The Global Oleochemicals Market by valued stood at USD 24850 million and by volume amounted to 16640 thousand tonnes in the year 2019. The Global Oleochemicals Market has been witnessing unprecedented growth primarily driven by the growth in food industry. Advancement in processed foods, marketing strategies of companies, and consumer awareness in emerging economies driving the food industry globally and therefore, the increase in demand for biodegradable products is anticipated to influence the growth of Oleochemicals market throughout the forecast period. Rising demand for Oleochemicals from natural raw materials is another factor driving the Oleochemicals market. Biodegradability of products has become a popular trend owing to stringent regulations towards maintaining product quality and health risk which promotes the use of natural raw material derived products such as Oleochemicals. This in turn likely to facilitate the global Oleochemicals market in the forecast period.
The continued push to replace petrochemical-based solutions, new uses and applications based on green chemicals are driving the growth of Oleochemicals market. Oleochemicals are used in wide range of applications including personal care, surfactants, soaps, food additives, and detergents. The key chemical manufacturers including Arkema, Lanxess, BASF, DSM, Solvay, and DuPont have shifted their focus towards using bio-based chemicals for manufacturing polymers. This trend is projected to positively influence the companies involved in developing the downstream potential of various Oleochemicals such as alcohols, fatty acid esters, and glycerol.
Among the Raw Material segment in the Oleochemicals market (Palm Oil & Palm Kernel Oil, Soybean Oil, Rapeseed Oil, Coconut Oil, Animal Fat, Others), Palm Oil & Palm Kernel Oil has been gaining popularity among other Raw Material segments and is expected to keep major market share in the forecast period because they are extensively used in biodiesel which are environment friendly and as people are more concerned about health, thus use of palm oil in Oleochemicals is increasing.
Based on Type (Fatty Acids, Fatty Alcohols and Glycerine), Fatty Acids dominates the market share in year 2019 and is also expected to show dominance during the forecast period, as the demand for Fatty Acids is increasing not only due to its end use applications in terms of bio based products but also the rising consumption of vegetable oil in cooking keeping in mind the availability, affordability and health concerns.
Based on End-Use Sector (Pharmaceutical, Food & Beverages, Detergents & Soaps, Personal Care & Cosmetics and Others), Detergents & Soaps dominates the market share in year 2019 and is also expected to show dominance during the forecast period. The reason for the growth could be that due to changing lifestyle and growth education regarding health and hygiene, there is an increased demand for soaps and detergents which in turn will drive global Oleochemicals market by soaps and detergents segment. Introduction of innovative new product in the soap and detergent is the major factor contributing toward the global soap and detergent growth. Growth of the Detergents and Soaps segment drives the Oleochemicals market.
Scope of the Report
- The report analyses the Oleochemicals market By Value and By Volume.
- The Global Oleochemicals Market has been analysed by Region (Americas, Europe, Asia Pacific) and by Country (United States, Brazil, Germany, France, India, Indonesia, China, Malaysia)
- The report analyses the Oleochemicals market by Raw Material (Palm Oil and Palm Kernel Oil, Soybean Oil, Rapeseed Oil, Coconut Oil, Animal Fat, Others).
- The report assesses the Oleochemicals market by Type (Fatty Acids, Fatty Alcohols and Glycerine).
- The report assesses the Oleochemicals market by End-Use Sector (Pharmaceutical, Food & Beverages, Detergents & Soaps, Personal Care & Cosmetics and Others).
- The attractiveness of the market has been presented by region, raw material, type and end-use sector. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, key developments in the market, new product development, policy regulation and product chain analysis. The companies analysed in the report include Wilmar International Ltd, Eastman Chemical Co., BASF, Evonik Industries, Procter & Gamble Co, Cargill Inc., Godrej Chemicals, Pacific Oleo chemicals Sdn Bhd, Kuala Lumpur Kepong Bhd, PTT Global Chemical Public Company Limited.
- The report presents the analysis of Oleochemicals market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- Oleochemicals Manufacturers and Suppliers
- Consulting and Advisory Firms
- Government and Policy Makers
- Investment Banks and Equity Firms
- Regulatory Authorities