The recent “Oleochemicals Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report
The report on the “Oleochemicals Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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Global Oleochemicals Market Analysis and Growth Forecast:
The global oleochemicals market was valued at USD 25,815.1 Million in 2020 and is projected to reach USD 39,849.2 Million by the year 2027. The market is expected to register a CAGR of 6.5% during the forecast period. The volume of oleochemicals in the market was 18,969,803 tonnes in 2020.
Oleochemicals are a bunch of a range of fatty acid-containing compounds used for manufacturing paints, surfactants, detergents, soaps, lubricants, varnishes, pharmaceutical aids, and copolymers. The market is majorly driven by government regulations regarding the use of environmentally friendly products and the rising usage of oleochemicals in the cosmetic & pharmaceutical industry. Furthermore, the growing demand for sustainable and biodegradable products is also anticipated to drive market growth.
In addition, the COVID-19 pandemic positively impacted the oleochemicals market, due to the increase in demand for cleaning products, sanitizers, and disinfectants, for manufacturing of which oleochemicals are used. However, due to travel restrictions, the supply chains were disrupted.
Key players operating in the global oleochemicals market are present majorly in Indonesia, Malaysia, and the Philippines. The cumulative market share of the fourteen major players is near about 60%. Therefore, it can be concluded that there is high competition in the market.
Malaysia-based companies include Emery Oleochemicals (M) Sdn Bhd, Emery Oleochemicals Group, FGV Holdings Berhad, Greenwell Oleochemicals SdnBhd, IOI Corporation Bhd, KLK OLEO, Malaysian Oleochemical Manufacturers Group, Pacific Oleochemicals Sdn Bhd, Sime Darby, and Timur Oleochemicals Malaysia Sdn Bhd.
Indonesia-based companies include Aribhawana Utama, Cisadene Raya, Ecogreen, Imora, PHG (Permata Hijau Group), Sinar Mas Group, and other prominent players. Philippines-based companies include Chemrez Technologies, Inc., JNJ Oleochemicals, Incorporated, Pan Century Surfactants Inc., Pepmaco Manufacturing Corp., Philippine International Dev., Inc. (Phidco, Inc.), and other prominent players.
The market also consists of many global players such as Alnor Oil Co, Inc., BASF SE, Cargill Incorporated, Corbion N.V, Eastman Chemical Company, Evonik Industries, Evyap-Oleo, Gliserin San, Godrej Industries, Isosciences LLC, Kao Chemicals, Musim Mas, Nouryon, Oleon NV, P&G Chemicals, PTT Global Chemical Public Company Limited, SABIC, Sakamoto Yakuhinkogyo Co., Ltd., Stepan Company, Vantage Specialty Chemicals, Inc., and Wilmar International Ltd., among others.
All these players are involved in various strategic developments, such as mergers & acquisitions, product launches, collaborations, and expansions, among others. For instance, in April 2021, Emery Oleochemicals developed a bio-based alternative to castor-based PVC lubricants, such as 12 Hydroxystearic acids (12-HSA). The bio-based alternative is known as Loxiol G 19 and is highly compatible with PVC. It also provides good anti-plate-out properties and reduces stickiness.
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Government initiatives regarding the use of environment friendly products
Rising awareness regarding the ill effects caused by the harmful chemical-based products on the environment, the government of various countries have initiated many movements and regulations to encourage the use of environment-friendly products. Since oleochemicals are derived from natural oils and fats, they are safe for the environment. The US Environmental Protection Agency introduced ecolabels and standards for greener products. These are marked on eco-friendly products so that consumers can identify them easily. Such initiatives are expected to boost the demand for environmentally friendly products, hence boosting the growth of the oleochemicals market.
Rising use in the cosmetic and pharmaceutical industry
Oleochemicals find application in the nutraceutical and pharmaceutical industry, as they can be used as thickening agents, preservatives, and as emollients. Isopropyl myristate, a type of oleochemical is used as moisturizers in topical medicinal products and as a thickening agent or emollient in other pharmaceutical applications. In the cosmetic industry, oleochemicals such as octyl stearate, a palm derivative are used as an emollient for eyeshadow & lipstick and polyhexanide, a water-based preservative & an antibacterial chemical is used in many makeup products. Therefore, the rising usage of oleochemicals in the cosmetic, as well as the pharmaceutical industry, is estimated to fuel the market growth.
Growing demand for biodegradable and sustainable products
Since non-renewable resources are depleting and the environmental regulations are also getting stringent, demand for oleochemicals as sustainable alternatives is also rising. Oleochemicals are abundantly available, which further makes them the preferred product of choice in many industries. The production of such sustainable chemicals is increasing since consumers are becoming aware of the environment and the cost benefits that oleochemicals can provide. The demand for oleochemicals is increasing more and more as the movement for environmentally-friendly products progresses and as the cost of the oil rises.
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The global oleochemicals market is segmented into product, application, and sales channels.
Fatty Acid Methyl Ester
The alkoxylates segment accounts for the largest share of more than 40% due to their increasing use in detergents, emulsifying agents, wetting agents, and stabilizers, among others. The fatty alcohol segment is expected to grow at the fastest CAGR owing to its rising use in the cosmetics and pharmaceutical industry.
Food & Beverages
Healthcare & Pharmaceuticals
Paints & Inks
Personal Care & Cosmetics
Polymer & Plastic Additives
Soap and Detergents
The soap & detergents segment accounted for the largest share due to the growing usage of oleochemicals in this sector, as the demand for natural soaps and detergents is rising. On the other hand, the healthcare & pharmaceuticals segments are anticipated to grow at the fastest growth rate of around 8.1% owing to the high demand for oleochemicals to manufacture topical medicinal products.
By Sales Channel
The direct segment is expected to hold the largest market share, as most of the industries using oleochemicals adopt direct sales channels for selling their products. The indirect segment is expected to hold the second-largest market share.
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On a regional basis, the global Oleochemicals market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region accounted for the largest market share of more than 60% in the global market owing to the rising demand for sustainable plastics, which has led to the rising demand for its raw materials, such as fatty acids and other bio-based polymers.
The Middle East & Africa region held the second largest market share in the global market, owing to the presence of various companies manufacturing different types of oleochemicals. The North American region is also anticipated to demonstrate significant growth during the forecast period.
The global oleochemicals market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global oleochemicals market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global oleochemicals market report answers questions such as:
- What is the market size and forecast of the Global Oleochemicals Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Oleochemicals Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Oleochemicals Market?
- What is the competitive strategic window for opportunities in the Global Oleochemicals Market?
- What are the technology trends and regulatory frameworks in the Global Oleochemicals Market?
- What is the market share of the leading players in the Global Oleochemicals Market?
- What modes and strategic moves are considered favorable for entering the Global Oleochemicals Market?
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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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