Global Fatty Alcohol Market: Trends, Growth Drivers, and Forecasts
The global fatty alcohol market size is expected to reach USD 8.07 billion by 2030, according to a new study by Grand View Research, Inc. It is anticipated to register a CAGR of 5.7% from 2024 to 2030. Favorable government initiatives in a quest to minimize dependency on petrochemicals coupled with consumer shift towards organic personal care products is expected to drive global fatty alcohols market over the forecast period. Consistent supply of key raw material coupled with the price volatility is expected to a key challenge for market participants. Technological advancements coupled with increasing consumer preference for renewable chemicals are expected to create lucrative opportunities for market participants over the next seven years. Soaps & detergents was the most dominant application segment and accounted for 54.6% of total market volume in 2014. Growing natural surfactants and emulsifiers demand in soaps & detergents industry is expected to fuel fatt...