Knowledge Sourcing Intelligence announces the publication of a new report on the Global Fatty Alcohol Market from 2019 to 2026 to their offering.
As per the report, the Fatty Alcohol Market size is expected to reach US$8.659 billion in 2026 from US$6.098 billion in 2019.
Global Fatty Alcohol is defined as the distinctive group of oleochemicals that is delivered from natural oil and fats. This strained-chain primary alcohol has wide applications such as in lubricants and personal care. One of the key reasons of the growth of the fatty alcohol market is the surge in the demand for the surfactants in the major economies. Due to its cleaning and detergent ability it is highly used in the detergents, textile including in the preparation & treatment of the silk and wools, soaps and personal care. Further, the fatty alcohol up to c18 is biodegradable while the surfactants facilitate the adoption of the fine-grained dye pigment thus, reducing the residual amount and making it environment friendly.
Fatty alcohol is one of the key ingredients of the surfactant formulations. Surfactants are widely used in the variety of the personal care products such as shampoo, shower gel, antiperspirant, conditioner and lipstick as thickeners and emollients due to their non-ionic and amphipathic surfactant nature. The fatty alcohol is extracted from bee wax and plant waxes which has been proven to reduce the plasma cholesterol in the humans. Additionally, the fatty alcohol is being used in the cosmetic industry as a emulsifies, solvent, penetration enhancer and antiseptic and buffer. The global fatty alcohol market for the personal care product is expected to witness the substantial growth during the forecasted period due to the rise in the awareness and disposable income of the consumers, thus, are ready to spend extra on the luxury personal care products.
Further the constant innovations and improvement in the products are further creating growth opportunities of the cosmetics and multifunctional products. Further the support and initiatives by the government and organizations are positively impacting the market growth of the fatty alcohol. For instance, the government of India have inaugurated Integrated Wool Development Program, IWDP, intending to support the wool sector, by enhancing quality and production. Moreover, rising environmental concerns due to the usage of petrochemicals and substituting them with natural oleochemicals, such as fatty alcohol will further drive the market.
However, the high manufacturing cost due to the fluctuating price of the raw material depending on the trading scenario is expected to hinder the market growth of the fatty alcohol during the forecasted period. Further, the high cost is one of the major restraints to the growth of the fatty alcohol market. The method of extraction includes the recovery of the solvent and reduced alcohol using the method of distillation which employs the consumption of the metallic sodium which directly increases the operational cost of extraction.
The elaborate and specific equipment that is necessary to recover both, solvent and reducing alcohol which increases the cost and technological jargon further restraining the market growth of the fatty alcohol during the forecasted period. The outbreak of the covid-19 pandemic and its subsequent lockdown across the globe affected every industry and distribution channel curbing the growth of the economy. The manufacturing process of the fatty alcohol production was halted majorly due to the disrupted supply chain and decreasing demand. Thus, the fatty alcohol market was negatively impacted by the coronavirus across the world.
Based on geography, the market for global fatty alcohol is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. Asia Pacific is expected to grow at the fastest CAGR during the forecasted period majorly due to the booming manufacturing sector such as food processing, soap & detergents, and industrial cleaning. Further, the presence of the major players in the region are playing a crucial role in driving the market growth of the fatty alcohol in the region. Further, the emerging trend of cosmetics and skincare products are proving growth opportunities for the fatty alcohols. The developing regions such as Japan, India, and China among others are projected to significantly contribute to the strengthening of the Asia Pacific region market during the forecasted period.
The global fatty alcohol market is segmented on the basis of types as C6 to C10 Fatty Alcohol, C11 to C14 Fatty Alcohol, and C15 to C22 Fatty Alcohol. C11 to C14 Fatty Alcohol holds the major share of the market by type due to the extensive usage in the detergents and soaps industry.
While the global fatty alcohol market is segmented on the basis of application is segmented as offline, Retail, Food Services, and Online.
As a part of the report, the major players operating in the global fatty alcohol market, which have been covered are Oleon NV, Wilmar International Ltd., Sasol, Musim Mas, Godrej Industries Ltd., Teck Guan Holdings, Kao Corporations, Emery Oleochemicals, BASF.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/fatty-alcohol-market
This report segmented the global fatty alcohol market on the basis following terms