New York, Sept. 07, 2022 (GLOBE NEWSWIRE) — The global detergent alcohol market It is estimated to reach a growth of US$10.36 billion by the end of 2032. Large demand for household detergents and industrial cleaners and the shift in consumer preference towards bio-based products are the main drivers. market growth. East Asia, followed by North America, is expected to remain a top regional market due to the strong presence of end customers.
Global detergent alcohol sales are expected to show a CAGR of 5.2% over the period 2022 to 2032, on a value basis. The growing demand for household detergents has led to a high consumption of detergent alcohol. Indeed, the raw substance needed to manufacture detergents and surfactants is detergent alcohol. The demand for detergent alcohol has indirectly increased due to increased investment expenditure on household cleaning products due to growing concerns about hygiene and health issues.
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The demand for detergent alcohol in the personal care industry is expected to increase significantly as consumer preference for biodegradable and organic content increases. The expansion of the industry will also be strongly influenced by the availability of raw materials and the growing demand for soaps, shampoos and shower gels. It is expected that the adoption of organic and biodegradable ingredients will be the main driver of detergent alcohol consumption in personal care products.
The major players in the market are focusing on introducing new bio-based alcohol detergent products to expand their product portfolios. Several players have increased the price margin on detergent-based alcohol products. Industry players are also acquiring domestic manufacturers of detergent alcohols to increase their market share.
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Key insights from market research
- South Asia Pacific is estimated to remain one of the fastest growing markets with a CAGR of 6.1% over the projected period.
- By application, household detergents is expected to create an additional $1.36 billion dollar opportunity by 2032.
- The shift in consumer preference towards bio-based personal care and pharmaceutical products is expected to create several opportunities for market players.
- Sales of detergent alcohols made from natural raw materials should show a growth rate of 4.8% in volume.
- The North American region is estimated to account for 26.9% of the global consumption by volume of detergent alcohol.
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“Major players in the market are focusing on strategic expansions, acquisitions and production of bio-alcohol based detergent products,” says a PersiStence Market Research Analyst.
The Global Detergent Alcohol Market has been identified as a consolidated space where major players account for a key share. Some of the major market players included in the report are Sasol Limited, Kao Corporation, Ecogreen Oleochemicals, Musim Mas Holdings, Emery Oleochemicals, Univar Solutions Inc., Kepong Berhad (KLK) Oleo, Wilmar International Ltd, Royal Dutch Shell plc, BASF SE , SABIC, Godrej Industries and Procter & Gamble.
Major market players are focusing on increasing their production capacity to meet the high demand from end users. Moreover, to strengthen their position in the market, they acquire other manufacturers in the market.
- In April 2021, Procter & Gamble Company opened a new detergent factory in Romania. This new plant will produce Ariel PODS detergent.
- In June 2022, Univar Solutions announced that it had expanded its distribution agreement for personal and household care products and specialty chemicals with ANGUS Chemical Company.
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The consumption of detergent alcohol has been mainly influenced by certain macroeconomic factors as well as demographic factors, including population growth in developing countries, growth of the industrial sector across the world, and other factors. Growth in the personal care and pharmaceutical sectors is also driving the demand for detergent alcohol.
Additionally, the market is moving towards sustainability with the increase in production and demand for bio-alcohol based detergent products. Several players have acquired domestic producers of detergent alcohols.
More valuable information about the offer
Persistence Market Research, a research and advisory firm, has published a new market research report on the Global Detergent Alcohols Market which contains 2017-2021 industry analysis and 2022-2032 opportunity assessment. .
The report provides an in-depth analysis of the market across different segments i.e. raw material, application and region. The report also provides supply and demand trends along with an overview of the parent market.
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