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CHICAGO, UNITED STATES, October 19, 2022 / / -- The size was US$ 27,294.7 million in 2021. The global oleochemicals market is expected to grow to US$ 39,849.2 million by 2027 by registering a compound annual growth rate (CAGR) of 6.5% during the forecast period, i.e., 2022-2027. In terms of volume, the global oleochemicals market is expected to grow at a compound annual growth rate (CAGR) of 6.2% over the forecast period.
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Oleochemicals are obtained from animal oil, vegetable oil, or fats, majorly by splitting the triglyceride structure of oils and fats. Glycerol, fatty alcohols, and fatty acids are the widely used oleochemicals that are used across various industry verticals, such as food & beverages, healthcare & pharmaceuticals, cosmetics, textiles, etc.
Market Dynamics
Growing government regulations mandating the use of environmentally friendly products, combined with the growing use of these chemical compounds in medical and cosmetic industries, will pave the growth path for the global oleochemicals market. These chemical compounds are regarded as sustainable and biodegradable in nature, which will add up opportunities for industry growth in the coming years. The demand for personal care products, such as soaps, detergents, and other consumable goods, is witnessed to rise significantly. Apart from that, stringent environmental regulations implemented by government authorities, combined with the steady reduction in the availability of non-renewable resources will open doors of opportunities for the oleochemicals market during the study period.
However, the high cost associated with oleochemicals may limit the market's growth during the study period.
Market Segmentation
Based on Product, the fatty acids segment is leading with the highest market share
On the basis of product type, the fatty acids segment is leading with the highest market share of 42.2%, which will also register the highest growth rate of 6.2% during the forecast period. The growth of the fatty acids segment is attributed to the factors like growing demand for fatty acids from pharmaceutical & personal care products manufacturers. Fatty acids are the major component required in the production of soaps and detergents, lubricants, surfactants, and pharmaceuticals.
Based on application, the healthcare & pharmaceuticals segment to grow at the highest growth rate
Based on application, the oleochemicals market is expected to witness the highest contribution from the healthcare & pharmaceuticals segment. It is owing to the fact that oleochemicals enhance the formation of foams in soaps, detergents, and other cleaning products. Moreover, the demand for oleochemicals will also increase due to their biodegradability.
The direct segment dominated the Global Oleochemicals Market Share in 2021
Based on sales channel, the oleochemicals market is bifurcated into direct and indirect. The direct segment is estimated to have the highest market share during the forecast period. The direct sales channel is being utilized in order to have improved relationships with customers. Also, the rise in the number of direct sales channel options for the delivery of oleochemicals at end-use facilities further promotes the demand for a direct sales channel, which drives the market growth globally. The indirect segment is expected to grow at the fastest CAGR of 7.5% over the forecast period.
The Asia-Pacific oleochemicals market leads with the highest market share
The demand for personal care products, such as soaps, face washes, detergents, etc., is also increasing swiftly in Asia-Pacific. Therefore, this regional oleochemicals market will also register the highest growth rate of 6.9% during the forecast period. Moreover, the highly advanced pharmaceutical and personal care sectors in developing countries like India, China, and
Indonesia, are outlining the scope of oleochemicals in the region. Further, the rapidly improving manufacturing sector and the presence of a large number of manufacturers will contribute to the industry's growth in the coming years. Europe's oleochemicals market is expected to emerge as the second-leading regional market in the coming years.
Company Profile
Emery Oleochemicals, an oleochemicals-producing company based in Malaysia, is known for its product offerings based on bio-based polyols, bio-lubricants, fatty acids, fatty alcohols, glycerin, natural-based chemicals, customizable specialty chemical solutions, natural-based agrichemicals, esters, bio-pesticides, plastic additives, sustainable chemicals, value-added chemicals, and high-quality specialty chemicals. The firm has been offering natural-based solutions for more than 180 years.
FGV Holding Berhad delivers oil palm and rubber plantation products, oleochemicals, and a vast range of sugar products. The firm operates in around 9 countries, maintaining a strong presence in Asia, the Middle East, North America, and Europe
IOI Corporation Berhad is a renowned palm oil producer that works on an upstream plantation in Indonesia and Malaysia. The firm is dealing in the palm oil market since 1961 and excels in agronomic practices.
Competitive Landscape
Some of the major industry players profiled in the global oleochemicals market report are Cargill, Corbion N.V, Oleon, KLK Oleo, IOI Group, Wilmar International, Kao Corporation, Godrej Industries, Ecogreen Oleochemicals, Evonik Industries AG, Emery Oleochemicals, etc.
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Segmentation Overview
Global Oleochemicals Market is segmented based on product, application, sales channel and region. The industry trends in global oleochemicals market are sub-divided into different categories in order to get a holistic view of the global oleochemicals market.
Following are the different segments of the Global Oleochemicals Market:
By Product:
Alkoxylates
Fatty Acid Methyl Ester
Fatty Amines
Glycerol Esters
Fatty Acids
Fatty Alcohols
Glycerine
Triacetin
Specialty Esters
Others
By Application:
Consumer Goods
Food & Beverages
Healthcare & Pharmaceuticals
Industrial
Paints & Inks
Personal Care & Cosmetics
Polymer & Plastic Additives
Soap and Detergents
Textiles
Others
By Sales Channel:
Direct
Indirect
By Region:
North America
U.S.
Canada
Mexico
Europe
Western Europe
UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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