Oleochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Oleochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global oleochemicals market size reached US$ 24.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.

Oleochemicals are organic compounds made from the hydrolysis of plant oils and animal fats. They comprise fatty alcohols (FALs), fatty acid methyl esters (FAMEs), fatty acid ethyl esters (FAEEs), free fatty acids (FFAs), fatty amines, and glycerin. They are commonly utilized in the manufacturing of toothpaste, household cleaners, printer inks, lubricants, pesticides, paints, and condiments. They are also used as a substitute for petroleum-based products, which are known as petrochemicals.

Oleochemicals Market Trends:

Oleochemicals are widely utilized in personal care and cosmetic products, such as soap, perfume, nail polish, lotions, cream, and oils. In addition, their increasing adoption as coatings and adhesives in the construction industry is contributing to the market growth. It can also be attributed to rising construction activities in the residential, commercial, and industrial spaces. Moreover, the escalating demand for premium apparel that requires high-quality products to maintain the fabric quality is catalyzing the demand for oleochemicals in the manufacturing of surfactants and detergents. Apart from this, the growing environmental awareness among the masses and several initiatives undertaken by governments of numerous countries are increasing the utilization of biodiesel. This, in turn, is creating a positive outlook for the market. Besides this, oleochemicals are widely used as preservatives, thickening agents, and emollients in the pharmaceutical and nutraceutical industry. Furthermore, oleochemicals are gaining adoption in packaging processed and ready-to-eat (RTE) food products. This, coupled with significant growth in the food and beverage (F&B) industry, is offering lucrative growth opportunities to industry investors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global oleochemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form, application and feedstock.

Breakup by Type:

Fatty Acids
Fatty Alcohols
Glycerine
Others

Fatty acids dominate the market as they are sustainable and cost-effective routes for the renewable production of chemicals and fuels.

Breakup by Form:

Liquid
Solid
Flakes
Pellets
Beads
Others

The liquid form exhibits a clear dominance as it is utilized in the production of liquid soaps and detergents.

Breakup by Application:

Soaps and Detergents
Plastics
Paper
Lubricants
Rubber
Coatings and Resins
Personal Care Products
Others

Soaps and detergents hold the majority of the total market share due to the rising consumer preference for natural and premium personal care and household cleaning products.

Breakup by Feedstock:

Palm
Soy
Rapeseed
Sunflower
Tallow
Palm Kernel
Coconut
Others

Palm feedstock currently dominates the market.

Breakup by Region:

North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others

The Asia Pacific holds the majority of the global oleochemicals market share due to increasing construction activities in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Akzo Nobel N.V., BASF SE, Cargill, Incorporated, Emery Oleochemicals Group, Evonik Industries AG, Evyap-Oleo, Godrej & Boyce Mfg. Co. Ltd., Kao Corporation, KLK OLEO, Myriant Technologies, Oleon NV, Procter & Gamble Company, PTT Global Chemical Public Company Limited, TerraVia Holdings, Inc., and Wilmar International Limited.

Key Questions Answered in This Report:


How has the global oleochemicals market performed so far and how will it perform in the coming years?
What are the key regional markets in the global oleochemicals industry?
What has been the impact of COVID-19 on the global oleochemicals market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the application?
What is the breakup of the market based on the feedstock?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the global oleochemicals industry?
What is the structure of the industry and who are the key players?
What is the degree of competition in the market?