Fatty Alcohol Market to Reach USD 7.40 Billion by 2027; Rising Demand for Sustainable & Biodegradable Cosmetics to Accelerate Growth

The global fatty alcohol market size is projected to reach USD 7.40 billion by 2027. The high demand for biodegradable and sustainable cosmetic products worldwide is observed as a prominent market trend and is set to augment growth. Besides, the rising awareness regarding the significance of personal hygiene and sanitation will drive the market. Fortune Business Insights™ published this information in a new study, titled, “Fatty Alcohol Market Size, Share & COVID-19 Impact Analysis, By Product (C6-C10, C11-C14, and C15-C22), By Application (Soaps & Detergents, Personal Care, Lubricants, Amines, and Others) and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 5.08 billion in 2019. It is set to exhibit a CAGR of 5.2% during the forecast period between 2020 to 2027.

Royal Dutch Shell Opens New Plant in Louisiana to Surge Production Capacity

In June 2017, Royal Dutch Shell, a multinational oil and gas company headquartered in the Netherlands, invested to broaden its low-cut and mid-cut fatty alcohol capacity at its plant in Louisiana, the U.S. to meet the increased demand for plasticizer and surfactant alcohols. It is planning to commence the production of incremental alcohol in its linear alpha olefins (LAO) unit. Surging the production capacity of fatty alcohol will aid Shell in adapting to changing scenarios of the market by using both internal olefin feedstocks and mid-cut linear alpha-olefin.

According to a company official, “The expansion will surge its capacity to 1.3 million tons per year. This will make it the largest alpha olefins production site worldwide.”

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/fatty-alcohols-market-102900

Rising Demand for Hand Sanitizers & Liquid Soaps amid COVID-19 to Spur Market Growth

Fatty alcohols can be used as cleaning & wetting agents, as well as emulsifying & solubilizing agents in various industries, such as cosmetics, paper & pulp, and agriculture. Also, the emergence of the COVID-19 pandemic has resulted in the increasing demand for hand sanitizers and liquid soaps to prevent transmission. These factors are expected to drive the fatty alcohol market growth in the near future.

Apart from that, regulatory bodies of several countries are imposing stringent laws and regulations to lower the environmental effects associated with the use of petroleum-based products. It would also drive growth. However, in developing countries, such as India, newly deployed restrictions on the import of refined palm oil may hinder growth.

Key Players Focus on Opening New Facilities to Increase Production

The market is highly fragmented with the presence of numerous companies. They are mainly aiming to boost their production capacities by developing new facilities across the globe. This way, they will be able to cater to the growing demand from various industries.

Fortune Business Insights™ presents a list of all the fatty alcohol manufacturers operating in the global market. They are as follows:

• Godrej Industries (India)
• Berg + Schmidt (Germany)
• Wilmar International Ltd (Singapore)
• KLK OLEO (Malaysia)
• SABIC (Saudi Arabia)
• P&G Chemicals (U.S.)
• Musim Mas (Singapore)
• VVF L.L.C. (India)
• Sasol (South Africa)
• Emery Oleochemicals (Malaysia)
• Royal Dutch Shell (Netherlands)
• Univar Solutions Inc. (U.S.)
• BASF SE (Germany)
• Other Players

A Noteworthy Industry Development-

• March 2018: Musim Mas broadened its fatty alcohol production capacity to 150 KT per annum by opening a new plant in Batam, Indonesia.

Further Report Findings

• Based on the product segment, the C6-C10 segment generated 17.0% in terms of China’s fatty alcohol market share in 2019.
• The C11-C14 segment was in the leading position in 2019 because of the extensive usage of fatty alcohol in the detergents and soaps industries, as per our market research analysis.
• In 2019, Asia Pacific stood at USD 1.47 billion owing to the major contributions of China as it is considered to be a notable hub for various soaps and detergent manufacturers.
• The Middle East & Africa and Latin America are expected to experience high demand for fatty alcohol backed by the presence of numerous lubricant manufacturing companies in both regions.

The global market for fatty alcohol can be segmented in the following way: