Asia-Pacific Oleochemicals Market Strategies: How to Stay Competitive, 2028

The global Asia-Pacific oleochemicals market, valued at $14.8 billion in 2020, is projected to reach $26.5 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 6.5% from 2021 to 2028. Factors such as increased demand from end-user industries and a growing preference for sustainable and biodegradable products are propelling market growth. However, fluctuations in raw material prices pose a challenge. Nonetheless, rising awareness about harmful chemicals in personal care products presents promising opportunities in the foreseeable future.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/12199

The Covid-19 pandemic significantly impacted the oleochemicals market, disrupting demand and manufacturing activities. Lockdown measures led to the closure of manufacturing facilities in key sectors like automotive and construction, dampening the demand for oleochemicals. Supply chain disruptions, labor shortages, and increased raw material prices further compounded the challenges.

Segmentation of the Asia-Pacific oleochemicals market is based on type, application, and country. Fatty acids held the largest market share in 2020, while the fatty alcohol segment is expected to witness the highest CAGR of 7.4% during the forecast period. In terms of applications, the personal care and cosmetics segment is anticipated to register the highest CAGR of 7.5%. Meanwhile, soap and detergents dominated the market in 2020. Geographically, China led the market in 2020, but Vietnam is expected to exhibit the highest CAGR of 8.9% during the forecast period.

Key market players in the Asia-Pacific oleochemicals market include Hancole, Ecogreen Oleochemical, Kao Corporation, KLK Oleo, IOI Corporation Berhad, P&G Chemicals, Sinarmas Cepsa Pte. Ltd., Musim Mas, Unilever Oleochemicals Indonesia, Timur Oleochemicals, Wilmar International Ltd., Emery Oleochemicals, Croda International Plc, Oleon NV, and Global Green Chemicals.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/asia-pacific-oleochemicals-market-A11834

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