LONDON--(BUSINESS WIRE)--The global fatty alcohols market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The market has been witnessing strong demand for industrial and institutional cleaners over recent years. This can be attributed to the growing awareness about health and hygiene among consumers in developing countries. Also, the need for maintaining cleanliness at the workplace and other community places has increased the demand for industrial and institutional cleaners. Surfactants are the raw materials used to produce industrial and institutional cleaners. This is positively influencing the demand for fatty alcohols as they are used to produce surfactants for detergent applications. With the rising demand for industrial and institutional cleaners, the demand for fatty alcohols will accelerate during the forecast period.
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As per Technavio, the advent of biosynthetic fatty alcohols, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Fatty Alcohols Market: Bio-Synthesized Fatty Alcohols
Synthetic fatty alcohols are mainly derived from petrochemical sources such as ethylene. Factors such as declining petroleum supplies and the rising use of plant oil for human consumption have been restricting the development of fatty oils. This has led to the emergence of bio-synthesized fatty alcohols by harnessing oleaginous microorganisms. The abundance of renewable resources for microbial growth is encouraging several researchers and vendors to increase their focus on the development of bio-synthesized fatty alcohols. This concept is expected to emerge as one of the major alternatives for the production of fatty alcohols. These factors are expected to boost the growth of the global fatty alcohols market during the forecast period.
“Apart from the advent of bio-synthesized fatty alcohols, the growing demand for biosurfactants and the emergence of China and India as manufacturing hubs are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Fatty Alcohols Market: Segmentation Analysis
This market report segments the global fatty alcohols market by application (cleaning products, personal care, lubricants, and others) and geography (APAC, EMEA, and the Americas).
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to factors such as increasing population, growing awareness about health and hygiene, rising urbanization, improving living standards, and the wide availability of products.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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