Oleochemicals Market size worth $ 49.03 Billion, Globally, by 2030 at 6.45% CAGR: Verified Market Research®

The demand for specialty esters is increasing in end-use industries such as personal care and cosmetics, and the growing need for sustainable and biodegradable products to reduce its dependence on petrochemical products is expected to drive market expansion.

JERSEY CITY, N.J. , June 15, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Oleochemicals Market" By Product (Fatty Acids, Fatty Alcohols), By Application (Plastics, Coatings), and By Geography. According to Verified Market Research, the Oleochemicals Market size was valued at USD 29.85 Billion in 2021 and is projected to reach USD 49.03 Billion by 2030, growing at a CAGR of 6.45% from 2022 to 2030.

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Browse in-depth TOC on "Oleochemicals Market"

202 - Pages

126 – Tables

37 – Figures

Global Oleochemicals Market Overview

Manufacturers are turning to oleochemicals as a renewable, sustainable alternative in the chemical sourcing industry to meet consumer demands. Bio-based chemical manufacturing is important in markets that prioritize functionality, and demand for sustainable sourcing will rise as the global population grows. As the demand for environmentally friendly products grows and the price of oil rises, the need for oleochemicals will rise as well. The growing demand for bio-based plastics is likely to boost the market growth. Oleochemicals are a low-cost, widely available alternative to industrial chemicals and fuels. These environmental and economic advantages are driving up demand for oleochemicals all around the globe.

Owing to rising crude oil prices and the affordability of plant-based lauric oils produced from palm kernels, manufacturers began switching from petrochemicals to oleochemicals in the late 1970s. Fatty acids, the most widely used oleochemical, and other basic oleochemical substances are produced by a variety of chemical and enzymatic reactions. However, volatility in the feedstock market restrains the Oleo Chemicals Market growth. Furthermore, oleochemicals are used in a wide range of applications, and several emerging oleochemical uses are replacing petroleum-based products, offering a significant growth opportunity for global Oleochemicals industry players.

Key Developments

• In August 2021, Emery Oleochemicals announced that they launch New Website for Bio-Lubricants Business Unit.
• In 2018, P&G announced that they acquire German Merck's consumer health business for about $4.21 billion. P&G said the acquisition had been agreed upon and would enable it to expand its portfolio of consumer healthcare products.

Key Players

The major players in the market are Croda, Wilmar International, Emery Oleochemicals, IOI Group, Musim Mas Group, VVF, Kao, BASF, Unilever Oleochemical Indonesia, New Japan Chemical, KLK OLEO, P&G Chemicals, Cargill, and Godrej Industries.

Verified Market Research has segmented the Global Oleochemicals Market On the basis of Product, Application, and Geography.

• Oleochemicals Market, By Product
• Fatty Acids
• Fatty Alcohols
• Methyl Ester
• Glycerol
• Others
• Oleochemicals Market, By Application
• Soaps & Detergents
• Intermediates
• Plastics
• Coatings
• Lubricants
• Rubber
• Personal Care
• Others
• Oleochemicals Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 10 Cosmetics Companies polishing the appearance to give a royal look

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