According to Fortune Business Insights the global fatty alcohol market was valued at USD 5.08 billion in 2019 and is expected to reach USD 7.40 billion by 2027, growing at a compound annual growth rate (CAGR) of 5.2% over the forecast period. The global fatty alcohol market is set to gain traction from the rising demand for bio-based products. Hence, manufacturers are shifting towards using eco-friendly ingredients.
What Does This Report Contain?
- Elaborate data about the segments in the market.
- Historical, present, and estimated size of the market.
- Profiles of prominent players and their crucial strategies.
- Elaborate analysis of growth drivers in the market for fatty alcohols.
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Fatty Alcohol Market Segmentation Analysis:
C15-C22 Segment to Exhibit High Growth Fueled by Rising Demand for Cosmetics
Based on the product, the C6-C10 segment generated 17.3% in terms of the fatty alcohol market share in 2019. The C15-C22 segment is expected to showcase high growth backed by its rising demand from the personal care industry. Apart from that, increasing disposable incomes of people are resulting in the high demand for shaving creams, lipsticks, vanishing creams, shampoos, and lotions. It would also augment the growth of this segment.
A list of all the renowned fatty alcohol manufacturers operating in the global market:
- Godrej Industries (India)
- Berg + Schmidt (Germany)
- Wilmar International Ltd (Singapore)
- KLK OLEO (Malaysia)
- SABIC (Saudi Arabia)
- P&G Chemicals (U.S.)
- Musim Mas (Singapore)
- VVF L.L.C. (India)
- Sasol (South Africa)
- Emery Oleochemicals (Malaysia)
- Royal Dutch Shell (Netherlands)
- Univar Solutions Inc. (U.S.)
- BASF SE (Germany)
- Other Players
Fatty Alcohol Market Trends:
- Growing environmental concerns and consumer preference for bio-based products are driving demand for sustainable fatty alcohols.
- Bio-based fatty alcohols, derived from oleochemicals, are less toxic, recyclable, and favored in personal care and pharmaceutical industries.
- Key players like Wilmar International (WILFAROL) and KLK OLEO (PALMEROL) offer palm and vegetable oil-based fatty alcohols.
- Regulatory restrictions (e.g., REACH) on petroleum-based products are further encouraging market growth.
Growth Drivers:
- Rising demand for surfactants in soaps, detergents, agriculture, paper & pulp, and cosmetics.
- Fatty alcohols serve as solubilizing, emulsifying, wetting, and cleaning agents.
- Surge in demand for personal care products like liquid soaps and hand sanitizers, especially post-COVID-19.
Competitive Landscape-
Key Players Aim to Increase Production Capacity of Raw Materials to Intensify Competition
The global market for fatty alcohol is highly fragmented. Reputed manufacturers are aiming to develop unique products by conducting research and development activities. Some of the others are trying to increase their production capacity of raw materials required for the manufacturing of fatty alcohols. Below are the two latest industry developments:
- July 2019: Sasol Ltd., a chemical and energy company headquartered in South Africa opened its new chemical plant in Nanjing, China. It would double the production capacity of alkoxylation to 150,000 tons annually. The total cost was USD 100 million.
- May 2019: Apical Group completed a joint venture with Kao Corporation. The former is a leading exporter of palm oil in Indonesia. This venture resulted in the development of PT Apical Kao Chemical, a new factory that will help in surging the production capacity of oleochemicals and in strengthening its position in Asia Pacific.
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