Oleo Chemicals Market Global Industry Survey, Top Market Players by BASF SE (Germany), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), Wilmar International Ltd. (Singapore), Arizona Chemical Company, LLC (U.S.),

Competitive Dashboard:

The market appears to be highly fragmented and competitive with the presence of several well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. They strive to develop Oleo Chemicals designed to reduce the downtime and maintenance with longer life and lower costs. The market is projected to witness fierce competition owing to the expected extensions in product and innovations.

Leading Players:

BASF SE (Germany),
Arizona Chemical Company, LLC (US),
Evonik Industries AG (Germany),
Wilmar International Ltd. (Singapore),
Procter & Gamble (US),
Cargill, Incorporated (US),
Eastman Chemical Company (US),
PTT Global Chemical Public Company Limited (Thailand),
Godrej Industries Limited (India),
Emery Oleochemicals (US)

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Market Information:

Oleochemicals are substitute compounds for synthetic compounds produced from petrochemicals. These are naturally obtained chemicals and generally derived from animal fats and natural oils from plants. The larger amounts of these oils and fats are synthesized by various chemical reaction into basic fatty compounds, important for use in the soaps & detergents, pharmaceuticals and oil-based industries. The important reactions are saponification, hydrolysis, polymerization, inter-esterification and hydrogenation. Oleo Chemicals are starting to replace crude oil derived products in various applications such as soaps and detergents, raw material for many intermediate compounds like alcohol ethoxylates, alcohol sulfates, acyl glycerol and ammonium salts; lubricants and vulcanized rubber.

The key factors that aid the market growth for oleochemicals include better dermatological compatibility, constant growth of raw material, demand for cosmetic products due to increased consumer spending in developed economies, eco-friendly nature, increasing demand for oleochemicals by automobile industry due to them being good lubricants, minor toxicity, oleochemicals replacing soaps & detergent products, rapid urbanization, and rising demand for oleochemicals in food & beverage industry. Oleo Chemicals are already replacing crude oil derived products in various applications.

Geographical Insights:

Globally, the Asia Pacific region accounts for the largest market for oleochemicals. Owing to the ample availability of cost-competitive raw materials and labor force required for the production of these chemicals, the APAC market is further estimated to post the highest CAGR during the forecast period, (2017 to 2023).

The demand for oleochemicals is predicted to upsurge in numerous developed countries of the North America and Europe due to the high human development index (HDI) figures. However, these region perceive lack of raw material which is compelling them to import these chemicals from the South East Asian countries which, in turn, is expected to provide impetus to the market growth in the APAC region, witnessing hiked-up prices and demand for oleochemicals.

Furthermore, the increasing incorporation into the end-use industries such as food & beverages and soaps & detergents is fostering the market growth in the region. Besides, the burgeoning automotive sector in some of the APAC countries such as India, China, Malaysia, Japan, and Thailand is expected to fuel the market growth in the region, observing the rising unit sales and demand for lubricants.

North America oleo chemicals market is emerging as another lucrative market, following the APAC market closely. Attributing to the high consumption potential, increasing production capacities, and rising economic growth rate especially, the region is expected to witness a fabulous growth throughout the forecast period.

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The augmenting demand for oleochemicals and the growth in the crude oil production, especially in the US, is entitling the country as the major contributor to the market growth in the region, witnessing a significant market growth.

Europe region is too growing as one of the promising markets for oleo chemicals. Markets in some of the European countries such as Spain, Russia, France, Germany, Russia, and the UK is growing significantly owing to the extensive uptake of the product in some of the well-penetrated end-use industries and substantial investments in R&D and innovation activities. Resurging economy and the presence of major automobile manufacturers specifically in Germany are certainly some of the key driving forces propelling the market growth.

Latin American countries such as Brazil, Argentina, and Colombia are also estimated to perceive a moderate growth, with the increasing consumer spending on passenger cars and the emergence of new technologies and inventions in oleochemicals.

On the other hand, oleo chemicals market in the Middle East & Africa is projected to perceive a steady growth during the forecast period. The growing investments in the field, especially in some of the GCC countries such as Qatar, Oman, Saudi Arabia and the United Arab Emirates (UAE) is expected to impact the market growth in the region positively.

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This release was published on openPR.