DUBLIN , Nov. 4, 2022 /PRNewswire/ -- The "Fatty Alcohols Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The fatty alcohol market is expected to cross the market revenues of US $10 billion by 2030 growing at a CAGR of 5.5% during the forecast period of 2022 to 2030.
During the forecast period, the personal care industry is anticipated to be driven by a growth in global demand for hygiene products, as well as an increase in the level of consumer awareness. It is anticipated that the market for personal care products would be driven by a shift in customer preference toward bio-ingredient based product demand. This preference shift is a result of rising knowledge regarding the potential toxicity caused by petrochemical goods.
These variables, in turn, are accountable for a favourable impact that has been exerted on the demand for fatty alcohols in the personal care business. In their natural state, fatty alcohols can be broken down into simpler substances and serve the same purpose as petrochemicals.
In addition to this, using them rather of petrochemicals is a more economical option. It is anticipated that an increase in the supply of sustainable raw materials in the form of oilseed will have a good impact on the production of fatty alcohols. As a result of this, it is anticipated that vast horizons will be provided for downstream applications, which would ultimately lead to increased market penetration. Fatty alcohols can be found in a variety of oils, the most common of which being palm oil, soybean oil, sunflower oil, safflower oil, rapeseed oil, tall oil, and cattle tallow.
Increasing Demand for Eco-Friendly Solution Boosting the Market for Fatty Alcohols
An increase in customers' awareness of environmental issues is pushing them to purchase products that are less harmful to the environment. These kinds of considerations are pushing chemical firms toward the utilisation of bio-based raw materials in the production of their goods.
In comparison to alternatives based on petrochemicals, fatty alcohols derived from oleo-based feedstock are not only recyclable but also less hazardous to human health, making them the material of choice for the production of cosmetics and other personal care goods. As a result of this trend toward biodegradable and environmentally friendly cosmetic products, the demand for fatty alcohols is expected to continue to increase over the course of the forthcoming period.
It is anticipated that the many applications for fatty alcohols, including textile coatings, mineral processing, home and industrial cleansers, detergents, laundry softeners, and agricultural chemicals, will drive the demand for fatty alcohols to a significant extent. In addition, the growth of the cosmetics and personal care sector is anticipated to be a vital factor in underpinning the global market at a considerable rate during the period of the forecast.
Rising Demand for Surfactants Driving the Market Growth.
It is well acknowledged that the rising demand for surfactants in personal care products such as conditioners, lipsticks, shower gel, and antiperspirant is a crucial factor that has the potential to greatly expand the market over the course of the forthcoming time. It is anticipated that the cost-effectiveness and inherent biodegradability of these products would drive growth in the natural fatty alcohol market over the course of the year under study.
Volatility of Raw Material Prices Impacting the Market Adversely
The fluctuating prices of raw material, which is essential for the production of Fatty Alcohol, are the primary factor that is restraining the market. This is because the production of fatty alcohol is impacted, and as a result, so is the price of fatty alcohol in accordance with the various requirements of the various market segments. Palm oil, rapeseed oil, and PK oil are the three types of oils that are utilised in the manufacturing of fatty alcohol.
Due to the climatic conditions in Asia being more conducive to the production of fatty alcohol, Europe and North America import these raw materials from Asia . The current state of trade between these regions will determine how much these primary commodities will cost. During the time period covered by the projection, the market could be negatively affected by the fluctuating prices.
Increased Cost of Production Remains High Making the Market Less Lucrative for Earning Margins
It is anticipated that the high costs that are involved with the manufacturing process will be a significant element that can function as a barrier to the expansion of the industry during the term under consideration. Demand for natural fatty alcohols is expected to increase during the forecast period due to a number of factors, including volatile prices and stringent regulations imposed by a number of government agencies in response to the negative impact that fatty alcohols derived from petrochemicals have had on the environment.
On the other hand, the volatile pricing of raw materials and stringent regulations imposed by the government are expected to impede the expansion of the market. On the other hand, a surge in demand from developing countries such as Asia-Pacific and LAMEA is anticipated to create lucrative prospects for the market participants in the market.
Increasing Uptake of Liquid Detergent over Powder Detergents Opens an Avenue of Opportunity
The rise in per capita income in emerging economies has resulted in an enhanced standard of living, which in turn has led to a shift in the behaviour of consumers and improvements in their standard of living. The modern consumer is on the lookout for high-quality goods that make their work simpler, much in the same way as liquid detergents make the routine tasks of cleaning and maintaining sanitation in the home more straightforward.
Asia Remains as the Global Leader The Asia-Pacific region emerged as the largest market for the fatty alcohol market in 2021, with a market share of approximately 38% in 2021 and it is anticipated that it would maintain its preeminent position during the period of forecasting. This is the case as a result of a growth in per capita income in growing economies such as India , China , and other Asia countries. This has caused a change in their lifestyle, and as a result, people are looking for quality products that are also easy to use.
Increased Market Fragmentation to Intensify Competition
The global market is extremely fragmented as a result of the presence of a large number of small and medium-sized enterprises that are particularly active in Asia-Pacific and Central and South American countries. Companies such as Ecogreen Oleochemicals and Emery Oleochemicals, as well as BASF, Kuala Lumpur Kepong (KLK), Oleon, Sasol, PT Muslim Mas, and Kao Chemicals, are among the most prominent players in the global market. It is predicted that the ongoing development of the product, along with an increasing number of activities to expand production capacity, would strengthen the competitiveness of the industry during the forecast period.
The increased availability of raw materials in China , Malaysia , and Indonesia , such as soy, rapeseed, and corn, has driven a number of chemical manufacturers to relocate their bases from Europe and North America to Asia Pacific in order to capitalise on investment opportunities there.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Fatty Alcohols market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Fatty Alcohols market?
Which is the largest regional market for Fatty Alcohols market?
What are the market trends and dynamics in emerging markets such as Asia Pacific , Latin America , and Middle East & Africa ?
Which are the key trends driving Fatty Alcohols market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Fatty Alcohols market worldwide?
Key Topics Covered: 1. Preface 2. Executive Summary 3. Fatty Alcohols Market: Business Outlook & Market Dynamics 3.1. Introduction 3.2. Global Fatty Alcohols Market Value, 2020 - 2030, (US$ Million) 3.3. Market Dynamics 3.3.1. Market Drivers 3.3.2. Market Restraints 3.3.3. Key Challenges 3.3.4. Key Opportunities 3.4. Impact Analysis of Drivers and Restraints 3.5. See-Saw Analysis 3.6. Porter's Five Force Model 3.6.1. Supplier Power 3.6.2. Buyer Power 3.6.3. Threat Of Substitutes 3.6.4. Threat Of New Entrants 3.6.5. Competitive Rivalry 3.7. PESTEL Analysis 3.7.1. Political Landscape 3.7.2. Economic Landscape 3.7.3. Technology Landscape 3.7.4. Legal Landscape 3.7.5. Social Landscape 3.8. Heptalysis Analysis 3.9. Critical Investigation of Business Problems Through Five Whys Root Cause Analysis & Relevant Solutions 4. Fatty Alcohols Market: By Product, 2020-2030, USD (Million) 4.1. Market Overview 4.2. Growth & Revenue Analysis: 2021 Versus 2030 4.3. Market Segmentation 4.3.1. C6-C10 Fatty Alcohols 4.3.2. C11-C14 Fatty Alcohols 4.3.3. C15-C22 Fatty Alcohols 5. Fatty Alcohols Market: By Application, 2020-2030, USD (Million) 5.1. Market Overview 5.2. Growth & Revenue Analysis: 2021 Versus 2030 5.3. Market Segmentation 5.3.1. Soaps & Detergents 5.3.2. Personal Care 5.3.3. Lubricants 5.3.4. Amines 5.3.5. Others 6. Fatty Alcohols Market: By Source, 2020-2030, USD (Million) 6.1. Market Overview 6.2. Growth & Revenue Analysis: 2021 Versus 2030 6.3. Market Segmentation 6.3.1. Tropical Oils 6.3.2. Animal Fats 6.3.3. Soft Oils 6.3.4. Others 7. North America Fatty Alcohols Market, 2020-2030, USD (Million) 8. UK and European Union Fatty Alcohols Market, 2020-2030, USD (Million) 9. Asia Pacific Fatty Alcohols Market, 2020-2030, USD (Million) 10. Latin America Fatty Alcohols Market, 2020-2030, USD (Million) 11. Middle East and Africa Fatty Alcohols Market, 2020-2030, USD (Million)
12. Company Profile 12.1. Ecogreen Oleochemicals 12.1.1. Company Overview 12.1.2. Financial Performance 12.1.3. Product Portfolio 12.1.4. Strategic Initiatives 12.2. Emery Oleochemicals 12.2.1. Company Overview 12.2.2. Financial Performance 12.2.3. Product Portfolio 12.2.4. Strategic Initiatives 12.3. BASF 12.3.1. Company Overview 12.3.2. Financial Performance 12.3.3. Product Portfolio 12.3.4. Strategic Initiatives 12.4. Kuala Lumpur Kepong (KLK) 12.4.1. Company Overview 12.4.2. Financial Performance 12.4.3. Product Portfolio 12.4.4. Strategic Initiatives 12.5. Oleon 12.5.1. Company Overview 12.5.2. Financial Performance 12.5.3. Product Portfolio 12.5.4. Strategic Initiatives 12.6. Sasol 12.6.1. Company Overview 12.6.2. Financial Performance 12.6.3. Product Portfolio 12.6.4. Strategic Initiatives 12.7. PT Muslim Mas 12.7.1. Company Overview 12.7.2. Financial Performance 12.7.3. Product Portfolio 12.7.4. Strategic Initiatives 12.8. Kao Chemicals 12.8.1. Company Overview 12.8.2. Financial Performance 12.8.3. Product Portfolio 12.8.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/1r5glt
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