Oleochemicals Market : Opportunities and Challenges in a Rapidly Evolving Industry
The oleochemicals market size is expected to reach USD 42.03 Billion in 2030 and register a steady revenue CAGR of 4.2% over the forecast period, according to latest analysis by Emergen Research. Oleochemicals market revenue growth is primarily driven by rising government regulations regarding use of environmentally friendly products. Oleochemicals are becoming more popular as sustainable alternatives as environmental rules tighten and non-renewable resources deplete.
The study of animal and vegetable oils and fats, as well as the oleochemicals produced from them, is known as oleochemistry. The end outcome is referred to as oleochemicals (from Latin: oleum “olive oil”). The main output of this sector is soap, which was produced in 1990 in quantities of 8.9 106 tonnes. Fatty acids, fatty acid methyl esters, fatty alcohols, and fatty amines are further important oleochemicals. All of these methods produce glycerol as a by product.
The oleochemical market is growing as a result of various factors, including existence of raw materials, high level of customer demand, and market expansion for green chemicals. Oleochemicals are expected to become more popular in products used in personal care, detergents, food, and drink. The fastest rate of growth is anticipated for glycerol over the next years due to rising popularity of its use in products such as personal care and food and beverage items.
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Forecast Period : 2022-2030
Base Year: 2021
Number of Pages: 250
The global Oleochemicals Market report provides a comprehensive study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Moreover, the study covers a SWOT analysis that aids in recognizing the restraining and driving factors in the market. Furthermore, the report outlines market segmentation and growth analysis of the top 10 market players that are currently active in the industry. The drivers and opportunities help in grasping the dynamic market trends and how market players can leverage such trends.
Key Players Profiled in the Report are:
Wilmar International Ltd., BASF SE, Eastman Chemical Company, Procter & Gamble, Cargill, Incorporated, Evonik Industries, Godrej Industries Limited, PTT Global Chemical Public Company Limited, Arizona Chemical, and Emery Oleochemicals.
Some Key Highlights From the Report
- On 18 September 2020, Emery Oleochemicals announced the release of its EMERY E general-purpose fatty acid esters product line. These fatty acid esters offer good color stability, low odor, and good biodegradability. EMERY E bio-based esters are a sustainable alternative to petrochemical-based materials and can be used in the formulation of a wide range of consumer and industrial systems including bio-diluent, solvent, or plasticizer in ink, adhesive, coating applications, plastic additives, pigment binding, and dispersing co-agents.
- The fatty acid segment is expected to account for a large revenue share over the forecast period. This is attributed to its increasing adoption of microbial fatty acid biosynthesis. Sustainable and inexpensive techniques for creating renewable chemicals and fuels are needed to serve the expanding population and economy while cutting carbon emissions. Oleochemicals are petrochemical substitutes that are often manufactured from limited resources such as animal and plant fats. There is a lot of interest in microbial fatty acid biosynthesis since it offers a way to make renewable oleochemicals. According to several studies, Escherichia coli has been genetically modified to create a range of oleochemicals including alkanes that can be used right away as biofuels. On the other hand, yeast Saccharomyces cerevisiae is more suited for industrial scale production due to its robustness, tolerance to challenging fermentation conditions, and widespread use in synthesis of bioethanol.
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The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Emergen Research has segmented the global oleochemicals market based on type, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Fatty Acid
- Fatty Alcohol
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Pharmaceuticals & Personal Care
- Food & Beverages
- Soaps & Detergents
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Oleochemicals market expected to boost the growth of the industry in the coming years.
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