The global fatty alcohols market has been foreseen by Transparency Market Research (TMR) to exhibit a consolidated nature for the forecast period 2015–2023. Few of the major participants operating in the global fatty alcohols market have been anticipated to be VVF LLC, Kuala Lumpur Kepong Berhad (KLK), Musim Mas Holdings, Wilmar International Ltd., and Sasol Limited. A host of chemical manufacturers could be drawn toward a wealth of raw materials such as soy and corn available in Asia Pacific to commence their operations therein. Some of the chief strategies that have been prognosticated to be adopted by players include widening geographical presence and expanding product portfolio.
Expected to rise at a CAGR of 5.1% during the aforementioned forecast period, the global fatty alcohols market could reach a valuation of US$5.5 bn by 2023, according to a market intelligence publication penned by TMR. C11-C14 fatty alcohols have been predicted to attract a telling demand and dominate the global fatty alcohols market until the concluding forecast year on account of their broad applications. Increasing population and disposable income of China and India could support Asia Pacific to top the global fatty alcohols market in terms of share.
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Personal Care Sector Ups Demand for C11-C14 and C15-C22 Fatty Alcohols
The world fatty alcohols market has been prophesied to witness a sturdy progress on the back of a mounting usage of personal care ingredients and demand for detergents and other cleaning agents. Personal care products could engage fatty alcohols as emollients and emulsifiers at a surging rate in the coming years. The personal care sector has been anticipated to be key for the growth of products such as C11-C14 fatty alcohols that are chiefly used for producing primary foaming agents such as sodium laureth ether sulphate (SLES). On the other hand, moisturizers and lubricant bases and blending require C15-C22 fatty alcohols during their production.
Besides this, detergents and soaps had accounted for a colossal share in the recent past. Other applications such as fragrances and flavors, plasticizers, and lubricants could also rake in a handsome demand in the world fatty alcohols market. Vendors have been envisaged to leverage the enhanced lifestyle of emerging nations in Asia Pacific that could bring in some bankable prospects of growth in the world fatty alcohols market. Following Asia Pacific, North America has been forecasted to fuel the demand in the world fatty alcohols market while riding on stringent government regulations.
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Market Suffers Downslide with Toggling Prices of Raw Materials
The authors of the publication have foretold the international fatty alcohols market to be negatively affected by the excess production of fatty alcohols and volatile nature of raw material prices. Nonetheless, manufacturers could be advantaged by generous growth opportunities that have been projected to flesh out with the snowballing sale of beauty products and cosmetics in BRIC nations. Furthermore, technological developments coupled with an elevating consumer preference for renewable chemicals and organic personal care products have been envisioned to bode well for the growth of the international fatty alcohols market. Vendors could be pampered with more favorable prospects due to the shift in consumer preference toward bio-ingredient-based products and high global demand for hygiene products.
The global fatty alcohols market has been segmented as presented below:
Global Fatty Alcohols Market – Product Analysis
C6-C10 Fatty Alcohols
C11-C14 Fatty Alcohols
C15-C22 Fatty Alcohols
C23 Fatty Alcohols and above
Global Fatty Alcohols Market – Application Analysis
Detergents and Soaps
Flavors and Fragrances
The information presented in this review is based on a TMR report, titled “Fatty Alcohols Market (Product – C6-C10 Fatty Alcohols, C11-C14 Fatty Alcohols, C15-C22 Fatty Alcohols, and C23 Fatty Alcohols and above; Application – Detergents and Soaps, Personal Care, Plasticizers, Lubricants, and Flavors and Fragrances) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”