1-Tetradecanol Market to observe high growth by 2024
1-Tetradecanol, also known as myristyl alcohol, is a straight-chain saturated fatty alcohol. It is a white transparent solid that is virtually insoluble in water. It is soluble in diethyl ether and marginally soluble in ethanol. 1-Tetradecanol can be manufactured by the hydrogenation of myristic acid (or its esters); myristic acid can be found in nutmeg (from where it gains its name). It is also present in coconut oil and palm kernel oil. Majority of 1-tetradecanol is produced from these oils. It may also be produced from petrochemical feedstock via either the Ziegler process or hydroformylation. As with supplementary fatty alcohols, 1-tetradecanol is used as a component in cosmetics such as cold creams for its emollient properties. It is also used as an intermediate in the chemical fusion of other products such as surfactants. Other names of 1-Tetradecanol include n-Tetradecan-1-ol; n-Tetradecanol; n-Tetradecyl alcohol; Alfol 14; Lanette K; Lanette Wax KS; Loxanol V; myristic alcohol; myristyl alcohol; tetradecyl alcohol; n-Tetradecanol-1; 1-Hydroxytetradecane; Dytol R-52; dehydag wax 14; Epal 14; Lanette 14; Lorol C14; Philcohol 1400; Tetradecanol-1; Tetradecan-1-ol; NSC 8549; and Fatty alcohol (C14).
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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.
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.).
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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