Oleochemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Oleochemicals Market: Snapshot
Oleochemicals are those chemical substances that are derived from natural sources comprising animal fats and plant. The creation of basic oleochemical substances, such as fatty acids is through various enzymatic and chemical reactions. The global oleochemicals market is poised for significant growth, thanks to its growing application across diverse industries.
Fatty acids are, so far, the largest application for oleochemicals. This is owing to the high demand for its applications in the below-mentioned industries:
Different food and beverages make use of oleochemicals for the most part as emulsifiers inconfectionaries, cakes, and breads. Customized oils and margarine are produced by making use of oleochemicals. Another significant application of oleochemicals is in the making of nutrition enriched substances, which are broadly used as a part of packaged food products. In addition to that, these synthetic concoctions are furthermore used to make both plain and seasoned frozen yogurts across the globe.
Many companies with sound research & development capabilities are setting their eyes on business expansion in global oleochemicals market. They are making a move in that direction by introducing novel molecules with much wider applications.
Many prominent chemical manufacturing companies, such as DuPont, Arkema, Solvay, and BASF have moved from their primary business capabilities towards using plant-based biochemicals for the making of specialty polymers and products. This trend is expected to continue in the years to come. It will hold promise for companies involved in the creation of downstream potential of oleochemicals, such as glycerol, fatty alcohols, and acid esters. These reasons are likely to escalate the growth of the global oleochemicals market.
Oleochemicals Market Introduction
Oleochemicals are a type of compounds that are derived from plants and animal oils or fats. Basic oleochemical substances, such as glycerol and fatty acids, can be obtained by splitting the triglycerides structure of oils or fats, followed by the process of the chemical reaction of oleochemical substances, such as fatty acids, by modification of carboxylic acid group.
One of the biggest advantages of oleochemicals are that oleochemicals do not pose any risk of causing environmental pollution. Oleochemicals are readily biodegradable, which is one of the primary reason why their applications in various end-use industrial sectors are increasing. Players in the oleochemicals market produce nearly 80 varieties of oleochemicals, including fatty acids, glycerol, and fatty alcohol.
Oleochemicals Market – Notable Developments
Some of the most prominent competitors operating in the competitive landscape of global oleochemicals market include –
Oleochemicals Market Dynamics
Growing Demand for Oleochemicals in Wide-ranging End-use Industries will Drive Oleochemicals Market Growth
Even though consumers are spurning chemical products, oleochemicals find numerous applications in a wide range of industrial applications. The biodegradability of oleochemicals is one of the important factors why oleochemicals are witnessing tremendous demand across various industrial sectors. Personal care products and soaps & detergents are among the most popular applications of oleochemicals. Apart from these industries, the demand for oleochemicals is also increasing across pharmaceuticals, paints & coatings, food processing, and polymer industries, which is one of the primary drivers of the oleochemicals market.
Trade War between the United States (U.S.) and China is Impacting the Oleochemicals Market
While the oleochemicals market in the Asia-Pacific region continue to take shape, the trade war between the U.S. and China is influencing growth prospects of the global oleochemicals market. While the production capacities of high-quality oleochemicals have been undergoing expansion in the Asia Pacific, the U.S. has levied taxes on fatty acids imported from China. Furthermore, glycerin prices in the U.S. have been witnessing downward pressure because of the tariffs placed on soybean oil by the U.S. against China, which is another factor impacting growth of the oleochemicals market.
Stringent Regulations against Non-renewable Resources will Create Lucrative Opportunities for Oleochemicals Market Players
While the health-conscious consumers are turning away from chemical products to avoid their negative effects on health, various governmental organizations are also enforcing some rules and regulations to mitigate their impacts on the environment. Non-renewable or non-recyclable resources used in the manufacturing various products can pose harm to the eco-system, and thereby, many governing bodies are banning their use in end-use applications. Implementation of stringent environmental regulations is triggering manufacturers to replace many chemicals with environmentally friendly and biodegradable oleochemicals. This is expected to boost growth of the oleochemicals market in the upcoming years, by creating more opportunities to oleochemicals market players to foray into wide-ranging end-use industries.
Oleochemicals Market Segmentation
Based on the type of oleochemicals, the oleochemicals market is segmented into
Based on applications of oleochemicals, the oleochemicals market is segmented into
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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