Pune, India, Aug. 31, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global oleochemicals market is anticipated to accrue USD 11 billion by 2028, recording a CAGR of 5.4% through the forecasted period. Rising consumption of sustainable, renewable, and bio-based chemicals in food & beverages, personal care & cosmetics, pharmaceuticals, and other industries is driving the overall market growth.
Additionally, the document focuses on the competitive landscape and related driving factors like business profiles, product offerings, and other strategic developments. These predictions are derived using primary and secondary research techniques.
For those unaware, oleochemicals are chemical substances made from natural fats and oils that can be employed in a range of industries as either raw materials or supplementary ingredients. The personal care, cosmetics, coatings, adhesives, elastomers, sealants, industrial and domestic cleaning, lubricants, grease, metalworking, food, pharmaceutical, and nutraceutical industries are just a few of the many industries that employ these compounds.
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The high cost of petrochemical goods and consumers' evolving preferences for eco-friendly goods will also increase product demand. Moreover, the usage of oleochemicals in terms of fatty acids, which are used for the manufacturing of soaps and detergents, lubricants, varnishes, surfactants, and pharmaceuticals, is also poised to propel global oleochemicals market growth over 2022-2028.
A summary of market segmentation
Worldwide oleochemicals marketplace is segmented into raw material type, application scope, product scope, and regional bifurcation. By raw material type, the market is split into tropical oil and animal oil. In terms of application scope, this marketplace is bifurcated into food & beverages, personal care & cosmetics, coatings & inks, pharmaceuticals, soaps & detergents, polymer& plastics, and others.
Based on product type this business space is bifurcated into fatty acids, glycerin, fatty alcohols, methyl esters, and others.
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Elaborating regional landscape
In terms of regional terrain, this global oleochemicals industry vertical spans Europe, Asia Pacific, North America, and Rest of the world. Asia Pacific market is expected to generate lucrative revenues over the forecast duration due to the widespread adoption of sustainable plastics in various end-user industries and growing demand for raw materials, such as fatty acids and other bio-based polymers.
From the North America oleochemicals market, the U.S. is poised to amass sustainable returns by the end of 2028 owing to the expansion of multiple end-user industries, such as personal care & cosmetics and pharmaceuticals.
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Global Oleochemicals Market by Raw Material (Revenue, USD Billion, 2018-2028)
- Animal Oil
- Tropical Oil
Global Oleochemicals Market by Product Type (Revenue, USD Billion, 2018-2028)
- Fatty acids
- Fatty alcohols
- Glycerin
- Methyl esters
- Others
Global Oleochemicals Market by Application Scope (Revenue, USD Billion, 2018-2028)
- Food & beverages
- Coatings & inks
- Personal care & cosmetics
- Pharmaceuticals
- Polymer& plastics
- Soaps & detergents
- Others
Global Oleochemicals Market by Regional Terrain (Revenue, USD Billion, 2018-2028)
- Asia-Pacific
- Europe
- North America
- Rest of the World
Global Oleochemicals Market by Competitive Landscape (Revenue, USD Billion, 2018-2028)
- AAK AB
- Wilmar International Ltd.
- Oleon NV
- Oxiteno S.A.
- IOI Corp Bhd.
- Kao Corporation
- Ecogreen Oleochemicals GmbH
- Archer-Daniels-Midland Company
- BASF SE
- Cargill Inc.
- Vantage Specialty Chemicals Inc.
- VVF Limited
- PMC Group Inc.
- Sasol Limited
- CREMER OLEO GmbH & Co. KG
- Croda International plc
- Emery Oleochemicals (M) Sdn. Bhd
- Evonik Industries AG
- Kuala Lumpur Kepong Berhad
- P&G Chemicals (Procter & Gamble Company)
- Twin River Technologies Inc.
Table of Contents:
FIGURES AND TABLES
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY RAW MATERIAL
- Animal oil
- Tropical oil
PART 6. MARKET BREAKDOWN BY PRODUCT
- Fatty acids
- Fatty alcohols
- Glycerin
- Methyl esters
- Others
PART 7. MARKET BREAKDOWN BY APPLICATION
- Food & beverages
- Coatings & inks
- Personal care & cosmetics
- Pharmaceuticals
- Polymer& plastics
- Soaps & detergents
- Others
PART 8. MARKET BREAKDOWN BY REGION
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
PART 9. KEY COMPANIES
Related Report:
Global Specialty Oleochemicals Market Size and Regional Forecasts 2021-2027
Global Specialty Oleochemicals Market to reach USD 36.20 billion by 2027.Global Specialty Oleochemicals Market is valued approximately USD 21.54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.7 % over the forecast period 2021-2027. Oleochemicals are obtained mainly from plant oils and are widely used to produce cosmetics, lubricants and other chemical products. Growing food processing industry and rising demand for organic products are key drivers for the growth of Specialty Oleochemicals market. According to Statista in 2020, the global food market generated over USD 8 in revenue, an increase of over USD 1 trillion from 2019 and the food revenue worldwide will continue to increase over the next years and is expected to reach around USD 9.1 trillion till 2025.
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