The top companies in the worldwide detergent alcohol market include Musim Mas Holdings (Singapore), Wilmar International Ltd. (Singapore), BASF SE (Germany), SASOL (South Africa), Ecogreen Oleochemicals (Singapore), SABIC (Saudi Arabia), Emery Oleochemicals (Malaysia), Royal Dutch Shell plc (the Netherlands), Kao Corporation (Japan), Procter & Gamble (U.S.), among others.
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Following a meticulous analysis of the latest trends across the globe, Market Research Future (MRFR) states in its report that the detergent alcohol market is expected to accumulate greater revenues at a stunning growth rate during the forecast period (2016-2023).
BASF is planning to raise the production capacity of 1,6-Hexanediol (HDO) by over 50% at its Ludwigshafen Verbund site, in a bid to meet with the rapidly increasing customer demand for superior quality HDO formulations across the globe.
Market Drivers and Key Restraints:
Detergent alcohol refers to the fatty alcohol in which the carbon chain belongs in the range of C12-C18. The process for manufacturing detergent alcohol can be either synthetic or natural. The synthetic detergent alcohol can be derived from petrochemical derivatives, on the other hand, natural detergent alcohol comes from oils, fats, and waxes of plant as well as animals. These types of alcohol have numerous applications in personal care, pharmaceutical, wastewater treatment chemicals, domestic & industrial cleaning, plasticizer among others.
Some of the crucial factors deciding the growth of the detergent alcohol market include the rising production of alcohol-based detergent, the growing demand from the household cleaning industry, and the rapid urbanization all over the world. The rapid surge in industrialization along with the elevation in the disposable income in emerging as well as developed economies are presumed to support the growth of the market over the following years.
In addition, the growth in investment in the residential and commercial sector is slated to augment the expansion rate of the detergent alcohol market. Massive investments for the purpose of research and development (R&D) by renowned vendors coupled with high recognition within a variety of industries is exhibited to have a lucrative effect on the detergent alcohol demand. Yet, the fluctuating cost of crude oil could have a debilitating effect on the market growth in the forthcoming years. On the contrary, the increasing sale of products including hair oil, skin care lotion, child beauty care, color cosmetics, etc. is bound to create major growth opportunities for the market in the foreseeable future.
The detergent alcohol market has been segmented on the basis of source and application.
In terms of the source, the market is considered for natural and synthetic, where the synthetic segment has grabbed the larger share of the overall market. The widespread use of petroleum derived products will be the reason backing the growth of the segment during the evaluation time frame.
Depending on the application, the detergent alcohol market can be broken down into domestic & industrial cleaning, personal care, pharmaceutical, wastewater treatment chemicals, plasticizer, and others. Out of these, the domestic & industrial cleaning sector managed to climb to the top spot in the global market in the year 2016 and is predicted to remain there well throughout the forecast period. The favorable growth rate of the segment has been possible due factors including the expansion of the laundry and hospitality business along with the growing concerns for hygiene and sanitation for the promotion of public health. Also, the boost in the per capita spending on domestic cleaning agents could be another vital factor backing the strong demand for detergent alcohol in domestic and industrial cleaning segment. Furthermore, the personal segment is experiencing the best growth of all the application segments, as a result of the increasing use of personal care products like soaps, shower gels and shampoos. Apart from this, the rising utilization of organic and biodegradable content is projected to be the primary driving force elevating the use of the product in personal care products.
The key regions across which the Global Detergent Alcohol Market has been analyzed include Latin America, Europe, North America, Asia Pacific, and the Middle East & Africa.
Racing ahead with the biggest share of the global detergent alcohol market, Asia Pacific has made a significant space for itself backed by factors like the augmented demand with the product’s increasing applications including domestic & industrial cleaning and wastewater treatment chemicals among others. developing economies such as India, China, Vietnam, Thailand, Malaysia and Bangladesh have been identified as the fastest expanding markets in the regional market for detergent alcohol. Other crucial drivers responsible for the considerable growth in the region are touted to be the increasing economic growth rate, availability of cheaper priced raw material and competitive manufacturing costs.
The market in Europe is just behind that of Asia Pacific, with the main reason for the phenomenal market growth being the consistent expansion of the pharmaceutical and personal care industry. The date analysts are of the view that the regional market has entered its maturity phase, characterized by the presence of highly regulated and an elaborate manufacturing industry.
Securing the third spot is North America, which is slated to experience a noteworthy growth in the upcoming years on account of the elevated demand for plasticizer within the construction industry. On top of that, the growth in the demand for bio-based products as a result of the surge in the consumer awareness as well as strict regulations is exhibited to buoy the market position to a substantial level in the global space.
The Middle East & Africa market is picking up immense speed in the global space, based on the hike in the building & construction activities within the region. Meanwhile, the Latin America market is presumed to expand at a steady pace with the backing from factors like the favorable expansion of the lube additives and personal care industry.
- Detergent alcohol manufacturers
- Traders and distributors of detergent alcohol
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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