(MENAFN- EIN Presswire) EINPresswire/ -- The Asia-Pacific oleochemicals market is witnessing robust growth, driven by rising demand across end-user industries and an accelerating shift toward sustainable and biodegradable products. In 2020, the soap and detergents segment held the largest market share, accounting for over one-fifth of total demand. However, the industry also faced notable challenges during the pandemic, as prolonged lockdowns disrupted supply chains, reduced workforce availability, and increased raw material costs.

According to a report published by Allied Market Research, the Asia-Pacific oleochemicals market was valued at $14.8 billion in 2020 and is projected to reach $26.5 billion by 2028, registering a CAGR of 6.5% from 2021 to 2028.

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While growing awareness of sustainability continues to propel the market forward, fluctuations in raw material prices pose a hurdle. Nevertheless, rising consumer consciousness about harmful chemicals in personal care products is expected to unlock new growth avenues in the years ahead.

Market Segmentation:

By Type:

- Fatty acids led the market in 2020, making up nearly half of total revenue.
- Fatty alcohols are anticipated to grow at the highest CAGR of 7.4% during the forecast period.

By Application:

- Personal care and cosmetics is projected to witness the fastest growth, with a CAGR of 7.5%.
- Soap and detergents remained the dominant segment in 2020.

By Country:

- China accounted for more than two-fifths of regional demand in 2020, making it the leading market.
- Vietnam is forecast to grow at the highest CAGR of 8.9% through 2028.

Key Market Players:

Major companies operating in the Asia-Pacific oleochemicals market include:

- Hancole, Ecogreen Oleochemicals, Kao Corporation, KLK Oleo, IOI Corporation Berhad, P&G Chemicals, Sinarmas Cepsa Pte. Ltd., Musim Mas, Unilever Oleochemicals Indonesia, Timur Oleochemicals, Wilmar International Ltd., Emery Oleochemicals, Croda International Plc, Oleon NV, and Global Green Chemicals.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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