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This ingredient gets a bad rep because it is irritating and drying due to its astringent property. Astringents draw out natural oils in tissue to constrict pores and dry out your skin.

However, alcohol denat. is not all that bad.

Due to its low molecular weight, alcohol denat. tends to evaporate quickly. One study on pig skin found half of applied alcohol evaporated in 10 seconds and less than 3% stayed on skin.

This also helps other ingredients become better absorbed upon application.

Studies are conflicted about whether this ingredient causes skin dehydration. One study from 2005 found adding emollients to propanol-based sanitizer decreased skin dryness and irritation. Another study found irritation only occurs if your skin is already damaged.

Small amounts of alcohol are generally tolerated by oily skin or people who live in humid environments.

The rule of thumb is this ingredient will probably not affect your skin much if it is near the end of an ingredients list.

One thing to note:
People with ALDH2 (aldehyde dehydrogenase 2) deficiency may experience skin irritation from continued alcohol use. About 8% of the world's population have this deficiency.

The Cosmetic Ingredient Review Expert Panel has determined denatured alcohols to be safe for use in concentrations between 0.05% and 12% (depending on which denaturant is used).

Also...

This ingredient has antimicrobial and solvent properties.

The antimicrobial property helps preserve products and increase their shelf life. As a solvent, it helps dissolve other ingredients.

Look for formulas that contain glycerin, hyaluronic acid, or panthenol if you want to offset any drying effect.

This ingredient will trip away your skin's natural oils/lipids that help it lock in moisture. This can worsen dryness, trigger eczema flare-ups, and aggravate rosacea.

Be sure to patch test any product with this ingredient if you have dry or sensitive skin, eczema, or rosacea.

Though this ingredient works well with most skin types, some people with sensitive skin may experience a reaction such as allergic rashes, closed comedones, or itchiness.

Emulsifiers help prevent ingredients from separating. This helps create consistent texture.

The structure of beeswax is mainly long-chain alcohols and the esters of fatty acids.

There are three types of beeswax: yellow, white, and absolute. Yellow is pure beeswax taken from the honeycomb. White beeswax is created by filtering or bleaching yellow beeswax. Absolute beeswax is created by treating beeswax with alcohol. Beeswax used in cosmetics are purified.

Beeswax has been used throughout history and even in prehistoric times. Some common uses for beeswax still used today are making candles, as a waterproofing agent, and polish for leather.

Beeswax's wax esters are derived primarily from palmitic and oleic acid (C16 and C18:1). Both of these fall within the C11-C24 feeding window.

The Malassezia yeast can potentially cleave these esters and release usable fatty acids, so this ingredient may not be fungal acne safe. However, not everyone will react to this ingredient.