Global Oleochemical Fatty Acids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Oleochemical Fatty Acids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Oils and fats are vital raw materials that are needed for the making of oleochemicals, including fatty alcohols and amines, methyl esters, free fatty acids, and glycerol as a by-product. Oleochemicals refers to those chemicals that are extracted from oils and fats and are extensively utilized in personal and home care products. Oleochemical fatty acid refers to one of the chemicals in the oleochemicals class that is extracted through the process of hydrolysis of fats or oils.

Market Overview:

The latest research study on the global Oleochemical Fatty Acids market finds that the global Oleochemical Fatty Acids market reached a value of USD 8911.91 million in 2022. It’s expected that the market will achieve USD 11652.34 million by 2028, exhibiting a CAGR of 4.57% during the forecast period.

Influence of COVID-19 Outbreak on Oleochemical Fatty Acids Industry Development

The raging COVID-19 plunged the global economic environment into depression. The impact of COVID-19 on the Oleochemical Fatty Acids industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises.
As of now, there have been more than 20 million confirmed cases of CVOID-19 worldwide, and the epidemic has not been effectively controlled. With the slowdown in world economic growth, the Oleochemical Fatty Acids industry has also suffered a certain impact.
In the short term, from the supply side, the company's operating pressure will increase due to postponement of workers' arrival and logistics and transportation issues. In the long run, as the epidemic gradually improves or ends, the impact on the Oleochemical Fatty Acids industry will gradually weaken. Production and sales will return to the original level and gradually increase, and Oleochemical Fatty Acids market size will be further expanded in the next few years

Market Opportunities

Oleochemical Fatty Acids finds its applications across many different industries. The oleochemical fatty acid is an essential ingredient necessary for various applications from personal care products to agrochemicals. The demand within the global oleochemical fatty acids market has been rising on account of the growing popularity of cosmetic products. Personal grooming and care has emerged as key physiological aspect for human satisfaction, and this factor has directly contributed to market growth. Furthermore, the promotion strategies of vendors of cosmetic have also underhandedly aided the growth of the global oleochemical fatty acids market in recent times. The use of oleochemical fatty acids for the manufacture of animal feed is another factor that is projected to bring in titanic revenues within this market.
Moreover, the manufacture of plasticizers and disinfectants also involves the use of oleochemical fatty acids. The relevance of these acids in the chemical industry is a key dynamic that shall aid market growth in the years to come. Candles, cleaning components, and waxes are also manufactured by blending oleochemical fatty acids with other materials.
Hence, considering the above mentioned factors, the global oleochemical fatty acids market can be regarded as a lucrative haven for the vendors.
Innovation is essential to maintain global competitiveness, improve performance, and to further drive the growth of the market. To sustain in the competitive market, the manufacturers who compete to deliver competitive advantages on the basis of pricing, must also develop new ideas and launch new product with distinctive features. In the Oleochemical Fatty Acids industry, there are companies aiming at cost and quality leadership which shall improve profitability.
The Oleochemical Fatty Acids market has seen many international and regional vendors vying for their share of the market, and players are focusing on differentiating themselves to gain vital traction over their competitors.
And players in the Oleochemical Fatty Acids industry have adopted product launch as one of their strategies to increase their market share and to remain competitive in the market. Therefore, the product innovation can provide huge benefit for players and for the industry to grow.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Wilmar, KLK OLEO and Musim Mas Group with the revenue market share of 18.38%, 11.01% and 6.08% in 2019.

Wilmar’s business activities include oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilisers as well as flour and rice milling. At the core of Wilmar’s strategy is an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity business, from cultivation, processing, merchandising to manufacturing of a wide range of branded agricultural products.

Kuala Lumpur Kepong Berhad (KLK), started as a plantation company in 1906 and today, the development of oil palm and rubber remains the Group’s core business. KLK ventured into resource-based manufacturing in the 1990s to optimise value across the supply chain by vertically integrating its upstream business with downstream capabilities in oleochemicals, derivatives and specialty chemicals. Today, the Group is a global oleochemical producer with complexes located strategically in Malaysia, Indonesia, China and Europe. Its products are used in diverse end-use application, including home and personal care, pharmaceuticals, food and nutrition, flavours and fragrances, lubricants and industrial chemicals.

Segmentation Overview:

Among different product types, Saturated fatty acids segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Emulsion Polymerization segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Oleochemical Fatty Acids market covered in Chapter 3:

Wilmar
VVF LLC
KLK OLEO
IOI Corporation
PMC Biogenix
P&G Chemicals
Musim Mas Group
White Group Public Co., Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the Oleochemical Fatty Acids market from 2018 to 2029 is primarily split into:

Saturated Fatty Acids
Monounsaturated Fatty Acids
Polyunsaturated Fatty Acids

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Oleochemical Fatty Acids market from 2018 to 2029 covers:

Animal Feed
Cosmetics and Toiletries
Detergents and Cleaners
Emulsion Polymerization
Waxes
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)