Oleochemical Fatty Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Oleochemical Fatty Acids Market: Snapshot
The global market for oleochemical fatty acids is expected to witness robust growth over the period of forecast. Various factors such as a growing market for green chemicals, easy availability of raw materials, and high demand coming from consumer markets are stimulating growth of the global oleochemical fatty acids market. However, the growth of the market is likely to adversely affected by the fluctuating prices of raw materials.
Oils and fats are vital raw materials that are needed for the making of oleochemicals, including fatty alcohols and amines, methyl esters, free fatty acids, and glycerol as a by-product. Oleochemicals refers to those chemicals that are extracted from oils and fats and are extensively utilized in personal and home care products. Oleochemical fatty acid refers to one of the chemicals in the oleochemicals class that is extracted through the process of hydrolysis of fats or oils.
The maximum usage for oleochemicals is for is for the making soaps and detergents. This usage comprises around 30% of market share for fatty acids and 55% for fatty alcohols. Lauric acid is used in the production of sodium lauryl sulfate and other related compounds, which are utilized to make soaps and various other personal care products.
Oleochemicals are finds its applications across many different industries. Agricultural chemicals, inks paper chemicals, adhesives & sealants, food processing, household care, industrial & institutional cleaners, wax & candles, lubricants and greases are some of the industries from which high demand for oleochemical fatty acids is driving the oleochemical fatty acids market.
Industry players of the global oleochemical fatty acids market are relentlessly opting for mergers and acquisitions to expand their existing product portfolio. Many new innovative ideas are emerging to keep the businesses floating in the coming years and gain upper hand in the competition.
Global Oleochemical Fatty Acids Market: Overview
The demand within the global oleochemical fatty acids market acids has been escalating on account of the popularity of cosmetic products across the world. Oleochemicals, in essence, refer to chemicals derived from fats and oils, to be used across a wide range of industries. The hydrolysis of fats or oils results in the formation of special types of fatty acids, known as oleochemical fatty acids. The demand for oleochemical fatty acids has been tracing an ascending trajectory of growth over the past decade. Several factors such as the utility of fatty acids, popularity of cosmetic products, and easy availability of oleochemicals have contributed towards the growth of the global oleochemical fatty acids market in recent times. The raw materials used for the manufacture of oleochemical fatty acids are easily available which has also created demand within the global oleochemical fatty acids market. Considering the aforementioned factors, the global market for oleochemical fatty acids is projected to expand at a skyrocketing pace in the years to come.
The global oleochemical fatty acids market may be segmented on the basis of the following parameters: type, application, and region. The segements mentioned above are a practical means to delve into the genesis of the global oleochemical fatty acids market.
A report on the global oleochemical fatty acids market acids is a descriptive account of multiple dynamics, forces, and trends that have aided the growth of the global market. The report differentiates between the various drivers of demand within the global oleochemical fatty acids market, and sheds value on all of the restraints pertaining to this market. Moreover, the business landscape and key strategies of the market vendors in the global oleochemical fatty acids market have also been elucidated in the report.
Global Oleochemical Fatty Acids: Trends and Opportunities
The demand within the global oleochemical fatty acids market has been rising on account of the growing popularity of cosmetic products. Personal grooming and care has emerged as key physiological aspect for human satisfaction, and this factor has directly contributed to market growth. Furthermore, the promotion strategies of vendors of cosmetic have also underhandedly aided the growth of the global oleochemical fatty acids market in recent times. The use of oleochemical fatty acids for the manufacture of animal feed is another factor that is projected to bring in titanic revenues within this market. Considering the above mentioned factors, the global oleochemical fatty acids market can be regarded as a lucrative haven for the vendors.
The manufacture of plasticizers and disinfectants also involves the use of oleochemical fatty acids. The relevance of these acids in the chemical industry is a key dynamics that shall aid market growth in the years to come. Candles, cleaning components, and waxes are also manufactured by blending oleochemical fatty acids with other materials. Hence, the global oleochemical fatty acids market is expanding at a robust rate in recent times.
Global Oleochemical Fatty Acids Market: Regional Overview
The oleochemical fatty acids market in North America is expanding at a robust rate, majorly due to the expansive chemicals industry in the US and Canada. Furthermore, the splendid growth of the industrial sector in China and India over the past decade has pushed demand within the market for oleochemical fatty acids in Asia Pacific.
Global Oleochemical Fatty Acids Market: Business Landscape
Some of the key players in the global oleochemical fatty acids market are BASF, Emery Oleochemicals, VVF Limited, and ABITEC Corp.
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