26-Feb-2024 | Zion Market Research
Zion Market Research has published a new report titled “Fatty Alcohol Market by Type (Short Chain Fatty Alcohol, Pure & Mid-cut Fatty Alcohol, Long Chain Fatty Alcohol, and Higher Chain Fatty Alcohol), by Application (Industrial & Domestic Cleaning, Personal Care, Lubricants, Plasticizers, Pharmaceutical Formulation, Food & Nutrition, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032’’. According to the report, the global fatty alcohol market was valued at around USD 6.70 billion in 2023 and is expected to reach approximately USD 10.67 billion by 2032, growing at a CAGR of slightly above 5.30% between 2024 and 2032.
The fatty alcohol is derived from fatty acids and forms the basic building blocks of products like soaps, shampoos, and cosmetics among others. Fatty alcohols are colorless oily liquids or solid wax substances that are widely used in making cleaning products. They are amphipathic in nature and act as non-ionic surfactants. The fatty alcohols are mainly being used as emulsifiers, thickeners, emollients, and lubricating agents across different industries.
Browse the full "Fatty Alcohol Market by Type (Short Chain Fatty Alcohol, Pure & Mid-cut Fatty Alcohol, Long Chain Fatty Alcohol, and Higher Chain Fatty Alcohol), by Application (Industrial & Domestic Cleaning, Personal Care, Lubricants, Plasticizers, Pharmaceutical Formulation, Food & Nutrition, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032" report at https://www.zionmarketresearch.com/report/fatty-alcohol-market
Naturally derived fatty acid forms one of the highest-growing market segments in the global fatty alcohol market. The demand for soaps made from naturally derived ingredients and bio-based personal care products is more in demand by consumers. The chemical industry has gradually shifted its preference towards the use of bio-based chemicals as the prices of products derived from petrochemicals are volatile in nature. The uncertainty involved with the availability and price of the petrochemicals that may disturb the supply-demand balance has led to a higher demand for bio-based chemicals. In addition to this, there are various environmental concerns regarding the usage of petrochemicals which have majorly affected the usage of bio-based chemicals as they are more sustainable. The bio-based materials decrease the carbon footprint and are environment-friendly.
Various companies are shifting their focus towards the usage of bio-based raw materials and developing biodegradable products. There is an increase in demand for personal hygiene products as consumer awareness of the products is increasing at a higher growth rate. The market for personal care products is likely to have a growth rate of around 8.2% during the forecast timeframe and is expected to have a market value of around USD 724.12 billion by the end of 2032. However, surplus production of fatty alcohol leading to oversupply may act as a restraining factor for the market growth of fatty alcohol. Considering all these factors, it is the feedstock flexibility and growing consumption of fatty alcohol in emerging clusters within the Asia Pacific that will provide new opportunities for the overall market growth.
The global fatty alcohol market is divided based on type, application, and region. Type is segmented into the short chain, long chain, pure & mid-cut, and higher chain. Based on application, the market is segmented into personal care, plasticizers, industrial & domestic cleaning, lubricants, pharmaceutical formulation, food & nutrition, and others.
The personal care segment is estimated to be one of the most dominant segments of the global fatty alcohol market and is expected to maintain its leading position over the estimated period. An increase in demand for personal hygiene products around the globe is expected to drive the need for fatty alcohol in the years to come.
Geographically, the market is segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The Asia Pacific contributed the most important share of the fatty alcohol market regarding its value in 2023. This can be attributed to the huge demand for cosmetics and personal care products in the region. North America's fatty alcohol market is also expected to witness significant growth during the forecast period.
Some of the major players operating in the global fatty alcohol market are Royal Dutch Shell PLC, Kuala Lumpur Kepong Berhad (KLK), Wilmar International Ltd, Sasol, Godrej Industries Limited, Emery Oleochemicals, Musim Mas Holdings, Procter & Gamble, VVF Ltd, and others.
The report segments the global fatty alcohol market as follows:
Fatty Alcohol Market: Type Segment Analysis
Fatty Alcohol Market: Application Segment Analysis
Fatty Alcohol Market: Regional Segment Analysis
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