OleoChemicals Market Size Is Hit USD 27.05 Billion at a CAGR of 4.1% by 2028

 Increasing demand for biodegradable products and sustainable solutions are driving the market for oleochemicals.

The global OleoChemicals Market is forecast to reach USD 37.12 Billion by 2028, according to a new report by Reports and Data. Rapid growth in the production of kernel oil and palm oil is one of the significant factors in OleoChemicals market growth. Reliable, efficient, and cost-effective oleochemical plants are ready to cater to incrementing demands. There is a rise in the acceptance of bio-based lubricants and they are replacing the traditional and synthetic lubricants, which in turn is improving the efficiency of vehicles.

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Top Companies: BASF SE, Wilmar International Ltd., Godrej Industries, Eastman Chemical Company, Evonik Industries, P&G Chemicals, Arizona Chemical Company LLC, Emery OleoChemicals Group, Cargill Incorporated, and Emery OleoChemicals Group, among others.

Further key findings from the report suggest:

  • OleoChemicals also act as an intermediary in pharmaceutical, rubber, plastic, paint and lubricant industries. The shift in demographics in the industrial structure of plastics, rubber, and surface-active agent industries coupled with transformation in the mode of development are fueling the fatty acids market.
  • An important advantage of the fatty acid industry is the byproduct glycerin that is automatically generated when fats or oils are hydrolyzed. The amount generated depends on the material, such that, the harder oils generate more glycerin than the majority of softer oils or animal fats.
  • Short-chain fatty acids can be utilized in multiple industries: personal care ingredients, agrochemical actives, flavor & fragrances, adjuvant ingredients, and food and feed additives. Industrial applications include aerospace, automotive, and industrial lubricants. Medium and long-chain fatty acids find their applications in several sectors, such as emulsifiers, textile chemicals, and plastic and rubber additives.
  • OleoChemicals are derived from natural sources, including animal and plant fats. The formation of basic oleochemical substances like fatty acids by various chemical and enzymatic reactions. High demand for natural OleoChemicals is increasing owing to its easy availability, cost-effective nature, and growing concern for the environment.
  • The Asia-Pacific region is providing lucrative growth opportunities for the growth of the market. High growth in population, economic development across major countries, and rise in the standard of living are augmenting market demand. Easy availability of feedstock and growing support from the government for bio-based products are also propelling the demand of the market.

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The global OleoChemicals market is segmented into:

Raw Material Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

·         Natural

·         Synthetic 

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

·         Fatty Acid

·         Fatty Alcohol

·         Glycerin

·         Others

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

·         Food and Beverage

·         Pharmaceutical and Personal Care

·         Soaps and Detergents

·         Polymers

·         Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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