Global Oleochemicals Market was valued at USD 25.93 billion in 2019 and it is expected to grow at CAGR 4.3% by 2027
Oleochemicals are originated from plant and animal fats. Natural raw materials such as castor oil, soybean oil, vegetables are the various sources of oleochemicals. Oleochemicals are the substitute of petrochemical products. Rise in environment concerns are the prominent factor for adoption of oleochemicals which is expected to grow the global oleochemicals market growth over this forecast period. Oleochemicals are widely applied in various sectors as pharmaceuticals, food &beverages, soap & detergent, polymers, personal care, cosmetic, and others.
Most of the chemical products are purchased directly by the consumers, while others are used as catalysts, intermediating agents, and raw materials required for the production of products such as plastic and various coatings.
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The chemical sector comprises of critical processes, operations, and organizations involved in the production of chemicals and their derivatives. Chemical is one of the largest industries across the globe. A wide range of products associated with human lives is manufactured using at least one type of chemical, ranging from soap to plastic.
Rise in commercialization of bio-based products or oleochemicals will anticipate the product demand in over the forecast period. It is expected boost the global oleochemicals market growth. Oleochemicals are extensively available and cost effective due to these ecological advantages will have the positive impact on global oleochemicals market growth. Furthermore, depletion of world fossil fuels and resources is the major issue, which leads implementation of stringent policies and regulations and high demand of oleochemicals across the world is expected to propel the global oleochemicals market growth. Moreover, increase in demand for oleochemicals in personal care products, cosmetics, and food industries is expected to drive the global oleochemical market growth.
However, high prices of biofuel owing to government regulations and rules are the major restraining factors for market which are expected to hinder the global oleochemicals market growth.
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Global Oleochemicals Market is segmented into type such as Fatty Acid, Fatty Alcohol, Glycerin, and Others, by physical forms such as Powders, Needles, Liquids, Flakes, and Dispersions. Further, Global Oleochemicals Market is segmented into application such as Pharmaceuticals, Food & Beverages, Soaps & Detergents, Polymers, Personal Care, and Others.
The assessment and forecast of the Oleochemicals Market have been studied on a global and regional basis. Based on the region, the Oleochemicals Market has been studied in the Asia Pacific (APAC), Europe, North America, Latin America (LATAM), and the Middle East and Africa (MEA).
Market Key Players
Various key players are discussed in this report such as
- Emery Oleochemicals,
- Evyap Oleo,
- Cargill Inc,
- Godrej Industries,
- Twin River Technologies,
- Chemical Associates Inc,
- Croda International,
- Musim Mas Group,
- IOI Group,
- Procter & Gamble Co,
- Du Pont,
- Oleon NV,
- KLK Oleo and
- Wilmar International.
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