Cetyl Alcohol Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024
1-hexadecanol, also known as cetyl alcohol, is a fatty alcohol. Its chemical formula is CH3 (CH2)15OH. Cetyl alcohol is found in the form of a waxy white solid at room temperature. The word cetyl derives from the Latin word ‘cetus’ meaning whale oil. The name is an indicator of the source from which cetyl alcohol was first isolated. In its early years, cetyl alcohol was manufactured by heating spermaceti, a waxy material obtained from whale oil, with potassium hydroxide. Cetyl alcohol flakes are left over post cooling. Modern day production involves the reduction of palmitic acid, which is obtained from palm oil. Cetyl alcohol is widely used in the personal care industry. It is used in shampoos in order to provide opacity to the product. It is also used as a moisturizer, emulsifier and thickening agent in skincare products such as creams and lotions. Alternatively, it is also employed as a lubricant for fasteners and screws.
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Rising demand for cosmetics across the globe is boosting growth of the cosmetics industry. This, in turn, is expected to drive demand for cetyl alcohol during the forecast period. Growing disposable income across the globe has led to increase in expenditure on personal care products. This has bolstered the personal care industry and its end-use products such as shampoos and lotions. Growing awareness towards health and personal hygiene has also been one of the key factors driving the personal care industry. Growth in the personal care industry is likely to fuel growth of the market in the near future due to its various applications in this end-user industry. Application of cetyl alcohol as a lubricant in fasteners and screws is projected to be another key factor boosting growth of the cetyl alcohol market in the near future. Lubricants are generally used for fasteners and screws having very fine thread in order to avoid thread galling and thread seizing. This is a common occurrence with machines having very high vibrations, as fine threaded screws are preferred in these machines. Hence, growing machine tool industry is expected to be another key factor driving the cetyl alcohol market over the forecast period.
Asia Pacific is projected to be the leading regional market for cetyl alcohol during the forecast period, accounting for substantial share of the global demand. Growth in the personal care industry is a critical factor driving growth of the market in the region. Furthermore, presence of growing economies such as China and India is expected to boost the market in the near future. Growing disposable incomes coupled with the growing awareness towards personal care in the region, is anticipated to drive the personal care industry, subsequently fueling the cetyl alcohol market during the forecast period. North America is expected to be the second largest market for cetyl alcohol over the forecast period. High disposable income in the region, is anticipated to drive the personal care industry, subsequently driving the cetyl alcohol market. Europe is likely to be the third-largest market for cetyl alcohol in terms of regional segmentation. End-user industries such as personal care are expected to drive the cetyl alcohol market in the region. Europe boasts of presence of numerous powerful economies such as the U.K., Germany, France, and Italy. This is anticipated to drive demand for personal care products such as shampoos, subsequently driving the cetyl alcohol market in the region. Latin America is expected to witness steady growth in the cetyl alcohol market on account of high demand from end-user industries in the region. The market is predominantly driven by growing personal care industry in the region. The market in Middle East and Africa is anticipated to grow along similar lines, especially in growing economies such as South Africa and countries in GCC.
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Major players in the cetyl alcohol market include Triveni Chemicals, Lotioncrafter LLC, Emery Oleochemicals (M) Sdn. Bhd., Musim Mas Holdings, Fujikasei Co., Ltd., KLK OLEO, Sasol Olefins & Surfactants, Procter & Gamble, and VVF L.L.C.
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