Fatty Alcohol Market size was over USD 6.26 billion in 2023 and is poised to cross USD 11.23 billion by 2036, witnessing more than 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of fatty alcohol is evaluated at USD 6.49 billion. The increasing demand for surfactants is estimated to boost the growth of the global market as the surfactants are made from fatty alcohol. Growing personal hygiene awareness amongst the public, especially post covid-19 pandemic has increased the demand for cleaning agents, such as soaps, handwashes, and detergents. According to a report by the World Bank, before the spread of covid-19, more than 3 billion people around the world had no access to soap. However, the World Bank has provided soaps and other cleaning agents to 72% of the target communities in developing countries, including Ghana, Yemen, Indonesia, and Sri Lanka. Moreover, the expanding use of detergents and cleansers in various industries, along with households, is further estimated to boost the market growth. Increasing trend of using cosmetics is another factor anticipated to fuel the market growth, as fatty alcohols are used as emulsifying agents in lotions and other products.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.6% |
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Base Year Market Size (2023) |
USD 6.26 billion |
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Forecast Year Market Size (2036) |
USD 11.23 billion |
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Regional Scope |
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The global fatty alcohol market is segmented by type into natural, and petrochemical, out of which, the natural segment is anticipated to hold the notable share in the market during the forecast period on account of increasing adoption of natural products as opposed to petroleum-based products. Natural fatty alcohols are recyclable and less toxic, which is why these are being increasingly used in cosmetic and pharmaceutical products. This is estimated to boost the segment growth. Based on application, the personal care & cosmetic segment is projected to gain the largest share over the forecast period, owing to the increasing demand for personal cleanliness products, such as soaps and detergents.
Our in-depth analysis of the global market includes the following segments
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By Type
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By Chain Type |
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By Application
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APAC Market Statistics
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. Asia Pacific is set to dominate majority revenue share by 2036, 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.
North America Market Analysis
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.
Author Credits: Parul Atri
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