Major players in the oleochemicals market are Cargill Inc, Kuala Lumpur Kepong Berhad, BASF SE, Oleon N. V. , IOI Group Berhad, Wilmar International, Kao Corp, Emery Oleochemicals Group, Evonik Industries, KLK Oleo, SABIC, Evyap Oleo, Procter & Gamble Company, Croda Industrial Chemicals, and Ecogreen Oleochemicals.
New York, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oleochemicals Global Market Report 2022" - https://www.reportlinker.com/p06320091/?utm_source=GNW
The global oleochemicals market is expected to grow from $22.85 billion in 2021 to $24.53 billion in 2022 at a compound annual growth rate (CAGR) of 7.38%. The oleochemicals market is expected to reach $32.61 billion in 2026 at a CAGR of 7.38%.
The oleochemicals market consists of sales of oleochemicals by entities (organizations, sole traders, and partnerships) that refers to chemical compounds sourced from vegetables, plants, and animal oils that can be used as raw material in a variety of industries such as lubricants, pharmaceutical, plastic, rubber, and animal feed industries.Hydrolysis is the primary method for converting animal and plant oils and fats into oleochemicals.
When natural triglycerides are exposed to water, heat, and pressure, they separate into crude glycerin and mixed fatty acids.
The main types of oleochemicals include specialty esters, fatty acid methyl esters, glycerol esters, alkoxylates, and fatty amines.The fatty acid methyl refers to fatty acid esters derived from the transesterification of fats with methanol.
They are used to manufacture detergents and biodiesel.They are sold through direct and indirect sales channels.
They are used in the manufacturing of various products ranging from personal care & cosmetics, consumer goods, food processing, textiles, paints & inks, industrial, healthcare & pharmaceuticals, and polymers and plastic additives.
Asia-Pacific was the largest region in the oleochemicals market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the oleochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The oleochemicals market research report is one of a series of new reports that provides oleochemicals market statistics, including oleochemicals industry global market size, regional shares, competitors with an oleochemicals market share, detailed oleochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the oleochemicals industry. This oleochemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The increased demand for sustainable plastics is expected to propel the oleochemical market.The use of plastic and other non-biodegradable materials has caused several environmental issues forcing industries and customers to adapt to sustainable plastics.
The use of sustainable plastic is intended to reduce inefficiencies that contribute to environmental harm and aid in the optimization of business operations.This surge in consumer demand for environmentally friendly plastic opens up new markets, particularly in the cosmetics, pharmaceutical, fashion, and food industries for oleochemicals.
For instance, In December 2020, European Bioplastics, an association representing the interests bioplastics industry in Europe, stated that global bioplastics production capacity is expected to rise from approximately 2.1 million tonnes in 2020 to 2.8 million tonnes in 2025 in Europe. Therefore, the increased demand for sustainable plastics is expected to boost the oleochemicals market during the forecast period.
Technological innovation is a key trend gaining popularity in the oleochemicals market.Major companies operating in the oleochemical market are focused on providing technologically-innovative solutions to meet end-customer demands and strengthen their market position.
These companies are innovating next-generation chemical solutions technologies into their solution, such as bio-diluent, cosmetic emollient, dispersant, blowing agent management, rigid foam formulators, and others, to provide an alternative to replace fossil fuels.For instance, In September 2020, Emery Oleochemicals, a natural-based specialty chemicals manufacturer, announced EMERY® E fatty acid esters product line.
These fatty acid esters offer better color stability and low odor and are biodegradable.
In September 2019, a Portugal-based, RNM Group, a chemical industry company acquired Limsa Oleochemical S.A for an undisclosed amount. With this acquisition, RNM Group expands their distribution area and adds LIMSA’s capacity and technical expertise, while creating synergies that will raise the expectations of their partners, specifically in the detergence, cosmetics, and personal hygiene sectors. Limsa Oleochemcial S.A. is a Spain-based distributor of raw materials for the chemical industry.
The countries covered in the oleochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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