Oleochemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
Oleochemicals are obtained from various plant and animal fats. Various sources of oleochemicals includes natural raw materials such as, castor oil, soybean oil, vegetable, petrochemical feedstock and also from animal oils & fats. Oleochemicals are witnessed to gain popularity as they can act a substitute for the petroleum-derived products. The growing environment concerns can be a prominent factor for the adoption of biodegradable chemicals, which intends to fuel the growth of oleochemicals market.
Intermediate chemical are also obtained from oleochemicals, which include alcohol ethoxylates, alcohol ether sulfates, alcohol sulfates, monoacylglycerols and glycerols. Fatty acids are the key application of oleochemicals that have a significant demand from pharmaceutical, soap and laundry detergent, food and beverage industries, waxes, candles, lubricant, and paints & coatings. Surfactants, wetting agents, dispersing agents, emulsifying agents, solvents, and adjuvants are some of the vital inert ingredients produced by using oleochemicals. Surfactant is a prominent end use application of oleochemicals which is utilized in the manufacturing of detergents and household cleaning products.
Global Oleochemicals Market: Market Dynamics
Easy availability of feedstock and expansions of end-use industries drives the global market of oleochemicals over the forecast period. Increasing commercialization of bio-based products or oleochemicals-based products, will anticipate the product demand over forecast period. Oleochemicals are cost effective and extensively available substitute for industrial chemicals and fuels. These economic and ecological advantages are responsible for boosting the demand of oleochemicals around the globe. Depletion of world fossil fuels and resources is the major concern, which is leading to implementation of more stringent rule and regulations, and growing demand for cleaner technology and green fuels. This can be a prominent driver for the growth of global oleochemicals market over the forecast period. Research & develop sector are working on oleochemicals for development of new products and its substituent, which find its application in personal care & cosmetic, food industries, which intend to create a growth opportunity for oleochemicals market over forecast period. Demand for biodiesel is increasing which intend to raise the cost of biofuel prices, owing to the government rules and regulations. This factor can hinder the market growth of oleochemicals. Technological advancement required in manufacturing of oleochemicals arise as a barrier in growth of global market of oleochemicals.
COVID-19 Impact on Oleochemicals
The global coronavirus outbreak has caused severe disruption in the several regions across the world. The number of Covid-19 cases have rose exponentially and there are no significant measures to counter the global pandemic. Governments of various countries have adopted various measures such as social distancing, complete lockdown etc. The lockdown initiatives has hampered the flow of goods and people, slowed down economies, and is in the process of delivering a global recession. Countries such as Italy, USA, Spain, China, and Iran amongst others have been greatly affected by the global pandemic. There are more than a million cases of Covid-19 across the globe and more than fifty thousand deaths. HORECA (Hotels restaurants and cafes) are negatively impacted by this crisis, Processed and packaged food has been slightly impacted, and some of the ready to eat food products markets such as Maggie and oats has been impacted positively as people are buying this product in bulk quantity all this impact on food industry will directly hamper the global oleochemicals market owing to its application in food & beverage industry. Owing to the application of oleochemicals in soap and detergents the market of oleochemicals will have slight growth with the large consumption of soaps in this COVID-19 condition.
Global Oleochemicals Market: Segmentation
The global market of oleochemicals can be segmented on the basis of type, physical forms and application:
On the basis of type the global market of oleochemicals can be segmented as:
On the basis of physical forms the global market of oleochemicals can be segmented as:
On the basis of application the global market of oleochemicals can be segmented as:
Global Oleochemicals Market: Regional Outlook
It is witnessed to have large number of manufacturers in Southeast Asian countries such as Indonesia and Malaysia along with high demand for local markets has been a key factor for driving the regional oleochemicals market. Government provides tax benefits for the emerging markets of India and China for the promotion of manufacturing of biodegradable chemicals is projected to drive the growth in this sector. Asia Pacific region, is witnessed to have prominent share of oleochemicals market for both production and consumption. Rising concern for bio-based cosmetic and personal care product in Europe region, is anticipated to fuel the growth of oleochemicals market in this region. In Europe and US oleochemicals are used in the form of fatty acids and fatty alcohols, which have its application in soap, and detergents, this factor can propel the market growth of oleochemicals in this region.
Global Oleochemicals Market: Market Participants
Example of some major key participants in the value chain of global oleochemicals market include are:
The Oleochemicals market research report presents a comprehensive assessment of the Oleochemicals market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Oleochemicals market research report provides analysis and information according to Oleochemicals market segments such as geographies, application and industry.
The report covers exhaustive analysis on,
The Oleochemicals Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Oleochemicals market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Oleochemicals market segments and geographies.
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