Oleochemicals Market to Reach Over US$ 42.03 Billion by 2030 by Emergen Research

July 21 23:50 2022
Oleochemicals Market to Reach Over US$ 42.03 Billion by 2030 by Emergen Research
Oleochemicals Market | Emergen Research
Recyclability is a significant factor driving global oleochemicals market revenue growth

The Global Oleochemicals Market size is expected to reach USD 42.03 Billion in 2030 and register a steady revenue CAGR of 4.2% over the forecast period, according to latest analysis by Emergen Research. Oleochemicals market revenue growth is primarily driven by rising government regulations regarding use of environmentally friendly products. Oleochemicals are becoming more popular as sustainable alternatives as environmental rules tighten and non-renewable resources deplete. The oleochemical market is growing as a result of various factors, including existence of raw materials, high level of customer demand, and market expansion for green chemicals. Oleochemicals are expected to become more popular in products used in personal care, detergents, food, and drink. The fastest rate of growth is anticipated for glycerol over the next years due to rising popularity of its use in products such as personal care and food and beverage items.

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A recent trend in the market is use of oleochemicals for food & beverages. Oleochemicals are utilized to make sanitizers for food contact surfaces as well as food packaging that has received FDA approval. When making sweets, calcium stearate is used as a flow agent and as an emulsifier for food. When making candy, triple-pressed stearic acid is utilized as a mold-release agent in addition to a hardening additive in the food & beverage industry and also used for lubricants, grease, and metalworking. Oleochemical lubricants and greases reduce friction between moving components or seal gaps between mechanical parts and are mostly employed in automotive and industrial areas. Dioctyl sebacate is the perfect base for engine lubricating fluids due to its ability to withstand both cold and heat. On the other hand, rubber grade stearic acid, functions best when used to create lubricants and grease due to its low C18 level.

 

 

Some major companies in the global market report include Wilmar International Ltd., BASF SE, Eastman Chemical Company, Procter & Gamble, Cargill, Incorporated, Evonik Industries, Godrej Industries Limited, PTT Global Chemical Public Company Limited, Arizona Chemical, and Emery Oleochemicals.

Key Points of Oleochemicals Market:

Extensive coverage of the analysis of the Oleochemicals market

Key insights into the regional spread of the industry in key geographies

Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market

Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Oleochemicals market

Complete data about the key manufacturers and vendors in the Oleochemicals market

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Some Key Highlights From the Report

On 18 September 2020, Emery Oleochemicals announced the release of its EMERY E general-purpose fatty acid esters product line. These fatty acid esters offer good color stability, low odor, and good biodegradability. EMERY E bio-based esters are a sustainable alternative to petrochemical-based materials and can be used in the formulation of a wide range of consumer and industrial systems including bio-diluent, solvent, or plasticizer in ink, adhesive, coating applications, plastic additives, pigment binding, and dispersing co-agents.

The fatty acid segment is expected to account for a large revenue share over the forecast period. This is attributed to its increasing adoption of microbial fatty acid biosynthesis. Sustainable and inexpensive techniques for creating renewable chemicals and fuels are needed to serve the expanding population and economy while cutting carbon emissions. Oleochemicals are petrochemical substitutes that are often manufactured from limited resources such as animal and plant fats. There is a lot of interest in microbial fatty acid biosynthesis since it offers a way to make renewable oleochemicals. According to several studies, Escherichia coli has been genetically modified to create a range of oleochemicals including alkanes that can be used right away as biofuels. On the other hand, yeast Saccharomyces cerevisiae is more suited for industrial scale production due to its robustness, tolerance to challenging fermentation conditions, and widespread use in synthesis of bioethanol.

The pharmaceuticals and personal care segment is expected to account for a large revenue share in the global market over the forecast period owing to increasing application of oleochemicals. Oleochemicals can be used in pharmaceutical and nutraceutical sectors as emollients, thickeners, and preservatives. Isopropyl myristate functions as a moisturizer in topical medicinal treatments in addition to being used as an emollient or thickening agent in other pharmaceutical applications. Glycerin 99.7% is a humectant that is utilized in creation of dental care items as well as cough syrups. Oleochemicals are important ingredients in personal care products for maintaining healthy skin and hair and have increased in popularity, due to their potential to be free of allergies and carcinogens. Glycerin, also known as glycerol, is commonly used owing to its hydrating properties and is made from lipids found in plants. AHCOHOL 1618 is mostly made from vegetables, hypoallergenic, and a combination of synthetic and natural sources.

The North America market is expected to account for largest revenue share during the forecast period, which is primarily attributed to the region’s key market players’ increasing R&D activities and launch of new and innovative products. For instance, Univar offers over 150 oleochemicals with a natural base to producers in over 25 different industries in North America. They provide a wide variety of fatty acids, fatty alcohols, and fatty acids made from plant, animal, and vegetable oils. Products, such as food, personal care items, and numerous industrial uses, all employ these things. As a result, the region’s top market players are becoming more active, which is rising demand for oleochemicals and, in turn, driving market revenue growth.

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Emergen Research has segmented the global oleochemicals market based on type, application, and region:

Type Outlook (Revenue, USD Billion; 2019-2030)

Fatty Acid

Fatty Alcohol

Glycerin

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Pharmaceuticals & Personal Care

Food & Beverages

Soaps & Detergents

Polymers

Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Israel

Rest of Middle East & Africa

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Key Objectives of the Global Oleochemicals Market Report:

An all-inclusive analysis and forecast estimation of the market have been included in this report.

The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Oleochemicals market and its leading players.

The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.

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