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.
Propylene Glycol is a useful componet with many positive effects. It’s a very good moisturizer. It helps to deliver ingredients into deeper layers of the skin. It creates a protective layer on the skin preventing water loss. The component is researched very well and doesn’t have notable side effects. It’s used even for making food.
Glyceryl Stearate SE is a nice moisturizing ingredient. It hydrates the upper layers of the skin and fills small wrinkles. In haircare products, it's used for making hair softer.
Cetearyl Alcohol is used mostly for formulation purposes. It’s a very good emulsifier and emulsion stabilizer. It helps the ingredients mix better and it makes the product spread on your skin evenly. It also makes the product thicker. It doesn’t belong to harmful alcohols and it will not dry your skin.