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Fatty Alcohols Market
Fatty Alcohols Market: Versatile Applications in Industries, from Personal Care Products to Industrial Manufacturing Processes.
Surging demand for sustainable and eco-friendly products accelerates the Fatty Alcohols market, driven by their versatile applications in personal care, pharmaceuticals, and detergents.” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, March 6, 2024 /EINPresswire / --“Exactitude Consultancy That Adds Flavour To Your Success”
Fatty alcohols are straight-chain and high molecular weight primary alcohols. These are natural and petrochemical based waxy solids or oily liquids. These alcohols are exhibiting high demand from the personal care industry due to the increasing importance of personal hygiene and sanitation, amidst the coronavirus crisis. The surging demand for sustainable and biodegradable cosmetic products is further set to support the growth of the market. The rising disposable income and increasing expenditure by consumers on cosmetic products is another factor driving the market growth. Factors such as supply chain disruptions and volatile raw material prices, on the other hand, would weaken the market growth.
The Global Fatty Alcohols Market Size, Scope, and Forecast 2024-2030 report has been added to the Market research collection of Exactitude Consultancy reports. Industry experts and researchers have offered an authoritative and concise analysis of the Global Fatty Alcohols Market with respect to various aspects such as growth factors, challenges, restraints, developments, and opportunities for growth. This report provides a pin-point analysis of changing dynamics and emerging trends in the Global Fatty Alcohols Market. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Worldwide Global Fatty Alcohols Market in the coming years.
The global fatty alcohols market is expected to grow at 5.60 % CAGR from 2023 to 2030. It is expected to reach above USD 8.49 Billion by 2030 from USD 5.20 Billion in 2023.
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Some of the key players profiled in the study are: BASF, Univar Inc, KLK Oleo, VVF LLC, P & G Chemicals, Ecogreen Oleochemicals, Kao Corporation, Sasol Limited, Royal Dutch Shell Plc, Arkema SA and other Prominent players.
Industry Development:
March 2021 – KLK OLEO just expanded its business footprint to the Americas with a new sales office at Woodbury, NY, USA. KLK OLEO Americas (KLKOA) will oversee the sales and marketing in the United States, Canada and South America. And continuously maintain and build customer relationships for the KLK OLEO group product portfolio.
November 2022 – Kao Corporation have developed a decoration processing technology that can design products according to the consumers' needs and a dynamic cell production technology that enables efficient high-mix low-volume manufacturing by optimization of floating linear technology*1 in collaboration with B&R K.K. and Kyoto Seisakusho Co., Ltd. The new never-before-seen production system will begin operation in 2023.
Competition is an important issue in any market research analysis. With the help of the competitive analysis provided in the report, players can easily study the key strategies employed by leading players in the Global Fatty Alcohols Market. The major and emerging players of the Global Fatty Alcohols Market are closely studied considering their market share, production, sales, revenue growth, gross margin, product portfolio, and other important factors. This will help players familiarize themselves with the movements of their toughest competitors in the Global Fatty Alcohols market.
The segmental analysis section of the report includes a thorough research study on key type and application segments of the Global Fatty Alcohols market
Fatty Alcohols Market By Type, 2020-2030, (USD Billion), (Kilotons)
Short Chain
Pure And Mid Cut
Long Chain
Higher Chain
Fatty Alcohols Market By Application, 2020-2030, (USD Billion), (Kilotons)
Soaps & Detergents
Personal Care
Lubricants
Amines
Global Fatty Alcohols Market Regional Analysis/Insights
The Asia Pacific area consumes and produces the most of fatty alcohols, accounting for the majority of the worldwide market. Increased demand from end-use sectors such as personal care, home care, and industrial goods, as well as large-scale manufacturing by prominent manufacturers, are driving market expansion. The region's embrace of natural and sustainable products, as well as favorable government regulations encouraging the use of renewable resources, have all contributed to the market's expansion. China, India, Japan, and South Korea are key consumers in the Asia Pacific fatty alcohols market because to their big population, developing economy, and increasing need for personal care and home care products.
The North American fatty alcohols market is the second-largest in the world, driven by the increasing demand for personal care products and the growing trend towards natural and sustainable products. The United States is the largest consumer and producer of fatty alcohols in the region, with several leading manufacturers. The region's favorable government policies and the presence of key end-use industries have enabled the growth of the market. Additionally, the development of new and innovative applications of fatty alcohols in the industrial sector is expected to drive the market's growth further.
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Driver: Increased demand for fatty alcohols in the home & personal care industry
Market penetration of natural fatty alcohols has risen in surfactant-based industries, such as personal care & cosmetics and soaps & detergents. Due to the COVID-19 outbreak, there is increased awareness regarding the use of home care and personal care products. The demand for surfactant-based products, such as detergents and washing soaps, has risen significantly. The demand for soaps, hand sanitizers, and other personal care products is increasing as a precautionary measure against the spread of coronavirus.
Restraint: Surplus production of fatty alcohols leading to oversupply
Earlier, due to stringent regulations in developed countries, such as Japan, the US, and Germany, many manufacturers started the production of fatty alcohols to promote the use of environmentally friendly products. This resulted in large-scale manufacturing of oleochemicals in ASEAN countries, such as Malaysia, Singapore, and Indonesia, which used natural raw materials such as vegetable oil and fats to synthesize fatty alcohols. Easy and abundant availability of raw materials and numerous manufacturing facilities further augmented the production. This prompted regions, such as North America and Europe, to import the naturally-derived fatty alcohols on a large scale.
Opportunity: Increase in demand for bio-based and renewable resources-based products
Changing consumer preferences are observed to drive the demand for bio-based chemicals. Consumer awareness regarding the impact of hazardous petroleum-based products on the environment has increased exponentially over the past decade. Growing environmental concerns are encouraging consumers to use eco-friendly products. Such factors are impelling chemical manufacturers to use bio-based raw materials to manufacture their products.
Challenges: Fluctuating raw material prices
The major raw materials used for manufacturing fatty alcohols are palm oil, PK oil, tallow, and rapeseed oil, among others. Regions such as North America and Europe import these raw materials from APAC, as the latter's geographic conditions support the production of raw materials for fatty alcohols. Due to this, prices may fluctuate often depending on the trading scenario between these regions.
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Inculcation and Evaluation of Strategic Collaborations: The researchers analyse recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures.
Perfect Market Size Estimations: The report analyses the demographics, growth potential, and capability of the Global Fatty Alcohols market through the forecast period.
This factor leads to the estimation of the Global Fatty Alcohols market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular Global Fatty Alcohols market that will help the stakeholders to be aware of the current investment scenario across the market.
What is new in 2024?
- Major developments that can change the business landscape as well as market forecasts.
- Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
- Coverage of new market players and change in the market share of existing players of the Global Fatty Alcohols market.
- Updated financial information and product portfolios of players operating in the Global Fatty Alcohols market.
- Updated market developments of the profiled players.
- Any new data points/analysis (frameworks) which was not present in the previous version of the report
The new edition of the report consists of trends/disruptions on customer's business, tariff and regulatory landscape, pricing analysis, and a market ecosystem map to enable a better understanding of the market dynamics for Global Fatty Alcohols.
Customization services available with the report:
- Country level market for Global Fatty Alcohols market (up to 5)
- Profiling and additional market players (up to 5)
- Up to 40 hours of customization.
- post-sales support for 1 year from the date of delivery.
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