Behenyl alcohol, which is commonly referred to as docosanol, is known for its emulsifying, thickening, and emolliating properties. The fatty alcohol, which is either synthetic in nature or obtained through oleochemical sources such as palm oil and coconut oil, is a cosmetic ingredient usable in a large variety of application areas.
Analysts from Persistence Market Research have examined the behenyl alcohol market from 2015 to 2021, with revenue (US$) and volume (metric tons) estimates provided for the behenyl alcohol market based on a few criteria. The volume estimate of the behenyl alcohol market is 54,200.9 metric tons by 2015.
Rapeseed Satisfies Natural Appeal of Use of Behenyl Alcohol for Cosmetics
Behenyl alcohol has an array of uses, such as a special solvent, insulating material, chemical intermediate, and filler, amongst other uses in the building and construction industry, foodstuff, cosmetics, pharmaceuticals, textiles, flavoring agents, agriculture, and synthetic detergents.
However, in recent years, it is the organic cosmetics and pharmaceutical industries that are bolstering growth of the behenyl alcohol market. This is mainly due to the increasing use of behenyl alcohol sourced from rapeseed in sun care products. In 2014, sun care products contributed almost US$2.2 bn to the global behenyl alcohol market.
India and Japan Markets for Behenyl Alcohol Leading Global Charts
Globally, Europe is the largest producer of rapeseed, accounting for more than 35% of its production by volume. However, large production of rapeseed in India and Japan in Asia Pacific, from which behenyl alcohol is derived, accounts for the high export of the substance from this region.
Moreover, low presence of Chinese companies in the behenyl alcohol market has been a reason for the low level of competitiveness among companies involved in the production of behenyl alcohol in the Asia Pacific. As such, behenyl alcohol manufacturers in Asia Pacific are expected to enjoy a majority share in the global behenyl alcohol market in the forecast period.
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The aforementioned market study by PMR has outlined the distinguishing properties of behenyl alcohol and some of the factors pivotal to the course of the global behenyl alcohol market in the coming years:
Behenyl alcohol is available in varying purity levels, which are a mark of application-compatibility: for instance, behenyl alcohol with 70% purity level has the largest set of applications, whereas behenyl alcohol with over 80% purity has only a few.
Increasing attraction among consumes for natural products, such as organic cosmetics, will boost the demand for behenyl alcohol in the forecast period.
Low labor costs and easy availability of raw materials will lead to high revenue contribution of the Asia Pacific market for behenyl alcohol to the global behenyl alcohol market. This will also account for the large export of raw materials and finished products from Asia Pacific to North America and parts of Europe.
In Europe, large-scale production of rapeseed and the region being the established base of 400+ big and small cosmetic manufacturers account for high revenue generation in the behenyl alcohol market.
The relatively high price of behenyl alcohol over other long chain fatty alcohols and demand-supply imbalance in the supply chain of fatty alcohols are posing a challenge to this market.