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Brazil And Mexico Oleochemicals Market to see 5.2% CAGR from 2018 to 2025 | IOI, BRAIDO, EMERY OLEOCHEMICALS, Musim Mas Holdings, Baerlocher, Wilmar, QUIMIC, Godrej
Brazil and Mexico Oleochemicals Market
"Oleochemicals manufacturers and research institutions across Brazil and Mexico have heavily invested on technological advancements to develop better oleochemicals. These technological advancements are expected to modify and enhance the performance of oleochemicals plants in a way that they are efficient, reliable, and cost-effective in the production of oleochemicals. Furthermore, these machines use less energy in the production process, which reduces impact on the environment."
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Oleochemicals are obtained from bio-based resources, such as animal fats and plant oils, to provide sustainable and high-performance alternatives to petrochemical-originated products. They are used for production of solvents, lubricants, biodiesel, and bioplastics. As the price of crude oil increases, manufacturers prefer to switch from petrochemicals to oleochemicals, as they are plant-based sources and serve as an economical source. Moreover, oleochemicals are widely preferred in several applications, such as pharmaceutical, food & beverage, soap & detergent, and others, owing to the fact that they are biodegradable, environmental-friendly, and possess low toxicity.
Key Findings of the Brazil and Mexico Oleochemicals Market:
1. The fatty acid segment in the Brazilian oleochemicals market was the highest revenue generator in 2017.
2. The Mexican fatty alcohol segment is projected to be the most lucrative market during the forecast period.
3. The home care segment, which includes soaps and detergents, dominated the market in 2017.
4. In terms of volume, the fatty acid segment generated the maximum revenue for the Brazil and Mexico oleochemicals market in 2017.
5. Brazil accounted for more than 70% of the market in 2017.
Increase in demand for bio-degradable products and sustainable solutions and implementation of government regulations towards the use of environmentally-friendly products boost the demand for oleochemicals. Furthermore, several new applications of oleochemicals, such as biopolymers, biosurfactants, and biolubricants, which have emerged as substitutes for petroleum-based products, are expected to offer lucrative growth opportunities for the Brazil and Mexico oleochemicals market. However, volatile prices of raw material restrain the growth of the market.
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On the basis of type, the market is segmented into fatty acid, fatty alcohol, glycerol, and others. In terms of both value and volume, the fatty acid segment dominated the Brazil and Mexico oleochemicals market in 2017, owing to their increase in application in soap and detergent industries.
By application, the market is segmented into pharmaceutical, cosmetics & personal care, food & beverage, soaps & detergent, and animal feed. In Brazil, the home care segment, which includes soaps and detergents, dominated the market in 2017. However, the personal care & cosmetics segment is projected to be the most attractive market during the forecast period.
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