Global sales of isostearyl alcohol was valued at US$ 107.8 Mn in 2015 and is projected to increase about 1.5X to be valued at US$ 164.7 Mn by the end of 2024.
Albany, NY -- (SBWIRE) -- 02/20/2017 -- Global sales of isostearyl alcohol was valued at US$ 107.8 Mn in 2015 and is projected to increase about 1.5X to be valued at US$ 164.7 Mn by the end of 2024. Global consumption of the isostearyl alcohol market was pegged at 14,700.0 tons in 2015 and is estimated to increase at a CAGR of 3.2% over the forecast period to reach 19,594.4 tons by the end of 2024. Isostearyl alcohol is a fatty alcohol or specialty alcohol that consists of 18 carbons in its molecular structure. It is also called isooctadecanol or isooctadecyl alcohol, and is derived from the reduction of isostearic acid. Mainly used in personal care and cosmetics, isostearyl alcohol is primarily used as an anti-aging agent in cosmetics. However, it also acts as a viscosity booster, emulsifier, and pigment binder.
The global isostearyl alcohol market is driven by increasing demand for viscosity boosting and anti-aging agents. Isostearyl alcohol prevents formation of crystals in personal care products and hence its demand as an ingredient in personal care products as well as cosmetics is expected to boost growth of the isostearyl alcohol market over the forecast period.
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However, development of natural ingredients for anti-aging skin care products, rising demand for multifunctional personal care ingredients, and availability of alternatives to isostearyl alcohol are some of the major challenges for the isostearyl alcohol market. A recent trend observed in the global isostearyl alcohol market is the blending of isostearyl alcohol with other fatty alcohols to improve its properties. Due to the monotonic properties of isostearyl alcohol, producers are focusing on developing various blends with other fatty alcohols as part of their product strategy.
The global isostearyl alcohol market can be segmented on the basis of application, end use, and region. On the basis of application, the global isostearyl alcohol market has been segmented into emollient, glossing agent, solvent, dispersing agent, pigment binder, and others (thickening and stabilizing agent). In terms of value, the emollient segment is estimated to be the fastest growing segment over the forecast period. On the basis of end use, the global isostearyl alcohol market has been segmented into personal care and cosmetics.
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Market analysis by segmentation
Personal care is currently the most prominent segment in this market in terms of volume. The personal care segment was valued at US$ 63.9 Mn in 2015 and is estimated to account for 59.2% share in the global isostearic alcohol market by the end of 2016 – likely to exhibit a CAGR of 4.4% over the forecast period. The cosmetics segment was valued at US$ 43.9 Mn in 2015 and is estimated to account for 40.8% share in the global isostearic alcohol market by the end of 2016 – likely to exhibit a CAGR of 5.4% over the forecast period. The cosmetics segment is expected to gain traction over the forecast period due to a rising demand for anti-aging products.
The emollient and solvent segments collectively accounted for 49.5% share of global consumption of isostearyl alcohol in 2015 and are expected to exhibit CAGRs of 3.9% and 3.5% respectively over the forecast period. The glossing agent and dispersing agent segments collectively accounted for 28.0% share of global consumption of isostearic alcohol in 2015 and are expected to exhibit CAGRs of 4.4% and 3.9% respectively over the forecast period.
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On the basis of region, the global isostearyl alcohol market is segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. In terms of value, the Europe and North America geographies dominate the global isostearyl alcohol market. Europe was the largest market for isostearyl alcohol in 2015, accounting for over one-third share of the overall global isostearyl alcohol market and is expected to be an attractive market for isostearyl alcohol over the forecast period. However, the Asia Pacific market is projected to emerge as the fastest growing market during the forecast period.
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