Water is a great solvent. It’s neutral and doesn’t provide any strong positive or negative effects. It just helps components to mix better and to transport active components.
Butylene Glycol is a very popular synthetic alcohol. It helps the product to absorb deeper and faster. It is also a solvent for other ingredients. As for the skin benefits, it helps to attract water and helps to make the skin softer.
Unlike many other “Glycols”, it is not harmful and that's why it is used in many products. It was approved by US FDA and US EPA for usage.
Polysorbate 20 doesn’t have any notable skin benefits but is used in cosmetics quite often. Manufacturers use it for formulation purposes. It improves the scent, texture, and feel of the product.
Phenoxyethanol is one of the most popular preservatives. It kills bacteria and makes the product live longer. Manufacturers like this ingredient because it can dissolve in any liquid, even in oils.
Another purpose of this component is the fixation of aromas in perfumery. Phenoxyethanol is also used as a strong antiseptic and a good antibacterial agent. It is widely used in dermatological cosmetics alongside natural antiseptics such as chamomile, sage, and calendula.
Like many other preservatives, Phenoxyethanol is a strong chemical. European Regulation (EC) No 1223/2009 allows this component in cosmetics at a maximum concentration of 1%. Clinical studies showed that the component doesn’t irritate the skin and doesn’t make it sensitive. According to the CLP Regulation (EC) No 1272/2008 it’s not toxic.