Asia-Pacific Oleochemicals Market to Incur Rapid Extension During 2021 - 2028

The Asia-Pacific oleochemicals market is witnessing significant growth, fueled by increasing demand from end-user industries and a growing preference for sustainable and biodegradable products. However, fluctuating raw material prices pose a challenge to market expansion. Despite this, rising awareness about harmful chemicals in personal care products is expected to create lucrative opportunities in the coming years.

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According to a report by Allied Market Research, the Asia-Pacific oleochemicals market was valued at $14.8 billion in 2020 and is projected to reach $26.5 billion by 2028, growing at a CAGR of 6.5% from 2021 to 2028.

Market Segmentation & Key Insights:

- By Type: The fatty acids segment accounted for nearly half of the market share in 2020. However, the fatty alcohol segment is expected to witness the highest CAGR of 7.4% during the forecast period.

- By Application: The soap and detergents segment dominated in 2020, contributing to over one-fifth of the market share. Meanwhile, the personal care and cosmetics segment is projected to grow at the highest CAGR of 7.5% from 2021 to 2028.

- By Country: China led the market in 2020, accounting for over two-fifths of the total revenue. However, Vietnam is expected to record the highest CAGR of 8.9% during the forecast period.

Key Market Players:

Leading 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

- Global Green Chemicals

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