April 2020
BWC20058

163
oleochemicals market wc20058
Global Oleochemicals Market size- Industry Trends &
Forecast Report 2026
The global
market of Oleochemicals Market has reached USD 21.4 Billion in 2019 and projected
to reach USD 35.7 Billion by 2026 with a significant CAGR of 7.6% during the
forecast period 2020-2026. Promising government policies regarding financial incentives and
tax benefits for bio-based chemical producers are positively influencing the
industry growth.
The biodegradability of oleochemicals has gained significant popularity specifically
in the food industry where it is extensively used as emulsifiers in food
products such as, cake, bread, confectionary, and others. The application development along with
product innovation will offer potential opportunities for companies operating
in the industry during the forecast period.
Global Oleochemicals Market: Overview
Oleochemicals are natural compounds
derived from the hydrolysis of natural vegetable oil, such as sunflower, soybean,
corn; and animal fats, including, rendered fats, tallow, lard and fish. Fatty
acids, glycerine, methyl esters and fatty alcohols are the most common types of
oleochemicals offered in the market. They are biodegradable, environment-friendly,
exhibit low toxicity, and are rapidly replacing conventionally used
petrochemicals. Additionally, oleochemicals find widespread application in the
production of biodiesel, green solvents, bioplastics, while acting as an
intermediary in the pharmaceutical, paint rubber, and lubricant industries.
Growth Drivers
Government regulations for the use of
environmental friendly products
The regulations for environment safety
are becoming more stringent and the non-renewable resources getting depleted,
it has offered the opportunity for oleochemicals to enter the market and
substitute the traditional petroleum based products that are being used
currently. The government strategies as far as tax cuts and monetary motivators
for bio-based concoction makers are positively affecting the market
development. The application improvement along with item development is projected
to open new doors of opportunity for organizations working in the market during
the forecast period. Rising demand for biofuels, bio-lubricants, bio-polymers as
well as consumer demand for environment-friendly bio-based products is driving
the global oleochemicals market.
Consumer preference towards healthy and
nutritious product
The shifting demand of consumers for
healthy and nutritious foodstuffs derived entirely from natural origin is some
of the macroeconomic factors that contributes to drive demand for these
products. The industry has the unexpected potential for profit making due to
depleting fossil fuels sources for oil and this scenario is anticipated to offer
opportunities for higher usage of biodiesel. Therefore, due to these factors
the demand for oleochemical industry is expected to increase over the forecast
period.
Restraint
Volatile prices of bio-diesel
The growing demand for bio-diesel may
cause an increase in biodiesel prices and is expected to directly impact the
overall economics of the products that are made by using oleochemicals, which
might act as a restrictive factor for the oleochemicals market.
Global Oleochemicals
Market:
Type
On the basis of its type, the market is segmented into Fatty
Acids, Fatty Alcohol, Methyl Ester, Glycerol, and Others. The fatty alcohol segment
has witnessed significant capacity additions over the past decade due to its increasing
demand in soaps & detergents, lubricants, and personal care chemical
industries.
Global Oleochemicals
Market:
Application
On the basis of its application, the market is segmented into Pharmaceuticals, Personal care & Cosmetics, Food & Beverages, Soap & Detergents, Polymers, and Others. Soaps and detergents segment is anticipated to account for the highest usage of oleochemicals in terms of volume. Oleochemicals are broadly used in soap and detergents with several industrial and domestic applications and in specialty surfactants. This contributes to the growth of the segment.
Global Oleochemicals
Market: Regional Insights
On the basis of regional analysis, the global artificial intelligence in food and beverages market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The Asia-Pacific region is projected to be the fastest-growing region owing to the easy availability of required raw material and various development of newer applications for the product. Japan, China, and India are the key nations with a huge demand for oleochemicals.
Competitive Landscape
Oleochemicals market is fragmented owing to the presence of number of large-sized companies, mid-sized & small-sized companies, and many start-ups that provide oleochemicals industry. However, the companies that hold the majority share of oleochemicals market are AkzoNobel N.V., Evonik Industries, Kao Corporation, Emery Oleochemicals, Wilmar International, Kuala Lumpur Kepong Berhad, BASF SE, IOI Group Berhad, Evyap, Cargill, Ecogreen Oleochemicals, Vantage Specialty Chemicals, Chemrez Technologies, Inc., Genomatica, Godrej Industries, JNJ Oleochemicals Inc., Sakamoto Orient Chemicals Corporation(SOCC), Stepan Company, Pan Century Surfactants Inc., Pepmaco Manufacturing Corp., and other prominent players.
Recent Development
· In June 2019, Genomatica had acquired certain assets of the REG Life Sciences division (REG LS) of Renewable Energy Group, Inc. (REGI). The acquisition had increased Genomatica’s ability to make long-chain chemicals from renewable feedstocks. These chemicals (Oleochemicals) are extensively used to make products such as cosmetics, polymers, solvents, fuels surfactants and food ingredients.
· In January 2018, AkzoNobel N.V. expanded its production capacity and upgraded its organic peroxides facility in Mexico to meet the demand while positioning sustainable growth.
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast
– 2020 – 2026 |
Facts
Covered |
Revenue in
USD Billion |
Market
Coverage |
United States,
Canada, Germany, United Kingdom, France, Italy, Spain, Brazil, Mexico,
Argentina, Japan, China, India, Japan, South Korea, Saudi Arabia, UAE, South
Africa |
Product/Service
Segmentation |
By Type, By End-User, By Region |
Key Players |
AkzoNobel N.V., Evonik Industries, Kao Corporation, Emery
Oleochemicals, Wilmar International, Kuala Lumpur Kepong Berhad, BASF SE, IOI
Group Berhad, Evyap, Cargill, Ecogreen Oleochemicals, Vantage Specialty
Chemicals, Chemrez Technologies, Inc., Genomatica, Godrej Industries, JNJ
Oleochemicals Inc., Sakamoto Orient Chemicals Corporation(SOCC), Stepan
Company, Pan Century Surfactants Inc., Pepmaco Manufacturing Corp., and other
prominent players. |
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