The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Persistence Market Research digs deep into the global guerbet alcohols market and fetches some key information through structured market research. The report, “Global Market Study on Guerbet Alcohols: 2-octyldodecanol Product Type Segment Projected to Account for Significant Market Share Between 2016 and 2024 ” gauges the market and predicts the future demographic and climactic changes of the market. The report reveals that the 2-octyldodecanol segment will dominate more than 35% market share and it will surge at a CAGR of 6.7% by the end of the forecast period (2016 – 2024). The present estimated value of the global guerbet alcohols market is more than US$ 800 Mn and the market will stretch at a CAGR of 5.6% and will touch US$ 1316.7 Mn by the end of 2024.
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Global guerbet alcohols market dynamics
A massive boom in the beauty and cosmetics industry and enhanced beauty and conscious customers are populating the global market. A host of high-end beauty products and cosmetics are a part of the daily lives of the millions. The need and emergence of the multifunctional cosmetics are also soaring in the global cosmetics market and thus it is creating a suitable ambience of growth for the global guerbet alcohols market. The new breed of multifunctional cosmetics has the ability to control and omit some of the acute skin problems are high in demand. They are geared to deal with problems such as anti-aging and they also have the ability to provide a shied from UV rays, they are an excellent anti-oxidant, moisturizers and also possess the capability of cleaning the skin. The significant rise in the market of the multifunctional cosmetics will push the global guerbet alcohol market ahead within the forecast period. The guerbet alcohols are safer alternatives and thus their popularity within the cosmetic fraternity immense. The genetic qualities of guerbet alcohols helps them gain an edge in the market. They are excellent flattening and good perfuming agents and they are also an able emulsion stabilizer which makes them an obvious choice for some of the leading cosmetic giants spread across the globe. The overall cost of the production of the guerbet alcohols are extremely high. A suitable production of the alcohol needs proper care and precaution and goes through a series of processes before reaching the final step. This long and extensive process of manufacturing of alcohol is likely to dampen the surging spirit of the market.
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Global guerbet alcohols market forecast
Market insights suggests that the overall width of the global guerbet alcohols market will expand within the forecast period. Several positive changes are expected to fuel the growth of the market. The market is fragmented and each portion of the fragment has a crucial role to play in the market. In the product division, the 2-octyldodecanol will play a pivotal role in building the market revenue. This product type is expected to occupy a major share of the market. The report hints that the 2-octyldodecanol product type will account for a value share of almost 33.5% in the global guerbet alcohols market. The segment will surge at a CAGR of 6.7% within the forecast period.
From the long queue of end users the personal & cosmetic care segment will mint a significant revenue within the forecast period. The steady expansion of the cosmetic market will affect the production of guerbet alcohol chemicals. As per the forecast this segment to account for more than 52% of the market value share by the end of the forecast period.
Amongst the major markets Europe will show promising results within the forecast period. The region is estimated to represent more than 26% in 2016 and the market will expand at a CAGR of 5.1% within the stipulated time period. The sales revenue of the North American region will pump up to US$ 372.2 Mn by the end of 2024 with an increasing CAGR of 5.3%. The markets in the Asia Pacific region will remain fertile and vibrant during the forecast period.
- BASF SE
- Sasol Ltd
- New Japan Chemical Co., Ltd
- Kisco Ltd.
- Kokyu Alcohol Kogyo Co., Ltd
- DowPol Corporation
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