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. Fatty alcohols are long-chain alcohols with a high molecular weight that are generated from fats and oils. Fatty alcohol chains range in length from three to more than twenty-seven carbon atoms. They can be saturated or unsaturated and can take the form of waxy solids or colourless, oily liquids (for lower carbon numbers). Depending on where they come from, fatty alcohols can be made from either natural or petrochemical sources. Because of their amphipathic character, fatty alcohols behave as non-ionic surfactants. As a result, detergents and surfactants are the primary applications for which fatty alcohols are utilised. The cosmetics, agricultural, textile, food, and pulp & paper sectors all make extensive use of fatty alcohols as co-emulsifiers, emollients, thickeners, and solubilizing agents. Additionally, in the pharmaceutical sector, lotions and ointments utilise alcohol surfactants as a lipophilic solubilizer for the active ingredients. About half of the fatty alcohols that are utilised in commercial applications are derived from natural sources, while the other half are manufactured.
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During the forecast period, the global market for fatty alcohols is anticipated to be driven by positive government activities aimed at reducing reliance on petrochemicals and a trend toward organic personal care products on the part of consumers. It is anticipated that the most significant obstacle for market participants would be the inconsistent supply of essential raw materials along with the price volatility. Technological improvements and an increasing desire among consumers for renewable chemicals are anticipated to generate attractive prospects for market participants. The thriving need for environmentally friendly and biodegradable products as a means of decreasing reliance on petrochemicals will continue to be a primary element driving the fatty alcohols business.
High production costs are expected to hinder the industry’s growth during the forecast period. Due to fluctuating material costs and strict regulations set by government agencies in response to the environmental impact of petrochemical-derived fatty alcohols, demand for natural fatty alcohols is likely to rise over the forecast period. Volatile raw material prices and strict government regulations may hinder the market growth. A surge in demand from Asia-Pacific and LAMEA is expected to provide lucrative chances for market participants. The rise in per capita income in emerging nations has improved the standard of living, which has changed consumer behaviour and improved their standard of life. Modern consumers want high-quality goods that make their work easier like liquid detergents do for cleaning and sanitizing the home. Liquid detergents are easier to use in washing machines, which are growing more ubiquitous in homes; as a result, they are also becoming more common in dishwashers. This will boost fatty alcohol sales.
C11-C14 fatty alcohols accounted for 58% of the overall market in 2021. During the forecast period, demand for C11-C14 alcohol is expected to rise, especially in Asia Pacific. C11-C14 fatty alcohols are used to make sodium laureth ether sulphate (SLES), a shampoo and body wash foaming agent. C15-C22 fatty alcohols are expected to have the highest CAGR during the forecast periodof 2022 to 2030 due to increasing use in lubricant bases and blends as well as moisturisers.
Cosmetics and personal care, detergents and cleansers, lubricants, medicines, plasticizers, food and nutrition, and others use fatty alcohol. Detergents and cleansers contributed 33% of global revenues in 2021. Cosmetics and personal care items would have the highest CAGR of 7.5% from 2022 to 2030. Rapid growth of the cosmetics and personal care industry and increased spending on skincare products, are expected to enhance demand for fatty alcohols over the projected period. The cosmetics and personal care market are predicted to develop the most in Asia-Pacific. This is owing to rising disposable incomes in emerging nations and India’s young population.
Asia-Pacific emerged as the largest fatty alcohol market in 2021, with a 38% market share, and is expected to maintain its preeminent position during the forecast period of 2022 to 2030. This is due to rising per capita income in India, China, and other Asian nations. This has changed people’s lifestyles;therefore, they want excellent, easy-to-use products. In response, high-end cosmetics and detergents have increased in manufacturing. The need for easy-to-use products, such as liquid detergents in washing machines, has increased demand for fatty alcohol. This boosts the cosmetics market, which drives fatty alcohol sales. India has the youngest population. Asia’s top fat and oil producers are Indonesia, China, and Malaysia. This, together with the region’s manufacturing hub for Fatty Alcohol and its derivatives, will boost the market for Fatty Alcohol through 2030. Due to increasing demand for bio-based fatty alcohols used in cosmetics and personal care products, Europe’s fatty alcohol prices rose sharply in the second quarter of 2022 due to rising commodity prices. On the regional market, palm oil prices rose due to Indonesian and Malaysian feed. As palm oil prices rose, so did the cost of making fatty alcohol in Europe. Due to a supply-and-demand imbalance, fatty alcohol prices rose. As Europe’s temperature rose, energy prices remained high. Demand from the personal care and surfactant sectors further increased local demand for fatty alcohol. North America expanded quickly historically and is expected to do so in the future. Current restrictions on detergent chemicals are expected to enhance demand for natural fatty alcohols, boosting regional commerce. These laws should boost regional trade. Due to the rise of cosmetics, personal care, and surfactants, the Middle East and Africa market is expected to grow at a CAGR of 7% during the forecast period.
Small and medium-sized businesses are particularly active in Asia-Pacific and Central and South American countries, fragmenting the global market. Ecogreen Oleochemicals, Emery Oleochemicals, BASF, Kuala Lumpur Kepong (KLK), Oleon, Sasol, PT Muslim Mas, and Kao Chemicals are key market players. Ongoing product development and production capacity expansion are expected to boost industry competitiveness throughout the projection period. The increased availability of raw materials in China, Malaysia, and Indonesia, such as soy, rapeseed, and corn, has led chemical industries to relocate from Europe and North America to Asia Pacific. Large Asian enterprises invest in downstream feedstock capacities to boost profitability and reduce fatty alcohol capacity overhang. These objectives are concurrent. In recent years, these firms have partnered with chemical makers to consolidate Asia Pacific’s position as the world’s largest hub for base fatty alcohols and downstream commodities. The research report reveals tier 1, 2, and 3 market players’ primary, secondary, and tertiary strategies adopted to enhance their market shares.
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