Fatty Alcohols Market | Analysis & Trends 2023
Expected to rise at a CAGR of 5.1% during the aforementioned forecast period, the global fatty alcohols market could reach a valuation of US$5.5 bn by 2023, according to a market intelligence publication penned by TMR. C11-C14 fatty alcohols have been predicted to attract a telling demand and dominate the global fatty alcohols market until the concluding forecast year on account of their broad applications. Increasing population and disposable income of China and India could support Asia Pacific to top the global fatty alcohols market in terms of share.
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Personal Care Sector Ups Demand for C11-C14 and C15-C22 Fatty Alcohols
The world fatty alcohols market has been prophesied to witness a sturdy progress on the back of a mounting usage of personal care ingredients and demand for detergents and other cleaning agents. Personal care products could engage fatty alcohols as emollients and emulsifiers at a surging rate in the coming years. The personal care sector has been anticipated to be key for the growth of products such as C11-C14 fatty alcohols that are chiefly used for producing primary foaming agents such as sodium laureth ether sulphate (SLES). On the other hand, moisturizers and lubricant bases and blending require C15-C22 fatty alcohols during their production.
Besides this, detergents and soaps had accounted for a colossal share in the recent past. Other applications such as fragrances and flavors, plasticizers, and lubricants could also rake in a handsome demand in the world fatty alcohols market. Vendors have been envisaged to leverage the enhanced lifestyle of emerging nations in Asia Pacific that could bring in some bankable prospects of growth in the world fatty alcohols market. Following Asia Pacific, North America has been forecasted to fuel the demand in the world fatty alcohols market while riding on stringent government regulations.
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Market Suffers Downslide with Toggling Prices of Raw Materials
The authors of the publication have foretold the international fatty alcohols market to be negatively affected by the excess production of fatty alcohols and volatile nature of raw material prices. Nonetheless, manufacturers could be advantaged by generous growth opportunities that have been projected to flesh out with the snowballing sale of beauty products and cosmetics in BRIC nations. Furthermore, technological developments coupled with an elevating consumer preference for renewable chemicals and organic personal care products have been envisioned to bode well for the growth of the international fatty alcohols market. Vendors could be pampered with more favorable prospects due to the shift in consumer preference toward bio-ingredient-based products and high global demand for hygiene products.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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