Press release
Sustainable Development Drives Oleochemicals Market Towards $49.69 Billion by 2029: Key Trends and Forecasts
Oleochemicals Market
The global oleochemicals market is seeing robust growth due to increased demand for sustainable plastics, positive government initiatives, and cost-efficient raw material sourcing strategies.
What Is The Projected Market Size Of The Global Oleochemicals Market And Its Growth Rate?
•The market has seen strong growth recently, rising from $29.43 billion in 2024 to $32.13 billion in 2025 at a CAGR of 9.2%.
•This elevation can be accredited to economic growth in developing markets, increased demand for sustainable plastics, and a surge in crude oil prices.
•The oleochemicals market is expected to continue on this trajectory, reaching $49.69 billion by 2029, with a projected CAGR of 11.5%.
What Is Driving The Growth In The Oleochemicals Market?
The rising demand for sustainable plastics has been pushing the oleochemical market forward. Enforced by environmental concerns caused by non-biodegradable materials, industries and consumers are shifting towards sustainable plastics. They aim to mitigate environmental burdens and increase operational efficiency. This shift has opened new opportunities for the oleochemicals market, primarily in cosmetics, pharmaceutical, fashion, and food industries. According to the European Bioplastics e.V., global bioplastics production capacity is expected to jump from 2.2 million tonnes in 2022 to approximately 6.3 million tonnes in 2027, thereby reinforcing the demand for oleochemicals.
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Who Are The Key Players Driving Oleochemicals Market Growth?
The oleochemicals market is primarily driven by several key players:
•Wilmar International Limited
•Kuala Lumpur Kepong Berhad
•Kao Corporation
•BASF SE
•Evonik Industries AG
•IOI Group
•Emery Oleochemicals
•Godrej Industries
•Oleon Nv
•Eastman Chemicals Company
What Are The Key Trends In The Oleochemicals Market?
Significant market trends include:
•Increasing investments
•Growing online presence
•Multiple partnerships and collaborations
•Launch of new oleochemical production plants
•Mergers and acquisitions
What Are The Segments Of The Global Oleochemicals Market?
The market can be segmented by:
1) Product: Fatty Acid, Fatty Acid Methyl Ester, Glycerol Esters, Fatty Alcohol, Fatty Amines, Other Products
2) Application: Personal Care And Cosmetics, Soap And Detergents, Food And Beverages, Pharmaceuticals And Nutraceuticals, Others Applications
3) Sales Channel: Direct, Indirect
Which Region Leads The Oleochemicals Market?
In 2024, Asia-Pacific held the largest share of the olchemicals market, and is also expected to be the fastest-growing region during the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Oleochemicals Market Global Market Report?
- Market Size Analysis: Analyze the Oleochemicals Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oleochemicals Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oleochemicals Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oleochemicals Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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Terminology Definition, Industry Chain, Industry Dynamics & Regulations and Global Market Overview
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