Oleochemicals Market - Global Industry Analysis 2018
India and China to Lead Global Oleochemicals Market
The increasing demand for environment-friendly products is likely to contribute to the growth of global oleochemicals market. In addition to this, the production of oleochemicals will also surge due to support from governments all over the world.
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The usage of oleochemicals is majorly seen in making personal care products, detergents, beverages, and other applications. Despite the promising future of the global oleochemicals market, analysts have predicted that this market could face a few restraints. A major factor expected to restrain the growth of the global oleochemicals market will be the increasing cost of feedstock.
Indonesia will give a Boost to Global Oleochemicals Market
The growth of the global oleochemicals market will witness a slowdown in Europe due to poor utilization rates. However, the surge in demand for oleochemicals in India and China is expected to offset this slowdown. Indonesia and Malaysia will also contribute to this upward swing, thereby driving the global oleochemicals market. The main contributor to the oleochemicals market in the Asia Pacific region will be Indonesia, as the country is the biggest producer of coconut oil, an ingredient that is used for manufacturing oleochemicals.
Geographically, the global oleochemicals market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). Research experts suggest, Asia Pacific will experience maximum growth in all the type segments, such as fatty alcohols, fatty acids, and glycerin. In 2011, Asia Pacific held a market share of 68% in the entire oleochemicals market. Asia Pacific also accounted for more than 60% of total global oleochemicals production capacity in 2011. Europe was the second largest market for oleochemicals with a share of 18% in 2011.
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Food and Beverages Segment of Global Oleochemicals Market to Grow at CAGR of 6.9%
The global oleochemicals market is segmented on the basis of type into fatty alcohols, fatty acids, and glycerin. Depending on the application, the global oleochemicals market is segmented into polymers, pharmaceuticals, food and beverages, detergents, personal care products, soaps, and other applications. Out of these applications, personal care products, soap, and detergents lead the application segment. However, research suggests that application of oleochemicals in the food and beverages segment will report the fastest growth from 2013 to 2018 at an impressive CAGR of 6.9%.
Some of the key players in the global oleochemicals market are Emery Oleochemicals, Gevo, Genomatica, Myriant, Evonic, Amyris, Solazyme, International, Wilmar, Codexis, Metabolix, and Goldschmidt.
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