Oleochemicals Market Size, Share, Growth Analysis, By Type(Fatty Acids, Fatty Alcohols, Methyl Esters, Glycerin), By Application(Food & Beverages, Chemicals, Animal Feed, Others), By Region - Industry Forecast 2024-2031

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

• BASF SE
• Procter & Gamble Chemicals
• Wilmar International Ltd.
• IOI Oleochemicals
• Emery Oleochemicals Group
• Kuala Lumpur Kepong Berhad
• Godrej Industries Limited
• Cargill, Inc.
• Kao Chemicals
• Vantage Specialty Chemicals
• Musim Mas Group
• Akzo Nobel N.V.
• Oleon NV
• Oleo-Fats, Inc.
• PTT Global Chemical Public Company Limited
• Eastman Chemical Company
• Evonik Industries AG
• Sasol Limited
• Ecogreen Oleochemicals
• SABIC

Oleochemicals Market Recent Development

• In 2021, the Asia Pacific accounted for USD 15.08 billion. Asia Pacific 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.