Fatty Alcohol Market will surpass USD 8.49 Billion by 2029; Rising Shift towards Eco-friendly Ingredients to Boosting Growth, Says Exactitude Consultancy

The Asia Pacific region emerged as the largest market for the fatty alcohol market and is expected to continue its dominance in the forecasting period as a result if increase in demand for liquid detergent and cleaners.

PUNE, India, May 22, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fatty Alcohol Market.

The global fatty alcohols market is expected to grow at 5.60% CAGR from 2023 to 2029. It is expected to reach above USD 8.49 Billion by 2029 from USD 5.20 Billion in 2022.

Fatty alcohols are high-molecular-weight, long-chain alcohols made from fats and oils with three to 27 carbon atoms. They can be saturated or unsaturated liquids, waxy solids, or colourless oily liquids (for lower carbon numbers). Depending on their source, fatty alcohols might be natural or petrochemical. Fatty alcohols are utilised to make detergents and non-ionic surfactants because they are amphipathic. Fatty alcohols are utilised as co-emulsifiers, emollients, thickeners, and solubilizers in pulp and paper, cosmetics, agriculture, and other industries. Pharmaceutical lotions use alcohol surfactants as lipophilic solubilizers.

The increasing preference for Bio-Based products among consumers, the elevating penetration in surfactant-based industries, and the rising demand for personal hygiene products in developing nations have resulted in boosting the Fatty Alcohols market.

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Industry Development:

• November 2022: Sinarmas CEPSA, a 50:50 joint venture between Spanish CEPSA and Indonesian conglomerate Sinar Mas, signed a Memorandum of Understanding (MoU) with Singaporean palm oil producer Golden Agri-Resources, a subsidiary of Sinar Mas to expand its bio-based chemicals production. The company is enhancing its global presence and growing the global demand for fatty acids and natural alcohols in home and personal care products, as well as increasing demand for sustainable, bio-based solutions across a variety of industries it serves.
• September 2022: Godrej & Boyce partnered with Pando, the market leader in supply chain technology, to digitally transform their logistics & fulfillment operations to contribute to their sustainability goals. In continuation with their sustainability initiatives, Godrej & Boyce is embarking on a drive to reduce carbon footprint across fulfillment operations by optimizing their logistics, vehicle utilization, and emissions and decisively moving towards a paperless supply chain.
• 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.

Asia Pacific is predicted to hold the 46% market share.

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 favourable 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 increased demand for fatty alcohols in the home and personal care industries is a significant driver of market growth in the fatty alcohols industry.

The rising demand for fatty alcohols in the home and personal care industries is a major driver of market expansion. Fatty alcohols are used as raw materials in the manufacture of a variety of personal care products, including shampoos, conditioners, moisturisers, and others. They have several properties that make them suitable for use in a variety of products, including emulsification, thickening, moisturising, and mildness. Another significant driver of market expansion is the growing demand for natural and sustainable personal care products. Consumers are becoming more conscious of the products they use, and they are looking for eco-friendly, sustainable, and natural-source products. Fatty alcohols are derived from natural sources such as vegetable oils and have a number of advantages such as biodegradability, low toxicity, and renewability, making them an excellent choice for natural and sustainable personal care products.

Demand for bio-based and renewable resource-based products is increasing, creating new opportunities for the fatty alcohols market.

The growing demand for bio-based and renewable resource-based products has opened up new markets for fatty alcohols. Because fatty alcohols are derived from natural sources such as coconut oil, palm kernel oil, and rapeseed oil, they are an appealing option for manufacturers looking to create environmentally friendly products. Fatty alcohols are found in a variety of industries, including personal care, pharmaceuticals, and household goods. As consumers become more environmentally conscious, there is a greater demand for products made from renewable resources. As more companies look to incorporate sustainable materials into their products, this trend is expected to drive the growth of the fatty alcohols market.

Report coverage & details:

Fatty Alcohols Market Key Players

The fatty alcohols market key players include

• BASF
• Univar Inc
• KLK Oleo
• VVF LLC
• P & G Chemicals
• Ecogreen Oleochemicals
• Kao Corporation
• Sasol Limited
• Royal Dutch Shell Plc
• Arkema SA

For corporate expansion, these key leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Moreover, these participants are substantially spending on product development, which is fueling revenue generation.

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Key Market Segments: Fatty Alcohols Market

Fatty Alcohols Market By Type, 2020-2029, (USD Billion), (Kilotons)

• Short Chain
• Pure And Mid Cut
• Long Chain
• Higher Chain

Fatty Alcohols Market By Application, 2020-2029, (USD Billion), (Kilotons)

• Soaps & Detergents
• Personal Care
• Lubricants
• Amines

Industry Dynamics:

Fatty Alcohol Market: Growth Drivers

Increasing Demand for Surfactants to Propel Market Growth.

Surfactants, such as soaps and detergents, are in high demand. Fatty alcohol-based surfactants are used in a variety of industries, including paper and pulp, cosmetics, and agriculture. They function as wetting and cleaning agents, as well as solubilizers and emulsifiers. Because of these characteristics, fatty alcohols are expected to be in high demand. Furthermore, rising demand for personal care items such as liquid soaps and hand sanitizers to combat the spread of COVID-19 is expected to fuel the global fatty alcohols market expansion.

Fatty Alcohol Market: Restraints

Fluctuating Prices of Raw Materials to Hamper Growth.

Fatty alcohols are made from raw materials such as tallow, palm oil, rapeseed oil, and others. Malaysia and Indonesia are major producers of these raw minerals in the Asia Pacific region. Other regions, such as North America and Europe, get their raw materials from Asian countries. As a result, changes in raw material prices are influenced by trading conditions in these regions. Recent restrictions on the import of refined palm oil into India will further stifle market growth.

Fatty Alcohol Market: Opportunities

Increase in demand for bio-based and renewable resources-based products.

Consumer preferences have been seen to drive demand for bio-based chemicals. Over the last ten years, there has been a rapid increase in consumer awareness of the harmful environmental effects of petroleum-based products. Because of rising environmental concerns, consumers are being encouraged to use eco-friendly products. These factors are compelling chemical manufacturers to use bio-based raw materials in their products. Oleo-based fatty alcohols are less harmful to the environment than their traditional petroleum-based counterparts. They are selected to manufacture the ingredients for personal care products.

Fatty Alcohol Market: Challenges

Fluctuating raw material prices.

The primary raw materials utilized in the production of fatty alcohol are, among others, rapeseed oil, PK oil, palm oil, and PK oil. Because of APAC's favourable geographic circumstances for the development of raw materials for fatty alcohols, these raw materials are imported into regions such as North America and Europe. Prices may thus fluctuate frequently depending on the nature of the trade between these locations. Palm oil prices fell sharply in 2022 as a result of the global COVID-19 outbreak. Palm oil production has been significantly reduced as a result of the disruption in the global supply chain and the state of lockdown in many Asian countries. Indonesia's palm oil exports fell 12% to 2.54 million tonnes in February 2022 from the prior month.

Detailed Table of Content:

• Introduction
• Research Scope
• Market SegHouseholdtation
• Research Methodology
• Definitions and Assumptions
• Executive Summary
• Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Emerging Trends
• Key Insights
• Key Market Trends in the Global Market
• Key Developments: Mergers, Acquisition, Partnership, etc.
• Latest Technological Advancement
• Insights on Regulatory Scenario
• Porters Five Forces Analysis
• Price Trend Analysis
• Qualitative Insights Impact of COVID 19 on Global Fatty Alcohol Market
• Supply Chain Challenges
• Steps taken by Government/Companies to overcome this impact
• Potential opportunities due to COVID-19 outbreak
• Global Fatty Alcohol Market Analysis, Insights and Forecast, 2023-2029
• Key Findings / Summary
• Market Size Estimates and Forecast
• By Type
• Short Chain
• Pure And Mid Cut
• Long Chain
• Higher Chain
• By Application
• Soaps & Detergents
• Personal Care
• Lubricants
• Amines
• Others
• By Region (Value)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

TOC Continued…!

Key Questions Answered

• What are the key global market and the regional market share?
• What is the revenue-generating key market segments?
• What are the key factors driving and challenging this market's growth?
• Who are the key market vendors and their growth strategies?
• What are the latest trends influencing the growth of this market?
• What are the variables influencing the market growth in the primary regions?
• What are the factors influencing the growth of the parent market?

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