NEW YORK, March 27, 2017 /PRNewswire/ -- The U.S. specialty oleochemicals market is expected to reach 3.08 billion by 2025, according to a new report by Grand View Research, Inc. The shift towards relying on natural chemicals coupled with an increase in the growth of end-use industries such as personal care and pharmaceuticals in the U.S. will increase the oleochemical market growth over the next few years.
Growing demand for biopolymers is expected to have a positive impact on specialty oleochemical market penetration and production. Mounting concerns regarding polymer/plastic biodegradability have prompted manufacturers in the market to shift their focus towards development of bio-based alternatives. Oleochemicals derived from plant-derived feedstock such as linseed, castor and soybean oils are used to develop polyamides, which are commonly used in textile and automotive applications.
Specialty esters held the largest share in 2015 and is estimated to reach USD 1.01 billion by 2025. The specialty esters include product categories such as sorbitan esters, glycol esters, lactate esters, isopropyl palmitate, etc. Owing to its feasible chemical characteristics, glycol esters have witnessed increased demand as emulsifier in soap, shampoos, and other personal care consumables.
Glycerol esters, on the other hand, have been gaining momentum on account of their GRAS (generally recognized as safe) recognition awarded by the U.S. FDA. Glycerol derivatives have been finding numerous applications across the food & beverages and pharmaceutical industry. Increasing biodiesel industry has also influenced its market demand wherein it is available at lower price. Crude glycerol can be used as animal feed over corn, as it is cheaply available.
Further key findings from the report suggest:
The U.S. speciality oleochemical derivatives demand was 1,097 kilo tons in 2015 and is anticipated to grow at a CAGR of 4.5% over the forecast period
The alkoxylates product market accounted for over 14% of the total revenue in 2015
Fatty amines market volume was estimated to be over 135 kilo tons and is estimated to grow at a CAGR of 4.2% from 2016 to 2025
The specialty oleochemical market in personal care & cosmetics application is estimated to witness the highest growth at a CAGR of over 5% from 2016 to 2025
Major oleochemical derivatives used in food processing include glycerol esters, alcohol ethoxylates, sucrose esters, and sulfates and is anticipated to reach over 14% of total volume by 2025
Industrial segment estimated as the leading application segment and accounted for 21.2% of the total volume in 2015
Healthcare and pharmaceutical application is anticipated to reach USD 229 million by 2025
The key players in the U.S. specialty oleochemicals derivatives market include Vantage Specialty Chemicals, Emery Oleochemicals, Evonik, Wilmar, Inolex and Kao Chemicals
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