Global Oleyl Alcohol Market - 2022-2029

Global Oleyl Alcohol Market - 2022-2029

Market Overview

Oleyl alcohol is an organic substance. The term ""fatty alcohol"" describes it. Animal and plant fats are some of the sources of oleyl alcohol. The liquid is transparent and has a distinctive smell. Because of its emollient and moisturising qualities, oleyl alcohol finds use in a variety of cosmetic and personal care products. Oleyl alcohol is produced naturally from fatty acids that are unsaturated. Catalytic hydrogenation is used to produce it from oleic acid esters. Additionally, oleyl alcohol, a naturally occurring chemical, is found in the oils of fish and other aquatic mammals, it is insoluble in water.

The demand for personal care products is likely to increase as a result of a number of factors, including changing lifestyles and consumers' growing knowledge of the importance of having good skin and hair. This is expected to increase the demand for oleyl alcohol.

The global oleyl alcohol market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 5.45% during the forecast period (2022-2029).

Market Dynamics: Growing oleyl alcohol market with widely increasing consumer awareness of environmentally friendly surfactants

One of the biggest opportunities for the surfactant market is bio-based surfactants, where increasing consumer awareness of environmentally friendly products has significantly fueled surfactant demand for oleyl alcohol. As foaming agents, emulsifiers, detergents, and wetting agents, surfactants also have a wide range of uses. Some of the essential characteristics of surfactants include conditioning and detergency, which contribute to their broad range of applications. The personal care, textile, pharmaceutical, soap, and detergent industries are a few examples of where oleyl alcohol-based surfactants are used extensively.

Oleyl alcohol also has other uses, such as a fabric plasticizer. Due to shifting lifestyles and the development of the economies of Asia Pacific and Latin America, the market for oleyl alcohol in plasticizers has been growing noticeably. Additionally, the oleyl alcohol market has been boosted by developments in several emerging economies, including Brazil, Russia, China, and India, as well as by rising environmental awareness and legal requirements. Key manufacturers have collaborated and entered into several agreements with other businesses to market new products and increase their market share. For instance, on 7 May 2021, PT. Ecogreen Oleochemicals launched ECOROL®, which is a blend of saturated fatty alcohols. Fatty alcohol is widely used in surfactants in the form of fatty alcohol ethoxylates, fatty alcohol sulfates and fatty alcohol ethoxy sulfates. They are commonly found in personal care, oral care, laundry detergents, dishwashing liquid, surface cleaners, cosmetics creams and lotions. Other industrial application includes antioxidant, flavor and fragrances, fabric softener, plasticizer, metalworking and agrochemical intermediate. Their saturated fatty alcohol is available in PT Ecogreen Oleochemicals Batam.

Market Segmentation: The cosmetics and personal care segment had the highest market revenue share in the oleyl alcohol market

The cosmetics and personal care category led the market with a revenue share of over YY% in 2021. The rising consumer awareness of personal cleanliness and the rising global demand for anti-aging products are responsible for its high market share. It can be found in various goods, including eye creams, foundation, hair conditioners, and skin cleansers. The product's demand is further fueled by its moisturizing and emollient qualities, which are used in cosmetic and personal care products. Further, various multinational personal care and cosmetics brands, such as Avon, Revlon, Christian Dior, Estee Lauder, L’Oréal, Burberry, Calvin Klein, Maybelline New York, Bobbi Brown, and the Body Shop, significantly adhere to the guidelines stated by the U.S. federal government for environmental protection and the European Commission, which emphasize the use of bio-based resources. It has increased product consumption for manufacturing personal care products, including anti-aging creams, styling gels, lipsticks, hair treatment products, moisturizers, eye shadow, and lip gloss. For instance, on September 6, 2022, P&G launched its first high-performing shampoo bars across its European haircare portfolio. Herbal Essences and Aussie will continue to deliver sustainable products at scale. These new products will change how consumers buy and use shampoo and conditioner.

Consumers are eager to be more sustainable and are urging brands to help them. Global research conducted by P&G Beauty reveals that 75% of consumers want to buy more beauty products with packaging made from recycled material. Indeed, a significant proportion of consumers (65%) already try to buy plastic-free packaging. With a footprint in millions of European households, P&G Beauty’s scale, combined with its commitment to continue to raise the bar on sustainable innovation, delivers a significant contribution to tackling the challenges of bathroom sustainability.

Geographical Penetration: Asia Pacific is the dominating region during the forecast period

The production and consumption of oleyl alcohol is likely to be dominated by Asia Pacific. The biggest production base of oleochemicals, particularly oleyl alcohol, is currently found in Asian nations like Indonesia, Malaysia, Singapore, and Thailand, which also enjoy favorable trading links with developed nations. Additionally, Asia Pacific is anticipated to have the biggest use of oleyl alcohol due to the region's enormous population dynamics. They have a sizable customer base and expanding end-user markets, particularly in the personal care sector. It is related to rising consumer awareness of bio-based products and stricter laws, which are driving up demand for those products. Positive industry growth is being sparked by the presence of significant manufacturing firms throughout the area, including AkzoNobel, P&G, Croda, and Ashland Inc. For instance, in the year 2019, the largest single track facility of its sort in the world has been announced by Ecogreen Oleochemicals to expand its fatty alcohol facilities by 180,000 tonnes annually in Batam, Indonesia. Ecogreen Oleochemicals chose the Lurgi based technology of the methylester pathway due to its track record of dependability and performance. Ecogreen Oleochemicals, such as oleyl alcohol, will be able to produce 360,000 tonnes of fatty alcohol annually with the expanded capacity, doubling their current production capacity. The announcement confirms Ecogreen's dedication to meeting the needs of its clients who require fatty alcohols on a global scale.

Because of their mature end-use industries and low population, Europe and North America are experiencing stagnant growth in product demand. However, the growing utilization of bio-based raw materials instead of petrochemicals is likely to positively impact the industry across the region. Moreover, the rising consumer awareness regarding natural ingredients and their benefits favors product demand across the personal care and cosmetics industries.

Competitive Landscape:

The market is growing quickly as a result of increased demand in a variety of end-use industries, such as textiles, personal care and cosmetics. Key players are focusing on a variety of mergers and acquisitions and joint ventures in order to expand their operations. Important chemical makers are also working with well-known corporations from other locations to expand their geographic reach and customer. Some well-known companies that compete in the global oleyl alcohol market include AkzoNobel, Ecogreen Oleochemicals Pte Ltd., Procter & Gamble, Croda International Plc, Stepan Company, Sasol Olefins & Surfactants GmbH, The Lubrizol, FPG Oleochemicals Sdn. Bhd., Henkel AG & Co. KGaA, and Ashland Inc.

For instance, on September 27, 2022, Croda International Plc introduced its first biotechnology, which uses clever science to develop high-performance chemicals and solutions that enhance lives. ""Biotechnology: Personal Care,"" the first in a series from Croda, aims to help other forward-thinking companies take advantage of biotechnology opportunities. The investigations will explore novel possibilities, barriers to general acceptance, and remedies. Although the field of biotechnology is still small and the technology still has many challenges to overcome in terms of performance, pricing, scaled manufacturing, and sustainability. Where these obstacles are surmounted, the personal care industry can develop novel biotechnology-derived chemicals and biotechnology-derived substitutes for already used products to fulfill its customers' growing performance and sustainability demands.

PerformanX Specialty Chemicals, LLC announced on September 12, 2022, that Stepan Company had reached an agreement to purchase the company's surfactant business and related assets. The acquisition will include intellectual property, commercial relationships, and inventory. The definitive agreement is subject to normal closing conditions, and the transaction is expected to close in the third quarter of 2022.

COVID-19 Impact: Negative impact on the global oleyl alcohol market

The COVID-19 pandemic significantly affected businesses across the world. The epidemic's spread has disrupted supply chains for businesses, forcing them to update their business models and marketing plans. Additionally, the outbreak affected product sales and profits. For instance, on April 23, 2020, Pernod Ricard anticipated that the spread of COVID-19 would cause profit margins to decline by almost 20%. Despite the COVID-19 pandemic-related global macroeconomic uncertainties, for instance, the Ashland portfolio performed strongly during the quarter. Sales totaled about $610 million, a 9 percent decrease from the previous year. About half of this reduction came from their legacy business and previously disclosed prior-year losses in oral care In the second fiscal quarter, Ashland anticipated a loss from continuing operations of roughly $580 million, or roughly $9.5 per diluted share, principally due to a goodwill impairment charge following the quarter's business unit.

The global oleyl alcohol market report would provide access to approximately 61 market data tables, 54 figures and 170 pages