Kenneth Research recently added a report on the Global Oleochemicals Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for .. products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Oleochemicals Market is valued approximately USD 22 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7 % over the forecast period 2020-2027. Oleochemicals are based on plant sources or animal fat and derived from natural raw materials. They exhibit very low toxicity, thus, considered to be sustainable. These products are considered as natural, green, organic, safe, renewable, and biodegradable by the scientists and consumers. Rising consumption of environment-friendly, and bio-based chemicals that can be used in various industries such as personal care & cosmetics, food & beverages, pharmaceuticals, and other industries has driven the market positively. Oleochemicals is consumed in various forms such as fatty acids, used for the production of soaps and detergents, surfactants, lubricants, varnishes, and pharmaceuticals.
For instance. oleochemicals are combined with caustic soda, sodium, fragrances and preservatives to manufacture organic soaps. Further, high costs of petrochemical products, shifting preference for eco-friendly products and favourable regulations has led the adoption of oleochemicals across the forecast period. For instance, human health & safety regulatory bodies such as the United States Department of Agriculture and Food and Drug Administration have approved the utilization of organic products in several personal care products. For instance: according to counter.org, by eating organic foods, cancer risk can be reduced by 25%. However, increase in volatility in feedstock prices makes it difficult for companies in a range of sectors – from chemicals, metals and manufacturing, to aviation, oil and gas, etc. may impedes the growth of the market over the forecast period of 2020-2027. Also, with the easy availability of raw materials, and rising awareness about green chemicals, the adoption & demand for oleochemicals is likely to increase.
The regional analysis of global Oleochemicals market is dominated by the Asia-Pacific among the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leadingregion across the world in terms of market share owing to the geriatric population, increased demand for sustainable products in various end-user industries, and rise in demand for fatty acids and other bio-based polymers. Whereas, North America is also anticipated to exhibit highest CAGR over the forecast period 2022-2031. Factors such as presence of large established industries like pharmaceuticals and personal care & cosmetics, would create lucrative growth prospects for the Oleochemicals market across Asia-Pacific region.
Major market player included in this report are:
- Emery Oleochemicals
- Wilmar International
- Oleon NV
- KLK Oleo
- Musim Mas Group
- Croda International
- IOI Group
- Procter & Gamble Co.
- Twin Rivers Technologies
- Chemical Associates Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Fatty Acid
- Fatty Alcohol
- Methyl Ester
- By Application:
- Personal Care & Cosmetics
- Food & Beverages
- North America
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2022 to 2031
Target Audience of the Global Oleochemicals Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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