Oleo Chemicals Market Insights 2018-2023: Business Opportunities, Dynamics, Key Companies, Current Trends and Challenges
Analogous to petrochemicals, oleochemicals are derived from petroleum as well as from plant and animal fats. Market Research Future (MRFR) has published and released a research report about the global oleochemicals market that anticipates market advancement during the forecast period between 2017 and 2023.
The key factors that aid the market growth for oleochemicals include better dermatological compatibility, constant growth of raw material, demand for cosmetic products due to increased consumer spending in developed economies, eco-friendly nature, increasing demand for oleochemicals by automobile industry due to them being good lubricants, minor toxicity, oleochemicals replacing soaps & detergent products, rapid urbanization, and rising demand for oleochemicals in food & beverage industry. Oleo Chemicals are already replacing crude oil derived products in various applications.
- Arizona Chemical Company LLC (USA),
- BASF SE (Germany),
- Cargill Incorporated (USA),
- Eastman Chemical Company (USA),
- Emery Oleochemicals (USA),
- Evonik Industries AG (Germany),
- Godrej Industries Limited (India),
- PTT Global Chemical Public Company Limited (Thailand),
- Procter & Gamble (USA),
- Wilmar International Ltd. (Singapore)
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Based on application, this market has been segmented into soaps and detergents, but also the raw material for many intermediate compounds like alcohol ethoxylates, alcohol sulfates, acylglycerol, ammonium salts, coatings, lubricants, personal care, vulcanized rubber, and others.
By types, the market has been segmented into fatty acids, fatty alcohols, glycerol, methyl ester, and others.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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The regional segmentation of this market segments the market into continent-based regional markets namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA). According to the report, Asia Pacific is supposed to emerge as the leading market during the forecast period with the highest share in the global market, followed by North America and Europe respectively. Asia Pacific oleochemicals market is expected to grow moderately due to increasing incorporation into end-use industries such as food & beverages and soaps & detergents. The continuous growth of the automotive sector in various economies of the Asia Pacific such as China, India, Japan, Malaysia, and Thailand is expected to raise the demand for lubricants which in turn is predicted to fuel the demand for oleochemicals. Other important country-specific markets in this region are Australia and New Zealand, followed by the rest of Asia Pacific. Inventure Renewables has announced the successful implementation of its Mixed Super Critical Fluid technology at a Wilmar International Ltd. processing plant in Jiangsu province, China. The technology is being used to produce fatty acid methyl esters for biodiesel and oleochemicals from a wide range of vegetable oil feedstocks.
In North America, the United States of America (USA) has been predicted to be the major contributor to the market growth in this region. The demand for oleochemicals is expected to rise during the forecast period. After the USA, Canada is the biggest market in this region, in terms of value & volume. With the production of crude oil growing, the oleochemicals market is expected to grow.
During the forecast period, substantial market growth has been predicted due to increasing consumer spending on passenger cars, the involvement of new technologies, and inventions in oleochemicals in the Latin American countries such as Argentina, Brazil, and Colombia. Mexico is another important country-specific market in this region. Mexico is another significant country-specific market in this region, followed by the rest of Latin America.
In Europe, the demand for Oleo Chemicals is predicted to grow in various countries like France, Germany, Italy, Russia, Spain, and the United Kingdom (UK) due to the increased expenditure in innovation and growing purchasing power of consumers. Presence of major automobile manufacturers in this region, especially in Germany is also expected to boost market growth. Another important market in this region is Poland.
In the MEA region, the market is small but stable. The most significant country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and United Arab Emirates (UAE), followed by the rest of MEA region.
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