Oleochemicals Market 2021| Overview by Industry Size, Market Share, Future Trends, Growth Factors and Leading Players by Report ocean

Report Ocean publicizes a new report on the global Oleochemicals Market report containing numerous information about factors, such as market restrains, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the global Oleochemicals Market growth. 

Market Introduction

The global oleochemicals market was valued at USD 25,815.1 Million in 2020 and is projected to reach USD 39,849.2 Million by the year 2027. The market is expected to register a CAGR of 6.5% during the forecast period. The volume of oleochemicals in the market was 18,969,803 tonnes in 2020.

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Oleochemicals are a bunch of a range of fatty acid-containing compounds used for manufacturing paints, surfactants, detergents, soaps, lubricants, varnishes, pharmaceutical aids, and copolymers. The market is majorly driven by government regulations regarding the use of environmentally friendly products and the rising usage of oleochemicals in the cosmetic & pharmaceutical industry. Furthermore, the growing demand for sustainable and biodegradable products is also anticipated to drive market growth.

In addition, the COVID-19 pandemic positively impacted the oleochemicals market, due to the increase in demand for cleaning products, sanitizers, and disinfectants, for manufacturing of which oleochemicals are used. However, due to travel restrictions, the supply chains were disrupted.

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Growth Influencers:

Government initiatives regarding the use of environment-friendly products

Rising awareness regarding the ill effects caused by the harmful chemical-based products on the environment, the government of various countries have initiated many movements and regulations to encourage the use of environment-friendly products. Since oleochemicals are derived from natural oils and fats, they are safe for the environment. The US Environmental Protection Agency introduced ecolabels and standards for greener products. These are marked on eco-friendly products so that consumers can identify them easily. Such initiatives are expected to boost the demand for environmentally friendly products, hence boosting the growth of the oleochemicals market.

Rising use in the cosmetic and pharmaceutical industry

Oleochemicals find application in the nutraceutical and pharmaceutical industry, as they can be used as thickening agents, preservatives, and as emollients. Isopropyl myristate, a type of oleochemical is used as moisturizers in topical medicinal products and as a thickening agent or emollient in other pharmaceutical applications. In the cosmetic industry, oleochemicals such as octyl stearate, a palm derivative are used as an emollient for eyeshadow & lipstick and polyhexanide, a water-based preservative & an antibacterial chemical is used in many makeup products. Therefore, the rising usage of oleochemicals in the cosmetic, as well as the pharmaceutical industry, is estimated to fuel the market growth.

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Growing demand for biodegradable and sustainable products

Since non-renewable resources are depleting and the environmental regulations are also getting stringent, demand for oleochemicals as sustainable alternatives is also rising. Oleochemicals are abundantly available, which further makes them the preferred product of choice in many industries. The production of such sustainable chemicals is increasing since consumers are becoming aware of the environment and the cost benefits that oleochemicals can provide. The demand for oleochemicals is increasing more and more as the movement for environmentally-friendly products progresses and as the cost of the oil rises.

Segments Overview:

The global oleochemicals market is segmented into product, application, and sales channels.

By Product
Alkoxylates
Fatty Acid Methyl Ester
Fatty Amines
Glycerol Esters
Fatty Acids
Fatty Alcohols
Glycerin
Triacetin
Specialty Esters
Others

The alkoxylates segment accounts for the largest share of more than 40% due to their increasing use in detergents, emulsifying agents, wetting agents, and stabilizers, among others. The fatty alcohol segment is expected to grow at the fastest CAGR owing to its rising use in the cosmetics and pharmaceutical industry.

By Application
Consumer Goods
Food & Beverages
Healthcare & Pharmaceuticals
Industrial
Paints & Inks
Personal Care & Cosmetics
Polymer & Plastic Additives
Soap and Detergents
Textiles
Others

The soap & detergents segment accounted for the largest share due to the growing usage of oleochemicals in this sector, as the demand for natural soaps and detergents is rising. On the other hand, the healthcare & pharmaceuticals segments are anticipated to grow at the fastest growth rate of around 8.1% owing to the high demand for oleochemicals to manufacture topical medicinal products.

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By Sales Channel
Direct
Indirect

The direct segment is expected to hold the largest market share, as most of the industries using oleochemicals adopt direct sales channels for selling their products. The indirect segment is expected to hold the second-largest market share.

Regional Overview

On a regional basis, the global Oleochemicals market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific region accounted for the largest market share of more than 60% in the global market owing to the rising demand for sustainable plastics, which has led to the rising demand for its raw materials, such as fatty acids and other bio-based polymers.

The Middle East & Africa region held the second largest market share in the global market, owing to the presence of various companies manufacturing different types of oleochemicals. The North American region is also anticipated to demonstrate significant growth during the forecast period.

Competitive Landscape

Key players operating in the global oleochemicals market are present majorly in Indonesia, Malaysia, and the Philippines. The cumulative market share of the fourteen major players is near about 60%. Therefore, it can be concluded that there is high competition in the market.

Malaysia-based companies include Emery Oleochemicals (M) Sdn Bhd, Emery Oleochemicals Group, FGV Holdings Berhad, Greenwell Oleochemicals SdnBhd, IOI Corporation Bhd, KLK OLEO, Malaysian Oleochemical Manufacturers Group, Pacific Oleochemicals Sdn Bhd, Sime Darby, and Timur Oleochemicals Malaysia Sdn Bhd.

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Indonesia-based companies include Aribhawana Utama, Cisadene Raya, Ecogreen, Imora, PHG (Permata Hijau Group), Sinar Mas Group, and other prominent players. Philippines-based companies include Chemrez Technologies, Inc., JNJ Oleochemicals, Incorporated, Pan Century Surfactants Inc., Pepmaco Manufacturing Corp., Philippine International Dev., Inc. (Phidco, Inc.), and other prominent players.

The market also consists of many global players such as Alnor Oil Co, Inc., BASF SE, Cargill Incorporated, Corbion N.V, Eastman Chemical Company, Evyap-Oleo, Gliserin San, Godrej Industries, Isosciences LLC, Kao Chemicals, Musim Mas, Nouryon, Oleon NV, P&G Chemicals, PTT Global Chemical Public Company Limited, SABIC, Sakamoto Yakuhinkogyo Co., Ltd., Stepan Company, Vantage Specialty Chemicals, Inc., and Wilmar International Ltd., among others.

All these players are involved in various strategic developments, such as mergers & acquisitions, product launches, collaborations, and expansions, among others. For instance, in April 2021, Emery Oleochemicals developed a bio-based alternative to castor-based PVC lubricants, such as 12 Hydroxystearic acids (12-HSA). The bio-based alternative is known as Loxiol G 19 and is highly compatible with PVC. It also provides good anti-plate-out properties and reduces stickiness.

Table Of Content:

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation

……..and view more in complete table of Contents

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The global oleochemicals market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global oleochemicals market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global oleochemicals market report answers questions such as:

What is the market size and forecast of the Global Oleochemicals Market?
What are the inhibiting factors and impact of COVID-19 on the Global Oleochemicals Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Oleochemicals Market?
What is the competitive strategic window for opportunities in the Global Oleochemicals Market?
What are the technology trends and regulatory frameworks in the Global Oleochemicals Market?
What is the market share of the leading players in the Global Oleochemicals Market?
What modes and strategic moves are considered favorable for entering the Global Oleochemicals Market?

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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