Lauryl Myristyl Alcohol Market Size, Share, Industry Analysis, Trends, Growth, 2032

Lauryl Myristyl Alcohol Industry Prospective:

The global lauryl myristyl alcohol market size was evaluated at $8.2 billion in 2023 and is slated to hit $13.5 billion by the end of 2032 with a CAGR of nearly 5.7% between 2024 and 2032.  

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Lauryl Myristyl Alcohol Market: Overview

Lauryl myristyl alcohol is a fatty alcohol extracted from natural oils. Furthermore, it finds a slew of applications as emulsifiers & surfactants in industrial processes, cosmetics, and pharmaceuticals sectors. The product is made up of C12 and C14 compounds referred to as lauryl and myristyl.

Key Insights

• As per the analysis shared by our research analyst, the global lauryl myristyl alcohol market is projected to expand annually at the annual growth rate of around 5.7% over the forecast timespan (2024-2032)
• In terms of revenue, the global lauryl myristyl alcohol market size was evaluated at nearly $8.2 billion in 2023 and is expected to reach $13.5 billion by 2032.
• The global lauryl myristyl alcohol market is anticipated to grow rapidly over the forecast timeline owing to the escalating popularity of high-end skin & hair care items.
• In terms of application, the personal care segment is slated to register the highest CAGR over the forecast period.
• Based on source, the natural segment is predicted to dominate the segmental space in the years to come.
• Based on type, the long-chain segment is predicted to lead the segmental growth in the upcoming years.
• Region-wise, the Asia-Pacific lauryl myristyl alcohol industry is projected to register the fastest CAGR during the projected timespan.

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Lauryl Myristyl Alcohol Market: Growth Factors

Growing product use in skin care & cosmetics products to boost the global market trends

Flourishing cosmetics & personal care sectors are likely to boost the growth of the global lauryl myristyl alcohol market. The escalating popularity of high-end skin & hair care items is anticipated to enhance the scope of growth of the global market. A shift in the customer preference towards organic personal care items is likely to prop up the expansion of the market globally. Growing demand for environment-friendly products has scaled up the use of lauryl myristyl alcohol, thereby driving the global market trends.

Moreover, the inclination of producers and customers towards biodegradable and sustainable cosmetic items will proliferate the size of the global market. Apart from this, the escalating use of alcohol ethoxylates in paints & coatings as well as in the oil & gas sectors will steer the expansion of the market globally.  

Lauryl Myristyl Alcohol Market: Restraints

Oscillating raw material prices can hinder the expansion of the global industry over forecast period

Fluctuating raw component costs can result in a surge in product costs, thereby severely affecting the growth of the global lauryl myristyl alcohol industry. Apart from this, side effects caused by the compound such can inhalation problems, corrosive ingestion, and skin & eye irritation can impede the expansion of the global industry.

Lauryl Myristyl Alcohol Market: Opportunities

Surging consumer preference for recyclable chemicals opens new growth avenues for the global market

Growing customer inclination towards renewable chemicals and technological innovations is anticipated to open new avenues of growth for the global lauryl myristyl alcohol market. A surge in the per capita income, rates of literacy, swift urbanization, and changing lifestyles will embellish the growth of the market globally.

Huge demand for hygiene items along with rising customer awareness is predicted to impel the growth of the market across the globe. A steep increment in the use of fatty oils as lubricants & plasticizers owing to their cost-efficiency and recyclability is anticipated to spur the market landscape globally.

Lauryl Myristyl Alcohol Market: Challenges

Interruptions in the supply chain activities can obstruct the expansion of the industry globally by 2032

Supply chain disruptions and ongoing conflicts between Russia & Ukraine and Israel & Hamas can prove to be a huge challenge to the expansion of the global lauryl myristyl alcohol industry.

Lauryl Myristyl Alcohol Market: Segmentation

The global lauryl myristyl alcohol market is divided into application, source, type, and region.                                        

In application terms, the lauryl myristyl alcohol market across the globe is segregated into plasticizers, industrial & domestic cleaning, pharmaceutical formulation, personal care, food & nutrition, lubricants, and other segments. Furthermore, the personal care segment, which accumulated nearly two-fifths of the global market earnings in 2023, is expected to record the fastest rate of annual growth in the forecast timespan. The expansion of the segment in the coming couple of years can be ascribed to a rise in the demand for products in the personal care segment as it acts as an emulsifier & viscosity-enhancing agent and makes cosmetics creamy and spreadable.

On the basis of source, the global lauryl myristyl alcohol industry is bifurcated into petrochemical and natural segments. Additionally, the natural segment, which acquired the largest chunk of the global industry share in 2023, is expected to lead the segmental space in the next couple of years. The segmental expansion from 2024 to 2032 can be ascribed to escalating demand for bio-based items by consumers. Furthermore, natural sources of products are eco-friendly as they are extracted from plant-based sources such as palm and coconut oils.

Based on the type, the global lauryl myristyl alcohol market is bifurcated into short-chain, long-chain, mid-cut chain, and higher-chain segments. Additionally, the long-chain segment, which acquired the largest chunk of the global market share in 2023, is anticipated to lead the segmental surge in the coming years. The segmental expansion from 2024 to 2032 can be endorsed to a rise in the use of oleyl alcohol, natural emulsifiers, octadecenol, and surfactants in soaps & detergents.

Lauryl Myristyl Alcohol Market: Report Scope

Lauryl Myristyl Alcohol Market: Regional Insights

North America is predicted to maintain the leading position in the global lauryl myristyl alcohol market in the ensuing years

North America, which accounted for the highest share of the global lauryl myristyl alcohol market in 2023, is set to lead the global market in the years to come. Furthermore, the regional market expansion in the next couple of years can be a result of the escalating use of products in the flourishing food & cosmetics sectors in countries such as the U.S. Apparently, the rapid growth of e-commerce activities in Canada and the U.S. will enhance the business landscape in the region.

Asia-Pacific lauryl myristyl alcohol industry is expected to register the fastest CAGR in the forecast timeline. The elevation of the industry in the APAC region over the coming eight years can be attributed to changing fashion trends along with the growing acceptance of low-foaling cleaners & detergents in the countries of Asia. The rapid expansion of industrial manufacturing & chemical synthesizing in countries such as India and China will impel the industry growth in the region. 

Key Developments

• In the first half of 2022, Unilever & Genomatica joined hands to form a joint venture to increase biotech production as a substitute for palm oil. Reportedly, the new joint venture unit will help in creating substitute palm oil ingredients such as fatty acids by using cost-effective & sustainable biological methods.

Lauryl Myristyl Alcohol Market: Competitive Space

The global lauryl myristyl alcohol market profiles key players such as:

• BASF SE
• P&G Chemicals
• Croda International Plc.
• VVF LLC
• Eco Green Oleochemicals
• The Dow Chemical Company
• The Lubrizol Corporation

The global lauryl myristyl alcohol market is segmented as follows:

By Application

• Plasticizers
• Industrial & Domestic Cleaning
• Pharmaceutical Formulation
• Personal Care
• Food & Nutrition
• Lubricants
• Others

By Source

• Petrochemical
• Natural

By Type

• Short-Chain
• Long-Chain
• Mid-Cut Chain
• Higher Chain

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa