The global oleochemicals market was estimated at $25.7 billion in 2020 and is expected to hit $55.3 billion by 2030, registering a CAGR of 7.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Oleochemical is produced primarily from natural raw materials such as plant or animal fat. Activated carbon is frequently used to purify, decolorize, and deodorize fatty acids and their derivatives. Oleochemical are biodegradable and have little toxicity, making them environmentally friendly. Scientists and people alike consider these items to be natural, green, organic, safe, renewable, and biodegradable.
Surge in demand for green chemicals, high demand from end-use industries, and easy availability of raw materials are the key factors driving the demand for oleochemicals Furthermore, environmental regulations are becoming increasingly stringent and non-renewable resources are depleting.
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Oleochemicals are used in the production of food packaging approved by FDA as well as food contact surface sanitizers. In the food & beverage industry, triple pressed stearic acid is utilized as a mold-release agent. Increase in use of oleochemicals in the food industry coupled with expansion of the food industry in developing countries are expected to create growth opportunity for the oleochemicals market. Furthermore, oleochemicals are used in the production of household and industrial cleaning products such as surfactants, cleansing agents, emulsifiers, foam boosters, and degreasers.
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The report emphasizes on the major types of oleochemicals such as fatty acid, fatty alcohol, glycerol, and others. The fatty alcohol is further bifurcated into ethoxylate and others. The applications covered in the study include pharmaceuticals, personal care & cosmetics, food & beverages, soap & detergents, polymers, and others. Region wise, the oleochemicals market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the study highlights various factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players.
Impact Of Covid-19 On The Global Oleochemicals Market:
► The oleochemicals market witnessed value chain disruption owing to spread of COVID-19 and lockdown in major manufacturing countries. The outbreak of COVID-19 further increased the demand for oleochemicals, as they are used in products such as soap and disinfectants. As the consumer spending has shifted from cosmetics to essentials products such as soap and disinfectants, it increased the demand for oleochemicals from soap and disinfectant manufacturers.
► For instance, Wilmar expanded its production capacity of fatty amines. The aim of this expansion is to maintain supply for manufacturing disinfectants and COVID-19. However, the prices of raw materials have been changing, owing to spread of COVID-19 in the major raw material and oleochemical manufacturing countries such as Malaysia and Indonesia. Malaysia was under lockdown on two weeks from June 1, which decreased the output of palm oil because of workforce shortage. The scenario is expected to remain as they have extended the lockdown for two more weeks, i.e., till June 28.
► India’s demand for oleochemicals is expected to remain stable in 2021 as major home care manufacturers are working despite lockdown restrictions imposed to control the COVID-19. As the home care manufacturers are considered under essential category.
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Key Benefits For Stakeholders:
► This report provides an extensive analysis of the current and emerging market trends and dynamics of the oleochemicals market.
► The oleochemicals market trend analysis for all the regions is conducted by constructing estimations for key segments between 2021 and 2030 to identify the prevailing opportunities.
► The report assists to understand the strategies adopted by the leading companies in the industry.
► The oleochemicals market size will be provided in terms of kilotons and $million.
► This study evaluates competitive landscape of the oleochemicals industry to understand the market scenario globally.
► Extensive analysis is conducted by key player positioning and monitoring the top competitors within the oleochemicals market.
Key Market Players:
► Emery Oleochemicals
► Oleon NV
► KLK Oleo
► Musim Mas Group
► Croda International
► IOI Group
► Procter & Gamble Co
► Twin River Technologies
► Chemical Associates Inc
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