenzyl Alcohol Market Segment Analysis – By Geography
North America region held the largest share in the 2,4-Dichbenzyle Alcohol market in 2020 up to 43%, owing to the accelerating Pharmaceutical industries in the region. According to European Federation of Pharmaceutical Industries and Association(EFPIA) 2020, the pharmaceutical market is anticipated to more than double to US$1.3 trillion, with the E7 countries such as Brazil, China, India, Indonesia, Mexico, Russia and Turkey accounting for one-fifth of global pharmaceutical sales. According to IQVIA, Brand spending in developed markets will increase by $298 billion in the 5 years to 2020 driven by new products and price increases primarily in the U.S., China's pharmaceutical market has been constantly growing in recent years, and is estimated to reach US$161.8 billion by 2023, taking a 30% share of the global market. China is the world's second-largest pharmaceutical market followed by India. China's pharmaceutical market has been constantly growing in recent years, and is estimated to reach US$161.8 billion by 2023. The Pharmaceutical industry in India is the 3rd largest in the world in terms of volume and14th largest in terms of value. The Pharmaceutical sector currently contributes to around 1.72% of the country’s GDP. Pharmaceuticals industry is expected to reach US$ 65 billion by 2024, and US$ 120-130 billion by 2030. Due to huge investment in Pharmaceutical industry the 2,4-Dichlorobenzyl Alcohol Market is projected to grow in the forecast period.
2,4-Dichlorobenzyl Alcohol Market Drivers
Increasing use of Personal care Products
According to Cosmetics Europe, It is estimated that the cosmetics and personal care industry brings at least US$32.1 billion in added value to the European economy annually. US$12.1 billion is contributed directly by the manufacture of cosmetic products and US$20 billion indirectly through the supply chain. The growth of the market is driven by rising disposable income, increasing demand for clean and sustainable ingredients, and expanding online and offline distribution channels for personal care products. Consumers are becoming more aware of the importance of hydrating, moisturizing, and anti-aging ingredients in their care products; thus, companies invest in research and development (R&D) and innovate to meet consumers’ requirements. As 2,4-Dichlorobenzyl Alcohol finds its application in Personal care products, the growth of personal care market will drive the 2,4-Dichlorobenzyl Alcohol Market.
Increasing use of Insecticide and Pesticides in Agriculture
2,4-Dichlorobenzyl Alcohol is used to prepare Insecticides which are chemicals that destroy or
inhibit specific developmental stages of insects. They play a vital role
in an Integrated Pest Management plan. According to Researchgate, Approximately, 2 million tons of pesticides are
utilized annually worldwide, where China is the major contributing country,
followed by the USA and Argentina, which is increasing rapidly. However, by the
year 2020, the global pesticide usage has been estimated to increase up to 3.5
million tons. Humans have
attained important benefits from many uses of insecticides, including, increased
yields of crops because of protection
from defoliation and diseases, prevention of much spoilage of stored foods, and
prevention of certain diseases, which conserves health and has saved the lives
of millions of people and domestic animals. Pests destroy an estimated 37% of
the potential yield of plant crops in North America. Some of this
damage can be reduced by the use of insecticides. Hence due to the rising use
of Insecticide, in Agriculture, the 2,4-Dichlorobenzyl Alcohol
market is also projected to grow in the forecast period.
2,4-Dichlorobenzyl Alcohol Market Challenges
Hazards due to Overdose
It is advised to avoid medicines that include 2,4-Dichlorbenzyle alcohol If allergic, and have an intolerance to certain sugars such as fructose, glucose-galactose and sucroseisomaltose. Intolerance would lead from conditions such as deficiency of the enzyme fructose – 1-phosphate aldolase (leading to fructose intolerance), glucose-galactose malabsorption and sucrose-ismoaltase deficiencies. Overdosing of 2,4-Dichlorobenzyl Alcohol can lead to Eye damage, Acute Toxicity, and Aquatic Chronic Problems.
2,4-Dichlorobenzyl Alcohol Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the 2,4-Dichlorobenzyl Alcohol market. 2,4-Dichlorobenzyl Alcohol market top companies include:
- BASF SE
- Reckitt Benckiser Healthcare International Ltd.
- Sigma-Aldrich Co. LLC
- EMKA-Chemie Gmbh & Co. KG
- Santa Cruz Biotechnology, Inc.
- Bioxera Pharma Private Limited
- Benzo Chem Industries Pvt. Ltd., and others.
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