Global Specialty Oleochemicals Market

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

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

Specialty Oleochemicals Market News

  • 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.
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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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Global Specialty Oleochemicals Market

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