The global 2-hexyldecanol market size is expected to reach USD 111 Billion in 2032. Growth in the cosmetics industry in low-income group countries is anticipated to push the demand for 2-hexyldecanol in the future.
As per FMI, the global 2-hexyldecanol market share stood at USD 75 Billion in 2022 and is set to exhibit growth at a CAGR of 4% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| 2-Hexyldecanol Market Estimated Base Year Value (2021) | USD 72 Billion |
| 2-Hexyldecanol Market Expected Market Value (2022) | USD 75 Billion |
| 2-Hexyldecanol Market Anticipated Forecast Value (2032) | USD 111 Billion |
| 2-Hexyldecanol Market Projected Growth Rate (2022 to 2032) | 4% CAGR |
The 2-hexyldecanol market has seen substantial growth in a few years and is expected to continue to do so throughout the projected period. 2-Hexyldecanol is a kind of fatty alcohol with a lot of branches. Stability, lower melting point, and low irritant qualities have resulted in higher demand for 2-hexyldecanol in numerous industries.
Its distinctive color, thermal stability, increased biodegradability, excellent liquidity, and superior stability to some other unsaturated or straight alcohols with a comparable number of carbon atoms can be attributed to higher sales of 2-hexyldecanol in the pharmaceutical and cosmetic industry.
Though the pharma grade segment mostly dominates the global market, in recent years, there has been a promising growth in demand for 2-hexyldecanol in the technical grade segment.
Generally, it is liquid in state at room temperature, the major advantage for such higher sales of 2-hexyldecanol in the industrial market. With the emergence of such new uses, the global 2-hexyldecanol market share is predicted to witness promising growth in the future years.
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2-hexyldecanol has multifunctional characteristics owing to which it finds application in personal care, cosmetics, polymer & plastic, and dyes, among other industries. In the personal care & cosmetic industry, the demand for 2-hexyldecanol is particularly for its use as an emulsifier.
In contrast, it is used as a solubilizing agent for liposomal drugs in the pharmaceutical industry. Along with this, the sales of 2-hexyldecanol as a solvent in dyes, pigment, rubber & plastic manufacturing are gaining momentum in the present market.
The trends in the cosmetics & personal care industry are such that multifunctional ingredients are used for skin care, sun care, and hair care cosmetics products, which sequentially is expected to drive the demand for 2-hexyldecanol over the forecast period.
Higher sales of 2-hexyldecanol are also achieved due to its uses as a cosmetics ingredient to provide multifunctional properties. Moreover, OSHA defines it as a non-hazardous substance, i.e., it is a relatively safer alternative to some of the other conventionally used ingredients that are anticipated to drive the sales of 2-hexyldecanol for cosmetics products.
Along with this, significant growth of dyes and polymer & plastics industry in developing regions will, in turn, help to drive the demand for 2-hexyldecanol in other markets.
2-hexyldecanol tends to be more expensive than other aliphatic alcohols due to the comprehensive conversion during the dimerization process of alcohol.
Thus, relatively higher prices of 2-hexyldecanol are in turn expected to act as an impediment to the sales of 2-hexyldecanol during the forecast period. Moreover, the global 2-hexyldecanol market share is a highly consolidated market as two players, BASF SE, and Sasol Ltd., accounted for the lion’s share of the market in terms of production.
At the same time, several other new players are focusing on the expansion of the production capacity in order to enhance their sales of 2-hexyldecanol in the global market.
In terms of demand for 2-hexyldecanol, the global market is expected to be dominated by the Asia Pacific region, followed by North America. Whereas in terms of production and sales of 2-hexyldecanol, Europe alone accounts for the lion’s share of the global market.
This higher demand for 2-hexyldecanol in the Asia Pacific region is mainly attributed to the increasing consumption of personal care products in China, Japan, and Southeast Asian countries. Steady growth in end-use industries across the Asia Pacific is expected to translate into a steady growth in demand for 2-hexyldecanol in the region during the forecast period.
North America and Europe are expected to witness relatively slower growth in sales of 2-hexyldecanol primarily due to the mature nature of the end-use industry in these regions.
Some of the leading companies operating in the global 2-hexyldecanol market are BASF SE, Sasol Ltd, Kisco Ltd, New Japan Chemical Co., Ltd, DowPol Corporation, Jarchem Industries Inc, TCI AMERICA, and Merck KGaA among others.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Grade, Function, End Use |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled |
BASF SE; Sasol Ltd; Kisco Ltd; New Japan Chemical Co., Ltd; DowPol Corporation; Jarchem Industries Inc; TCI AMERICA; Merck KGaA |
| Customization | Available Upon Request |
The expected growth rate of the 2-hexyldecanol market share is about 4% for the years 2022 to 2032.
The global 2-hexyldecanol market is set to exceed USD 111 Billion in 2032.
Asia Pacific is set to lead the global 2-hexyldecanol market in the forecast period.
| CAGR (2023 to 2033) | 4.6% |
|---|---|
| Market Size - 2023 | USD 114.02 billion |
| Market Size - 2033 | USD 178.78 billion |
| Market Valuation (2023) | USD 6.5 billion |
|---|---|
| Market Valuation (2033) | USD 12.7 billion |
| Market CAGR (2023 to 2033) | 6.8% |
| Market Size (2022) | USD 16.80 Billion |
|---|---|
| Market Size (2032) | USD 27.37 Billion |
| Market CAGR (2022 to 2032) | 5% |
| Expected Market Value (2022) | USD 335 Million |
|---|---|
| Projected Market Value (2032) | USD 800 Million |
| Global CAGR (2022 to 2032) | 6% |
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2-Hexyldecanol Market
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