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Exploring the Oleochemicals Market: Comprehensive Analysis of Present and Future Industry Landscape || Cargill Inc., Kuala Lumpur Kepong Berhad, BASF SE, Oleon N.V
Oleochemicals Market
The Business Research Company's Oleochemicals Global Market Report 2023 the increased demand for sustainable plastics is the major driver for the oleochemicals market's growth in the forecast period. 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.
The global oleochemicals market size 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 size is expected to grow to $37.61 billion in 2027 at a CAGR of 8.7%.
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Major competitors 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.
A key trend in the oleochemicals market includes technological innovation. 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.
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The oleochemicals market is segmented -
• By Product: Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines
• By Application: Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles, Industrial, Healthcare & Pharmaceuticals
• By Sales Channel: Direct, Indirect
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the oleochemicals market.
The Business Research Company's "Global Oleochemicals Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Oleochemicals Market Include:
1. Executive Summary
2. Oleochemicals Market Characteristics
3. Oleochemicals Market Trends And Strategies
4. Oleochemicals Market - Macro Economic Scenario
5. Oleochemicals Market Size And Growth
……………
27. Oleochemicals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Oleochemicals Market
29. Oleochemicals Market Future Outlook And Potential Analysis
30. Appendix
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