Lauryl Myristyl Alcohol Market Size is valued at USD 7.52 Bn in 2022 and is predicted to reach USD 10.80 Bn by the year 2031 at a 4.19% CAGR during the forecast period for 2023-2031.
Key Industry Insights & Findings from the Report:
- Lauryl myristyl alcohol is extensively utilized in a variety of personal care products which includes shampoos and lotions. The growing demand for these goods is fueling the expansion of the lauryl myristyl alcohol market.
- The increasing demand for environmentally-friendly products is a key driver for the growth of the Lauryl Myristyl Alcohol market.
- North America dominated the market and accounted for a global revenue share in 2023.
- High and fluctuating raw material prices are one of the key challenges facing the lauryl myristyl alcohol market.
Lauryl myristyl alcohol is a fatty alcohol commonly derived from natural oils. It has various applications, including use in cosmetics, pharmaceuticals, as a surfactant, emulsifier, and in industrial processes. It is valued for its emollient properties and ability to mix substances that don't naturally combine, such as oil and water. Growing per capita expenditure on cosmetic items and personal care, as well as rising demand for Lauryl myristyl alcohol from the paint and coatings and oil and gas industries, will likely fuel market expansion during the forecast period. The growing chemical and manufacturing sectors drive the global lauryl myristyl market alcohol. The broad range of applications in numerous industries drives up demand for lauryl myristyl alcohol. Consumers are utilizing more personal care items, which leads to a rise in the use of lauryl myristyl alcohol in cosmetics.
However, the Russia-Ukraine war and the post-COVID-19 pandemic may substantially impact the market for Lauryl Myristyl Alcohol. The current conflict between Russia & Ukraine may impair Lauryl Myristyl Alcohol manufacturing and supply lines, limiting the market growth.
Competitive Landscape
Some Major Key Players In The Lauryl Myristyl Alcohol Market:
- VVF LLC
- Lubrizol Corporation
- Croda International Plc.
- Dow Chemical Company
- Eco Green Oleo chemicals
- MSD OLEO FZC
- Wilmar International Ltd.
- Procter & Gamble
- Wall Chemie GmbH
- The Lubrizol Corporation
- Azelis Americas LLC
- Ecogreen Oleochemicals
- BASF Care Creations
- Godrej Industries Limited (Chemicals)
- Others
Market Segmentation:
The Lauryl Myristyl Alcohol Market is segmented based on application, source, and type. According to application, the market is segmented as industrial & domestic cleaning, personal care, lubricants, food & nutrition, plasticizers, pharmaceutical formulation, and others. The source segment includes petrochemical and natural. The market is segmented by type into long-chain, higher-chain, short-chain, and mid-cut chain.
As Per The Application, The Personal Care Segment Is A Major Contributor To The Lauryl Myristyl Alcohol Market.
The personal care category will majorly share in the global Lauryl Myristyl Alcohol Market in 2022. This expansion can be due to increased demand for personal care goods. Furthermore, the ability of personal care to operate as an emulsion stabilizer and viscosity-increasing agent, allowing items to be spreadable and creamy, has increased its use in personal care and cosmetic goods such as lipstick, sunscreen, and moisturizer, among others. Furthermore, the industrial and home cleaning segment is likely to direct the market owing to the rising preference for natural oils over chemicals.
The Natural Segment Witnessed Rapid Growth
The natural segment is projected to grow rapidly in the global Lauryl Myristyl Alcohol Market. This expansion can be linked to rising client demand for bio-based products. Natural sources of lauryl myristyl alcohol are environmentally friendly because they are sourced from plant-based sources such as coconut and palm oil. Palm and coconut oils. Fatty alcohols are also found naturally in animal and vegetable sources. Because of their great variety in lauryl chains, vegetable oils serve as traditional sources of fatty alcohol and are more prevalent in some applications than animal sources. As a result, these carbon chains are extremely beneficial in cleaning detergents. Furthermore, the petrochemical segment is expected to dominate the market due to rising customer demand for ecologically friendly and sustainable goods.
In The Region, The North American Lauryl Myristyl Alcohol Market Holds A Significant Revenue Share.
The North American lauryl Myristyl Alcohol Market is expected to record the maximum market share in revenue shortly. Owing to the increasing requirement in the food and cosmetic industries, North America dominates the lauryl myristyl alcohol market. Furthermore, the increasing prevalence of online retailing firms for chemicals and materials, particularly in emerging markets, is aiding expansion throughout the projection period.
However, the growing demand for lauryl myristyl alcohol in North America is due to its popularity in the cosmetics sector and its capacity to give various benefits, including increased foam stability, emollience, and viscosity control. Due to the rapid adoption of low-foaling detergents and cleaners, Asia Pacific is predicted to expand the fastest during the projection period. Furthermore, a tremendous increase in industrial production and chemical synthesis, particularly in China and the Indian subcontinental countries, is occurring.
Recent Developments:
- In July 2023, Croda International Plc (‘Croda’) completed the acquisition of Solus Biotech, a global leader in premium, biotechnology-derived active ingredients for beauty care and pharmaceuticals, after receiving unconditional approval from South Korean regulatory authorities.
Lauryl Myristyl Alcohol Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 7.52 Bn |
|
Revenue Forecast In 2031 |
USD 10.80 Bn |
|
Growth Rate CAGR |
CAGR of 4.19% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Source, By Type, By Application, |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
VVF LLC, Lubrizol Corporation, Croda International Plc., Dow Chemical Company, Eco Green Oleo chemicals, MSD OLEO FZC, Wilmar International Ltd., Procter & Gamble, Wall Chemie GmbH, The Lubrizol Corporation, Azelis Americas LLC, PT. Ecogreen Oleochemicals, BASF Care Creations, Godrej Industries Limited (Chemicals), Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
