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1-Decanol Market Report 2024 - 1-Decanol Market Size, Share And Industry Trends And Forecast
1-Decanol Market
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According to The Business Research Company's, The 1-decanol market size has grown strongly in recent years. It will grow from $0.25 billion in 2023 to $0.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to industrial applications, growth of the chemical manufacturing industry, demand for consumer products, economic growth, increased demand for plasticizers.
The 1-decanol market size is expected to see strong growth in the next few years. It will grow to $0.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to consumer demand for clean beauty, consumer preferences, environmental regulations, supply chain resilience, increasing demand for lubricants. Major trends in the forecast period include bio-based production, technological advancements, circular economy practices, increasing r&d investment, sustainability initiatives.
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Market Drivers and Trends:
Increased demand for personal care and household cleaning products due to COVID-19 impact contributed to the growth of the 1-Decanol market during the period. 1-Decanol is used as a raw material in the manufacturing of soaps, detergents, and other home care products, and as an anti-foam agent. In 2020, due to the COVID-19 outbreak, the usage and awareness of personal care and home care products such as soaps, detergents, and sanitizers have increased so that the spread of the virus can be reduced. According to the World Health Organization, to prevent the infection one should always wash hands regularly with soap and water or clean hands with an alcohol-based hand rub. The increase in usage of personal care products including soap and sanitizers increased the demand for 1-decanol, thereby driving the growth of the 1-decanol market.
Major companies operating in the 1-Decanol market are including 1-decanol (decyl alcohol) for manufacturing beauty products such as Woah to increase their revenue in the market. Woah is a Mini Beauty Box Vegan-Friendly skincare collection, which includes travel-sized products. For instance, in February 2022, Next Retail Ltd a UK-based cloud provider launched a Woah, a travel-sized vegan-friendly beauty box featuring skincare products such as the Dual Action Exfoliator, SPF 30 Lotion, Brightening Toner, Cooling Micellar Water, Multi Vitamin Eye Cream, Detoxifying Mask, and Hydrating Mask, all of which contain decyl alcohol among other ingredients.
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Major Key Players of the Market:
Kuala Lumpur Kepong Berhad, Sasol Limited, Musim Mas Group, Emery Oleochemicals (M) Sdn. Bhd., BASF SE, Ecogreen Oleochemicals Pte. Ltd., Procter & Gamble Chemicals, Berg + Schmidt GmbH & Co. KG, Cremer Oleo GmbH & Co. KG, Global Green Chemicals Public Company Limited, New Japan Chemical Co. Ltd., Central Drug House (P) Ltd - CDH, Chemical Bull Pvt. Ltd., Parchem fine & specialty chemicals, Santa Cruz Biotechnology Inc., Spectrum Chemical Manufacturing Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Sigma-Aldrich Corporation LLC, Alfa Aesar a Johnson Matthey Company, Tokyo Chemical Industry Co. Ltd., Acros Organics B.V.B.A., Arkema Peroxides Pvt. Ltd., Dow Inc., ExxonMobil Chemical Company Inc., Huntsman Corporation, INEOS Group Limited, LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc., Nippon Shokubai Co. Ltd., NOF Corporation, Oxiteno, PetroChina Company Limited, Royal Dutch Shell plc, Saudi Arabia's Basic Industries Corporation, Sinopec, Solvay S.A., Sumitomo Chemical Co. Ltd., The Lubrizol Corporation
1-Decanol Market 2024 Key Insights:
• The 1-decanol market size is expected to see strong growth in the next few years. It will grow to $0.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Covid-19 Pandemic Boosts Demand For 1-Decanol In Personal Care And Household Cleaning Products Market
• Inclusion Of 1-Decanol (Decyl Alcohol) For Manufacturing Beauty Products
• Asia-Pacific was the largest region in the 1-Decanol market in 2023
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