The global behenyl alcohol market is estimated to account for 54,200.9 metric tons by the end of 2015 and is projected to witness an increase in its volume share due to rising demand from end-use segments.
New York, NY -- (SBWIRE) -- 02/24/2016 -- According to a recent market research report published by Persistence Market Research, the global behenyl alcohol market is estimated to expand at a CAGR of 4.5% during the period between 2015 and 2021. The report, titled "Global Market Study on Behenyl Alcohol: Asia Pacific to Witness Highest Growth by 2021", assesses the valuation and growth magnitude of the global behenyl alcohol market during the period between 2015 and 2021. The overall market was worth US$119.4 mn in 2014. In terms of volume, the market is projected to stand at 54,200.9 metric tons by 2021.
Chemically, behenyl alcohol is a saturated fatty alcohol and is used to stabilize and thicken formulations. Behenyl alcohol is categorized on the basis of purity level. Behenyl alcohol with a 70% purity level is extensively used. The report points out that the increasing usage of behenyl alcohol across the cosmetics and pharmaceutical industries will propel the global behenyl alcohol market.
On the basis of end use, the report segments the global behenyl alcohol market into cosmetics, pharmaceuticals, and nutritional supplements. Behenyl alcohol finds its largest application across the cosmetics industry. In Asia Pacific, the demand for sun care products is significantly high. In 2014, the demand for sun care products accounted for US$2.2 bn. Growing demand for high-quality cosmetics has led the manufacturers to use behenyl alcohol owing to its more pronounced non-sticky property as compared to other products. Globally, per capita consumption of cosmetics is increasing at a rate of 3.4% per year. This will boost the growth prospects of the global behenyl alcohol market. During the forecast period, the pharmaceutical end-use segment is estimated to grow significantly with increasing demand for behenyl alcohol in ointments.
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The report studies the global behenyl alcohol market across five key regions: Europe, Latin America, North America, Asia Pacific, and MEA. The report mentions that during the forecast period, Asia Pacific will dominate the overall market. In Asia Pacific, India is the largest producer of rapeseed and behenyl alcohol. A large number of companies in India export rapeseed to Europe, North America, and other parts of Asia. Globally, India and Japan are the major exporters of behenyl alcohol. With low presence of market players in China, price competitiveness has significantly reduced among the companies located in India and Japan. Due to this, it is estimated that behenyl alcohol manufacturers would generate high profit margins in Asia Pacific. During the forecast horizon, Europe looks promising for behenyl alcohol manufacturers.
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Describing the competitive landscape, the report profile some of the key players in the global behenyl alcohol market such as Kao Corporation, BASF SE, Godrej Industries Ltd., VVF Chemicals Limited, Sasol Ltd. and Nikko Chemicals Co Ltd. The report offers detailed information about the key players.
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