Industry Segmentation:

The Global Fatty Alcohol Market has also been segmented by Type, Application and Region.

By Type, the Global Fatty Alcohol Market has been classified as pure and midcut, long chain, short chain, and higher chain. The pure & midcut segment accounted for the majority market share in 2017, whereas the long chain segment is expected to be the fastest growing during the forecast period.

Based on Application, the Global Fatty Alcohol Market has been segmented into detergents and cleaners, cosmetic and personal care, lubricants, plasticizer, pharmaceuticals, food & nutrition, and others. The detergents and cleaners segment dominated the market in 2017; however, the cosmetics and personal care segment is projected to register the higher growth rate during the review period.

Top Key Players:

Some of the key players in the Global Fatty Alcohol Market are Kao Corporation (Japan), VVF LLC (India), KLK Oleo (Malaysia), Ecogreen Oleochemicals (Singapore), Univar Inc. (US), Emery Oleochemicals (Malaysia), BASF SE (Germany), Sasol Limited (South Africa), Berg+ Schmidt GmbH & Co. KG (Germany), Royal Dutch Shell Plc (The Netherlands), Godrej Industries Ltd (India), Wilmar International Ltd (Singapore), P & G Chemicals (US), and Arkema SA (France).

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Regional Development:

The demand for Fatty Alcohols is driven by increasing use in numerous applications including detergents, household and industrial cleaners, laundry softeners, textile coatings, mineral processing, and agricultural chemicals. The growth of the Global Fatty Alcohols Market is driven by growing cosmetics and personal care industry with a surge in demand for premium skin and hair care products, child beauty care products, and color cosmetics.

Asia-Pacific is expected to be the largest market for Fatty Alcohols and is projected to register the highest CAGR of 7.29% during the forecast period. China is expected to be one of the leading markets in the region, accounting for the largest share during the review period. However, the Indian market is expected to exhibit the highest growth rate of 8.18% during the forecast period. The demand for fatty alcohols in Asia-Pacific is mainly driven by increased spending on skin care products and color cosmetics. For instance, from 2012 to 2017, the mass skin care products market registered a CAGR of over 6%, and the face masks market exhibited a CAGR of over 13% in Asia-Pacific. Additionally, with the growing awareness among consumers about the benefits of liquid detergents as compared to detergent bars and powder detergents, the consumption of liquid detergents is increasing at a rapid pace in the rural areas of Asia-Pacific. This is expected to create significant opportunities for the players operating in the Global Fatty Alcohol Market.

Europe held a Prominent Share of the Global Fatty Alcohol Market in 2017 and is expected to exhibit 6.07% CAGR to reach USD 2,035.2 by the end of 2023. Germany, Russia, and France are the major contributors to the growth of the European Fatty Alcohol Market. Increasing regulations on the use of chemicals in detergents are driving the demand for natural fatty alcohol. For instance, the International Association for Soaps, Detergents, and Maintenance Products established by the European Commission has set limitations regarding the extent to which phosphates and other phosphorus compounds can be used in laundry detergents and automatic dishwasher detergents.

North America is also expected to account for a significant share of the Global Fatty Alcohol Market, and the regional market is projected to grow at a moderate pace during the forecast period. The US is expected to maintain its dominance in the regional market during the review period. However, the Canadian market is projected to register higher CAGR during the forecast period.

The market in Latin America is expected to register 6.53% CAGR to reach USD 799.1 million by the end of 2023. The growth of the major end-use industries such as cosmetics and personal care, automotive, and surfactants is likely to drive the market growth in the region.

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The market in the Middle East & Africa is expected to register 6.93% CAGR during the forecast period on account of the growth of the surfactants industry coupled with increasing demand for detergents with low water footprints, due to the scarcity of water. Furthermore, the increased spending on natural skin care treatments and non-invasive beauty procedures, and growing influence of beauty bloggers are some of the important factors driving the growth of the cosmetics and personal care industry, thus, propelling the demand for Fatty Alcohols in the region.

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