Fatty Alcohol Market Size

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.