Global P-Hydroxybenzoates (PHB) Market Growth during the Forecast Period, 2018-2

Posted by Arslan on January 18th, 2019

P-hydroxybenzoates are white crystalline solids that are to some extent soluble in water.  P-hydroxybenzoates are generally found in wine, vanilla, cloudy olive oil, and edible mushrooms. P-hydroxybenzoates are primarily used to produce an ester known as parabens. The ester produced by p-hydroxybenzoates is used in a wide range of industries, including the food, personal care & cosmetics, and pharmaceutical. The ester produced by p-hydroxybenzoates, i.e. parabens, is found in four key forms including methylparabens, ethylparabens, propylparabens, and butylparabens. They are highly preferred as effective preservatives owing to their fungicidal and bactericidal properties. Propyl parabens is one in particular excluded from the group of parabens used in food preservation. However, the constant use of p-hydroxybenzoates for preservation is expected to drive the growth of the P-Hydroxybenzoates (PHB) Market during the forecast period.

P-Hydroxybenzoates Market: Dynamics

P-hydroxybenzoates are derived from benzoic acid, which is widely used in the agro food industry as a preservative and antioxidant. The global p-hydroxybenzoates market is expected to grow on the back of increasing demand for efficient food preservatives. The growing demand for p-hydroxybenzoates parabens to be used as germicide and antiseptic in cosmetics, and as preservatives in medicine, cosmetics, and foods is expected to be the key factor driving the growth of the global p-hydroxybenzoates market. However, stringent rules and regulations regarding the use of p-hydroxybenzoates and its parabens used in food preservation is expected to hamper the growth of the global p-hydroxybenzoates market during the forecast period. A risk assessment was carried out on the effects of the parabens of p-hydroxybenzoates used in food preservation, and it was concluded that propyl parabens would be excluded from the list due to research that demonstrated their harmful effects on reproductive abilities of rats. However, increasing demand for preservatives in food and cosmetics is expected to fuels the growth of global p-hydroxybenzoates market during the forecast period.

APEJ is expected be the dominant regional market for p-hydroxybenzoates in terms of production and consumption during the forecast period. China and India are the prominent markets in APEJ, owing to the high demand for p-hydroxybenzoates as a preservative for food, cosmetics & personal care, and pharmaceutical products. North America and Western Europe are expected to be large shareholders in the global p-hydroxybenzoates market during the forecast period. The p-Hydroxybenzoates market in the MEA currently accounts a stagnant growth, but is expected to have a positive outlook during the forecast period. The p-hydroxybenzoates market might face certain turbulences during the forecast period. The European Food Safety Authority (EFSA) recently published an advisory on the use of p-hydroxybenzoates as a food preservative.  Instead of completely ruling out the use of propyl parabens, the EFSA has allowed restricted use of the p-hydroxybenzoates paraben.

P- Hydroxybenzoates Market: Key Players

Examples of some of the key players operating in the global p-hydroxybenzoates market are:  ChemTik, Amadis Chemical Co., Ltd., Beijing LYS Chemicals Co., Ltd., HEJIANG SHENGXIAO CHEMICALS CO., LTD., Charkit Chemical Company LLC., Acme-Hardesty Co., TCI Chemicals (India) Pvt. Ltd., Merck KGaA, Penta Manufacturing Company

Brief Approach to Research:

Our analysis will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. Statistics and data are collected at a regional level, consolidated, and synthesized at a global level to estimate overall market sizes.

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