Fatty Alcohols Market
REPORT DESCRIPTION
Fatty Alcohols ( C6-C10 , C11-C14 , C15-C22 and Others ) Market for Detergents & Soaps , Personal Care , Plasticizers , Lubricants , and Other Applications - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2015 - 2023
With the robust growth of the petrochemical industry worldwide , the global fatty alcohols market is anticipated to rake in a healthy share of the pie . Fatty alcohols are used across numerous industries including soaps and detergents , plasticizers , cosmetics and personal care , metal working fluids , flavors , and fragrances . Therefore , the rising consumption of personal care ingredients and cleaning agents and detergents is providing a tremendous boost to the growth of the market .
On the flip side , the fluctuating prices of crude oil are adversely affecting the growth of the market . The production of fatty alcohols is highly dependent on crude oil since synthetic fatty alcohols are manufactured using petrochemicals and petrochemicals are derivatives of crude oil . Moreover , the overproduction along with the unsold stocks is one of the primary concerns of manufacturers . However , the increasing sales of beauty products and cosmetics in BRIC countries are creating ample opportunities for the growth of the market .
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Owing to these factors , the valuation of the global fatty alcohols market is poised to reach US $ 5.48 bn by the end of 2023 , progressing at a CAGR of 5.1 % between 2015 and 2023 .
Demand for C11-C14 Fatty Alcohols to Remain High through 2023 On the basis of type , fatty alcohols are fragmented into C15-C22 , C11-C14 , C6-C10 , and others ( such as C23 ). The C11-C14 segment will continue to dominate the market in terms of volume until 2023 . Diverse applications of C11-C14 fatty alcohols is propelling the growth of the segment . The segment is expected to expand at a CAGR higher than any other segment during the forecast period .
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