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Global Isostearyl Alcohol Market Anticipated to Increase at a CAGR of 3.2% By 2024
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A rising demand for isostearyl alcohol as an ingredient in personal care products and cosmetics is expected to boost growth of the isostearyl alcohol market over the forecast period. However, increasing demand for multifunctional personal care ingredients and development of natural ingredients for anti-aging skin care products are major challenges likely to affect the global isostearyl alcohol market. Isostearyl alcohol is basically derived from isostearic acid and globally, 16%–18% of isostearic acid produced is captively consumed for production of isostearyl alcohol. However, isostearic acid producers are moving towards development of environmentally friendly emollients and surfactants, which could reduce the percentage of conversion of isostearyl acid into isostearyl alcohol over the forecast period. The report focuses on the key drivers and trends likely to impact the global isostearyl alcohol market over the forecast period.
The global isostearyl alcohol market is segmented on the basis of application, end use, and region. On the basis of application, the emollient and solvent segments collectively accounted for 49.5% share of global consumption of isostearyl alcohol in 2015 and are expected to exhibit CAGRs of 3.9% and 3.5% respectively over the forecast period. The glossing agent and dispersing agent segments collectively accounted for 28.0% share of global consumption of isostearic alcohol in 2015 and are expected to exhibit CAGRs of 4.4% and 3.9% respectively over the forecast period. On the basis of end use, personal care is currently the most prominent segment in this market in terms of volume while the cosmetics segment is expected to gain traction over the forecast period due to a rising demand for anti-aging products. Increasing per capita consumer expenditure on personal care and cosmetics products and a growing demand for skin care products in the Asia Pacific geography especially in China are some of the factors driving demand for anti-aging products, in turn anticipated to boost growth of the isostearyl alcohol market.
By region, the market is segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The Europe and North America markets collectively accounted for 57.5% share of global consumption of isostearyl alcohol in 2015 and are expected to exhibit CAGRs of 3.0% and 2.5% respectively over the forecast period. Asia Pacific accounted for 22.4% share of global consumption of isostearyl alcohol in 2015 and is expected to exhibit a CAGR of 4.2% over the forecast period to account for 24.0% share by the end of 2024. Latin America accounted for 15.2% share of global consumption of isostearyl alcohol in 2015 and is expected to exhibit a CAGR of 3.7% over the forecast period to account for 15.9% share by the end of 2024.
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Croda International Plc., Oleon N.V (Avril Group), Jarchem Industries Inc., and Nissan Chemicals America Corporation are the top producers of isostearyl alcohol. While isostearic acid is the basic raw material for the production of isostearyl alcohol, most producers are shifting their production to other isostearic acid derivatives due to the monotonic properties of isostearyl alcohol as compared to other fatty alcohols.
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