Fatty Alcohols Market
Geography-wise , the market has been classified into the Middle East and Africa , Latin America , Asia Pacific , Europe , and North America . Due to the rising disposable income of consumers , refining lifestyle , and rising population , the global fatty alcohols market is likely to be dominated by emerging economies in the near future .
Outstanding to high consumption of fatty alcohols in India and China because of the burgeoning industrial sector , Asia Pacific has been projected to lead the market until 2023 closely trailed by North America owing implementation of stringent regulations . According to a TMR analyst , “ The development of the Asia Pacific fatty alcohols market can be attributed to the rising consumption of beauty products , soaps and detergents , and abundance of raw materials . The European fatty alcohols market is likely to observe significant share loss to regions such as Central and South America and Asia Pacific .”
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Personal Care to Contribute towards Market Growth Extensively The fields of application of fatty alcohols include metal working fluids , fragrances , flavors , plasticizers , cosmetics and personal care , and soaps and detergents . The global market for fatty alcohols is projected to upsurge in a substantial rate owing to the rising consumption of fragrances , cosmetics , beauty products , and other personal care products . The growth of the petrochemical industry is also one of the chief reasons behind the progress of the global market for fatty alcohols .
Yet , the market is vulnerable to the shifting prices of raw materials and surplus production in the coming years . As synthetic fatty alcohols are factory-made using petrochemicals and petrochemicals are byproducts of crude oil , the fluctuating prices of oil are likely to unfavorably impact the sales fatty alcohols . Unsold stocks are also one of the key concerns of fatty alcohols manufacturers .
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