Oleochemicals Market Size to Reach Revenues of USD 38.58 Billion by 2026 - Arizton

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Oct 25, 2021, 09:00 ET

CHICAGO, Oct. 25, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global oleochemicals market report.

The oleochemicals market is expected to grow at a CAGR of over 5.74% during the period 2020−2026.

Key Highlights Offered in the Report:

APAC dominated the global oleochemicals market, followed by Europe in 2020.
Soaps and detergents are the largest segment in the global oleochemicals market and accounted for more than 51% share in 2020. Stringent government regulations and consumer perception against synthetic chemicals in soaps and detergents will fuel the growth of oleochemicals in the soaps and detergents segment.
Increasing demand for bio-degradable and green chemicals is fueling the demand for oleochemicals in various end user products. Rising emissions due to petrochemicals products have raised concerns for the protection of the environment and natural resources and the use of biodegradable chemicals is driving the demand for oleochemicals.
Rising usage of fatty acids have put additional pressure on other oleic acids with a growing number of countries focusing on these second-generation biofuels instead of traditional crop based fatty acids.
To capitalize business opportunities in APAC region, chemical companies are exploring partnerships/mergers with oleochemicals companies or planning to forward/backward integration themselves.
A major growth driver for market is a considerable increase in awareness for personal care and personal wellness among consumers. This in turn has increased the market for oleochemicals in personal care and cosmetics product.
Chemical companies should explore the business of oleochemicals and its derivative related to easily available feedstocks such as palm oil and soybean oil. Companies can explore manufacturing downstream products or position themselves to supply to the entire value chain.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by type, application, raw material, and geography
Competitive Landscape – 5 key vendors and 20 other vendors

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Oleochemicals Market – Segmentation

The fatty acids market is expected to witness a CAGR of 6.16% during the forecast period. The major factors driving the growth of the market are the increasing demand for glycerin to manufacture glycol and epichlorohydrin, government regulations promoting the use of eco-friendly products, and increasing demand from the personal care & cosmetics market.
Oleochemicals in detergents are used to produce more lather and boost cleansing properties. With the increasing concerns over the environment-friendliness of oleochemicals, manufacturers are promoting the adoption of oleochemicals across all detergents, i.e., liquid and powder.
Oleochemicals derived from tropical oils are important raw materials for the chemical industry. Tropical oils are biodegradable and environment-friendly, which has been the preference of many consumers around the world. Oleochemicals derived from tropical oils are used to produce ingredients such as surfactants, emulsifiers, and solvents for various industrial applications.

Oleochemicals Market by Type

Fatty Acids
Fatty Alcohols
Glycerin
Methyl Ester
Others

Oleochemicals Market by Application

Soaps and Detergents
Personal Care and Cosmetics
Pharmaceuticals
Food and Beverages
Others

Oleochemicals Market by Raw Material

Tropical Oil
Animal Oil

Oleochemicals Market – Dynamics

The demand for biodegradable and renewable materials for packaging applications has increased significantly and will continue to do so throughout the forecast period. This rise in demand is associated with growing environmental concerns over extensive use of synthetic and non-biodegradable polymeric packaging, polyethylene. Oleochemicals are seen as an alternative to synthetic additives in polymers. Natural polymers are attractive alternatives for non-biodegradable and petroleum-based or synthetic plastic packaging material, owing to their green features. Among various biopolymers, cellulose and starch are particularly abundant. In conjunction with their renewable, inexpensive, environmentally friendly, biodegradable, and biocompatible features, those biopolymers have become increasingly popular. Oleochemical additives in biopolymers can be used to substitute non-biodegradable plastics to reduce the environmental impact and petrochemical dependence. As alternative bio-packaging materials, biopolymers allow the packaging material to be biodegradable or compostable completely.

Key Drivers and Trends fueling Market Growth:

Increasing Demand for Green Chemicals
Easy Availability of Raw Materials
High Demand from Consumer Markets

Oleochemicals Market – Geography

APAC is the largest exporter of oleochemicals and has the biggest domestic market. APAC has registered a CAGR of 6.09% in the forecast period. APAC countries such as Indonesia and Malaysia are rich in palm oil and palm kernel oil, whereas India is the third-largest producer of high erucic rapeseed oil and the world's largest producer of castor oil. Chemical manufacturers are exploring the oleochemical derivatives market related to these feedstocks. Companies are establishing themselves as manufacturers of value-added products or positioning themselves to cater to the entire value chain. APAC is not only a major producer but also a major consumer of oleochemicals in various products such as personal care & cosmetics, pharmaceuticals, and soaps & detergents. APAC will account for the majority of production and world consumption in the forecast period.

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Oleochemicals Market by Geography

North America

US
Canada

Europe

Germany
UK
France
Italy
Spain

APAC

Indonesia
Malaysia
India
China
Philippines

Latin America

Brazil
Argentina

Middle East & Africa

Saudi Arabia
UAE
South Africa

Major Vendors

BASF
Croda International plc
Evonik
Wilmar
Emery oleochemicals

Other Prominent Vendors

Cargill
Kuala Lumpur Kepong Berhad
Kao Corporation
Nouryon
Stepan
Eastman Chemical Company
Corbion
IOI Oleochemical
SABIC
Godrej Chemicals
Ecogreen Oleochemicals
Vantage Specialty Chemicals
Oleon Nv
Chemrez Technologies
JNJ Oleochemicals
Sakamoto Yakuhin Kogyo
Archer Daniels Midland Company (ADM)
Terravia
P&G Chemicals
AkzoNobel

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