Press release
1-Tetradecanol Market Value Share, Analysis and Segments 2016-2024
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1-Tetradecanol is used as an ingredient in cosmetics such as cold creams. It is an active intermediate in chemical synthesis of sulfated alcohol. It is also employed in the fabrication of temperature-regulated drug release system based on phase-change materials. 1-Tetradecanol plays a vital role in filling the hollow interiors of gold nanocages in the fabrication of new theranostic systems, which possess unique feature of photoacoustic imaging.
Demand for 1-Tetradecanol is anticipated to increase due to the growth in end-user industries such as cosmetics and surfactants. Additionally, rise in consumption of edible oils in emerging economies of Asia Pacific and Latin America is expected to boost the demand for 1-Tetradecanol. However, availability of substitutes and fluctuation in prices of raw materials may hamper market growth.
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Asia Pacific is projected to be the major market for 1-Tetradecanol, followed by North America and Europe, in the next few years. China and India are likely to be the prominent consumers of 1-Tetradecanol in Asia Pacific due to presence of established end-user industries in these countries. Republic of Korea, Japan, Vietnam, Malaysia, Cambodia, Australia, New Zealand, and Sri Lanka are estimated to be the other major consumers of 1-Tetradecanol in Asia Pacific. The 1-Tetradecanol market in North America and Europe is anticipated to expand at a moderate pace as compared to that in Asia Pacific due to market saturation.
Large and medium chemical and pharmaceutical manufacturing companies dominate the 1-Tetradecanol market. Key players operating in this market include Guangzhou Sariya Biotech Co., Ltd. (China), Beijing Herbal Health Biotech Ltd (China), Jinan Felicity Biotechnology Co., Ltd.(China), Brenstem Biosciences (India), Capsulution NanoScience AG (Germany), Medtronic (Ireland), GB Biosciences Corporation (U.S.), Leonardo Biosystems Inc (U.S.), RJS Biologics Inc (U.S.), Novosom Verwaltungs GmbH (Germany), and NanoLab Inc (U.S., Triveni Interchem Pvt Ltd.(India), Sigma-Aldrich (U.S.), Alfa Aesar (U.S.), and The Good Scents Company (U.S.).
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Companies are adopting aggressive marketing tactics and merger and acquisition strategies to expand their market share. They are also shifting their production facilities to emerging economies of Asia Pacific and Latin America due to the easy availability of land, cheap labor, and governmental subsidies in these regions. Additionally, companies are using export as a tool for geographic expansion in emerging economies of Middle East & Africa.
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