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Myristyl Alcohol Market to showcase significant growth in the pharmaceutical industry

Author : Ronak Bora | Published Date : 2019-04-11 

Myristyl Alcohol Market Report added by Global Market Insights, Inc. offers industry size, share, growth, trends and forecast analysis up to 2024. The market report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global myristyl alcohol market and provides information regarding the revenue for the period 2018 to 2024.

Global Myristyl Alcohol Market size is likely to witness significant growth, expanding at a moderate CAGR over the forecast period. Myristyl alcohol, chemical name 1- Tetradecanol, is a straight chain saturated fatty alcohol. It is a transparent white solid which is completely soluble in diethyl ether, marginally soluble in ethanol and insoluble in water.

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Rising disposable income, growing consumerism and increased health awareness among consumers, have been the prime drivers for cosmetics industry. Any trend in this industry will have a direct impact on the myristyl alcohol market size over the forecast timespan. Moreover, developing countries are heavily investing in pharmaceutical sector to battle out rising number of ailments and health related issues. This inclination towards pharmaceutical industry will further push the product demand in the coming years.

Detergent industry is also witnessing prominent gains due to increasing demand in emerging economies, which can be attributed to improved standard of living coupled with growing concerns for health and hygiene. This is expected to boost the overall market size in the years to come. However, growing prevalence of substitutes in industry along with oscillating raw material prices is likely to be the major challenge for myristyl alcohol market share over the forecast timespan.

Other uses of the product include synthesis of theranostic systems which have exclusive characteristics of photoacoustic imaging. The product has a key role in filling of hollow cores of gold nanocages. It is also widely used in foaming agents which are used in surfactants (fatty alcohol sulfates & ethoxy sulfates and ethoxylates) in detergent manufacturing. Moreover, huge quantities of the product are used as special solvents and fillers in insulating materials & plasticizers for the construction industry.

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Asia Pacific is expected to be the fastest growing region for the myristyl alcohol market over the forecast period, followed by North America and Europe. India and China were the prominent users of the product in Asia Pacific owing to the growing presence of end-user industries in these countries.

Pharmaceutical and chemical manufacturing companies are prime consumers of myristyl alcohol market. The prominent players operating in the business are KLK OLEO, Emery Oleochemicals, Ecogreen Oleochemicals, The Good Scents Company, Sigma-Aldrich, P&G Chemicals and KAO Corporation. Other companies include Triveni Chemicals, Mosselman, Leonardo Biosystems Inc., GB Biosciences Corporation and many other small and medium scale companies.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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