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Palm Oil-Based Oleochemicals Market Key Players Analysis - KLK OLEO, IOI Oleochemical, Wilmar International Ltd., Emery Oleochemicals, Oleon NV.
Palm Oil-based Oleochemicals Market
According to the latest research by InsightAce Analytic, the Global Palm Oil-based Oleochemicals Market is valued at US$ 5.23 billion in 2023, and it is expected to reach US$ 7.02 billion by 2031, with a CAGR of 3.88% during the forecast period of 2024-2031.
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Oleochemicals are compounds derived from natural oils and fats, predominantly sourced from plants such as palm, coconut, and soybean, as well as animal fats. These compounds are produced through various processes, including hydrolysis, transesterification, and hydrogenation. The growing demand for oleochemicals is primarily driven by the abundant availability of raw materials, an increasing preference for sustainable alternatives, and rising demand from downstream industries. Additionally, the shift towards oleochemicals as substitutes for petroleum-based products is being accelerated by stricter environmental regulations and the gradual depletion of non-renewable energy resources. These factors are anticipated to continue fueling the expansion of the oleochemicals market.
List of Prominent Players in the Palm Oil-based Oleochemicals Market:
• KLK OLEO
• IOI Oleochemical
• Wilmar International Ltd.
• Emery Oleochemicals
• Oleon NV
• BASF SE
• PT. SUMI ASIH
• P&G Chemicals
• Cargill, Incorporated
• Godrej Industries Limited
• Galaxy Surfactants
Market Dynamics:
Drivers:
The growing demand for palm oil-based oleochemicals is primarily driven by an increasing emphasis on environmentally friendly polymeric materials. Rising environmental concerns associated with the use of petroleum-based products and other non-renewable materials are encouraging both consumers and businesses to shift towards recyclable plastics. The adoption of sustainable polymers aims to improve operational efficiency while minimizing environmental impact. This shift towards eco-friendly plastics is creating new opportunities for oleochemicals, particularly within the agriculture, pharmaceutical, cosmetic, and personal care industries. As a result, the rising demand for sustainable polymers is expected to fuel growth in the oleochemicals market.
Challenges:
The palm oil-based oleochemicals market faces several challenges, including intense competition and limited availability of raw materials, which may hinder market expansion. Petrochemical-based products, which are often more cost-effective and provide superior performance, present a significant competitive threat to oleochemicals, particularly in the manufacturing sector. Moreover, the limited availability of raw materials in certain regions could disrupt supply chains, posing additional challenges to the market's stability and growth potential.
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Regional Trends:
The North American palm oil-based oleochemicals market is anticipated to capture a significant share of global revenue and is projected to experience a strong compound annual growth rate (CAGR) throughout the forecast period. This growth is attributed to the expanding number of manufacturers in the personal care and cosmetic industries, as well as the increasing consumer awareness of the environmental benefits of biodiesel. Furthermore, the region's improving economic and social conditions are expected to further contribute to the market's expansion.
Similarly, Europe maintains a substantial market share, driven by heightened consumer awareness of environmental concerns, including climate change and ecological degradation. The market is also supported by an increasing focus on the sustainable management and disposal of bio-based materials, such as agricultural waste and animal-derived products. This shift toward sustainability is a critical factor propelling the growth of the palm oil-based oleochemicals market in Europe.
Recent Developments:
• In July 2024, KLK is increasing its capacity for processing oleochemicals in China. KLK's Taiko Palm-Oleo (Zhangjiagang) Co Ltd (TPOZ) owns and operates an oleochemical complex situated on 58 acres of land in a third-tier city around 130km from Shanghai. The expansion has transformed TPOZ into one of China's largest and most advanced oleochemical production facilities.
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Segmentation of Palm Oil-based Oleochemicals Market-
By Type
• Fatty Acids
• Fatty Alcohols
• Glycerol
• Fatty Esters
• Alkyl Polyglucosides
• Amides
• Sorbitan Esters
• Others
By Processing Method
• Fractionation
• Hydrolysis
• Hydrogenation
• Transesterification
• Distillation
• Crystallization
• Others
By End-use
• Personal Care and Cosmetics
• Food and Beverage
• Pharmaceuticals
• Home Care
• Industrial and Institutional Cleaning
• Lubricants and Greases
• Plastics and Polymers
• Textiles
• Agrochemicals
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/palm-oil-based-oleochemicals-market/2630
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
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Asia: +91 79 72967118
info@insightaceanalytic.com
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