Global Specialty Oleochemicals Market

Specialty Oleochemicals Market Size, Share, Growth Analysis, By Product(Specialty Esters, Fatty Acid Methyl Esters, Glycerol Esters, Alkoxylates), By Application(Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2364 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 72 |Figures: 75

Specialty Oleochemicals Market Insights

Global Specialty Oleochemicals Market size was valued at USD 9.43 billion in 2022 and is poised to grow from USD 10.01 billion in 2023 to USD 16.13 billion by 2031, growing at a CAGR of 6.15% in the forecast period (2024-2031). 

Specialty oleochemicals are chemical compounds which serve as the substitutes for petroleum-based products and derive from renewable plant-based sources. The oleo chemicals are known to be replaced by natural products such as lubricants, cosmetics, biodegradable polymers and bio-surfactants among others. The refined products of fat chemicals include specialty esters, fatty acid methyl esters, glycerol esters, alkoxylates, fatty amines, and others.

Specialty ester is ester used for manufacturing of a variety of products-medical, automotives, architectural, personal care, laundering among others. These are used in different purposes for example; in personal care and cosmetics, consumer goods, food processing, textiles, pigments and ink, industrial, health and pharmaceuticals, polymer and plastics additives, and others like in food and beverages, personal care and cosmetics.

The rising demands of the consumer for beauty and cosmetics products are partly responsible for the rapid growth of specialty oleochemicals. Through beauty and cosmetic products come ingredients, textures, and packaging to name a few. Oleochemicals are regarded as safe compounds in cosmetic and beauty products because the latter are made from natural sources.

The consumer’s demand for healthy and organic products will kindle the application of oleochemicals in hair care and beauty products. For instance, in April 2023, according to the International Trade Administration, a US based government agency, cosmetics and beauty products sales in China grew up 10% from 2020, reaching $88 billion in 2021. Thus, the rising consumer appetite for beauty and cosmetics products happens to be the driving force of the market for specialty oleochemicals. 

The specialty oleochemicals market is expected to achieve considerable gains as the stretching of the pharmaceutical sector will push the growth. The pharmaceutical sector uses specialty oleochemicals as the base for various excipients, emulsifiers, and other pharmaceutical compounds. For instance, in July 2022, according to the American Journal for Health-System Pharmacy, a US-based biweekly peer-reviewed medical journal covering all aspects of drug therapy and pharmacy practice specific to hospitals, overall, the spending on drugs in the United States increased by 7.7% from 2020 to $576.9 billion in 2021. Furthermore, it forecasts that there will be an increase of 4.0% to 6.0% in the total expenditure on prescription drugs in 2022 as compared to 2021. The increase will be 7.0% to 9.0% in clinics and hospitals while that of 2021 will be 3.0% to 5.0%. Therefore, the pharma market is the driver behind the growth of the specialty oleochemicals sector.

Market Snapshot - 2024-2031

Global Market Size

USD 9.43 billion

Largest Segment

Specialty Esters

Fastest Growth

Fatty Acid Methyl Esters

Growth Rate

6.15% CAGR

Global Specialty Oleochemicals Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Specialty Oleochemicals Market Segmental Analysis

The global specialty oleochemicals market is segmented by product, application, and regional. Based on product the market is segmented as, specialty esters, fatty acid methyl esters, glycerol esters, alkoxylates, fatty amines, others. Based on application the market is segmented as, personal care & cosmetics, consumer goods, food processing, textiles, paints & inks, industrial, healthcare & pharmaceuticals, polymer & plastics additives, others. Regional the market is segmented as, North America, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Analysis By Product

The specialty oleochemicals market, the "Specialty Esters" segment currently stands as the dominating force. Specialty esters, derived from oleochemical feedstocks, hold a wide range of applications across industries such as cosmetics, pharmaceuticals, and lubricants. Their versatility as emollients, solvents, and stabilizers makes them highly sought-after components in personal care products and industrial formulations. The demand for specialty esters is driven by their ability to enhance product performance and attributes, thus contributing significantly to the overall growth of the specialty oleochemicals market.

Concurrently, the "Fatty Acid Methyl Esters" (FAME) segment is emerging as the fastest-growing segment within the specialty oleochemicals market. FAMEs find extensive usage as biofuels and biodiesel additives due to their renewable and biodegradable nature. Additionally, they are employed in lubricants, plastics, and coatings, further propelling their demand. The increasing emphasis on reducing greenhouse gas emissions and transitioning toward sustainable energy sources is fostering the adoption of FAMEs in the automotive and energy sectors. As governments worldwide implement stricter environmental regulations, the FAME segment is poised to witness rapid growth as a vital component in the quest for greener alternatives.

Analysis By Application

The "Personal Care & Cosmetics" segment dominates the specialty oleochemicals market. Specialty oleochemicals are widely used in the personal care and cosmetics industries because of their all-natural makeup and useful qualities. These substances are used in skincare, cosmetics, and hair care products as emollients, emulsifiers, surfactants, and moisturizing agents. The demand for specialty oleochemicals in this niche of the market has been greatly fueled by the shift toward natural and sustainable ingredients, which has helped to establish its leadership.

Above that, the specialty oleochemicals market's "Healthcare & Pharmaceuticals" section shows the quickest growth. Due to their biocompatibility and prospective therapeutic characteristics, compounds generated from oleochemicals are highly valued by the pharmaceutical industry. Oleochemicals are used in drug delivery systems as excipients, and numerous medical uses for their bioactive components are being investigated. The need for sustainable and efficient components in medical and therapeutic processes is driving the specialty oleochemicals market in this area, which is growing quickly as the demand for green and organic solutions in healthcare and pharmaceuticals increases.

Global Specialty Oleochemicals Market By Product, 2023 (%)

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Specialty Oleochemicals Market Regional Insights

The dynamics of the specialty oleochemicals market varies by region, with Asia-Pacific accounting for the greatest market share. The sway of the region can be ascribed to the existence of significant oleochemical-producing nations like Malaysia, Indonesia, and Thailand. These nations play a significant role in the production of palm oil and other oilseed crops on a worldwide scale, supporting a robust market for specialist oleochemicals. The increasing food processing, cosmetics, and personal care businesses in the area also influence the high demand for these chemicals.

The specialty oleochemicals market is dominated by Asia, with Europe coming in second. Due to their emphasis on eco-friendly practices and the usage of bio-based materials, European nations like Germany, France, and the Netherlands are major players in the oleochemicals business. The use of specialty oleochemicals across a variety of applications in the region, including the personal care, cosmetics, and industrial sectors, has been prompted by the strict restrictions and customer preference for sustainable goods.

Global Specialty Oleochemicals Market By Region, 2024-2031
  • Largest
  • Fastest

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Specialty Oleochemicals Market Dynamics

Drivers

Growing Demand for Sustainable Products

  • As consumers and industries change their preferences to include ethical and green materials, the usage of specialty oleochemicals rises. Since they are derived from renewable sources, these components are viewed as more environmentally friendly replacements for petrochemical-based ones.

Increasing Demand in Cosmetics and Personal Care

  • The cosmetic and personal care sector extensively uses specialty oleochemicals since they have adaptable qualities and come from a natural source. The rising demand of natural and organic products in these industries directly affects the demand for ingredients derived from oleochemicals.

Restraints

Limited Awareness in Emerging Markets

  • In some areas, like developing nations, specialty oleochemicals are not well-known or understood due to restricted knowledge and accessibility, potentially hampering their adoption and eventual market expansion.

Regulatory Challenges

  • IT can prove to be difficult to adhere to regulatory certificates and requirements, especially in the cosmetics and healthcare sectors. Thus, the manufacturing of customized oleochemicals in order to satiate these standards essentially turns out to be challenging and expensive.

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Specialty Oleochemicals Market Competitive Landscape

A blend of reputable and well-established industry players and a flood of new island innovative entrants make up the competitive landscape of the global specialty oleochemicals market. Industry giants like BASF SE, Cargill, Wilmar International, Croda International, and Oleon N.V. lead the market, owing their position to their experience, expertise, global reach, and a variety of product offerings. These players use their R&D skills to develop specialty oleochemicals that can be applied to several industry needs, ranging from cosmetics to industrial applications.

Top Player’s Company Profiles

  • Cargill, Incorporated
  • Croda International plc
  • Oleon N.V.
  • KLK Oleo
  • P&G Chemicals
  • IOI Oleochemical Industries Berhad
  • Evonik Industries AG
  • AAK AB
  • Godrej Industries Limited
  • Behn Meyer Holding AG
  • Vantage Specialty Chemicals
  • Kao Corporation
  • Musim Mas Holdings Pte. Ltd.
  • Ferro Corporation
  • Peter Cremer North America LP
  • Twin Rivers Technologies
  • Berg + Schmidt GmbH & Co. KG

Recent Developments

  • BASF announced a new product for the personal care market in January 2023. The company, which is the largest chemical producer in the world, introduced a new line of bio-based oleochemicals that can be used in the production of personal care products.
  • Stepan Company announced an upcoming product that specifically caters to the food and beverage industry in February 2023. The company, which is an international manufacturer of specialty and intermediate chemical products, will release a newly developed specialty oleochemical which will meet the needs of several food and beverage companies.
  • Emery Oleochemicals reported a new development in their production process in March 2023. The company, which is a world-leading manufacturer of high-performance, natural-based specialty chemicals, stated it will be upscaling its production capacity for specialty oleochemicals.

Specialty Oleochemicals Key Market Trends

  • Natural Ingredients Usage: The specialty oleochemicals, like various global markets, has been greatly influenced by the ongoing trend of promoting sustainability and using natural ingredients. Food processing, personal care, and cosmetics are all using specialty oleochemicals in production. Why? As consumers look for items that use a reduced amount of synthetic chemicals, these industries are realizing oleochemical-derived ingredients are the way to go.
  • Eco-Friendly and Sustainable Practices: The rise in demand for specialty oleochemicals. has fueled market growth. Why is this ingredient being so widely adopted? As the world starts to focus and promote eco-conscious production processes and chemistry practices, the market will continue to grow. As a result of this trend, the producers of these products are making large investments in energy-efficient operations, reduced waste, and sustainable sourcing.

Specialty Oleochemicals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global specialty oleochemicals market analysis, the specialty oleochemicals market is witnessing robust growth driven by increasing consumer demand for sustainable and natural ingredients. These specialized derivatives, obtained from renewable sources like plant oils, are utilized across diverse segments such as personal care, cosmetics, food processing, healthcare, and more. The Asia-Pacific region, led by major oleochemical-producing countries, dominates the market due to their established supply chains. Meanwhile, Europe emphasizes eco-friendly practices, making it the second-largest region. Drivers include the shift towards green chemistry, the trend towards bio-based polymers and plastics, and the rise in personal care and cosmetics products containing natural ingredients. As industries seek eco-friendly alternatives and consumers prefer cleaner-label products, the specialty oleochemicals market is set to continue its growth trajectory.

Report Metric Details
Market size value in 2023 USD 9.43 billion
Market size value in 2031 USD 16.13 billion
Growth Rate 6.15%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Specialty Esters, Fatty Acid Methyl Esters, Glycerol Esters, Alkoxylates, Fatty Amines, and Others
  • Application
    • Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles, Paints & Inks, Industrial, Healthcare & Pharmaceuticals, Polymer & Plastics Additives, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Cargill, Incorporated
  • Croda International plc
  • Oleon N.V.
  • KLK Oleo
  • P&G Chemicals
  • IOI Oleochemical Industries Berhad
  • Evonik Industries AG
  • AAK AB
  • Godrej Industries Limited
  • Behn Meyer Holding AG
  • Vantage Specialty Chemicals
  • Kao Corporation
  • Musim Mas Holdings Pte. Ltd.
  • Ferro Corporation
  • Peter Cremer North America LP
  • Twin Rivers Technologies
  • Berg + Schmidt GmbH & Co. KG
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Specialty Oleochemicals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Specialty Oleochemicals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Specialty Oleochemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Specialty Oleochemicals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Specialty Oleochemicals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Specialty Oleochemicals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Specialty Oleochemicals Market size was valued at USD 9.43 billion in 2022 and is poised to grow from USD 10.01 billion in 2023 to USD 16.13 billion by 2031, growing at a CAGR of 6.15% in the forecast period (2024-2031). 

A blend of reputable and well-established industry players and a flood of new island innovative entrants make up the competitive landscape of the specialty oleochemicals market. Industry giants like BASF SE, Cargill, Wilmar International, Croda International, and Oleon N.V. lead the market, owing their position to their experience, expertise, reach, and a variety of product offerings. These players use their R&D skills to develop specialty oleochemicals that can be applied to several industry needs, ranging from cosmetics to industrial applications. 'BASF SE', 'Cargill, Incorporated', 'Wilmar International Limited', 'Croda International plc', 'Oleon N.V.', 'KLK Oleo', 'Emery Oleochemicals', 'P&G Chemicals', 'IOI Oleochemical Industries Berhad', 'Evonik Industries AG', 'AAK AB', 'Godrej Industries Limited', 'Behn Meyer Holding AG', 'Vantage Specialty Chemicals', 'Kao Corporation', 'Musim Mas Holdings Pte. Ltd.', 'Ferro Corporation', 'Peter Cremer North America LP', 'Twin Rivers Technologies', 'Berg + Schmidt GmbH & Co. KG'

As consumers and industries change their preferences to include ethical and green materials, the usage of specialty oleochemicals rises. Since they are derived from renewable sources, these components are viewed as more environmentally friendly replacements for petrochemical-based ones.

Natural Ingredients Usage: The specialty oleochemicals, like various markets, has been greatly influenced by the ongoing trend of promoting sustainability and using natural ingredients. Food processing, personal care, and cosmetics are all using specialty oleochemicals in production. Why? As consumers look for items that use a reduced amount of synthetic chemicals, these industries are realizing oleochemical-derived ingredients are the way to go.

The dynamics of the specialty oleochemicals market varies by region, with Asia-Pacific accounting for the greatest market share. The sway of the region can be ascribed to the existence of significant oleochemical-producing nations like Malaysia, Indonesia, and Thailand. These nations play a significant role in the production of palm oil and other oilseed crops on a worldwide scale, supporting a robust market for specialist oleochemicals. The increasing food processing, cosmetics, and personal care businesses in the area also influence the high demand for these chemicals.

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