Fatty Alcohol Market Segmentation by Type (Natural, and Petrochemical); by Chain Type (Short Chain, Long Chain, Higher Chain, and Others); by Application (Personal Care & Cosmetics, Plasticizers, Lubricants, Pharmaceutical, and Others) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3340 | Published Date: Feb 09, 2023
Regionally, the global fatty alcohol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to garner largest share over the forecast period on the back of presence of large number of end-user industries, including food & beverages, manufacturing, and lubricants among others, along with the presence of major manufacturers of fatty alcohol in the region. The high population in the APAC region acts as a large consumer base, which is another factor estimated to boost the market growth.
The market in the North America region is estimated to witness significant growth over the forecast period owing to the increasing demand for fatty alcohol by the pharmaceutical industries, along with the increasing public awareness for personal cleanliness and hygiene. Furthermore, rising disposable income of the public is also estimated to provide growth opportunities for the market in the region.
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The global fatty alcohol market is further classified on the basis of region as follows:
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global fatty alcohol market includes the following segments:
By Type
By Chain Type
By Application
Growth Drivers
Challenges
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Anil Kumar, Ipsheeta Dash
Ans: Increasing demand for industrial surfactants and growing awareness regarding cleanliness and hygiene are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~5.5% over the forecast period, i.e., 2022-2030.
Ans: Oversupply of the product is one of the factors estimated to hamper the market growth.
Ans: The market in Asia Pacific is estimated to garner the largest market share owing to the large number of end-user industries present in the region.
Ans: The major players in the market are Kao Corporation, Musim Mas Group, Wilmar International Ltd., Shell International B.V., Emery Oleochemicals, Sasol Limited, VVF L.L.C., The Procter & Gamble Company and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, chain type, application, and by region.
Ans: The natural segment is anticipated to hold largest market over the forecast period on the back of non-toxic and recyclable nature of natural fatty alcohols.
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