The Global Fatty Alcohol Market is anticipated to grow at 5.10% CAGR and estimated to be worth USD 7.35 Billion by the end of 2030.
Fatty alcohols find wide usage in foods, plasticizers, cosmetics, and personal care products, lubricants, and pharmaceuticals. The increasing application of fatty acids in various end- user sectors is anticipated to uphold the fatty alcohol industry during the forecast period.
The increasing demand for surfactants is estimated to boost the growth of the universal fatty alcohol market as the surfactants are formed from fatty alcohol. The expanding use of detergents and cleansers in various industries, along with households, is further evaluated to boost the market growth. Increasing trend of using cosmetics is another agent anticipated to fuel the market growth, as fatty alcohols are utilized as emulsifying agents in lotions and different products.
The market is likely to augment significantly during the forecast tenure due to its rising application in various end- use industries. Likewise, the surging requirement for plant-based products is expected to be another salient cause that can notably grow the natural fatty alcohols market in the upcoming period.
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Regional Analysis
The global Fatty Alcohol Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific region arose as the largest market for the fatty alcohol market. The developing nations similar as India, China, Japan, and others are stood out to make the most significant contribution in strengthening the regional market during the forecast timeframe. Asia- Pacific was honored as the most lucrative market for fatty alcohols in 2017, and it has been estimated that the region will exhibit a CAGR of 7.29%. Asia- Pacific not only is the largest consumer but also the largest producer of fatty alcohols and holds for over half of the universal production.
The European market is anticipated to develop the second most significant market stake and is likely to witness a CAGR of 6.07% during the estimate timeframe. The prevailing strict regulations regarding the application of chemicals in detergents are likely to affect in the surged need for natural fatty alcohols, which is anticipated to strengthen the regional craft.
The market in the North America region is evaluated to witness significant growth over the predicting period owing to the increasing demand for fatty alcohol by the pharmaceutical industries, along with the increasing public awareness for personal cleanliness and hygiene. Likewise, arising disposable income of the public is also estimated to give growth opportunities for the market in the region.
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Market Segmentation
The universal Fatty Alcohol Market is segmented based on listed below:
By Type:-
By Chain Type:-
By Application:-
Key Players
The Global Fatty Alcohol Market key players are VVF LLC (India), Ecogreen Oleochemicals (Singapore), KLK Oleo (Malaysia), Kao Corporation (Japan), Univar Inc. (US), Sasol Limited (South Africa), Royal Dutch Shell Plc (The Netherlands), Berg+ Schmidt GmbH & Co. KG (Germany), Emery Oleochemicals (Malaysia), BASF SE (Germany), P & G Chemicals (US), Wilmar International Ltd (Singapore), Arkema SA (France), Godrej Industries Ltd (India)
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