Oleochemicals Global Market Report 2023

·5 min read

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, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oleochemicals Global Market Report 2023" - https://www.reportlinker.com/p06320091/?utm_source=GNW

The global oleochemicals market grew from $24.78 billion in 2022 to $26.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The oleochemicals market is expected to grow to $37.61 billion in 2027 at a CAGR of 8.7%.

The oleochemicals market consists of sales of alkoxylates and palm oil.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Oleochemicals 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.

Asia-Pacific was the largest region in the oleochemicals market in 2022, 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 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.

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 tons in 2020 to 2.8 million tons 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 November 2021, Mega First Corporation Berhad, a Malaysia-based engaged in asset management and investment holding acquired EMERY OLEOCHEMICALS (M) SDN BHD and EMERY SPECIALTY CHEMICALS SDN BHD for $8.27 million. The acquisition is expected to assist Mega First Corp. with its in-house talent recruitment goal, as well as its plantation division’s core technical capabilities when it expands into coconut and other agricultural produce processing in two to three years. Emery Oleochemicals (M) Sdn. Bhd is a Malaysia-based high-performance, natural-based specialty chemicals manufacturer.

The countries covered in the oleochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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.
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