NEW
YORK, July 15, 2024 /PRNewswire/ -- The
global fatty alcohols market size is estimated to grow by
USD 611.9 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 2.15% during the forecast period. Growing demand for
industrial and institutional cleaners is driving market
growth, with a trend towards growing demand for
biosurfactants. However, fluctuating raw material prices of
fatty alcohols poses a challenge. Key market players include AVRIL
SCA, BASF SE, CREMER OLEO GmbH and Co. KG, Croda International Plc,
Eastman Chemical Co., Ecogreen Oleochemicals PTE Ltd., Evonik
Industries AG, Godrej and Boyce Manufacturing Co. Ltd., Jarchem
Industries Inc., Kao Corp., Kuala Lumpur Kepong Berhad, Musim Mas
Group, Sasol Ltd., Saudi Basic Industries Corp., Shell plc, Sime
Darby Plantation Berhad, The Procter and Gamble Co.,
Timur OleoChemicals Malaysia Sdn. Bhd., VVF LLC, and Wilmar
International Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Pure and midcut,
Long chain, and Short chain), Application (Cleaning products,
Personal care, Lubricants, and Others), and Geography (APAC,
Europe, North America, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
AVRIL SCA, BASF SE,
CREMER OLEO GmbH and Co. KG, Croda International Plc, Eastman
Chemical Co., Ecogreen Oleochemicals PTE Ltd., Evonik Industries
AG, Godrej and Boyce Manufacturing Co. Ltd., Jarchem Industries
Inc., Kao Corp., Kuala Lumpur Kepong Berhad, Musim Mas Group, Sasol
Ltd., Saudi Basic Industries Corp., Shell plc, Sime Darby
Plantation Berhad, The Procter and Gamble Co., Timur OleoChemicals
Malaysia Sdn. Bhd., VVF LLC, and Wilmar International
Ltd.
|
Key Market Trends Fueling Growth
Fatty alcohols are essential oleochemicals with diverse
industrial applications, particularly in detergent production,
cosmetics and personal care, emulsion polymerization, and oil field
exploitation. The demand for fatty alcohols is driven by their
versatility and effectiveness in various applications. Traditional
methods of producing fatty alcohols, mainly through chemical
conversion of fatty acids from oil crops or petrochemical
feedstocks, have significant environmental and social implications,
such as deforestation, biodiversity loss, increased carbon
emissions, and chemical waste. Biosurfactants, produced through
microbial fermentation, offer a sustainable alternative to
traditional methods. These biodegradable and renewable surfactants
can produce fatty alcohols with specific chain lengths and
properties, reducing the environmental impact of their production.
The use of biosurfactants also enhances the solubility and
stability of fatty alcohols, expanding their industrial
applications. The global fatty alcohols market is growing, driven
by the increasing demand for eco-friendly and sustainable
production methods. Governments worldwide are promoting the use of
environmentally friendly surfactants, and manufacturers are
required to use eco-friendly raw materials in their production
processes. The biosurfactant market is developing rapidly, and
intensive research is ongoing to optimize their production and
applications. The use of biosurfactants in the production of fatty
alcohols is expected to positively influence the growth of the
global fatty alcohols market during the forecast period.
The Fatty Alcohols market is witnessing significant trends in
various industries. In the personal care sector, the demand for
eco-friendly ingredients is driving the shift from petroleum-based
products to bio-based ones. The coronavirus crisis and rising
disposable income have boosted the sales of personal care and
pharmaceutical products. However, supply chain disruptions due to
the crisis have affected the manufacturing sectors, leading to raw
material price hikes and delivery schedule delays. Bio-based
oleochemicals, derived from renewable resources like palm oil, PK
oil, tallow, rapeseed oil, etc., are gaining popularity as raw
materials in surfactants used in soaps and detergents. The
detergent industry, particularly surfactant-based industries, is a
major consumer of fatty alcohols. The amines and ethoxylates used
in these industries are also experiencing increased demand. The
international trade centre reports that modern detergents and
washing machines are driving the demand for synthetic detergent
intermediates and surfactant production. The detergent industry's
amphipathic nature, which allows them to lower the surface tension
between two immiscible liquids or a liquid and a solid, makes them
essential in various industrial and domestic applications. The
major economies, including China,
the US, and Europe, are the
leading producers of fatty alcohols. The production of these
chemicals is crucial to industries like lubricants, cosmetics, and
therapeutic medicines. Despite the challenges, the fatty alcohols
market is expected to grow, driven by the increasing demand for
eco-friendly and renewable resources-based products.
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Market Challenges
- Fatty alcohols are essential chemicals used in various
industries, primarily produced from vegetable oil and animal fat.
However, the supply of these raw materials faces constraints, with
animal fat production remaining relatively stable due to farmers
and ranchers not raising animals specifically for fat.
Additionally, the food industry's increasing demand for vegetable
oil for human consumption and biofuel production further reduces
the availability for industrial use. Furthermore, the prices of
ethylene and natural gas, essential raw materials for synthetic
fatty alcohols, are volatile due to the crude oil price
fluctuations and geopolitical instability in major oil-producing
regions. These factors are expected to pose challenges to the
growth of the global fatty alcohols market during the forecast
period.
- The Fatty Alcohols market faces several challenges in various
industries such as personal care and lubricants. The use of amines
in their production can pose regulatory issues. In industrial and
domestic applications, the shift towards renewable resources-based
products like palm oil, PK oil, tallow, and rapeseed oil, poses
challenges for factories in managing their supply networks and
delivery schedules. Raw material prices also impact production
costs. In surfactant-based industries, including cosmetics,
detergent industry, and modern detergents, the amphipathic nature
of fatty alcohols is essential. However, producing nonionic
surfactants, a common type, from fatty alcohols can be complex.
Synthetic detergent intermediates and surfactant production require
careful planning and coordination with major economies.
Additionally, fatty alcohols have applications in therapeutic
medicines and active pharmaceutical ingredients, as well as
traditional Chinese medicine. Ensuring compliance with
international trade regulations and maintaining consistent quality
is crucial in these sectors. With the increasing use of washing
machines and the growing demand for soaps, the market faces
pressure to meet production targets and maintain delivery
schedules.
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challenges - Download a Sample Report
Segment Overview
This fatty alcohols market report extensively covers market
segmentation by
- Type
- 1.1 Pure and midcut
- 1.2 Long chain
- 1.3 Short chain
- Application
- 2.1 Cleaning products
- 2.2 Personal care
- 2.3 Lubricants
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Pure and midcut- The global fatty alcohols market
experienced notable growth in 2022, driven by the increasing demand
for pure and midcut types. Pure fatty alcohols, with their long
carbon chains, are widely used in personal care products,
detergents, and pharmaceuticals due to their excellent emollient
and cleaning properties. Midcut fatty alcohols, featuring
medium-length carbon chains, are essential in surfactants,
industrial lubricants, and plasticizers. Consumer preference for
sustainable products, the expanding personal care and cosmetics
industry, and the growing applications in the chemical and
pharmaceutical sectors fueled market growth. Post-pandemic,
industrial activity resumed, leading to a rebound in fatty alcohols
demand. This favorable market situation presents opportunities for
producers and suppliers of both pure and midcut fatty alcohols,
resulting in significant market expansion during the forecast
period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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reports
The global low-alcohol beverages market is witnessing
significant growth, driven by increasing health consciousness and
demand for mindful drinking. In Europe, the vodka market is adapting to these
trends, introducing lower ABV options to appeal to health-savvy
consumers. Meanwhile, the global coconut alcohol market is
expanding as tropical flavors gain popularity, with coconut-based
spirits and cocktails becoming trendy in bars and households. These
market dynamics reflect a broader shift towards healthier and
innovative alcoholic beverage choices worldwide.
Research Analysis
The Fatty Alcohols market is witnessing significant growth,
particularly in the personal care industry, due to the rising
disposable income and increasing awareness towards eco-friendly
ingredients. The Coronavirus crisis has caused supply chain
disruptions, affecting the manufacturing sectors that produce both
petroleum-based and bio-based fatty alcohols. The personal care
sector, including surfactant-based industries, cosmetics, soaps,
and detergents, is a major consumer of fatty alcohols. Ethoxylates
and oleochemicals are the primary types of fatty alcohols used in
these applications. The shift towards renewable resources-based
products is also driving the demand for bio-based oleochemicals.
Factories and supply networks are working to maintain global
production and delivery schedules amidst raw material price
fluctuations. The amphipathic nature of fatty alcohols makes them
essential components in various industries, including industrial
and domestic applications.
Market Research Overview
The Fatty Alcohols market is witnessing significant growth in
various industries, particularly in the personal care sector. The
rising disposable income and increasing awareness towards
eco-friendly ingredients have led to a surge in demand for
bio-based fatty alcohols derived from renewable resources such as
palm oil, PK oil, tallow, rapeseed oil, and others. However, the
coronavirus crisis has caused supply chain disruptions, affecting
the manufacturing sectors and delivery schedules. The
petroleum-based fatty alcohols market is also facing challenges due
to the volatile raw material prices. The personal care and
pharmaceutical industries are major consumers of fatty alcohols,
using them as raw materials in the production of surfactants, soaps
and detergents, cosmetics, ethoxylates, and synthetic detergent
intermediates. The amphipathic nature of fatty alcohols makes them
essential in various industries, including lubricants, amines, and
industrial and domestic applications. The global production of
fatty alcohols is concentrated in major economies, with factories
in China, the United States, Europe, and India being the leading producers. The
International Trade Centre reports that the global trade in fatty
alcohols has been increasing steadily, with major exports coming
from China, the United States, and the European Union. The
detergent industry, particularly modern detergents, is a
significant consumer of nonionic surfactants, which are produced
from fatty alcohols. The demand for detergents has increased due to
the widespread use of washing machines, particularly in developing
economies. In addition, fatty alcohols are used in therapeutic
medicines and active pharmaceutical ingredients, as well as in
traditional Chinese medicine.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Pure And Midcut
- Long Chain
- Short Chain
- Application
-
- Cleaning Products
- Personal Care
- Lubricants
- Others
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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Email: media@technavio.com
Website: www.technavio.com/
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