The Global Fatty Alcohols Market is forecast to reach USD 7,815.4 Million by 2028, according to a new report by Reports and Data. Global Fatty Alcoholss can be defined as, usually, straight-chain, high-molecular-weight, primary alcohols. However, these alcohols can range from as less as 4–6 carbons to as many as 22–26 carbons, which are usually derived from natural oils and fats. There are various advantages associated with these alcohols, which are contributing to the growth of the market. In this regard, one of its mentionable feature is unusual surface-active properties, due to which, this product witnessed sizable consumption along with extensive commercial use in synthetic detergents. Two of the commercially used methods for reduction associated with manufacturing these alcohols are hydrogenolysis of either fatty acids or fats and sodium reaction. These two processes of reduction provide different products, which is dependent on the starting raw materials.
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Leading Market Competitors:
AkzoNobel, BASF, Cargill, Emery Oleochemicals, Solazyme, Wilmar International, Archer Daniels, Midland, Evonik Industries, China Sanjiang Fine Chemicals, and Kao Chemicals.
Further key findings from the report suggest:
In context to Product, the C11-C14 Global Fatty Alcoholss segment generated the highest revenue of USD 2.76 Billion in the year 2018, with a growth rate of 4.8% during the forecast period. The applicability of the product in the synthesis of surfactants and increasing demand for laundry detergents, and dishwashing detergents contributes to the revenue generated by the C11-C14 Global Fatty Alcoholss segment.
In context to Raw Material Sources, the Natural Sources segment is leading the market that generated a higher revenue of USD 2.91 Billion in 2018 with a faster growth rate of 5.3% during the forecast period. The easy availability of the raw materials from the natural sources and the rising demand for bio-based products among consumers are some of the factors contributing to the revenue and growth rate witnessed by the Natural Sources segment. Some of the mentionable naturally available raw materials frequently used by manufacturers of this alcohol are various vegetable oils like coconut and mustard oil.
In context to Application, the Soaps & detergents segment is dominating the market occupying 0% of the market in 2018, with a CAGR of 4.8% during the forecast period. Particular advantages of these alcohols like being neutral, significant washing power, and resistance towards substances that may cause hardness of the water have resulted in the replacement of fatty acids with Global Fatty Alcoholss for manufacturing soaps and detergents, which contributes to the market share occupied by the segment.
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Growth Prospects:
The packaging sector has been attempting to gain momentum in the past couple of years on the back of the massive boom of the e-commerce industry. The market growth will be credited to the e-commerce transport and shipment, personal care, household, food and beverage, and healthcare sectors for convenience packaging.
These aspects have pushed leading players to dedicate their resources towards new packaging designs or to reinvent existing packaging designs to accommodate higher convenience and manageability, which will drive the global Global Fatty Alcoholss market growth. The vintage packaging sector is also experiencing high demand, and even though it targets a limited consumer base, it is expected to grow at a rapid pace in the coming years.
Key market trends:
The increasing prevalence of biodegradable plastics promises to be a popular trend dominating the industry in the forecast years. The growing environmental awareness and the stringent government-imposed regulations for governing the consumption of plastics are pushing the overall industry towards the use of biodegradable packaging.
Another major packaging market trend that is speedily gaining momentum is the introduction of innovative lightweight glass packaging aimed at improving end-user usability and waste reduction. These packaging designs offer recyclability, easy transportability, and cost-effectiveness, which has urged manufacturers to produce water-resistant and eco-friendly corrugated box packaging solutions.
Another significant packaging market trend quickly gaining momentum is the development of new lightweight glass packaging to improve end-user usability and reduce wastage. These packaging designs are recyclable, economical, and easy-to-transport, urging manufacturers to produce water-resistant, eco-friendly, and smart corrugated packaging technology.
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Global Global Fatty Alcoholsss Market Segmentation:
Based on Product Type:
C15-C22 Global Fatty Alcoholsss
C11-C14 Global Fatty Alcoholsss
C6-C10 Global Fatty Alcoholsss
Based on Application:
Personal care
Soaps & detergents
Amines
Lubricants
Others
Regional Analysis covers:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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