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CHEMICALS AND ADVANCED MATERIALS

Oleochemicals Market Segmentation By Product Type (Fatty Alcohols, Fatty Acid, Glycerol, and Others); By Application (Pharmaceutical & Personal Care, Food & Beverages, Soaps & Detergents, Polymers, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Oleochemicals Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

April 24, 2020: Solvay, a leading Belgian chemical company, manufactured PROXITANE® AHC, a concentrated liquid disinfectant,  was approved for usage against SARS-CoV-2, the virus strain that causes COVID-19, by the US Environmental Protection Agency (EPA) and it has been added to the list of disinfectants for use against COVID-19.

February 25, 2020: Oleon, a leading company specialized in converting natural products into a wide variety of oleochemical products, was awarded the Gold medal by EcoVadis for the third time in a row, in acknowledgment of their Corporate Social Responsibility initiatives. EcoVadis is an international rating organization dedicated to the assessment of the performance of companies on sustainability topics.

Oleochemicals Market Overview

The science behind oleochemicals was first used in the making of soaps but now it has wide applications in sectors such as food, cosmetics, pharmaceutical and industrial. Oleochemicals are obtained from natural raw materials such as castor oil, vegetable oil, soybean oil, animal oils & fats, and from petrochemical feedstock. Fatty acids are the main oleochemicals derived from animal & vegetable oils and fats. Also, the biodegradability of oleochemicals has permitted them to achieve notable popularity especially in the food industry where they are broadly used as emulsifiers in food products such as cake, confectionery, bread, and others.

Market Size and Forecast

The oleochemicals market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product type, application, and region. Among product types, the fatty acid segment is expected to hold the largest market share during the forecast period followed by fatty alcohols, on account of the high demand for fatty acids from various end-use businesses including soaps & detergents, intermediates, plastics, rubber, paper, lubricants & greases, personal care, textile, food processing, paints & inks, healthcare & pharmaceuticals, and agrochemicals. Soap & detergents are the biggest end-use segment for the fatty acids attributable to the growing textile sector and growing disposable income. The market for glycerin is expected to grow at a considerable rate on account of growing demand as a vital ingredient in various food & beverages, personal care, and detergent products. Increasing demand for high purity natural constituents in the above-mentioned end-use trades, consumer preference for eco-friendly and inexpensive products, and an abundant supply of crude glycerin are projected to drive the segment growth.CLICK TO DOWNLOAD SAMPLE REPORT

Oleochemicals Market Graph

Growth Drivers

Strong demand for bio-degradable products

With the environmental conventions persistently becoming more stringent and the nonrenewable resources getting exhausted, it has paved the way to the opportunity for the oleochemicals to enter the market and substitute the conventional petroleum-based products being used presently. Also, the growth of palm oil products coupled with surging crude oil prices has fortified the acceptance of oleochemicals in developing nations. Biodegradability of products has become quite a popular tendency these days owing to the strict rules focused on preserving product quality and health risk which encourages the use of natural raw material derived products such as oleochemicals.

Wide range of applications in various industries

Growing implementation of oleochemicals in various end-use sectors, such as surfactants, personal care, and home care is motivating their sales significantly. The production of main feedstock for polyurethane production, polyols, is also built on oleochemical routes, thus providing a push to the growth in the oleochemicals market. Diverse food and beverages use oleochemicals for the maximum part as emulsifiers in bread, cake, cakes, and confectionaries. Customized oils and margarine are prepared by utilizing oleochemicals. Another significant operation of oleochemicals is in the making of nutrition enriched ingredients that are largely utilized as a part of packaged food products. Further, these synthetic potions are additionally used to produce both plain and seasoned frozen yogurts.

Restraints

The competition of oleochemicals from other substitutes might be a key threat to the oleochemicals market. Environmental distresses related to plantations and land availability are other aspects that might hamper the growth of oleochemicals. Also, the growing demand for biodiesel may cause a hike in biodiesel prices and is estimated to directly affect the overall market of oleochemicals based products, which might act as a restraining factor for the oleochemicals market.

Market Segmentation

Our in-depth analysis of the oleochemicals market includes the following segments:

By Product Type

  • Fatty acid
  • Fatty alcohol
  • Glycerin
  • Others

By Application

  • Pharmaceutical & personal care
  • Food & Beverages
  • Soaps & Detergents
  • Polymers
  • Others

By Region

Geographically, the oleochemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America and Europe are estimated to register reasonable growth in the global oleochemicals market over the forecast period.

Growing preference for natural-based personal care products is the prime factor driving the demand for oleochemicals in these regions.

Stringent regulations in Europe against genetically modified (GM) food products drive the demand of the oleochemicals market.

The Asia-Pacific region is expected to witness the largest share of the global oleochemicals market in the foreseeable forecast period owing to the rapidly increasing consumption of oleochemicals in countries such as China, India, and South Korea for personal care products. The upsurge in plantation undertakings in Indonesia, Malaysia, and the Philippines, to manufacture various cosmetics and personal care products from oleochemicals, is projected to fuel the demand for the oleochemicals market in the region. Furthermore, low production cost, labor cost, and lenient rules in these regions are inspiring manufacturers to multiply their manufacturing units in these regions, which is projected to drive the demand for Oleochemicals.

Furthermore, the demand growth for oleochemical is further attributed to growing anguishes associated with global climate change, unwavering energy, and fluctuating prices of crude oil.

The oleochemicals market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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