Global oleochemicals market

Global Oleochemicals Market Size, Share, Growth Analysis, By Type(Fatty Acids, Fatty Alcohols), By Application(Food & Beverages, Chemicals) - Industry Forecast 2022-2028


Report ID: SQSG15A2017 | Region: Global | Published Date: October, 2022 | Pages: 165

Global Oleochemicals Market Insights

Global Oleochemicals Market size was valued at USD 34.90 billion in 2021, and it is expected to reach a value of USD 55 billion by 2028, at a CAGR of 6.5% over the forecast period (2022 - 2028).

Oleochemicals are substances made from the natural oil and fat found in both plants and animals. These are made by separating the fatty acids and glycerol from the triglyceride structure of fats and oils. Oils and fats are subjected to methylation or hydrolysis to yield these compounds. Oleochemicals are used in a variety of products, including leather goods, rubber goods, hydraulic fluids, biodegradable base oils, culture media, soaps, shampoos, creams, and lotions for personal care and healthcare industries, soaps and detergents, and specialty culture media. They are also used as protective coatings in the paint and coatings industry. Additionally, these substances are used in the manufacture of waxes, biofuels, electronics, mining, and metal and foundry products. The opportunity for oleochemicals to enter the market and replace the conventional petroleum-based products now in use has been created by the ongoing tightening of environmental rules and the depletion of non-renewable resources. High consumer demand, simple access to raw materials, and a developing market for green chemicals are propelling the oleochemicals market expansion.

Oleochemicals producers mostly concentrate on agreements and partnerships to broaden their product line for a variety of applications and to increase their regional reach. The growth of the oleochemicals market in the Middle East, Brazil, and Asia-Pacific may be the secret to the success of manufacturers of oleochemicals.

Market snapshot

Global Market Size

USD 34.90 billion

Largest Segment

Fatty Acids

Fastest Growth

Fatty Acids

Growth Rate

6.5% CAGR

Global Oleochemicals Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Oleochemicals Market Size By Type 2022-2028 ($ Bn)
Global Oleochemicals Market Size By Type 2022-2028 (%)

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Global Oleochemicals Market Segmental Analysis

The global oleochemicals market has been segmented based on type, application, and region. Based on type, the market is segmented into fatty acids, fatty alcohols, methyl esters, and glycerin. Based on the application, the market is segmented into food & beverages, chemicals, animal feed, and others. Based on region, the oleochemicals market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Type

The fatty acids segment dominated the global oleochemicals market. The category is expected to grow as a result of rising demand for bio-based fatty acids from end-use industries such as personal care, cosmetics, chemicals, food & beverages, pharmaceuticals, and others. The increasing use of oleochemicals is predicted to result in significant demand for fatty alcohols and methyl esters. A strong growth rate in the glycerin category is projected due to rising product demand from the personal care and cosmetics industry.

Global Oleochemicals Market By Type, 2021 (%)

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Global Oleochemicals Market Regional Insights

In 2021, the Asia Pacific region had a market worth US$ 15.08 billion. In 2021, the Asia Pacific region had the biggest market share for oleochemicals because of the region's high output of raw materials. The regional market is anticipated to grow as green alternatives are more adopted and raw materials become more readily available. For instance, the biggest producers of palm oil—the primary feedstock for oleochemical production—are Malaysia and Indonesia. Malaysia produced 25.8% of the world's total palm oil, according to the Malaysian Palm Oil Council (MPOC).

North America is a region that is rapidly expanding. The market is primarily driven by consumers' growing knowledge of the negative consequences of chemical compounds in personal care and cosmetic products.

Due to the increased need for biofuels, Europe is expected to grow significantly. Growth is anticipated to be facilitated by rising consumer knowledge of the sustainability of biodiesel and the number of manufacturers of cosmetics and personal care products. Due to the region's improved economic and social climate, significant growth is predicted. Leading palm oil producers are Guatemala, Ecuador, and Colombia. The local market is likely to be driven by this. Due to a large number of surfactant and soap-making enterprises, Middle East & Africa is predicted to experience significant expansion.

Global Oleochemicals Market By Geography, 2022-2028
  • Largest
  • Fastest

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Global Oleochemicals Market Dynamics

Driver

  • Numerous industries, including those in food and beverage, medicines, personal care, cosmetics, polymer and plastics, and others heavily rely on these compounds. Both skincare and hair care products contain these environmentally friendly ingredients. The market is anticipated to expand rapidly due to the increased demand for hypoallergenic and chemical-free components from the cosmetics and personal care industry. Another aspect promoting expansion is their application in the food business. Oleochemicals are employed as flow and thickening agents as well as in food packaging that has received FDA approval. For instance, calcium stearate is employed in the production of sweets as a flow agent and food emulsifier.
  • Oleochemicals are produced from the feedstock of both plants and animals. Vegetable oil waste is a sustainable, affordable, low-cost, and low-toxic source of raw materials for manufacturing. They are a great alternative to chemicals made from petroleum. These chemicals are produced when waste vegetable oils are trans-esterified, epoxidized, and sulfurized. Surface-active agents (Biosurfactants) are widely employed in the petroleum industry.

Restraint

  • When using vacuum generating equipment and low-quality glyceric solutions, volatile organic compounds (VOC) may be emitted. The market expansion is anticipated to be hampered by this. As low molecular weight molecules break down when exposed to VOCs, odor release is another side effect.

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Global Oleochemicals Market Competitive Landscape

To complete diverse research and development tasks, market leaders are taking strategic actions including partnerships and collaborations. They are able to offer cutting-edge products and keep their place in the global oleochemicals industry thanks to these activities. A good example of this is the collaboration between Genomatica and Covestro. Both businesses want to achieve market growth that is sustainable through this cooperation. The competitive environment for the worldwide oleochemicals market is somewhat fragmented as a result of the existence of numerous companies in it.

Top Players in the Global Oleochemicals Market

  • Cargill Inc. (U.S.)
  • Kuala Lumpur Kepong Berhad (Malaysia)
  • BASF SE (Germany)
  • Oleon N.V. (Belgium)
  • IOI Group Berhad (Malaysia)
  • Wilmar International (Singapore)
  • Kao Chemicals (Japan)
  • Twin Rivers Technologies (U.S.)
  • Croda Industrial Chemicals (U.K.)
  • Evonik Industries (Germany)
  • Emery Oleochemicals (Malaysia)
  • Godrej Industries (India)

Recent Development

  • In 2021, the Asia Pacific region generated USD 15.08 billion. The Asia Pacific region dominated the global oleochemicals market because of the region's high output of raw materials. The regional market is anticipated to grow as green alternatives are more adopted and raw materials become more readily available. For instance, the biggest producers of palm oil—the primary feedstock for oleochemical production—are Malaysia and Indonesia. Malaysia produced 25.8% of the world's total palm oil, according to the Malaysian Palm Oil Council (MPOC).
  • The North America market is expanding rapidly.  The market is primarily driven by consumers' growing knowledge of the negative consequences of chemical compounds in personal care and cosmetic products.
  • Due to the increased need for biofuels, the Europe market is expected to grow significantly. Growth is anticipated to be facilitated by rising consumer knowledge of the sustainability of biodiesel and the number of manufacturers of cosmetics and personal care products. Due to the region's improved economic and social climate, significant growth is predicted. Leading palm oil producers are Guatemala, Ecuador, and Colombia. The local market is likely to be driven by this. Due to a large number of surfactant and soap-making enterprises, Middle East & Africa is predicted to experience significant expansion.

Global Oleochemicals Key Market Trends

  • Various agencies and divisions of government have attentively watched the fuels industry. The majority of fuel consumed today is made up of fossil fuels. According to data from Our World in Data, 135807 terawatt-hours of energy, which came from fossil fuels like coal, gas, and oil, were consumed. Global warming, ozone layer depletion, and pollution are just a few of the significant environmental issues the globe is facing as a result of pollution and the exhaustion of fossil resources. A developing trend is likely to be the creation and use of biofuels like biodiesel. Biodiesel is created by transesterifying natural oils and fats. It is projected that the use of such bio-based fuels would present a growth opportunity.

Global Oleochemicals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, by type, the fatty acid segment dominated the global oleochemicals market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global oleochemicals market owing to the region's increased output of raw materials.

Report Metric Details
Market size value in 2021 USD 34.90 billion
Market size value in 2028 USD 55 billion
Growth Rate 6.5%
Base year 2021
Forecast period 2022 - 2028
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Fatty Acids, Fatty Alcohols, Methyl Esters, Glycerin
  • Application
    • Food & Beverages, Chemicals, Animal Feed, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Cargill Inc. (U.S.)
  • Kuala Lumpur Kepong Berhad (Malaysia)
  • BASF SE (Germany)
  • Oleon N.V. (Belgium)
  • IOI Group Berhad (Malaysia)
  • Wilmar International (Singapore)
  • Kao Chemicals (Japan)
  • Twin Rivers Technologies (U.S.)
  • Croda Industrial Chemicals (U.K.)
  • Evonik Industries (Germany)
  • Emery Oleochemicals (Malaysia)
  • Godrej Industries (India)
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Oleochemicals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Oleochemicals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Oleochemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Oleochemicals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Oleochemicals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Oleochemicals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Oleochemicals Market size was valued at USD 34.90 billion in 2021, and it is expected to reach a value of USD 55 billion by 2028, at a CAGR of 6.5% over the forecast period (2022 - 2028).

To complete diverse research and development tasks, market leaders are taking strategic actions including partnerships and collaborations. They are able to offer cutting-edge products and keep their place in the global oleochemicals industry thanks to these activities. A good example of this is the collaboration between Genomatica and Covestro. Both businesses want to achieve market growth that is sustainable through this cooperation. The competitive environment for the worldwide oleochemicals market is somewhat fragmented as a result of the existence of numerous companies in it. 'Cargill Inc. (U.S.)','Kuala Lumpur Kepong Berhad (Malaysia)','BASF SE (Germany)','Oleon N.V. (Belgium)','IOI Group Berhad (Malaysia)','Wilmar International (Singapore)','Kao Chemicals (Japan)','Twin Rivers Technologies (U.S.)','Croda Industrial Chemicals (U.K.)','Evonik Industries (Germany)','Emery Oleochemicals (Malaysia)','Godrej Industries (India)'

Numerous industries, including those in food and beverage, medicines, personal care, cosmetics, polymer and plastics, and others heavily rely on these compounds. Both skincare and hair care products contain these environmentally friendly ingredients. The market is anticipated to expand rapidly due to the increased demand for hypoallergenic and chemical-free components from the cosmetics and personal care industry. Another aspect promoting expansion is their application in the food business. Oleochemicals are employed as flow and thickening agents as well as in food packaging that has received FDA approval. For instance, calcium stearate is employed in the production of sweets as a flow agent and food emulsifier.

Various agencies and divisions of government have attentively watched the fuels industry. The majority of fuel consumed today is made up of fossil fuels. According to data from Our World in Data, 135807 terawatt-hours of energy, which came from fossil fuels like coal, gas, and oil, were consumed. Global warming, ozone layer depletion, and pollution are just a few of the significant environmental issues the globe is facing as a result of pollution and the exhaustion of fossil resources. A developing trend is likely to be the creation and use of biofuels like biodiesel. Biodiesel is created by transesterifying natural oils and fats. It is projected that the use of such bio-based fuels would present a growth opportunity.

In 2021, the Asia Pacific region had a market worth US$ 15.08 billion. In 2021, the Asia Pacific region had the biggest market share for oleochemicals because of the region's high output of raw materials. The regional market is anticipated to grow as green alternatives are more adopted and raw materials become more readily available. For instance, the biggest producers of palm oil—the primary feedstock for oleochemical production—are Malaysia and Indonesia. Malaysia produced 25.8% of the world's total palm oil, according to the Malaysian Palm Oil Council (MPOC).

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Global oleochemicals market

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