Oleochemicals Market By Type (Fatty Acid, Fatty Alcohol, Glycerol, Others), By Application (Pharmaceuticals, Personal Care and Cosmetics, Food and Beverages, Soap and Detergents, Polymers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global oleochemicals market was valued at $29.9 billion in 2022, and is projected to reach $55.2 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.
Oleochemicals are chemical compounds derived naturally from plant & animal oils and are used as feedstock or additives in a variety of industries. They are an alternative to petrochemicals, which are derived from petroleum. They are utilized in numerous industries, including personal care, cosmetics, pharmaceuticals & nutraceuticals, coatings, adhesives, food, elastomers & sealants, as well as domestic and industrial cleaning. As demand for oleochemicals rises, oilseed production is anticipated to increase. As crude oil prices rose in the late 1970s, manufacturers switched from petrochemical to oleochemical products, as plant-based saturated fatty oils derived from palm oil are significantly cheaper. Since then, palm oil has been utilized extensively in the production of laundry detergents and hygiene products, such as toothpaste, shower balm, soap bars, and shampoo.
Rise in demand for biodiesel and the rapid expansion of the fast-moving consumer goods industry are the primary growth drivers for the market. Growing global demand for biodegradable and sustainable solutions influences the global oleochemicals market. Moreover, the increasing use of oleochemicals by major manufacturers to produce bio-lubricants, bio-surfactants, and biopolymers as eco-friendly alternatives to petrochemicals is a significant growth driver. In addition, baby care products, soaps, cosmetics, and food ingredients that contain organic ingredients are acquiring popularity and driving the market growth. Other factors, such as increased R&D into metabolic engineering strategies for producing oleochemicals from sustainable and renewable feedstocks are anticipated to further drive the market. However, the production of certain feedstocks for oleochemicals, such as palm oil, has been associated with concerns related to deforestation and environmental impact. The industry must address sustainability issues and work toward responsible sourcing to mitigate these concerns.
Shift Toward Bio-based Raw MaterialsOleochemicals are derived from natural fats and oils, which are primarily sourced from plants and animals. The use of bio-based raw materials, such as vegetable oils, aligns with the global push for sustainability. Consumers and industries are increasingly concerned about the environmental impact of traditional petrochemical-based products, leading to a preference for renewable and eco-friendly alternatives such as oleochemicals. Bio-based oleochemicals have a lower carbon footprint compared to traditional petrochemical-based products. The production processes for bio-based materials often generate fewer greenhouse gas emissions, contributing to overall environmental sustainability. The growing awareness among consumers about environmental issues has led to an increased preference for products derived from bio-based and renewable sources. Oleochemicals meet this demand and align with the broader trend of eco-conscious consumerism.
Governments worldwide are implementing policies and regulations that support the use of bio-based raw materials. Incentives, subsidies, and mandates promote the adoption of oleochemicals and contribute to the overall growth of the bio-based economy. Furthermore, the concept of a bioeconomy, where biological resources are sustainably utilized to produce goods and energy, is gaining traction. Oleochemicals play a crucial role in the bioeconomy by providing bio-based alternatives in various industrial applications. The shift toward bio-based raw materials is a key driver not only for the oleochemicals market but also for the broader movement toward a more sustainable and circular economy. As the demand for bio-based alternatives continues to grow, the oleochemicals market is well-positioned to play a pivotal role in meeting these sustainability goals.
For the purpose of analysis, the oleochemicals market is segmented into type, application, and region. The report provides details about various types of global oleochemicals available in the market such as fatty acids, fatty alcohol, glycerol, and others. The applications covered in the study include pharmaceutical, personal care & cosmetics, food & beverages, soap & detergents, polymers, and others. In addition, the analysis presented in this section elaborates the attractiveness of each region, including North America, Europe, Asia-Pacific, and LAMEA to identify the lucrative market areas for investment.
The report further covers the strategies adopted by the key players to sustain the competitive environment and increase their market share. In addition, the report covers profiles of the key industry participants in the global oleochemicals market that Emery Oleochemicals, Wilmar International, Oleon NV, KLK Oleo, Musim Mas Group, Croda International, IOI Group, Procter & Gamble Co., Twin River Technologies, and Kao Corporation.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the oleochemicals market analysis from 2022 to 2032 to identify the prevailing oleochemicals market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the oleochemicals market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global oleochemicals market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeFatty Acid
Fatty Alcohol
Type
Ethoxylate
Others
Glycerol
Others
By ApplicationPharmaceuticals
Personal Care and Cosmetics
Food and Beverages
Soap and Detergents
Polymers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Thailand
Vietnam
Philippines
Indonesia
Malaysia
Singapore
Japan
South Korea
India
China
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Rest of LAMEA
Key Market PlayersEmery Oleochemicals
Wilmar International Ltd
Croda International plc
Evonik Industries AG
Twin Rivers Technologies, Inc.
Musim Mas
Procter & Gamble
Cargill Incorporated.
Oleon NV
IOI Oleochemical
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