Asia Pacific fatty alcohol market share was the largest segment in terms of production as well as consumption, and accounted for more than 37% of total demand; it is anticipated to witness growth of 4.8% from 2016 to 2023. The regional industry is characterized by a slew of new capacities, and volatility in palm kernel oil (PKO) prices.
Major benefits of this oleochemical include controlling unwanted cholesterol in human body and various skin benefits. The global oleochemicals market size is expected to grow to over USD 30 billion in 2023, up from over USD 20 billion in revenue in 2015. Fluctuating fatty alcohol market price trend due to increase in raw material cost is likely to hinder growth.
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C11-C14 was the largest product segment, accounting for around 55% of the fatty alcohols market share in 2015. It is used in sodium laureth sulfate production, a key foaming formula primarily used in shampoo and body washes formulations. C15-C22 is anticipated to grow at a CAGR of 4.5% over the forecast period. Increase in hygiene products demand accompanied by increasing consumer awareness is likely to drive the personal care industry.
Increasing consciousness among consumers pertaining to the benefits from bio-based products owing to the toxicities caused by petrochemicals-based alternatives has encouraged consumers to adopt natural products.
Fatty alcohols are a cost-effective petrochemical substitute as well as biodegradable in nature. Industries are shifting their focus towards chemicals derived from bio-based raw material in order to avoid petrochemicals dependency and reducing carbon footprint. Increasing concerns regarding the effect of petrochemicals on the environment and price volatility is likely to enhance bio-based products demand.
U.S. fatty alcohol market size is expected to be an attractive segment due to increasing natural products demand and stringent environmental regulations. Europe is anticipated to grow at a sluggish rate due to the uncertain economic situation.
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Applications are segmented into soaps & detergents, surfactants, personal care, and industrial solvents. Soaps & detergents were the dominant segment, accounted for more than 50% of the total fatty alcohols share. Growing natural emulsifiers and surfactants demand in soaps & detergents industry is anticipated to boost demand in this segment over the forecast period. Personal care industry which includes shampoo and body lotions is expected to be an attractive segment due to rise in standard of living. Increasing consumer preference towards organic products is likely to increase penetration in this segment.
This latest Fatty alcohol Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Fatty alcohol Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Fatty Alcohol Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Downstream Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.”, in detail along with the table of contents.
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Key Insights in this Report
- Global Fatty alcohol Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Fatty alcohol Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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