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Behenyl Alcohol Market Accounting for 4.5% During the Forecast Period, 2015 - 2021

Global Market Study on Behenyl Alcohol: Asia Pacific to Witness Highest Growth by 2021’

 

New York City, NY -- (SBWIRE) -- 11/06/2017 -- According to the latest market report published by Persistence Market Research titled ' Global Market Study on Behenyl Alcohol: Asia Pacific to Witness Highest Growth by 2021', the global behenyl alcohol market to expand at a CAGR of 4.5% during the forecast period, 2015 - 2021.

Globally, Asia-Pacific is expected to dominate the market throughout the forecast period and is projected to witness a 1.4X increase in its volume production by the end of 2021. While Japan and India are two major exporters of behenyl alcohol chemicals globally, South Korea is one of the key importers of behenyl alcohol in Asia Pacific. In Asia Pacific, India is the largest producer of rapeseed and behenyl alcohol. A large number of companies based in the country export rapeseed to North America, Europe and other parts of Asia.

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Sun care products are widely used in Asia Pacific. It accounted for nearly US$ 2.2 Bn in 2014. The increase in demand for sun care products, in turn, is expected to boost overall demand for behenyl alcohol globally. Though the market is gaining traction in Asia-Pacific, low presence of Chinese players in the behenyl alcohol market has significantly reduced price competitiveness among the companies based in Japan, India and Europe. As a result, manufacturers are expected to generate high-profit margins in the Asia Pacific region. Europe is the next lucrative destination for behenyl alcohol manufacturers.

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By application type, the behenyl alcohol market is segmented into emollients, emulsifiers, thickeners and others. The emollients segment is expected to dominate the overall behenyl alcohol market by the end of the forecast period, i.e. by 2021. The segment is projected to register an above average growth rate over the forecast period. Global consumption of emollients stood at 130,000 metric tons in 2014. Consumption of behenyl alcohol as an ingredient in emollients accounted for a significant proportion of the total emollients consumed globally.

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