Demand for behenyl alcohol in end-use segments such as cosmetics, pharmaceuticals, and various others has been increasing. The personal care and cosmetics industry has been an ever-changing market with new trends surfacing all the time, and has also witnessed rapid growth in the past few.
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Behenyl alcohol has its largest application in the cosmetics industry, as is used mostly for in sun care products. Demand for high-quality cosmetic products is expected to drive demand for behenyl alcohol due to its relatively non-sticky property as compared to other ingredients. Demand for behenyl alcohol is also expected to gain traction for use in pharmaceuticals, as it is used extensively in the production of ointments due to its ability to thicken and stabilize formulations. The global behenyl alcohol market is estimated to expand at a CAGR of 4.5% over the forecast period of 2021-2031.
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Key Takeaways from Market Study
- Increasing global consumption of emollients have, in turn, raised demand of behenyl alcohol, and account for 25% share.
- Increase in demand for sun care products is expected to boost overall demand for behenyl alcohol.
- High quality cosmetics has seen prominent growth in recent years, which also acts as a driving key factor for increased demand for behenyl alcohol. Cosmetics accounts for 80% of overall demand for behenyl alcohol.
- Increasing demand from the pharmaceutical sector is expected to complement market growth, as it is a key ingredient in the production of various ointments.
- Currently, Asia is the most dominant market for behenyl alcohol, due to high production of rapeseed and behenyl alcohol in countries such as India.
- Players in the Asia are expected to generate high-profit margins due to low presence of Chinese players and reduced price competitiveness among companies based in China, Japan, India, and Europe.
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