Guerbet Alcohol Market, By Product Type (2-butyloctanol, 2-hexyldecanol, 2-octyldodecanol, 2-decyltetradecanol, 2-dodecylhexadecanol, and Others), By End User (Cosmetics & Personal Care, Metal Processing, Detergents & Cleaners, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East& Africa) was valued at US$ 1.52 Bn 2023 and is expected to exhibit a CAGR of 4.7% during the forecast period (2024-2031), as highlighted in a new report published by Coherent Market Insights.
Sasol Limited is constructing the Lake Charles Chemical project in Louisiana, U.S., which is expected to produce 1.5 million tons of ethylene annually. This ethylene will be further used in downstream plants on-site to produce high-value derivatives, including mono-ethylene glycol, ethylene oxide, low-density polyethylene, ethoxylates, ziegler, and guerbet alcohols. After the completion of the project, an additional capacity of around 30 KTPA will be added to the company's global guerbet alcohol production capacity. Sasol Limited is a South Africa-based integrated energy and chemical company that operates in the sourcing, production, and marketing of chemical and energy products. Sasol is involved in the exploration, production, and marketing of oil and gas, as well as the production of different liquid fuels, chemicals, coal tar, and electricity.
Guerbet Alcohol Market – Impact of Coronavirus (COVID-19) Pandemic.
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding transportation of drugs from one place to another.
The guerbet alcohol market experienced significant supply chain disruptions due to the pandemic. Lockdowns, restricted movements, and workforce limitations led to difficulties in sourcing raw materials and delivering finished products to customers.
There were fluctuations in demand for guerbet alcohols as these are used in various applications, including personal care and cosmetics, detergents, and industrial uses. While some segments like personal care products (especially hand sanitizers and cleaning agents) might have witnessed stable or increased demand, others likely experienced a decline due to an overall economic downturn.
The varying availability of raw materials could have resulted in price volatility, potentially increasing manufacturing costs or creating challenges in maintaining stable pricing for guerbet alcohols.
The focus of consumers and businesses shifted toward essential goods. Industries dependent on guerbet alcohols that produced non-essential goods such as certain luxury personal care items might have witnessed lowered demand.
With people avoiding in-person shopping, there has been a forced acceleration of e-commerce across many sectors. Producers and suppliers of guerbet alcohols had to adapt to this shift in order to reach customers and maintain sales.
Link: https://www.coherentmarketinsights.com/market-insight/guerbet-alcohol-market-3520
Guerbet Alcohol Market – Key Developments
Fine Organic Industries Pvt. Ltd, a specialty additives producer for food, rubbers, plastics, paints, cosmetics and personal care, inks, and coatings, among other specialty applications, announced to establish a new Oleo Chemicals production facility in order to produce fatty amines, fatty acid esters, and guerbet alcohols. The production capacity of guerbet alcohols is expected to be 1,000 MTPA.
Key Takeaways of Guerbet Alcohol Market:
- The guerbet alcohol market is expected to exhibit a CAGR 4.7% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the guerbet alcohol market.
- Among region, North America is expected to be dominant in guerbet alcohol market, owing to the presence of major players such as BASF SE, Sasol Ltd, New Japan Chemical Co., Ltd., Kisco Ltd., Kokyu Alcohol Kogyo Co., Ltd., and DowPol Corporation and other key market player in this region
- Major players operating in guerbet alcohol market include BASF SE, Sasol Ltd, New Japan Chemical Co., Ltd., Kisco Ltd., Kokyu Alcohol Kogyo Co., Ltd., and DowPol Corporation.
