Fatty alcohols market is expected to witness swift growth over the forecast period on account of the growing demand for detergents and surfactants. Fatty alcohols perform functions such as lubrication, floatation and emulsification. The market is expected to witness significant growth on account of increasing application in food, metal working, personal care, textile processing, pharmaceuticals, pulp & paper and agriculture industries. In addition, emergence of sustainable and biodegradable products is expected to propel market growth over the next six years. Moreover, supportive regulatory framework for biobased products to reduce green house emissions is further expected to drive demand over the next six years.
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Europe is expected to be one of the largest regional markets for fatty alcohols owing to advent of “Horizon Strategy 2020” by the European Commission, for promoting production and use of biobased products. Asia Pacific is expected to propel market demand on account of growing applications of fatty alcohols in detergents and cosmetics. Rising hygiene concerns and increasing disposable income mainly in India and China is expected to contribute to detergents and cosmetics market growth. Availability of feedstock such as palm kernel oil in Brazil is expected to augment fatty alcohols market over the next six years.
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Growing applications of fatty alcohols in personal care industry including lotions, creams and hair & skin products in Asia Pacific is expected drive demand over the forecast period. Key market players include Eastman Chemical Company, BASF SE, VVF LLC, Croda International, P&G Chemicals, Ecogreen Oleochemicals, KLK OLEO and Emery Oleochemicals. Ecogreen Oleochemicals introduced Rofanol grades which are solid-waxy, pasty and liquid at ambient temperature thereby serves to be oil component and emulsifier in various personal care applications.
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