Global Market Study on Behenyl Alcohol (CAS: 661-19-8): Asia Pacific to Witness Highest Growth by 2021
LONDON, Dec. 31, 2015 /PRNewswire/ -- Behenyl alcohol (CAS: 661-19-8), often referred to as docosanol, is a saturated fatty alcohol used to thicken and stabilise formulations. Behenyl alcohol is categorised on the basis of purity level. Behenyl alcohol with the purity level of 70% is most commonly used. However, behenyl alcohol with purity over 80% is very rarely used. Behenyl alcohol accounted for a mere 1.4% share of the overall fatty alcohols market, and 14% share of the overall C16+ fatty alcohols market in 2014.
This Persistence Market Research (PMR) report examines the 'Behenyl Alcohol Market for the period 2015 - 2021'. The primary objective of the report is to offer updates and information related to market opportunities in the global behenyl alcohol market.
The report analyses the global behenyl alcohol market in terms of market value (US$ Mn) and market volume (metric tons), by end-use segment, region and application; and provides information regarding market dynamics, value chain, competitive landscape, drivers, current trends, market estimations, restraints from supply, demand perspective. and forecast.
Increasing usage of behenyl alcohol in organic cosmetics and pharmaceuticals industry is expected to boost its demand during the forecast period. Europe is the leading producer of rapeseed globally. In terms of volume, the region accounts for more than 35% of global rapeseed production. Major companies based in Europe procure raw materials at comparatively lower price than their competitors from North America and Asia Pacific. Also, the region is home to more than 400+ big and small scale cosmetic manufacturers. Increasing consumption of cosmetics product, especially anti-aging products, is expected to boost demand for behenyl alcohol in Europe. Though market seems optimistic for behenyl alcohol, oversupply of fatty alcohol is seen as a major challenge for the behenyl alcohol market currently.
Additionally, availability of low cost labour and raw materials, and consumer preferences for organic cosmetics are expected to boost overall demand for behenyl alcohol in Asia Pacific. Though behenyl alcohol is gaining traction among the cosmetic manufacturers, its relatively high price compared to other long chain fatty alcohols is proving to be a major hindrance to its overall market growth and consumption. The product is normally used in blended form with other long chain fatty alcohols such as cetyl alcohol and stearyl alcohol. In Latin America, the increase in behenyl alcohol volume production is attributed to growing market size of organic cosmetics in Brazil. Brazil is one of the largest importers of behenyl alcohol from suppliers in Europe and Asia Pacific. Emollients, emulsifiers and thickeners are the key applications wherein behenyl alcohol is used.
Globally, Asia-Pacific is expected to dominate the market throughout the forecast period and is projected to witness a 1.4X increase in its volume production by the end of 2021. While Japan and India are two major exporters of behenyl alcohol chemicals globally, South Korea is one of the key importers of behenyl alcohol in Asia Pacific. In Asia Pacific, India is the largest producer of rapeseed and behenyl alcohol. A Large number of companies based in the country export rapeseed to North America, Europe and other parts of Asia.
Among the end-use segments, behenyl alcohol finds the largest application in the cosmetics industry, followed by pharmaceuticals and others. The pharmaceuticals end-use segment is expected to gain traction in the near future due to increasing demand for behenyl alcohol in ointments. Emollients, emulsifiers and thickeners are the key applications wherein behenyl alcohol is used.
Key market participants covered in the report include BASF SE, Kao Corporation, VVF Chemicals Limited, Godrej Industries Ltd., Sasol Ltd. and Nikko Chemicals Co, Ltd.
The behenyl alcohol market is segmented as follows:
Behenyl Alcohol Market, By ApplicationEmollientsEmulsifiersThickenersOthersBehenyl Alcohol Market, By End-usersCosmeticsPharmaceuticalsNutritional SupplementsBehenyl Alcohol Market, By RegionNorth AmericaLatin AmericaEuropeAsia PacificThe Middle East & Africa
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