Pune, March 17, 2022 (GLOBE NEWSWIRE) — According to report published by Fior Markets, the global fatty alcohol market is expected to grow from USD 5.57 billion in 2020 to USD 9.29 billion by 2028 at a CAGR of 5 .6% over the forecast period 2021-2028.
Rising demand for products made from naturally derived ingredients and growth in the personal care industry are some of the factors driving the fatty alcohol market.
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Most fatty alcohols are found naturally as waxes such as esters with fatty acids and fatty alcohols. Marine mammals used it as biosonar lenses, and plants and insects in the form of waxes are used for thermal insulation. Vegetable oils are the usual sources of fatty alcohol and are widely used as raw material. Animal fats (tallow), especially whale oil, were also used as a source of fatty alcohol, but they are no longer used on a large scale. Tallows produce a fairly narrow range of alcohols, mostly C16-C18, chain lengths from plant sources are more variable (C6-C24), making it the ideal source. Higher alcohols (C20-C22) can be obtained from rapeseed oil or mustard seed oil. Medium cut alcohols are obtained from coconut oil (C12-C14) or palm kernel oil (C16-C18). Fatty alcohols can also be produced from petrochemical sources. The expansion of the cosmetics and personal care industry in emerging economies, with increased demand for high-end skin and hair care products, children’s beauty care products and color cosmetics , along with increasing disposable income are factors expected to drive the growth of the global fatty alcohol market. About 50% of the fatty alcohols used commercially are of natural origin, the rest being synthetic.
The fluctuation of raw material price is one of the restraining forces. The fluctuating prices of raw materials essential for the production of fatty alcohol are the major constraint for the market as this affects the production of fatty alcohol and also affects its price depending on its requirement by various market segments. It also affects the supply chain from the supply of fatty alcohol to the necessary organization. It affects the overall market so much like personal care market, detergent market etc where it is used.
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The major players operating in the global fatty alcohols market are BASF, Univar Inc, KLK Oleo, VVF LLC, P&G Chemicals, EcogreenOleochemicals, Kao Corporation, Sasol Limited, Royal Dutch Shell Plc, Emery Oleochemicals, Berg + Schmidt GmbH & Co KG, Wilmar International Ltd, Godrej Industries Ltd and Arkema SA, among others. To improve their position in the global fatty alcohol market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, etc.
• In 2015, Kuala Lumpur Kepong Berhad (KLK), through its oleochemical unit KLK OLEO, is in talks with Mitsui to set up storage facilities in Houston, Texas, for the company’s imports of fatty alcohols.
• In 2019, Univar’s acquisition of Nexeo Solutions in March of this year and its partnership with Kraton over the summer provided a win-win solution for Univar Solutions’ oleochemical customers, the company gained access to a broad product portfolio while continuing its relationship with an expert application development team.
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The pure and mid-range segment dominates the market with a market value of USD 2.68 billion in 2020
The type segment is divided into pure and medium cut, long chain, short chain and upper chain. As of 2020, pure and medium cut is the major type segment of the global fatty alcohol market with a market value of USD 2.68 billion. Growing demand for pure and medium alcohol, especially in Asia Pacific, is expected to drive the product segment market over the forecast period. This type of fatty alcohols are used for sodium laureth ether sulfate (SLES), a major foaming agent found in shampoo and shower gel formulations.
The detergents and cleaners segment dominates the market with a market value of USD 1.77 billion in 2020
The applications segment includes detergents and cleaners, cosmetics and personal care, lubricants, plasticizers, pharmaceuticals, food and nutrition and others. In 2020, detergents and cleaners are the leading application segment with a market value of $1.77 billion. Rising population in the Asia-Pacific region is expected to increase the requirement for cleaners and detergents over the forecast period. The cleaners and detergents industry is characterized by various distinguished products that cater to diverse consumer needs and is expected to grow during the forecast period. This, in turn, is expected to boost the fatty alcohol industry in the near future. Cosmetics and personal care is expected to be the fastest growing fatty alcohol application segment during the forecast period owing to the growing demand for personal care products, especially in Asia-Pacific in the future. valued.
Regional Segment Analysis of Fatty Alcohol Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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Regions analyzed for Fatty Alcohol market include North America, Europe, South America, Asia-Pacific, Middle East and Africa. Asia-Pacific has emerged as the largest market for the fatty alcohol market, with a market value of USD 2.11 billion in 2020. Asia-Pacific is not only the largest consumer but also the largest producer of fatty alcohols. fatty alcohols and holds more than half of the world’s production. To make Asia-Pacific the largest hub for commodity fatty alcohols and downstream products, plantation companies have teamed up with chemical manufacturers in recent years. Europe followed Asia-Pacific to become the second largest regional market.
About the report:
The global fatty alcohol market is analyzed on the basis of value (USD billion), volume (kilotons), consumption (kilotons), import (kilotons) and export (kilotons). All segments have been analyzed on a global, regional and country basis. . The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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