Global Fatty Alcohols Market Size By Product (C6-C10, C11-C14, C15-C22) , By Application (Lubricants, Soap And Detergents, Amine), By Geographic Scope And Forecast
Global Fatty Alcohols Market Size By Product (C6-C10, C11-C14, C15-C22) , By Application (Lubricants, Soap And Detergents, Amine), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Fatty Alcohols Market size was standing at USD 5.82 Billion in 2022 and is estimated to stand at USD 7.77 Billion by 2030, registering a CAGR of 3.68% from 2024 to 2030.
The rising demand for surfactants in personal care products such as lipsticks, conditioners, shower gel, and antiperspirants is identified as the primary cause that is helping the global Fatty Alcohols Market to grow significantly. These are also biodegradable and cost-effective, expected to propel the market growth for fatty alcohol in the forecast years. The Global Fatty Alcohols Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Fatty Alcohols Market Definition
Fatty alcohols are produced from fatty acids and are a group of organic compounds. Fatty alcohols are biodegradable and offer the same application as petrochemicals. Moreover, they are less in cost and an excellent alternative to petrochemicals. Growing the supply of sustainable raw materials in the form of oilseed is expected to impact fatty alcohol production positively. This is further expected to offer a wide range of downstream applications, thus taking a market penetration peak. Significant sources of fatty alcohols include safflower oil, rapeseed oil, soybean oil, sunflower oil, tall oil, palm oil, and beef tallow.
Fatty alcohols are used as emulsifiers, catalytic hydrogenation, and emollients in cosmetics and beauty products. The global expansion in hygienic product demand and surging consumer awareness is anticipated to hike the personal care industry and fuel the growth of the Fatty Alcohols Market. Expanding oleyl alcohol, echolocation, octadecenoic, natural emulsifiers, and surfactants demand in the soaps and detergents manufacturing will boost demand for fatty alcohols over the forecast years. Fatty alcohols are also used in plasticizers, which are used in plastics to improve physical-mechanical properties.
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Global Fatty Alcohols Market Overview
The rising concerns regarding the effect of petrochemicals on the environment have fueled the use of bio-based, sustainable chemicals. To minimize dependency on petrochemicals and reduce its carbon footprint, the industry has switched its focus towards creating biodegradable products and base chemicals through bio-based raw materials. Various regulations from regulatory agencies about the environmental risks associated with petrochemical-based products are expected to enhance the growth of the global market for fatty alcohol. Compared to traditionally utilized mechanical systems, these new variants are subject to enhanced horsepower levels and a more accurate and precise current flow.
Looking ahead, the global Fatty Alcohols Market is expected to grow, thanks to a few things. Think government policies encouraging us to keep an eye on carbon emissions and the fact that people have more money to spend. Plus, we're all buying more hygiene products! In the personal care sector, increased consumer awareness is also a big driver. Basically, we're starting to prefer products with bio-ingredients because we're worried about the toxicity of petrochemicals. This shift in what we want is really boosting the demand for fatty alcohols in the personal care industry.
Global Fatty Alcohols Market Segmentation Analysis
The Global Fatty Alcohols Market is segregated based on Product, Application, And Geography.
Fatty Alcohols Market, By Product
C6-C10
C11-C14
C15-C22
based on Product, the market is segmented into C6-C10, C11-C14, and C15-C22. C11-C14 fatty alcohols lead the global Fatty Alcohols Market and account for more than fifty percent of the shares. Increasing demand for C11-C14 in regions like the Asia Pacific is anticipated to propel the segment in the global market.
Fatty Alcohols Market, By Application
Lubricants
Soap and detergents
Amine
Personal care
based on Application, the market is segmented into lubricants, soap and detergents, amine, and personal care. The soaps and detergents segment is anticipated to gain the most significant portion of the share in the market. Increasing consumption of soaps and detergents in Asia Pacific regions supports the segment’s growth.
Fatty Alcohols Market, By Geography
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Based on Geography, the global Fatty Alcohols Market is classified into North America, Europe, the Asia Pacific, Latin America and the Middle East, and Africa. Asia Pacific region owns the dominating share of the global market owing to the escalating demand for personal care and cosmetic goods in the region. The rising population and enhanced use of soaps and detergents are also growth factors.
Key Players
The Global Fatty Alcohols Market report also offers clear insights into the competitive landscape and the leading players in the global market. The leading players in Global Fatty Alcohols Market are Wilmar International Ltd, Godrej Industries, KLK OLEO, P&G Chemicals, SABIC, Musim Mas, Sasol, VVF, BASF SE, and Royal Dutch Shell.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments
In November 2022, Sinarmas CEPSA, a joint venture between Spanish CEPSA and Indonesian corporation Sinar Mas, signed an MoU with Singaporean palm oil producer Golden Agri-Resources, a subsidiary of Sinar Mas to enhance its bio-based chemicals production.
In September 2022, Godrej & Boyce collaborated with Pando, the top player in supply chain technology, to digitally innovate their logistics and fulfillment operations to enhance their sustainability goals.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Fatty Alcohols Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Fatty Alcohols Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Wilmar International Ltd, Godrej Industries, KLK OLEO, P&G Chemicals, SABIC, Musim Mas, Sasol, VVF, BASF SE, and Royal Dutch Shell.
SEGMENTS COVERED
By Product
By Application
By Geography
CUSTOMIZATION SCOPE
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