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Oleochemicals Market is Estimated to Witness High Growth Owing to Rising Demand from Personal Care Sector

05-24-2024 01:47 PM CET | Chemicals & Materials

Press release from: Coherent Market Insights

Oleochemicals Market

Oleochemicals Market

Market Overview:

Oleochemicals are derived from animal and vegetable oils and fats through processes such as hydrolysis and fractionation. They are extensively used in applications such as cosmetics, pharmaceuticals, soaps & detergents, food additives, lubricants, and plasticizers.

Market Dynamics:

The oleochemicals market is expected to witness significant growth over the forecast period owing to rising demand from personal care products. Rapid urbanization coupled with increasing consumer spending on personal care & cosmetic products is fueling the market growth. Additionally, growing preference of plant-derived ingredients in cosmetics over petroleum-based ingredients is also driving the oleochemicals market. Furthermore, oleochemicals find wide application as surfactants in household & industrial detergents. Escalating demand for sustainable and bio-based chemicals from detergent industry is another factor boosting the market of oleochemicals.

Increasing Demand for Bio-Based and Environmentally Friendly Chemicals

The oleochemicals market is being driven by the growing consumer preference for bio-based and eco-friendly products. Oleochemicals are mainly plant-based as they are derived from vegetable fats and oils. They act as safer alternatives to petroleum-derived chemicals, which are facing sustainability issues. Many industries such as personal care, food and beverages, and pharmaceuticals are replacing petrochemical ingredients with bio-based oleochemicals to meet regulatory compliance and improve their green credentials. Additionally, stringent environmental regulations in various countries are further catalysing the adoption of bio-based chemicals.

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Key Players Covered In This Report:

Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Corbion N.V, Cargill, Incorporated, and KLK OLEO

Market Segmantation:

By Product

Specialty Esters
Fatty Acid Methyl Esters
Glycerol Esters
Alkoxylates
Fatty Amines
Others

By Application

Personal Care & Cosmetics
Consumer Goods
Food Processing
Textiles
Paints & Inks
Industrial
Healthcare & Pharmaceutical
Polymer & Plastic Additives
Other

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Rising Consumption of Personal Care and Home Care Products

Another major factor stimulating market expansion is the burgeoning demand for personal care and home care products worldwide. Oleochemicals find widespread usage in these industries as emulsifiers, emollients, thickeners, and solvents. The global personal care industry has been flourishing due to the growing middle-class population with higher disposable incomes and their increasing investment in personal grooming and self-care products. Moreover, changing lifestyles, rising health and hygiene concerns post-COVID, and burgeoning e-commerce are augmenting the sales of home care products. This upsurge in demand acts as a key driver for the global oleochemicals market.

One Key Restrain Hindering Market Growth

Price fluctuations in the key raw materials used for oleochemical production, mainly palm oil and soybean oil, pose a threat to the steady growth of the market. The prices of these raw materials depend on various unpredictable factors like weather conditions, crop yield, and global supply-demand dynamics. Any supply shortages or bumper harvests can significantly impact the procurement cost of these feedstocks and ultimately the production cost of oleochemicals. This volatility in input prices makes long-term business planning difficult for manufacturers. It also hampers their ability to price oleochemical products competitively without affecting profit margins. Therefore, raw material price volatility remains a restraint that needs to be addressed for sustainable market expansion.

Rise of Renewable Diesel and Sustainable Aviation Fuel

The growing demand for renewable fuels like renewable diesel and sustainable aviation fuel presents a major growth opportunity for the oleochemicals market. Oleochemicals are emerging as popular renewable components for manufacturing these next-gen low-carbon fuels. Palm fatty acid distillate (PFAD), a co-product of oleochemical production, is increasingly used as a blending component in renewable diesel. Also, hydroprocessed esters and fatty acids (HEFA) derived from vegetable oils act as sustainable aviation fuel drop-ins. As governments and fuel producers focus on achieving cleaner fuel mandates and emission reduction targets, the production of such renewable fuels is anticipated to surge greatly in the coming years. This will, in turn, boost the consumption of oleochemical feedstocks and intermediates.

Rising Focus on Specialty and Performance Oleochemicals

After decades of domination by commodity oleochemicals like fatty acids, fatty alcohols, and methyl esters, the industry is witnessing a definite shift toward high-value specialty products. Market players are investing in R&D to expand their product portfolios beyond basic chemicals. There is a rising prevalence of enhanced, customized and novel performance oleochemicals with attributes like improved stability, enhanced delivery systems, and special functional benefits. These include products like emulsifiers, surfactants, emollients for personal care, lubricants and greases for industrial applications, and new slip agents and dispersants. The advantage of added functionality is drawing more customers from major end-use industries. As a result, specialty chemicals with product differentiation are emerging as an important trend, translating into improved profit margins for oleochemical producers.

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Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the bromine derivatives industry for strategy building.
A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
The report answers a number of crucial questions, including:

➥ Which companies dominate the global Oleochemicals Market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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