In 2014, the global fatty alcohol market demanded 2,345.8 kilogramons. The market is expected to grow at 4.3% between 2015 and 2022. Global fatty alcohol industry will continue to be driven by a growing demand for sustainable and biodegradable products due to reducing petrochemical dependency. The volatile price of petrochemical-derived products due to supply-demand imbalances has raised concerns for the global chemical industry, which has led to this shift towards biobased chemicals.
Bio-based, sustainable chemicals have been developed in response to growing concerns about the environmental impact of petrochemicals. To reduce dependence on petrochemicals, and decrease their carbon footprint, the industry has switched to developing biodegradable products through bio-based raw material. The trend is expected to be supported by regulations from agencies like REACH on the environmental hazards of petrochemical-based goods.
Fatty alcohols can be biodegraded in the environment and have the same applications as petrochemicals. They are also a cost-effective option to petrochemicals. The production of fatty alcohols will be positively affected by an increase in sustainable raw materials like oilseed. This will allow for greater market penetration and broaden the possibilities of downstream applications. Soybean oil, sunflower oil and rapeseed oils are the main sources of fatty alcohols.
Over the forecasts period, personal care industry is expected to grow due to a global increase in hygiene products demand and increasing consumer awareness. Personal care product demand is expected to shift towards bio-ingredient products due to increasing awareness about the potential toxicity of petrochemical products. These factors have a positive impact on the demand for fatty alcohols in the personal care industry.
C11-C14 fatty Alcohols emerged as the most popular product segment, accounting for more than 58% of overall market share in 2014. The market for product segments is expected to grow due to rising C11-C14 alcohol consumption, particularly in Asia Pacific. C11-C14 fat alcohols are used to make sodium laurethether sulphate, a foaming agent in shampoo and body washes. The fastest-growing product segment is expected to be C15-C22 fat alcohols over the forecast period. The market's main driver is expected to be the expansion of product segments.
The global C6-C10-based fatty alcohol market was 448.8 kg in 2014. It is projected to grow at a CAGR of 3.7% between 2015 and 2022. The forecast period will see a growing demand for C6/C10 fatty alcohol, which is used as a raw material in the personal care and detergents industries. The market is expected to grow due to rising soaps & detergents demand and increased personal care product demand in Asia Pacific.
The largest segment was soaps & detergents, accounting for more than 54% market share in 2014. The forecast period will see a rise in soaps and detergents demand from Asia Pacific. There are many products in the soap and detergent industry that meet different consumer needs. This is expected to continue to grow during the forecast period.
This is expected to boost the fatty alcohol market in the near future. Because of the rising demand for personal care products in Asia Pacific, which is expected to continue to grow rapidly over the next few years, personal care will be the fastest-growing application segment for fatty liquors. The product market will be driven by rising awareness about personal hygiene and care in the near future.
Personal care products like creams, lotions, and shampoos, are made with fatty alcohols. This market is highly differentiated to meet consumer demands. The market will grow due to the growing personal care industry and rising disposable income.
Asia Pacific accounted for more than 30% of total market volume in 2014 and was the largest regional market for fatty alcohols. Asia Pacific is expected to see a rise in soaps and detergents demand due to population growth and higher disposable income. Asia Pacific will be the fastest-growing regional market, in addition to being the largest. Europe emerged as the second largest regional market after Asia Pacific.
It is likely that the regional market will lose share to regions with high growth such as Central & South America and Asia Pacific. The market for Europe fatty alcohols is expected to be affected by the uncertain economic situation in Asia Pacific and the slowing growth of key downstream industries. North America is expected to experience average growth during the forecast period. This is due to rising demand for bio-based products owing to increased consumer awareness and stringent regulations.
Global fatty alcohols market players include Croda International and Eastman Chemical Company as well as Ecogreen Oleochemicals and Emery Oleochemicals. Many chemical manufacturers have moved to Asia Pacific to diversify their production lines from North America and Europe due to the increased availability of raw materials like soy, corn, and rapeseed in China, Malaysia, and Indonesia.
Asia Pacific is the largest consumer of fatty alcohols. It also produces more than half of global production. To reduce costs and limit excess capacity, large Asian plantation companies have invested in downstream feedstock capacities. These companies have teamed up over the past few years with chemical producers to strengthen Asia Pacific's position as the largest hub for base and downstream fatty alcohols.
Up Market Research published a new report titled “Fatty Alcohol Market research report which is segmented by Application (Personal Care, Amines, Soaps & Detergents, Lubricants), by Product (C6-C10, C15-C22, C11-C14), By Players/Companies Ecogreen Oleochemical and Emery Oleochemicals Increased availability of raw materials such as soy, rapeseed and corn in China, Croda International, Malaysia and Indonesia and has forced numerous chemical manufactures to shift base from Europe and North America to invest in Asia Pacific, Eastman Chemical Company, BASF SE”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Fatty Alcohol Market Research Report |
By Application | Personal Care, Amines, Soaps & Detergents, Lubricants |
By Product | C6-C10, C15-C22, C11-C14 |
By Companies | Ecogreen Oleochemical and Emery Oleochemicals Increased availability of raw materials such as soy, rapeseed and corn in China, Croda International, Malaysia and Indonesia and has forced numerous chemical manufactures to shift base from Europe and North America to invest in Asia Pacific, Eastman Chemical Company, BASF SE |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 234 |
Number of Tables & Figures | 164 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Personal Care, Amines, Soaps & Detergents, Lubricants), by Product (C6-C10, C15-C22, C11-C14).
Fatty Alcohol Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Fatty Alcohol Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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