Albany, New York, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) observes the global fatty alcohols market has a consolidated vendor landscape. Some of the prominent players operating in the fatty alcohols market are Sasol Limited, Musim Mas Holdings, Wilmar International Ltd., VVF LLC, and Kuala Lumpur Kepong Berhad (KLK). These key players are focusing on research and development to come up with differentiated products. Additionally, the players are involving in activities such as partnerships, mergers and acquisitions, and collaborations for expansion of product portfolio and expansion of the business.
A report from TMR estimates the global fatty alcohols market to attain a value of US$5.48 bn by the end of 2023. The market is expected to expand with a CAGR of 5.1% over the forecast period between 2015 and 2023. Based on the type of product, the C11-C14 fatty alcohols are expected to dominate the fatty alcohol market. Based on the region, Asia Pacific is dominating the global fatty alcohols market and is expected to remain dominant over the forecast period.
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Growing Demand for Hygiene and Skin Care Products to Propel Growth of Market
The world fatty alcohols market is gaining traction due to rising demand for cleaning agents, surfactants, and detergents. Surging implantation of fatty alcohols in emulsifiers and production of personal care and hygiene products is boosting demand of the fatty alcohols. Growing demand for the soaps and detergents is likely to fuel the growth of the global fatty alcohol market. Additionally, usage of fatty alcohols in the lubricants, flavors, plasticizers, and fragrances is boosting demand for fatty alcohols and propelling the growth of the global fatty alcohols market.
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Growing awareness about health and hygiene is boosting the adoption of the fatty alcohols mainly from emerging economies such as Brazil, India, China, and Russia is boosting the growth of the global fatty alcohols market. Additionally, growing prices of petroleum and other non-renewable sources is encouraging numerous governments for taking initiatives. In addition, some of the prominent players are initiating some activities for exploring alternatives, which is fuelling demand for fatty alcohols. Uptake of fatty alcohols in numerous end use industries is leading boost growth of the global fatty alcohols market.
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Growing Adoption of Bio-Based Products to Offer Opportunities
However, the unstable prices of raw materials and high production of fatty alcohols are restraining growth of the global fatty alcohols market. Nonetheless, growing sales and adoption of organic personal care products based on natural chemicals in order to reduce the petrochemical dependency and lowering carbon footprint is offering lucrative opportunities for growth over the forecast period.
Furthermore, regulative agencies such as REACH are supporting growth of fatty alcohols market. Growing trend of supporting and investing in these initiatives is propelling growth of the fatty alcohols market.
This information is encompassed in the new report by TMR, titled “Fatty Alcohols (C6-C10, C11-C14, C15-C22 and Others) Market for Detergents & Soaps, Personal Care, Plasticizers, Lubricants, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
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For the study, the fatty alcohols market has been segmented as follows:
By type
- C6-C10
- C11-C14
- C15-C22
- Others
By Applications
- Detergents & Soaps
- Personal Care
- Plasticizers
- Lubricants
- Other
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