Dodecanol Market is forecast to reach $700 million by 2025, after growing at a CAGR of 5.2% during 2020-2025. Dodecanol is a saturated fatty alcohol with a sweet odor. It is an intermediate substance for the production of Dodecyl ethoxylates and Dodecyl sulfate salts. Surging use of dodecanol in automotive industries as fuel additives and lubricating oil formulation boosts the growth of Dodecanol market share. Furthermore, the growing personal and household care industry also drive the demand for Dodecanol, which in turn propels the market growth. Moreover, increasing demand from healthcare industries for disinfectants and cleaning products further augments the growth of Dodecanol market size.
Dodecanol Market Segment Analysis - By Material Type
Coconut Oil segment hold the largest share of more than 40% in the dodecanol market in 2019. Dodecanol was previously prepared commercially by reduction of ethyl laurate (from coconut oil) with sodium & absolute alcohol, but presently it is by catalytic hydrogenation of coconut oil fatty acids or their esters under high pressure. The catalytic hydrogenation of coconut oil’s fatty acid is most widely used for dodecanol formulation as it results in high product purity and good yield. Cost effectiveness and relatively easy extraction of dodecanol are the major factors driving the market growth owing to the surging demand for dodecanol from to make surfactants and lubricating oils.
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Dodecanol Market Segment Analysis - By Application
Based on the application, solvent segment holds the largest share of more than 25% in the dodecanol market in 2019. Dodecanol is used as a solvent in paint, coating and dyes to enhance the properties and adjust its viscosity. It also acts as a surface-active ingredient in paint and coatings which adsorbs at the newly formed oil–water interface during emulsion preparation and protects the newly formed droplets against immediate coalescence. Increasing in construction activities across the world accelerate the use of paint and dyes, subsequently fueling the demand for dodecanol. In addition, International Energy forecasted that global floor area in buildings double to more than 415 billion square meter by 2050, aiding the demand of dodecanol for paint and coatings formulation.
Dodecanol Market Segment Analysis - By End-Use Industry
Automotive segment holds the largest share of more than 25% in the dodecanol market in 2019. Dodecanol are extensively used in the formulation of fuel additives as it enhances fuel miscibility and also lower hydrocarbon and carbon monoxide emissions during combustion of fuel. Surging use of dodecanol in lubricating oil, brake fluids, and grease also drives the growth of the dodecanol market. According to the European Automotive Manufacturers Association, European Union exported 5 million passenger cars with a value of €124 billion in 2019 and over the same period, the value of EU car imports substantially increased (+15.6%) to a total of €53 billion. Also, OICA estimated that commercial vehicle sales reached 27 million in 2019 from 25 million in 2017. Thus, flourishing automotive industry and various government restrictions for reducing GHG emissions from combustion of fuels are expected to drive the growth of the dodecanol market. For instance, The Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule for both passenger cars and light trucks, issued by NHTSA and EPA in March 2020, sets tough but feasible fuel economy and carbon dioxide standards that increase 1.5% in stringency each year from model years 2021 through 2026.
Dodecanol Market Segment Analysis - Geography
Asia Pacific holds the largest share in the dodecanol market with a share of more than 45% in 2019. The growing infrastructural development, rising per capita income of the individuals, higher domestic demand along with the availability of low-cost labor is expected to drive the demand for dodecanol in the region. Dodecanol is used as a fiber softener and anti-wrinkle agent in textile industries. Increasing demand for apparel and expansion of textile industries across the country is aiding the growth of market. According to Indian Brand Equity Foundation (IBEF), India’s textile and apparel exports accounted for US$ 38.70 billion in 2019 and is expected to increase to US$ 82.00 billion by 2021, subsequently augmenting the demand of dodecanol for the enhancing the properties of textile fabrics. In addition, dodecanol are also used as disinfectant and additive for ointment base and cream conditioners in healthcare. In 2019, the government of Malaysia allocated a sum of US$ 7 billion to the public health sector, an increase of 7.8 per cent from 2018. In 2019, Australian Government announced a $5 billion, 10-year investment plan for the Medical Research Future Fund (MRFF) as a part of its 2019–20 budgets to support Australian health and medical research. Thus, increasing healthcare investments in various regions of APAC will boost the healthcare sector, which in turn fuel the demand for dodecanol.
Dodecanol Market Drivers
Growing demand from agriculture industry
Dodecanols are extensively used in apple and pear orchards as a Lepidopteran pheromone/sex attractant and also disrupts the mating behavior of certain moths whose larvae destroy crops. Surging use of dodecanol from agriculture sector in the formulation of insecticides, pesticides, and plant metabolite drives the growth of the dodecanol market. The decrease in agricultural land due to rapid urbanization in developing nations further proliferate the need for pesticides for better crop quality and higher yield. For instance, China’s Ministry of Natural Resources estimated that country’s arable land declined by 60,900 hectares and fell to 134.86 million hectares in 2017. In addition, government initiatives to boost the agriculture sector and meet the growing food demand also contribute to the market growth. In 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. Also, in April 2020, the governments of Canada and Ontario invested up to $2.5 million for the expansion of agri-food sector. Therefore government support to flourish the agricultural sector may increase the demand for agrochemicals and augments the growth of dodecanol market.
Growing fashion industry and changing life style
Increasing disposable income and adoption of western culture in emerging economic nations has boosted the growth of fashion industry. Dodecanol has a floral odor and are used in deodorants. Dodecanol are used as emulsifier and wetting agents in creams, lotions, and hair products like shampoo and hair dyes. Surging demand for antiperspirants and colorful apparels is augmenting the growth of dodecanol market. According to Trade Map, global spending on import of apparels and clothing accessories increased by 9% accounting for $ 4,741,531 in 2018. Huge spending of youth on apparels fashion products is augmenting the market.
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Dodecanol Market Challenges
Growing popularity of electric vehicles and Emergence of COVID-19
Escalating demand for electrical vehicles to lower the dependency on crude oil further hampers the dodecanol market. According to Edison Electric Institute (EEI), electric vehicles on the U.S. roads will reach 18 million by 2030, significantly lowering the demand of dodecanol for fuel additives. In addition, Dodecanol also exhibits non-polar narcotic toxicity to aquatic organisms of about 1 mg/l, restraining the market growth.
The outbreak of COVID-19 has negatively impacted the dodecanol market. Disruption of supply chain and decrease in purchasing capital has directly impacted the automotive, construction, and textile industries. The abrupt closure of production centers in China, and its impact caused chaos among global auto manufacturers in European Union, the US, India, and South America region. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales declined by 51% whereas commercial vehicles sales decreased by 88% in India in March 2020. Decrease in automotive sales lower the demand of dodecanol for fuel additives and lubricating oil. Falling-off construction activities also hampers the growth of dodecanol market. However, increasing health concerns has accelerated demand of dodecanol for disinfectants and cleaning products which may bolster the dodecanol market growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the dodecanol market report. In 2019, the market of dodecanol has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the dodecanol market are SIGMA-ALDRICH Corporation, Santa Cruz Biotechnology, Inc., Haihang Industry Co., Ltd., East Chemical Industry Co., Ltd, Symrise AG, Magna-Kron Corp., Chemos GmbH, Merck Schuchardt OHG, Leap Labchem Co., Ltd, Jinan Haohua Industry Co., Ltd., AK Scientific, Inc., Shanghai IS Chemical Technology Ltd., Seidler Chemical Co., Inc., CellMark USA, LLC and Mosselman S.A, among others.
Key Takeaways
Rising popularity of electric vehicles and volatile prices of oil hampers the growth of the dodecanol market.
Lockdown and disruption of supply chain due to coronavirus pandemic also slowed the growth of dodecanol market.
Growing fashion trend and increasing health concerns globally is expected to drive the growth of this market.
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