What is the Global market size of the Oleochemicals Market?

Global Oleochemicals Market size was valued at USD 33.1 billion in 2021 and is poised to grow from USD 35.43 billion in 2022 to USD 54.43 billion by 2030, growing at a CAGR of 6.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Oleochemicals Market?

To complete diverse research and development tasks, market leaders are taking strategic actions including partnerships and collaborations. They are able to offer cutting-edge products and keep their place in the global oleochemicals industry thanks to these activities. A good example of this is the collaboration between Genomatica and Covestro. Both businesses want to achieve market growth that is sustainable through this cooperation. The competitive environment for the worldwide oleochemicals market is somewhat fragmented as a result of the existence of numerous companies in it. 'BASF SE', 'Procter & Gamble Chemicals', 'Wilmar International Ltd.', 'IOI Oleochemicals', 'Emery Oleochemicals Group', 'Kuala Lumpur Kepong Berhad', 'Godrej Industries Limited', 'Cargill, Inc.', 'Kao Chemicals', 'Vantage Specialty Chemicals', 'Musim Mas Group', 'Akzo Nobel N.V.', 'Oleon NV', 'Oleo-Fats, Inc.', 'PTT Global Chemical Public Company Limited', 'Eastman Chemical Company', 'Evonik Industries AG', 'Sasol Limited', 'Ecogreen Oleochemicals', 'SABIC'

What is the key driver of the Global Oleochemicals Market?

Numerous industries, including those in food and beverage, medicines, personal care, cosmetics, polymer and plastics, and others heavily rely on these compounds. Both skincare and hair care products contain these environmentally friendly ingredients. The market is anticipated to expand rapidly due to the increased demand for hypoallergenic and chemical-free components from the cosmetics and personal care industry. Another aspect promoting expansion is their application in the food business. Oleochemicals are employed as flow and thickening agents as well as in food packaging that has received FDA approval. For instance, calcium stearate is employed in the production of sweets as a flow agent and food emulsifier.

What is the key market trend for the Global Oleochemicals Market?

Increase in demand from end-use industries: The end-use industries for oleochemicals include food and beverage, pharmaceuticals, and personal care.

Which region accounted for the largest share in the Global Oleochemicals Market?

In 2022, Asia Pacific accounted for USD 17 billion in 2022 and held the biggest market share for oleochemicals because of the region's high output of raw materials. The regional market is anticipated to grow as green alternatives are more adopted and raw materials become more readily available. For instance, the biggest producers of palm oil—the primary feedstock for oleochemical production—are Malaysia and Indonesia. Malaysia produced 25.8% of the world's total palm oil, according to the Malaysian Palm Oil Council (MPOC).North America is rapidly expanding and the market is primarily driven by consumers' growing knowledge of the negative consequences of chemical compounds in personal care and cosmetic products. Due to the increased need for biofuels, Europe is expected to grow significantly. The market growth is anticipated to be facilitated by rising consumer knowledge of the sustainability of biodiesel and the number of manufacturers of cosmetics and personal care products. Due to the region's improved economic and social climate, significant growth is predicted. Leading palm oil producers are Guatemala, Ecuador, and Colombia. The local market is likely to be driven by these factors. Due to a large number of surfactant and soap-making enterprises, the markets in Middle East & Africa is projected to experience significant expansion.

Oleochemicals Market Size

SkyQuest Technology's Oleochemicals market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Oleochemicals Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

Oleochemicals Market Insights

Oleochemicals Market size was valued at USD 35.43 Billion in 2023 and is poised to grow from USD 37.66 Billion in 2024 to USD 57.86 Billion by 2032, growing at a CAGR of 6.3% during the forecast period (2025-2032).

The rising demand for biodegradable products and increasing restrictions on petrochemical-based products are contributing to oleochemicals market growth. Animal fats and plant oils along with fossil fuel sources like petrochemicals are used for producing oleochemicals. The oleochemicals can also be manufactured by utilizing different chemical or enzymatic reactions by the manufacturers. The fluctuating crude oils prices is also increasing shift towards using of vegetable oils like palm and palm kernel oil as a primary feedstock for oleochemical production. Furthermore, the oleochemicals market is experiencing an advantageous edge because of the rising availability of raw materials. The demand for oleochemicals derivatives is increasing rapidly because of the high consumption of personal care, pharmaceutical, and food products. In the last few years, the demand for personal care products is increasing due to increase in disposable income, product innovation, and higher market penetration. Oleochemicals are extensively utilized in FMCG products like soaps, toothpaste, and moisturizing lotions, leading to the growth of the market.

The rising demand for green and eco-friendly products is also fueling the growth of the oleochemicals market. The increasing adoption of oleochemical-based components in industries like automotive and pharmaceuticals is increasing because it is made from natural and biodegradable solutions. Furthermore, innovations like effective processing and enzyme catalysts, production of oleochemicals is becoming easier. Many governments globally are imposing strict regulations to increase the usage of renewable resources while minimizing toxic chemicals, contributing to the growth of the oleochemicals market.

US Oleochemicals Market is poised to grow at a sustainable CAGR for the next forecast year.

Oleochemicals Market Report Snapshots

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Many manufacturers are investing in research and development activities for innovating and developing new products and processes. They are enhancing the efficiency of oleochemical production, discovering advanced applications, and improving the performance of current products. In addition, many oleochemicals market companies are focusing on sustainable practices by ensuring responsible sourcing of raw materials, particularly palm oil. Many organizations are also trying to obtain certifications like roundtable on sustainable palm oil (RSPO) for highlighting their dedication to eco-friendly production methods. Furthermore, key players are increasing their portfolios. They are producing a vast range of oleochemical derivatives, like fatty acids, glycerin, surfactants, and more, to fulfil specific industry requirements, leading to market growth. 'Emery Oleochemicals ', 'Evonik Industries AG ', 'Wilmar International Ltd. ', 'Kao Chemicals Global ', 'Ecogreen Oleochemicals ', 'Corbion N.V ', 'Cargill, Incorporated ', 'Oleon NV ', 'Godrej Industries ', 'IOI Corporation Berhad ', 'KLK OLEO ', 'Evyap ', 'JNJ Oleochemicals, Incorporated ', 'Sakamoto Yakuhin Kogyo Co., Ltd. ', 'Stepan Company ', 'Pepmaco Manufacturing Corporation ', 'Philippine International Dev. ', 'Kuala Lumpur Kepong Berhad ', 'BASF SE ', 'Croda Industrial Chemicals '

Growing Popularity of Green Chemicals: The increasing demand for greener, more cost-effective products, minimal processing, cheaper feedstock, and new product avenues are driving the commercialization of green chemicals. Growing consumer awareness of renewable oleochemicals and increasing environmental concerns drive the market. As per the latest oleochemicals market trends, the increasing cost of petrochemicals has boosted the popularity of green chemicals. Green chemicals include chemicals produced from bio-based feedstocks.

Asia Pacific is dominating with the largest oleochemicals market share. Asia-Pacific is a significant producer and consumer of oleochemicals in products such as personal care and cosmetics, pharmaceuticals, and soaps and detergents. Asia-Pacific will account for most production and world consumption in the forecast period. Malaysia and Indonesia are significant producers of oleochemicals derived from palm oils, such as fatty acids and alcohol. This has appealed to investments from many prominent companies, like Emery Oleochemicals, Wilmar, and BASF. This scenario has dramatically changed in recent years. Currently, most manufacturing plants are in Asia-Pacific, and new capacities are also being added in this region. 

Oleochemicals Market Size

Oleochemicals Market Insights

Oleochemicals Market Report Snapshots

FAQs

What is the global market size of Oleochemicals Market?

Who are the key vendors in the Oleochemicals Market?

What is the key driver of Oleochemicals Market?

What is the key market trend for Oleochemicals Market?

Which region accounted for the largest share in Oleochemicals Market?

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