Lauryl Myristyl Alcohol Market Expands Amid Growing Bio-Based Product Demand.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Lauryl Myristyl Alcohol Market- (By Application (Industrial & Domestic Cleaning, Personal Care, Lubricants, Food & Nutrition, Plasticizers, Pharmaceutical Formulation, Others), By Source (Petrochemical, Natural), By Type (Long Chain, Higher Chain, Short-Chain, Mid-Cut Chain)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Lauryl Myristyl Alcohol Market is valued at US$ 7.52 Bn in 2022, and it is expected to reach US$ 10.80 Bn by 2031, with a CAGR of 4.19% during a forecast period of 2023-2031.

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A fatty alcohol with a lower molecular weight that acts as an emulsion stabilizer, thickening, and emollient. Lauryl myristyl alcohol is also used as a surfactant, frequently in combination with other surfactants. When used in cosmetics, lauryl myristyl alcohol is deemed safe. Increasing environmental consciousness, high demand for bio-based products, the increased shelf life of personal care products, and rising per capita income of the growing middle class, particularly in the household & personal care industry, are also expected to drive market growth during the forecast period.

Furthermore, rising government spending on the pharmaceutical sector, a growing population, and changing lifestyles are all contributing to market expansion. Furthermore, advantageous government measures aimed at reducing reliance on petrochemicals, as well as a customer movement towards organic personal care products, are propelling market expansion throughout the forecast period.

List of Prominent Players in the Lauryl Myristyl Alcohol Market:
• VVF LLC
• Lubrizol Corporation
• Croda International Plc.
• Dow Chemical Company
• Eco Green Oleo chemicals
• MSD OLEO FZC
• Wilmar International Ltd.
• Procter & Gamble
• Wall Chemie GmbH
• The Lubrizol Corporation
• Azelis Americas LLC
• PT. Ecogreen Oleochemicals
• BASF Care Creations
• Godrej Industries Limited (Chemicals)
• Others

Market Dynamics:
Drivers-
The increasing customer preference for renewable chemicals, as well as technology improvements, are the market growth drivers. Furthermore, rising disposable income, literacy rates, increased urbanization, and lifestyle changes are propelling market expansion. Furthermore, rising hygiene product demand and rising consumer awareness are likely to drive market expansion over the forecast period. Furthermore, the increasing use of fatty oils as plasticizers and lubricants due to their lower cost and biodegradability compared to their petrochemical equivalents is aiding market expansion throughout the projection period.

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Challenges:
Over the projection period, the market expansion will be hampered by rigorous government regulations governing the production of dangerous chemicals. Moreover, the compound's negative effects, which include caustic ingestion, skin and eye contact irritation, breathing issues, and severe overexposure, are projected to limit market expansion. Furthermore, the volatility of raw material costs and the availability of product replacements are projected to limit market growth throughout the projection period.

Regional Trends:
The North American lauryl Myristyl Alcohol Market is expected to register a major market share in terms of revenue, and it is projected to grow at a high CAGR in the near future. The increasing consumption of the product due to its high stabilizing features of oil-water emulsions, as well as the increasing investment levels by industry players in research and development activities, are key factors favouring the growth of the lauryl myristyl alcohol market in North America. Furthermore, rising merger and acquisition activity among international and regional competitors, as well as rising demand from end-use sectors such as agrochemicals, cosmetics, and pharmaceuticals, are likely to fuel market growth in this area.

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Segmentation of Lauryl Myristyl Alcohol Market-
By Application-
• Industrial & Domestic Cleaning
• Personal Care
• Lubricants
• Food & Nutrition
• Plasticizers
• Pharmaceutical Formulation
• Others
By Source-
• Petrochemical
• Natural
By Type-
• Long Chain
• Higher Chain
• Short-Chain
• Mid-Cut Chain
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.