Lanolin Alcohol Market to Witness Exponential Growth by 2024

Lanolin alcohol is manufactured from hydrolysis of lanolin. It is an important component of surface active agents in various skin smoothening and nourishing creams. It acts as a viscosity enhancer in these formulations. Lanolin alcohol is manufactured by using an alkaline treatment on the lanolin; which is then followed by removal of released soaps. It is refined further by a multi-stage distillation process to improve its odor and color. This process produces a purified, semi-crystalline and almost colorless wax. The composition of lanolin alcohol is sterols and triterpene alcohols such as cholesterol, agnosterol, lanosterol and their derivatives.

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Rising demand for lanolin alcohol from personal care and cosmetics industry is anticipated to drive the market. Lanolin alcohol is a refined derivative of lanolin and it contains various lipids that are physiologically close to human skin layers, which makes highly compatible to human skin. Emulsifying capabilities of the lanolin alcohol are stable across a wide pH range which makes it an ideal choice as an emulsifier in face and hair bleaching agents. Furthermore, increasing usage of lanolin alcohol in pharmaceutical industry is expected to boost the market growth. Lanolin alcohol has wound healing capability and hence it has various applications in the pharmaceutical and medical industries.

However, the Food and Drug Administration’s regulations over the usage of lanolin alcohol in use of personal care and cosmetic products are expected to hamper the market growth. Additionally, fluctuating raw material prices is likely to affect the lanolin alcohol market growth negatively. Technological advancements and product developments in the lanolin alcohol formulations for personal care, cosmetics and pharmaceutical applications are expected to provide immense opportunities for the players in the market.

In terms of demand, Asia Pacific was the largest market for lanolin alcohol and is also expected to be the fastest growing over the forecast period. China dominated the demand for lanolin alcohol in the region. India, South Korea and countries in Southeast Asia are expected to exhibit higher demand for lanolin alcohol owing to rise in personal care industry. Adoption of western lifestyle and increasing per capita income were among the key factors for the growth in personal care industry. North America and Europe followed Asia Pacific in terms of demand.

The U.S. dominated the demand in North America owing to increasing demand for lanolin alcohol personal care and cosmetics industry. Western Europe that comprises Germany, Italy, the U.K., France and Spain contributed significantly to the demand of lanolin alcohol. Central & Eastern Europe are expected to provide immense opportunities for the players in the lanolin alcohol market. Rest of the World (RoW) that comprises Latin America, Africa and the Middle East is likely to exhibit potential growth for the lanolin alcohol. Brazil and Saudi Arabia are considered as major contributors.

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Global lanolin alcohol market exhibits moderate level of consolidation. Procurement of raw material and secure supply are the major concerns for the players in the market. Major players have long term agreements with companies in the end-user industries, which increases the entry barriers for new entrants. Furthermore, formulations of lanolin alcohol are patented by majority of the companies and new entrants would need to develop own formulations through research & development activities. This fact makes the market capital intensive. Key players in lanolin alcohol market include Surfachem Group Ltd, The Lubrizol Corporation, Nanjing Lanbai Chemical Co., Ltd., Hydrite Chemical Co. and Lanaetex Products, Inc.

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