Industrial Fatty Alcohols Market

The article discusses the current and projected trends in the global industrial fatty alcohols market. It highlights the expected growth in consumption and production volumes, with a focus on key countries such as China, the United States, and India. The analysis also covers import and export dynamics, including changes in prices and volumes over the past decade. Overall, the market for industrial fatty alcohols is forecasted to expand steadily, presenting opportunities for producers and importers in the coming years.

Market Forecast

Driven by increasing demand for industrial fatty alcohols worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 6.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $14.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Industrial Fatty Alcohols

In 2022, the amount of industrial fatty alcohols consumed worldwide amounted to 4.9M tons, growing by 5.3% against the previous year's figure. The total consumption volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the near future.

The global industrial fatty alcohols market size rose remarkably to $9.9B in 2022, surging by 8.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (978K tons), the United States (493K tons) and India (391K tons), together comprising 38% of global consumption. Japan, the UK, Brazil, Bangladesh, Russia, Italy, Belgium, France, the Netherlands and Turkey lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Netherlands (with a CAGR of +14.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.9B) led the market, alone. The second position in the ranking was taken by the United States ($884M). It was followed by Japan.

From 2012 to 2022, the average annual growth rate of value in China totaled +5.7%. In the other countries, the average annual rates were as follows: the United States (-1.0% per year) and Japan (+3.7% per year).

The countries with the highest levels of industrial fatty alcohols per capita consumption in 2022 were Belgium (12 kg per person), the Netherlands (6.7 kg per person) and the UK (3 kg per person).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +13.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Industrial Fatty Alcohols

In 2022, after two years of decline, there was growth in production of industrial fatty alcohols, when its volume increased by 1.7% to 4.8M tons. Overall, the total production indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. Over the period under review, global production reached the peak volume in 2022 and is expected to retain growth in the immediate term.

In value terms, industrial fatty alcohols production expanded to $8.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 14% against the previous year. Over the period under review, global production reached the peak level in 2022 and is likely to see steady growth in the near future.

Production By Country

The countries with the highest volumes of production in 2022 were Indonesia (819K tons), China (514K tons) and the United States (474K tons), together accounting for 38% of global production. Malaysia, India, Germany, Bangladesh, Japan, Brazil, the Netherlands, France, Russia and South Africa lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +16.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Industrial Fatty Alcohols

In 2022, the amount of industrial fatty alcohols imported worldwide rose remarkably to 2.3M tons, with an increase of 6.7% against the previous year. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, industrial fatty alcohols imports soared to $5.4B in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, China (468K tons), distantly followed by the Netherlands (257K tons), the United States (205K tons), Belgium (147K tons), Singapore (134K tons), the UK (126K tons) and India (112K tons) were the largest importers of industrial fatty alcohols, together creating 63% of total imports. The following importers - Germany (100K tons), Japan (74K tons), South Korea (66K tons), Italy (66K tons), France (49K tons) and the United Arab Emirates (47K tons) - together made up 17% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +43.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($968M), the Netherlands ($618M) and the United States ($511M) were the countries with the highest levels of imports in 2022, with a combined 39% share of global imports. Belgium, Singapore, India, Germany, the UK, Italy, Japan, France, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 40%.

Among the main importing countries, the United Arab Emirates, with a CAGR of +40.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average industrial fatty alcohols import price amounted to $2,331 per ton, rising by 21% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial fatty alcohols import price increased by +69.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 40% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($3,407 per ton), while the UK ($1,491 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Industrial Fatty Alcohols

In 2022, overseas shipments of industrial fatty alcohols decreased by -1% to 2.2M tons for the first time since 2014, thus ending a seven-year rising trend. Overall, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.3% against 2012 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 9.8%. The global exports peaked at 2.2M tons in 2021, and then fell in the following year.

In value terms, industrial fatty alcohols exports soared to $4.9B in 2022. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 51%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Indonesia (761K tons), distantly followed by Malaysia (484K tons), the Netherlands (277K tons), Germany (191K tons) and the United States (186K tons) represented the major exporters of industrial fatty alcohols, together constituting 86% of total exports. The following exporters - South Africa (64K tons) and Singapore (43K tons) - together made up 4.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Indonesia (with a CAGR of +15.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest industrial fatty alcohols supplying countries worldwide were Indonesia ($1.4B), Malaysia ($1B) and the Netherlands ($700M), with a combined 64% share of global exports.

Among the main exporting countries, Indonesia, with a CAGR of +16.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average industrial fatty alcohols export price stood at $2,217 per ton in 2022, jumping by 21% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 41% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($3,000 per ton), while Singapore ($1,420 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform