Global Oleochemicals Market Is Expected To Grow At A CAGR Of 7.3% Over The Forecast Period (2024 – 2034): A Report By TNR, The Niche Research

(MENAFN- GlobeNewsWire - Nasdaq) A Key Growth Driver of the Global Oleochemicals Market is the Rising Demand for Sustainable, Bio-Based Products in Industries Such as Personal Care, Pharmaceuticals, and Food Processing

Wilmington, Delaware, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Oleochemicals are organic chemicals derived from natural fats and oils, primarily vegetable oils and animal fats. This market has gained significant traction due to the increasing demand for sustainable and biodegradable products. Oleochemicals find applications across various sectors, including personal care, food, pharmaceuticals, and industrial applications.

In the personal care sector, oleochemicals such as fatty acids and glycerin are essential in formulating cosmetics, soaps, and shampoos. For instance, In 2020, Unilever highlighted the incorporation of sustainable palm oil in their formulations, showcasing the environmental advantages of using oleochemical ingredients. The food industry also utilizes oleochemicals as emulsifiers and stabilizers, with products like mono- and diglycerides playing a crucial role in enhancing food texture and shelf life.

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In the pharmaceutical industry, oleochemicals are used in drug formulations and as excipients to enhance product stability and effectiveness. For example, glycerin is commonly used in cough syrups and topical ointments, highlighting the importance of oleochemicals in healthcare. Globally, the oleochemicals market has witnessed substantial growth, with volume sales reaching approximately 14.6 million tons in 2021, and projections indicate a rise to 19.5 million tons by 2026, driven by increasing demand across Asia-Pacific & North America. In 2022, the United States accounted for about 30% of global oleochemical sales, while countries like Indonesia and Malaysia are emerging as key players in palm oil-based oleochemicals, reflecting the geographical shift towards sustainable sources. As industries strive for greener alternatives, the oleochemicals market will continue to expand, underscoring its vital role in a sustainable future.

By Country Malaysia Lead the Global Oleochemicals Market

The Malaysian oleochemicals market is a significant player in the global landscape, primarily due to the country's extensive palm oil production. In 2021, Malaysia produced around 3.8 million tons of oleochemicals, securing its position as one of the leading suppliers worldwide. Oleochemicals are extensively utilized across various sectors. In the personal care industry, they serve as key ingredients in cosmetics and toiletries. For instance, in 2020, KLK Oleo launched its range of sustainable surfactants, catering to brands seeking eco-friendly formulations. These surfactants enhance product performance while aligning with consumer preferences for sustainability.

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Additionally, oleochemicals are vital in the food industry, acting as emulsifiers and stabilizers in processed foods. Firms such as IOI Oleochemical have created mono- and diglycerides, which play a crucial role in enhancing texture and prolonging shelf life in food products. The industrial sector also benefits from oleochemicals, with applications in lubricants and plasticizers. As awareness of sustainability increases, Malaysia's oleochemicals market is well-positioned for growth, fostering innovation and aligning with global trends.

Manufacturers Approaches and Strategies in the Global Oleochemicals Market:

Manufacturers in the global oleochemicals market are increasingly adopting sustainability as a core strategy. Companies like BASF and Kao are innovating product lines that emphasize eco-friendly ingredients, while firms like Wilmar are integrating vertically to control quality and sustainability throughout the supply chain. Investment in research and development, as seen with Cargill, further enhances product offerings and drives innovation in this dynamic market.

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By focusing on sustainability, geographical expansion, and innovative collaborations, these manufacturers are positioning themselves effectively to meet the rising demand for sustainable oleochemical products.

Manufacturer	Approach/Strategy	Examples	Year
BASF SE	Sustainability Focus	BASF has committed to increasing the use of renewable raw materials. In 2021, they introduced their Eco-Label initiative for sustainable product lines.	2021
Innovative Product Development	Introduction of Plantacare 2000 UP, a line of surfactants made from renewable sources for personal care applications.	2020
Wilmar International	Vertical Integration	Wilmar manages the entire value chain, from palm oil plantations to oleochemical production, ensuring quality control and sustainability.	2019
Geographical Expansion	In 2022, Wilmar expanded its operations in Africa, enhancing its market presence in the growing oleochemicals sector.	2022
Cargill, Inc.	Investment in R&D	Cargill has invested heavily in research to develop innovative oleochemical products for food applications, such as emulsifiers for bakery products.	2020
Collaboration and Partnerships	In 2021, Cargill partnered with renewable energy firms to power its production facilities, reducing its carbon footprint.	2021
Kao Corporation	Eco-Friendly Initiatives	Kao launched its Sustainable Beauty program, emphasizing the use of oleochemicals derived from sustainable sources in personal care products.	2021
Product Line Diversification	The introduction of Kao Bio-based Surfactants in 2022, catering to the growing demand for natural ingredients in cosmetics.	2022
Emery Oleochemicals	Focus on Specialty Products	Emery specializes in producing high-performance oleochemicals for niche markets, such as bio-lubricants and plasticizers.	2019
Sustainability Certifications	In 2020, Emery obtained sustainability certifications for its products, appealing to environmentally conscious consumers.	2020

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Following are the major companies active within the oleochemicals market:

• Cargill, Incorporated
• Corbion N.V
• Ecogreen Oleochemicals
• Emery Oleochemicals
• Evonik Industries AG
• Evyap
• Godrej Industries
• IOI Corporation Berhad
• JNJ Oleochemicals, Incorporated
• Kao Chemicals Global
• KLK OLEO
• Oleon NV
• Pepmaco Manufacturing Corporation
• Philippine International Dev.
• Sakamoto Yakuhin Kogyo Co., Ltd.
• Stepan Company
• Vantage Specialty Chemicals, Inc.
• Wilmar International Ltd.
• Other Industry Participants

Global Oleochemicals Market

By Source

• Plant Based
• Animal Based

By Type

• Glycerol Esters
• Specialty Esters
• Fatty Acid Methyl Ester
• Fatty Amines
• Alkoxylates
• Others

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By Application

• Personal Care & Cosmetics
• Food & Beverages
• Pharmaceuticals
• Polymers & Plastics
• Agrochemicals
• Paints & Coatings
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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