Transparency Market Research has released a new market report titled “Fatty Alcohols Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global fatty alcohols market was valued at US$3.52 bn in 2014 and is anticipated to reach US$5.48 bn in 2023, expanding at a CAGR of 5.1% between 2015 and 2023.
Fatty alcohols are aliphatic alcohols that are predominantly linear and monohydric. These can be saturated or have one or more double bonds. Based on the raw materials used, fatty alcohols are chiefly classified as synthetic or natural. Synthetic fatty alcohols are produced from petrochemicals such as olefins and paraffin, while natural fatty alcohols are based on renewable resources such as fats, oils, and waxes of plant or animal origin. Based on carbon chain length, fatty alcohols can be broadly classified into C6-C10, C11-C14, C15-C22 and other fatty alcohols.
Fatty alcohols are primarily employed for applications such as detergents and soaps, personal care and cosmetics, plasticizers, flavors and fragrances, and metal working fluids. Growth in personal care products, and detergents & soaps industries is primarily estimated to drive the global fatty alcohols market in the next few years. However, volatility in prices of raw materials and overproduction of fatty alcohols are projected to hamper market growth during the forecast period. Growing sales of cosmetics and beauty products in BRIC countries is anticipated to offer growth opportunities to the fatty alcohols market from 2015 to 2023.
In terms of volume, C11-C14 fatty alcohols was the largest product segment of the global fatty alcohols market, accounting for more than 50% share in 2014. Broad application of C11-C14 fatty alcohols is the key reason for the dominance of the segment. C11-C14 fatty alcohols is also estimated to be the fastest growing market segment, closely followed by C15-C22 fatty alcohols, during the forecast period, owing to the increasing demand for various applications.
In terms of application, detergents & soaps was the largest segment of the global fatty alcohols market, constituting more than 60% share in 2014. Personal care is projected to be another major application segment between 2015 and 2023. Personal care is likely to be the fastest growing application segment, due to the rising demand for fatty alcohols as emollients and emulsifiers in personal care products.
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Developing regions are expected to dominate the fatty alcohols market in the next few years, owing to rising population and improvement in lifestyle coupled with high disposable income especially in China and India. Asia Pacific is estimated to be the largest market for fatty alcohols, followed by North America, during the forecast period. The fatty alcohols market in Asia Pacific is also likely to witness significant growth, due to increase in demand for personal care products, detergents & soaps, and easy availability of raw materials. The global market for fatty alcohols is expected to expand at a moderate pace in the near future.
The global fatty alcohols market is consolidated. Key players in the fatty alcohols market include Sasol Limited, Royal Dutch Shell plc, Kao Corporation, Kuala Lumpur Kepong Berhad (KLK), Ecogreen Oleochemicals, Procter & Gamble Emery Oleochemicals, VVF L.L.C., Musim Mas Holdings, and Wilmar International Ltd.
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