The global Oleochemicals market size is expected to be worth around US$ 35.89 billion by 2030, according to a new report by Vision Research Reports.
The global Oleochemicals market size was valued at US$ 19.50 billion in 2020 and is anticipated to grow at a CAGR of 7.57% during forecast period 2021 to 2030.
The market growth can be attributed to the increasing demand for oleochemical derivatives by major end-use industries, such as food & beverages, pharmaceuticals, personal care & cosmetics, and plastic & polymers. In addition, regulations regarding the use of synthetic products have led to the increased adoption of the product due to its environmental and cost benefits. Fatty acids represent one of the largest applications of oleochemicals as they are used in the pharmaceutical, food, soap, laundry detergents, candles, waxes, lubricants, and paints & coatings industries.
Oleochemicals are derived from fats and oils, they are derived from natural sources, such as plant and animal fats and oils, also fossil fuel sources, such as petrochemicals. Surging crude oil prices have led to a considerable shift toward the use of products derived from vegetable oils, such as palm kernel oil and palm as a primary feedstock for the production. The majority of palm oil is consumed for the production of oleochemicals, owing to the easy availability of raw materials. All these factors are projected to drive the growth of the market.
In addition, fluctuating crude oil prices have led manufacturers to invest in R&D to innovate cheaper and feasible alternatives to petroleum-based feedstock. However, the usage of glycerol as a raw material for biofuel can be viewed as a growth opportunity in the market. Moreover, rising demand from the manufacturers of industrial chemicals, surfactants, cosmetics, and pharmaceuticals is projected to fuel market growth. Manufacturers from Asia Pacific region, mainly, China, acquire the majority share.
Specialty esters accounted for the largest volume share of over 33% in 2020 owing to the wide usage of these products in the production of rubber and cosmetics and as a lubricant in pharmaceutical applications. The maximum demand for fatty alcohols in the production of detergents and surfactants and thus inherits several growth prospects.
Fatty alcohols are being used in pharmaceuticals and cosmetics owing to their specific properties, such as emollients. The most commonly used product, Cetyl (C16) alcohol, is important in shaving creams, lipsticks, and hair lotions. Cetyl and stearyl (C18) alcohol bring similar properties, which are mainly used in dermatologic bases, bath preparations (bath oils, lotions, salts), antihistamine creams, and others. Moreover, fatty alcohols provide the starting point for the chemicals used as emulsion stabilizers, defoamers, metalworking lubricants, inks, perfumes, corrosion inhibitors, fire retardants, and others.
The consumption of synthetic products, such as Diethylene Glycol (DEG) and propylene glycol, is expected to decrease, which is further expected to promote biodiesel production and boost the demand for glycerol. Owing to the increasing use of crude glycerin in biodiesel production, companies are investing to find various alternative methods for the purification of crude glycerin. The market value of glycerin is dependent upon its purity, which makes it more appealing to potential buyers. Increasing demand from the various end-use sectors and derivative (downstream) manufacturing is projected to boost the demand for refined glycerin over the forecast period.
The industrial application segment accounted for the largest revenue share of 21.8% in 2020. However, the personal care & cosmetics segment is estimated to account for the highest revenue share by 2028 growing at the fastest CAGR over the forecast years. This growth can be credited to the shift in the consumer demand for eco-friendly and natural products. To cater to the rising demand for cosmetics and to meet the regulatory frameworks, personal care manufacturers have come up with upgraded and innovative technologies.
Growing the end-user industries, such as pharmaceuticals and personal care, in the U.S. is also anticipated to enhance the overall product demand. Glycerol derivatives are estimated to have high demand on account of numerous applications across various end-use industries including food & beverages and pharmaceuticals. The rapidly expanding cleaning products industry is expected to enhance the product demand as it includes surfactants and wetting agents, which can be produced from oleochemical sources. Companies, such as Procter and Gamble, a manufacturer of cleaning products in Europe, majorly use imported oleochemicals from Malaysia and Indonesia.
The growing market for organic personal care products makes use of bio-based raw materials or oleochemicals. Growing demand for natural and organic haircare, skincare, and other cosmetic products is anticipated to fuel the segment growth in the near future. Approval from human health & safety regulatory bodies, such as the USDA and FDA, for the utilization of organic products in several personal care products, has also led to industry growth. Plastic is another major application segment. Stearic acid (C16-C18) with a low concentration of unsaturated fatty acids is mainly used in the production of plastics.
Asia Pacific accounted for the largest revenue share of over 40% in 2020 due to the increased demand for sustainable plastics in various end-user industries, which, in turn, has driven the demand for raw materials, such as fatty acids and other bio-based polymers.
Indonesia and Malaysia are the major producers of base products for oleochemicals. Asia Pacific along with being the largest consumer is also the largest producer of oleochemicals and accounts for over half of the global production. This large share is attributed to the rapid expansion of the end-use industries and the easy availability of feedstock.
Manufacturers’ preference for natural chemicals for the production of oleochemicals is expected to bolster the product demand over the forecast period. North America is projected to register significant growth from 2021 to 2028. Expansion of various end-user industries, such as pharmaceuticals and personal care & cosmetics, in the U.S. is anticipated to support the growth of the regional market.
Kuala Lumpur Kepong Berhad
IOI Group Berhad
Fatty Acid Methyl Ester
Personal Care & Cosmetics
Food & Beverages
Paints & Inks
Healthcare & Pharmaceuticals
Polymer & Plastic Additives
Central & South America
Middle East & Africa
The Oleochemicals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Oleochemicals market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Oleochemicals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Oleochemicals market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Oleochemicals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Oleochemicals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Oleochemicals by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Oleochemicals market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Oleochemicals market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Oleochemicals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Oleochemicals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Oleochemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Oleochemicals market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Oleochemicals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Oleochemicals market. These factors have benefited the growth of the global market for Oleochemicals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Oleochemicals. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Oleochemicals are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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