Oleochemicals Market is accounted for USD 27,179 million in 2020, growing at a robust CAGR of 4.9% during forecast period

Introduction of the Oleochemicals Market Report

Oleochemicals are chemical compounds derived from natural fats and oils that can be used as supplemental materials in a variety of industries including lubricant, pharmaceutical, plastic, rubber, and animal feed industries. Oleochemical substances including fatty acids, methyl esters, fatty alcohols, fatty amines, and glycerols are obtained by chemical and enzymatic reactions and can be used as substitutes for petroleum-based products.

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Market Dynamic

Key Drivers and Emerging Trends

The growing market for green chemicals, rising depletion of non-renewable resources, the high price of crude oil coupled with the increasing number of manufacturers switching from petrochemicals to oleochemicals are some of the major factors driving the growth of the oleochemicals market size over the forecast period. Additionally, oleochemicals are used in a wide range of products and industries including metalworking lubricants, additives for plastics, rubber and paper production, automotive lubricants, greases, fuel additives, and personal care products.
Moreover, the increasing focus on the use of inexpensive and renewable feedstocks including microbial lipids and palm to produce oleochemicals with high biodegradability, renewability, low toxicity, and low environmental impact is further expected to provide opportunities to the growth and development of the oleochemicals market share over the forecast period.

Restraint in the Oleochemicals Market

However, fluctuating prices of raw materials is one of the major factors expected to hamper the growth of the oleochemicals market.

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Type – Segment Analysis

Based on the type, fatty acids are expected to hold a prominent share in the oleochemicals market over the forecast period owing to their increased demand from industries for applications including a degreasing agent for machinery, conditioner for leather goods, lubricant for metals, and wax to polish wood. Moreover, fatty acids are one of the major oleochemicals derived from animal and vegetable oils and fats and utilized in candles, animal feed, cleaning parts, surfactants, vulcanizing agents for rubber, manufacturing of synthetic resin, waterproof cement, and others.

Application – Segment Analysis

Based on the application, personal care & cosmetics are expected to grow at a substantial CAGR over the forecast period primarily due to the growing organic cosmetics industry, and the rising demand for eco-friendly and natural personal care products. Moreover, haircare, skincare, and other cosmetic product using natural ingredients tend to be less harmful and elicit better results than cosmetics using petrochemicals. This is further expected to promote the demand for oleochemicals.

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Regional – Segment Analysis:

Asia-Pacific is expected to account for a high share in the oleochemicals market over the forecast period. This can be attributed to the rapid expansion of the end-use industries including healthcare, food & beverages, cosmetics, and others, and the rising demand for bio-based polymers and sustainable plastics. Moreover, Asia-Pacific is one of the largest consumers of oleochemicals, and countries including Indonesia and Malaysia are some of the major producers of feedstocks for oleochemicals. The presence of leading companies including IOI Corporation Berhad, Wilmar International, and Kao Corporation is further promoting the development of the oleochemical industry.

Top Market Players

Several leading Oleochemicals companies operating in the market, include Emery Oleochemicals, BASF SE, Evonik Industries AG, Cargill Incorporated, Oleon N.V., IOI Corporation Berhad, Wilmar International, Kao Corporation, Twin Rivers Technologies, Inc., and Croda International Plc, and others.

Key Developments:

• • In 2022, Emery Oleochemicals’ Green Polymer Additives Business Unit became a member of the Metal Injection Molding (MIM) Expert Group primarily for expanding the business network.
• • In 2021, Emery Oleochemicals announced the updated new website for its Bio-Lubricants business unit. This launch is focused on optimizing the company’s online presence.

Segments covered in the Report:

The global Oleochemicals market has been segmented on the basis of type, application, and key regions. Based on the type, the market is segmented into fatty acid, fatty alcohol, methyl ester, glycerol, and others. Based on application, the market is segmented into pharmaceuticals, personal care & cosmetics, food & beverages, soap & detergents, polymers, and others.

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Key questions answered in this research report:

• • At what pace is global Oleochemicals market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Oleochemicals Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Oleochemicals Market?
  • Which application generated maximum revenues in 2020 and identify the most promising application during the forecast period?
  • What are the various types of global Oleochemicals Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Oleochemicals Market by Type

• • Fatty Acid
  • Fatty Alcohol
  • Methyl Ester
  • Glycerol
  • Others

Global Oleochemicals Market by Application

• • Pharmaceuticals
  • Personal Care & Cosmetics
  • Food & Beverages
  • Soap & Detergents
  • Polymers
  • Others

Global Oleochemicals Market by Region

• • North America Oleochemicals Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Oleochemicals Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Oleochemicals Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Oleochemicals Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Oleochemicals Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Emery Oleochemicals
  • BASF SE
  • Evonik Industries AG
  • Cargill Incorporated
  • Oleon N.V.
  • IOI Corporation Berhad
  • Wilmar International
  • Kao Corporation
  • Twin Rivers Technologies, Inc.
  • Croda International Plc.