1-Decanol market was valued at USD 205.1 million in 2022 and is poised to grow at a CAGR of 6.1% over 2023-2029. 1-Decanol is a straight-chain fatty alcohol with ten carbon atoms that is yellow, viscous, and insoluble in water that is prepared by the hydrogenation of decanoic acid and used to manufacture plasticizers, lubricants, surfactants, and solvents. The rising demand for 1-Decanol as a surfactant and emulsifier in personal care and cosmetic formulations, detergents, and industrial cleaners industries drive the market. For instance, according to Cosmetics Europe, the Personal Care Association estimated the cosmetics and personal care products market to be valued at €88 billion at retail sales price in 2022 and supports over 3.6 million jobs.
Furthermore, the tremendous growth experienced by the pharmaceutical and chemical industry is also anticipated to propel the market growth. The 1-Decanol is used as an intermediate in the synthesis of various chemicals and pharmaceuticals owing to its high diffusion properties that help for easy cleaning and wetting actions. Furthermore, the rising demand for sustainable and eco-friendly goods in a variety of applications like bio-based plasticizers, biofuels, and green solvents has created opportunities to develop sustainable alternatives to reduce greenhouse gas emissions for manufacturers. Currently, the adoption of 1-Decanol as a green and environmentally friendly solvent is becoming popular in the market owing to increased inclination towards safer and more sustainable solvent options for various applications. But, the constant fluctuation of prices of raw materials such as natural oils or petrochemical feedstocks that are used in the production of 1-Decanol along with the availability of alternative chemicals with similar properties are anticipated to hinder the growth of market. However, the increased applications in home & personal care applications, the adoption of new technologies by manufacturers, the emergence of new players, and increased awareness about the enduringness of plastic in the environment are anticipated to flourish the market during the forecast years.
Fastest Growing Market
The market is expected to rise as the demand for oleochemical-based 1-Decanol has increased owing to the adoption of stringent environmental regulations, and the depletion of non-renewable resources like conventional petroleum-based products. Furthermore, the high consumer demand, simple access to raw resources, and a burgeoning market for green chemicals all drive this sector. The demand for oleochemicals is rising in the pharmaceutical and personal care sectors as consumers become more aware of the advantages oleochemicals provide for the environment and their affordability. Oleochemicals are mostly employed in applications for medicinal, and personal care, and soaps and detergents. They are employed in a variety of processes, including those that produce soap, cosmetics, pharmaceuticals, detergents, different oils used in the food industry, and so on. The market experienced increased interest due to the growing applications of oleochemicals in the soap and detergent industries.
The 1-Decanol market valued at USD 205.1 million in 2022 and is expected to grow at 6.1% CAGR over the forecast period 2023 – 2029.
The rising demand for 1-Decanol as a surfactant and emulsifier in personal care and cosmetic formulations, detergents, and industrial cleaners industries drive the market.
Kao Corporation (Japan), Wilmar International Ltd. (Singapore), Kuala Lumpur Kepong Berhad (Malaysia), Sasol (South Africa), Musim Mas Holdings (Singapore), Emery Oleochemicals (Malaysia), Royal Dutch Shell (Netherlands), ExxonMobil Corporation (US), and BASF SE (Germany) are a few companies operating in the 1-Decanol market.
Asia Pacific dominates the market and is anticipated to grow with 6.3% CAGR over the forecast period 2023-2029.