Fatty Alcohols Market To Reach A Revised Size of USD 9991.8 Million By 2028, Growing At A CAGR of 5.4% | Valuates Reports
BANGALORE, India, Nov. 30, 2022 /PRNewswire/ -- Fatty Alcohols Market is segmented By Type - C6-C10 Fatty Alcohols, C11-C14 Fatty Alcohols, C15-C22 Fatty Alcohols, C23 Fatty Alcohols, By Application - Soaps & Detergents, Personal Care, Lubricants, Amines, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global market for Fatty Alcohols estimated at USD 7287.9 million in the year 2022, is projected to reach a revised size of USD 9991.8 million by 2028, growing at a CAGR of 5.4% during the forecast period 2022-2028.
Major Factors Driving the Growth of The Fatty Alcohols Market
Fatty alcohols are expected to be in high demand due to their wide range of applications in agricultural chemicals, household and industrial cleaners, mineral processing, textile coatings, detergents, and laundry softeners. Additionally, it is anticipated that throughout the projection period, the personal care and cosmetics industry would expand significantly, supporting the global Fatty Alcohols market.
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TRENDS INFLUENCING THE GROWTH OF FATTY ALCOHOLS MARKET
The home & personal care sector's rising need for fatty alcohols is anticipated to fuel the Fatty Alcohols market expansion. Natural fatty alcohols are becoming more widely used in surfactant-based industries, including personal care & cosmetics and soaps & detergents. The COVID-19 outbreak has raised awareness of the use of personal care and home care products. Detergents and washing soaps are two examples of goods based on surfactants that have seen a considerable increase in demand. As a preventative strategy against the transmission of the coronavirus, there is a rising demand for soaps, hand sanitizers, and other personal care items.
Concerns about the harmful consequences of petroleum-based products have sparked a desire for sustainable products across the globe. Manufacturers now incorporate environmentally friendly ingredients as consumers show an increased desire for items made from biomaterials. Unlike their traditional equivalents, these alcohols made from bio-based oleochemicals are less harmful and recyclable. Because they have few negative effects, these alcohols are highly sought after by the personal care and pharmaceutical industries. This will further fuel the Fatty Alcohols market.
Surfactants are made from fatty alcohol ethoxylates and sulfates, which are the basic precursors for the creation of fatty alcohols. Non-ionic surfactants called fatty alcohol ethoxylates are frequently employed in detergents for both residential and commercial use. In the pulp and paper, cosmetics, and agriculture industries as well as cleaning and wetting agents, fatty alcohol-based surfactants are employed. These fatty alcohol surfactants are primarily used as solubilizing and emulsifying agents in the textile and cosmetic industries.
Due to the hazardous effects of petrochemical-based replacements, consumers are becoming more and more aware of the advantages of bio-based products, which is likely to encourage them to adopt natural products that can increase the considerable prospects for Fatty Alcohols market growth.
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FATTY ALCOHOLS MARKET SHARE ANALYSIS
Due to its growing use in numerous end-use applications, including personal care and industrial & household cleaning, APAC is the largest and fastest-growing fatty alcohol market. Population growth, rising disposable income, and economic expansion in China, South Korea, and Taiwan are all contributing factors to the rise in demand. During the projection period, these elements are anticipated to increase the demand for fatty alcohol in the area.
During the projection period, the soaps and detergents category is anticipated to generate a significant market share. The expansion of this market will likely be fueled by rising personal hygiene awareness and rising standards of living in developing economies. The category is also anticipated to grow because of the increased demand for home and industrial cleaners to maintain a hygienic atmosphere.
The sector C11-C14 is anticipated to be the most lucrative. Its extensive use in the soap and detergent industry is credited with this rise.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Wilmar International Ltd
- VVF LLC
- Sasol Limited
- Procter Gamble
- Emery Oleochemicals
- Royal Dutch Shell plc
- Musim MAS
- KLK OLEO
- Godrej Industries
- Oxiteno
- Timur OleoChemicals
- Teck Guan
- Berg + Schmidt
- Oleon
- Global Green Chemicals Public
- Jarchem
- Cremer Oleo
- KH Neochem
- SABIC
- Arkema
- New Japan Chemical
- Zhejiang Jiahua Energy Chemical
- BASF
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SIMILAR REPORTS
- C11-C14 Fatty Alcohols Market
- Unsaturated Fatty Alcohols Market
- Natural Fatty Alcohols Market
- C15-C22 Fatty Alcohols Industry Research Report
- High-density Polyethylene market
- Heat Resistant Coating market
- Antimicrobial coatings market
Click Here To See Related Reports on Fatty Alcohols Market
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