Oleo Chemicals Market Research Report Growth, Size, Share, Overview - Forecasts to 2023
Oleo Chemicals are substitute compounds for synthetic compounds produced from petrochemicals. These are naturally obtained chemicals and generally derived from animal fats and natural oils from plants. The larger amounts of these oils and fats are synthesized by various chemical reaction into basic fatty compounds, important for use in the soaps & detergents, pharmaceuticals and oil-based industries.
As per our Analysis, some of the prominent market factors and trends identified in the Global Oleo Chemicals Market include rapid use of soaps & detergent products owing to supplement the expanding global population, rising demand for oleo chemicals in food & beverage industry, and demand for cosmetic products due to increased consumer spending in developed economies of Europe and North America.
Some of the prominent players operating in the Global Oleochemicals Market are BASF SE (Germany), Wilmar International Ltd. (Singapore), Procter & Gamble (U.S.), Eastman Chemical Company (U.S.), Cargill, Incorporated (U.S.), Evonik Industries AG (Germany), Godrej Industries Limited (India), PTT Global Chemical Public Company Limited (Thailand), Arizona Chemical Company, LLC (U.S.), and Emery Oleochemicals (U.S.) among others.
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The important reactions are saponification, hydrolysis, polymerization, inter-esterification and hydrogenation. Oleo Chemicals are starting to replace crude oil derived products in various applications such as soaps and detergents, raw material for many intermediate compounds like alcohol ethoxylates, alcohol sulfates, acyl glycerol and ammonium salts; lubricants and vulcanized rubber.
Moreover, demand for oleo chemicals is predicted to witness a significant growth over the assessment period due to the demand for lubricants in the automobile industry. Rising pharmaceutical production across the globe is anticipated to be an important driver for Oleo Chemicals Market during the review period. Increasing automobile production and sales along with rising consumption of lubricants is estimated to fuel the growth of the market.
Furthermore, rapid urbanization coupled with increasing disposable income in the emerging economies is predicted to propel the growth of the Oleo Chemicals Market during the assessment period, 2017 to 2023. Furthermore, due to its green image, constant growth of raw material, minor toxicity and better dermatological compatibility is anticipated to drive the market.
Oleo Chemicals Market by Segments:
The Global Oleo Chemicals Market is categorized on the basis of type, application, and region. On the basis of type, the market is bifurcated into fatty acids, fatty alcohols, methyl ester, glycerol and others. On the basis of application, the oleo chemicals market is categorized into soaps & detergents, intermediates, plastics, coatings, lubricants, rubber, personal care, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The Global Oleo Chemicals Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of high raw material availability in the region.
The demand for Oleo Chemicals is predicted to surge in numerous countries of the North America and Europe such as U.S., Canada, U.K, Germany and France due to high human development index (HDI) figures. However, the lack of raw material is allowing them to import from South East Asian countries is anticipated to surge the Oleo Chemicals end products prices.
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Asia Pacific has emerged as the leading market region for oleo chemicals followed by North America and Europe. North American Oleo Chemicals Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate.
In North American region, the U.S. is predicted to be the major contributor in the regional growth of Oleo Chemicals Market and is expected to see a significant demand for Oleo Chemicals during the forecast period, 2017 to 2023. As of 2016, the U.S accounted for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in the production of crude oil.
In Europe, the demand for Oleo Chemicals is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a new impetus to the market growth.
Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in oleo chemicals.
Asia Pacific oleo chemicals market is predicted to grow with the moderate CAGR due to increasing incorporation into end use industries such as food & beverages and soaps & detergents. Moreover, continuous growth of automotive sector in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for lubricants which in turn is predicted to fuel the demand for oleo chemicals over the forecast period, 2017 to 2023.
- Oleochemicals Manufacturers
- Traders and Distributors of Oleochemicals
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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