The market for Cetanol is expected to grow at a CAGR of more than 4% during the forecast period.
- One of the key factors driving the market is the growing demand for cetanol from many cosmetic products.
- Europe is estimated to dominate the market with the largest consumption coming from Germany, while Asia-Pacific is expected to have the fastest-growing market.
Key Market Trends
Cosmetics and Personal Care Industry is Expected to Dominate the Market
- Cetanol also is known as 1-hexadecanol or n-hexadecyl alcohol, is 16-C fatty alcohol with the chemical formula CH3(CH2)15OH. It can be produced from the reduction of palmitic acid.
- Cetyl alcohol is present in a waxy white powder or flake form at room temperature and is insoluble in water and soluble in alcohols and oils. It is also available in liquid form, however, the waxy solid cetanol is expected to have a higher market share due to its application in a wide range of products especially cosmetics.
- Cetyl alcohol has many applications in industries like food & beverage, Cosmetics, Pharmaceutical, and other general industrial applications like lubrication for mechanical parts.
- It is used in cosmetic and personal care products such as shampoos, creams, face washes, and lotions.
- It is commonly used as opacifier, emulsifier, and thickening agent that alters the thickness of the liquid and increases and stabilizes the foaming capacity due to its water-binding property.
- Cetyl alcohol is also commonly used as an emollient that prevents the drying and chapping of the skin. Due to its wide range of applications, cosmetic industry is expected to dominate the Cetanol market during the forecast period.
Increasing Demand for Cetanol Products in Europe
Europe is leading in the demand for the Cetanol market for the past few years. The consumption rate of various cosmetic products has been increasing extensively in Europe. Germany has been the main market for Europe along with France, the United Kingdom, and Italy. Cetyl alcohol is the main ingredient for various cosmetic products suggests that the Cetyl alcohol market has a higher share in European regions in terms of value sales. Cetanol Market is growing with a healthy rate even in North America with the largest consumption is coming from the United States. However, the Asia-Pacific cetanol market is expected to have the fastest growth owing to increasing spending on cosmetics and skin care products in countries like China, Japan, South Korea, and India.
The market studied is partially fragmented in nature. Some of the key players in the market include Godrej Industries Ltd., WEGO CHEMICAL GROUP, Surfachem Group Ltd, Suriachem Sdn Bhd, Timur Network Malaysia Sdn.Bhd, among many others.
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