Fatty Alcohol Market Size, Industry Analysis Report, Regional Outlook, Downstream Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI220
Global fatty alcohol market value will expand over 2021-2027 with strong demand from personal care, industrial & domestic cleaning applications. Increased demand for surfactants in personal care products will augment the demand for the compounds. Fatty alcohols form the basic building blocks of shampoos, soaps and cosmetic products.
The personal care industry will be a major consumer of fatty alcohols over the next few years. Chemical manufacturers are likely to show traction toward eco-friendly ingredients, such as oleo-based fatty alcohols. These compounds reduce respirational problems, are recyclable and less toxic. Escalating environmental concerns and heightened awareness towards the use of bio-based products will propel the footholds of fatty alcohols in the personal care application portfolio.
The fatty alcohol market share from soaps & detergents application will grow at a notable rate over the coming years. Notably, fatty alcohol ethoxylates are prevalently consumed in detergents for industrial and domestic applications. Surfactants will be highly sought-after in soaps and detergents for shampoos, dishwashing and laundering, partly attributed to their non-ionic and amphipathic features.
C11-C14 product segment is expected to grow at a notable rate up to 2027 with the rising prominence of sodium laureth ether sulphate (SLES). The product will gain significance in body wash and shampoo as a major foaming agent. Soaring demand for shampoos and body wash will augur well for the fatty alcohol market penetration of C11-C14 fatty alcohols.
Based on regional demand, Asia Pacific value will grow at a considerable rate during the assessment period 2021-2027. Industry players are investing in cosmetics, industrial solvents, detergents and surfactants applications. Notably, emerging economies such as China and India will experience a jump in demand for personal care products, including soaps and hand sanitizers. The use of fatty alcohol as an emollient, foam controller and the antistatic agent will stimulate the fatty alcohol market growth.
North America is poised to be a promising region for fatty alcohol industry players. Bio-based products are likely to gain ground in the U.S., Canada and Mexico on account of rigorous government regulations and heightened awareness. Besides, fatty alcohol-based products will find increased applications in the cosmetics and food industries as emollients, co-emulsifiers and thickeners, boosting North America fatty alcohol market forecast.
Key players in fatty alcohol industry are Eastman Chemical Company, BASF SE, Kao Chemicals, Oleon, Ecogreen, Croda International, Sasol, Kuala Lumpur Kepong and Emery, among others. The competitive scenario indicates an inclination towards R&D, innovations, mergers and expanding production capacity to sustain market share.
COVID-19 impact on fatty alcohol market share
Changes in the prices of palm oil have a considerable influence on the industry outlook, as the ingredient is used in the production of fatty alcohols. Notably, fluctuating prices of raw materials will impact the market forecast. On the other hand, increased demand for personal care products will sustain the fatty alcohol market size to some extent. Demand for soaps and detergents is expected to soar in 2021 and beyond.
The significant drop in manufacturing activities due to lockdown restrictions and supply chain disruptions have influenced fatty alcohol industry trends. Slowdown in the production of chemicals, lubricants, plasticizers as well as lower consumption of industrial cleaners could have a negative short-term impact on the product demand. A favorable outlook can be expected once COVID-19 related restrictions are lifted, boosting global industrial output.
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