Fatty Alcohol Market Size, Share, Growth

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Fatty Alcohol Market, By Type, Trend
Analysis, Competitive Market Share 2020-2027
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Industry Trends Forecast Report 2027 A recent
study conducted by the strategic consulting and
market research firm BlueWeave Consulting revealed
that the global fatty alcohol market was worth
USD 5.5 billion in the year 2020. The market is
estimated to grow at a CAGR of 6.3, earning
revenue of around USD 8.4 billion by the end of
2027. The global fatty alcohol market is gaining
significant traction because of the increasing
demand for bio-based renewable products to
promote sustainability and control dependence on
non-renewable products, such as petrochemicals.
Fatty alcohol is produced from plant-based
products, which makes them biodegradable this is
a primary factor boosting its market demand. The
flourishing production and demand for surfactants
and personal care products, such as soaps,
detergents, laundry softeners, textile coatings,
agricultural chemicals, etc.
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Growth drivers Growing Demand for Surfactant The
demand for surfactants in the form of detergents,
wetting agents, emulsifiers, foaming agents,
dispersants, etc., are witnessing significant
growth in the market. With this growth in
surfactants, the global fatty alcohols market is
also projected to prosper. The manufacturers of
personal care products such as shampoo,
conditioners, shower gels, antiperspirants, etc.,
offer a wide range of products to meet their
customers' growing demand in various regions.
They are also engaging in RD activities to
develop and upgrade their products, which is
expected to boost the global fatty alcohol
market.
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Restraints Highly Volatile Prices of Raw
Materials The fluctuating prices of raw
materials act as a major restraining factor for
the global fatty alcohol market. Certain raw
materials like rapeseed oil, tallow, palm oil,
etc., are mainly produced in Asia-Pacific
countries like Indonesia and Malaysia. This
region's agriculture relies heavily on the
monsoon for the cultivation of crops, which
affects output and ultimately the price. Raw
materials needed to produce fatty alcohol are
highly reliant on these countries and prices
fluctuate dramatically, which adversely affects
market growth.Sample Copy https//www.blueweavec
onsulting.com/report/global-fatty-alcohol-market/r
eport-sample
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Impact of COVID-19 on Global Fatty Alcohol
Market As a result of the COVID-19-induced
pandemic, the world has been negatively impacted.
Several countries had to impose complete
lockdowns which hindered the manufacturing and
production operations besides the distribution
channels. As a result, global fatty alcohol faced
a sudden slump in its market. The lack of
production and prevailing demand for certain
products like soaps, shampoos, and sanitizers
resulted in an enormous gap between supply and
demand, resulting in huge losses for
manufacturers. However, the global fatty alcohol
market is expected to recover soon in the
post-COVID-19 period as the lockdown restrictions
are uplifted.
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Global Fatty Alcohol Market - Regional
Insights Geographically, the global fatty
alcohol market is segmented into North America,
Europe, Asia-Pacific, Latin America, Middle-East
Africa. The Asia-Pacific region accounts for
the largest market share and is expected to
witness the highest CAGR during the forecast
period as well. Aside from being the largest, the
Asia Pacific region is expected to be growing at
the fastest rate as well. The vast market of
soaps, detergents, and surfactants in this region
is dramatically influencing the growth of the
fatty alcohol market. Furthermore, the easy
availability of raw materials like vegetables is
attracting the producers to shift their
manufacturing operations in countries like
Malaysia, Indonesia, etc., which is projected to
boost the market in the forecast period.
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Competitive Landscape The leading market players
in the global fatty alcohol market are Air
Liquide, Wilmar International Ltd, Arkema SA, VVF
LLC, Croda International PLC, SASOL, Eastman
Chemical Company, Procter Gamble, Ecogreen
Oleochemicals, Oleon NV, Emery Oleochemicals,
Musim Mas Holdings Pte. Ltd, KLK OLEO, Godrej
Industries Limited, BASF SE, Royal Dutch Shell,
SABIC, Berg Schmidt, Oxiteno, and other
prominent players. The global fatty alcohol
market is considered fragmented with the presence
of several global and regional market players.
The companies are concentrating on reducing their
production costs and locating factories in places
where raw materials are more readily available.
They also adopt competitive strategies like
mergers, acquisitions, partnerships,
collaborations, etc., to stay ahead in the
competition.
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