PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410579
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410579
In a recent market estimation by Fairfield Market Research, the global guerbet alcohol market is poised for substantial growth during forecast period. This growth trajectory is expected to propel the market from its 2024 valuation of US$ 1.19 billion to a robust US$ 1.66 billion by 2031.
One of the key drivers behind the burgeoning guerbet alcohol market is the increasing consumer propensity to invest in cosmetics and personal care products, driven by a desire to look and feel their best. Guerbet alcohols serve as versatile ingredients in the cosmetics and personal care industry, making them a pivotal force in the market's expansion.
Guerbet alcohol, a colorless and odorless liquid, has found its niche in fragrances and emollients for cosmetics. This low-viscosity, long-chain fatty alcohol is an essential raw material for cosmetics, thanks to its exceptional oxidative stability. As a result, the cosmetics and personal care segment is poised to be the dominant contributor to market growth during the forecast period. Guerbet alcohol's emulsion-stabilizing properties make it a fundamental ingredient in various products such as deodorants, antiperspirants, and shaving products.
The global demand for personal care products continues to rise, particularly in several countries. This sustained demand is expected to drive the guerbet alcohol market's growth throughout the forecast period.
However, the market faces certain challenges, such as the higher cost of guerbet alcohols compared to other aliphatic alcohols. The extensive conversion process during dimerization, along with multi-step manufacturing procedures to achieve high purity, contributes to the relatively elevated prices of guerbet alcohols. Some variants of these alcohols are nearly twice as expensive as commonly used alternatives. These higher costs may pose a restraint on the market's growth during the forecast period.
The U.S. cosmetic industry is witnessing growth driven by the increasing number of beauty clinics and the working women population. The country's consumers are increasingly investing in cosmetics and personal care items, influenced by growing awareness of personal appearance and rising per capita income. The marketing efforts, including advertising and promotions, have further encouraged consumers in the U.S. to purchase cosmetic products. These factors are expected to boost the sales of guerbet alcohols, contributing to increased demand for this product in the coming years.
China's cosmetics sector has been expanding rapidly, with consumers embracing skincare and cosmetic products. Factors such as growing disposable income, urbanization, and the influence of social media have contributed to the beauty and cosmetics industry's rapid growth in China. The cosmetics consumption in China is poised to continue its strong expansion. Despite the challenges posed by the COVID-19 outbreak, the Chinese cosmetics market demonstrates significant medium- to long-term potential. As the cosmetics and personal care segment grows, it will have a direct impact on the guerbet alcohol market, as it is one of the largest consumers of this compound.
The global guerbet alcohol market is highly consolidated, with a limited number of key players dominating the field. BASF SE and Sasol Limited are two dominant market players, collectively accounting for over 70% of the total market share. These key players are actively expanding their production capacities to meet the growing demand for guerbet alcohol, particularly from industries such as cosmetics and personal care on a global scale.