Fatty Alcohol Market is anticipated to grow at a significant rate with a healthy CAGR of 4.60% until 2030
According to ChemAnalyst report, “Fatty Alcohol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Fatty Alcohol market witnessed a demand of around 3.6 million tons globally in 2020 and is anticipated to grow at a significant rate with a healthy CAGR of 4.60% until 2030 attributed to its surging demand in the production of detergents and surfactants coupled with its utilization in personal care & cosmetics sector.
Fatty alcohols are high molecular weight and long chain alcohols, consisting of a carbon chain with varying carbon atoms ranging from 3-27 and derived from fats and oils. They are saturated or unsaturated, branched or unbranched, colorless, oily liquids or waxy solid (depending upon the carbon chain length, branching and saturation). On the basis of the source from which Fatty Alcohols are being derived, their market is segmented into two types i.e., natural source and petrochemical source.
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Fatty Alcohols owing to their amphipathic nature, act as non-ionic surfactants and hence, are mainly employed in the production of surfactants and detergents. Fatty alcohol has wide range applications in Personal Care & Cosmetics, Lubricants, Food, Household and Industrial Cleaning, Agriculture, Oil and Gas, Textile, Plasticizers, Automotive, and Pulp & Paper industries as solubilizing agent, co emulsifier, emollient, as well as thickener. Additionally, in pharmaceutical industry, alcohol surfactants are used as lipophilic solubilizer for lotions & ointments. Fatty Alcohol derived from natural sources such as palm oil, canola oil, soya oil or other vegetable oils is in demand prominently because of the changing consumer preferences as well as price stability and surplus availability of biobased feedstock. Based on the major applications of Fatty Alcohol, its market is segmented into Surfactants, Pharmaceuticals, Personal care & Cosmetics, Lubricants, Agrochemicals, Food and Others.
The unprecedented outbreak of COVID-19 in the first half of 2020, across the globe led to the imposition of nationwide lockdowns by the major economies. It resulted into the disruption in the functioning of several manufacturing plants as well as the interruption in the supply and demand chain which consequently impacted most of the industries. Fatty Alcohol market was also shaken in the first wave of COVID-19, because of the shortage in the raw material due to trade restrictions coupled with the slowdown in the manufacturing of end products derived from Fatty Alcohols. However, there was not much effect of pandemic on overall Fatty alcohol industry there was a surge in the demand of Fatty alcohol due to its prominent use as a surfactant and in detergents, liquid cleaners due to rising hygiene concerns amid pandemics. Additionally, there was the constant demand from Pharmaceutical and Agrochemical industry despite the pandemic.
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Moreover, after the exemption of trade restriction and resumption in industrial operations in the second half of 2020, Fatty Alcohol market was recovered rapidly due to high demand from end use industries and is expected to swell the demand for Fatty Alcohol in the forthcoming years.
Region wise, Asia Pacific accounted for the maximum share of Fatty Alcohol market and is expected to propel at a significant pace through 2030 owing to urbanization, rapid industrialization, coupled with the presence of manufacturing hub of products that consumes Fatty Alcohols and a huge consumer base in the region. Moreover, the rising demand of oleo-based Fatty Alcohol in cosmetics and personal care sector is likely to enhance the demand of Fatty Alcohol in APAC. Additionally, Indonesia, China, Malaysia are the leading producers of Fatty Alcohol feedstock globally. In Asia Pacific, China, India, Bangladesh are the leading Textile manufacturers therefore, surging demand of Fatty Alcohol derivative Fatty Alcohol Ethoxylates from Textile industry as an emulsifying and wetting agent along with its use in dye leveling is likely to fuel the market in the forecast period.
North America market for Fatty Alcohol is projected to grow significantly in the upcoming years due to the surging demand for liquid detergents and soaps amid covid and the presence of petrochemical sources as raw materials (Shale Gas) in abundance and several end use industries.
Additionally, Fatty Alcohol market in Europe is also expected to show a promising growth owing to the large consumer base for cosmetics and personal care and increment in its consumption for biobased cosmetic and personal care industry.
According to ChemAnalyst report, “Fatty Alcohol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Fatty Alcohol globally include Wilmar International Ltd., Emery Oleochemicals, Godrej Industries Limited, Procter & Gamble, SASOL, Air Liquide, ASF SE, P&G Chemicals Ltd., Ecogreen Oleochemical, Croda International Plc., Eastman Chemical Company and Arkema SA.
“Fatty Alcohol finds applications in various end use industries and among all surfactants and detergents holds the major demand share of the Fatty Alcohol market globally and is anticipated to drive the market for Fatty Alcohol in the upcoming years. There are various Grades of Fatty Alcohols depending upon the length of carbon chain present such as Lauryl Alcohol, Cetostearyl Alcohol, Cetyl Alcohol and Stearyl Alcohol. These are extensively used in various end use industries like Lauryl Alcohol is used as a wetting agent (for reducing surface tension in liquids) or as an emulsifier (in Paints and Coatings) as well as in Personal care and Cosmetics. While Cetostearyl alcohol is used as an opacifying agent, surfactant, viscosity increasing agent, emulsion stabilizer in Pharmaceutical and Cosmetics industry (in moisturizers, lotions, and creams as a binding agent). Further Cetyl Alcohol is used as an ingredient in cosmetic, perfume, resins and lubricants as an emollient, thickener and emulsifier and Stearyl Alcohol is used prominently in skin care products due to its ability to soften and soothe the skin, as it acts as skin barrier that seals moisture in the skin. Hence, the growing demand of all these grades from several industries would offer lucrative growth opportunities in Global Fatty Alcohol market. Due to rising environmental concerns, leading Fatty Alcohol manufacturers are aiming to shift from petrochemical driven Fatty Alcohol to bio-based Fatty Alcohol to reduce carbon footprint would extend potential prospects for the expansion of Fatty Alcohol market size in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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