Fatty alcohols are synthetically prepared or naturally derived aliphatic alcohols commonly derived from animals or plants. Major factor driving growth of the global fatty alcohol market is increasing demand for fatty alcohol in various industries such as oil & gas, cosmetics, pharmaceuticals, etc. However, volatility in prices of raw materials may hamper growth of the global fatty alcohol market.
The global fatty alcohols market report has been segmented on the basis of type, application, and region. On the basis of type, the market is segmented into normal-chain alcohols, branched-chain alcohols, phenolic alcohols, and cyclic alcohols. Normal-chain alcohols can be divided into saturated alcohol, unsaturated alcohol, acetylenic alcohols, and sulfated alcohols.
On the basis of application, the market is segmented into personal care products, plasticizers, lubricants, industrial and domestic cleaners, food and nutrition, pharmaceuticals formulations, and others. Industrial and domestic cleaners segment accounts for the major share in terms of revenue in the global market, owing to growing awareness regarding hygiene among consumers. Additionally, growing demand for cleaning agents from household, as well as, industrial sector and increasing urbanization are also factors driving growth of industrial and domestic cleaners segment in the target market.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is expected to account for largest share in terms of revenue over the forecast period, owing to increasing demand for surfactants among consumers and increasing awareness regarding hygiene and sanitation in countries in the region. Increasing number of surfactant manufacturing companies especially in China, India and Japan is another factor boosting growth of the global fatty alcohol market. The market in Europe is expected to witness average growth in the near future. Currently, the market in Asia Pacific is dominating the global market in terms of revenue, followed by Europe, North America, Latin America, and Middle East & Africa.
Key players operating in the global fatty alcohols market include Wilmar International Ltd., Kuala Lumpur Kepong Berhad, Musim Mas Holdings Pte. Ltd., Godrej Industries Limited, The Procter & Gamble Company, VVF Limited, Sasol Limited, Kao Corporation, Emery Oleochemicals (M) Sdn Bhd, and Royal Dutch Shell plc.