Overview and Scope
Specialty oleochemicals are chemical compounds that are substitutes for petroleum-based products and are derived from plant-based sources. The oleochemicals are used as natural components in lubricants, cosmetics, biodegradable polymers, and bio-surfactants among others.
Sizing and Forecast
The specialty oleochemicals market size has grown strongly in recent years. It will grow from $28.47 billion in 2023 to $30.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased demand for sustainable products, shift towards bio-based raw materials, awareness of environmental impact, regulatory support for renewable resources, diverse applications in end-use industries..
The specialty oleochemicals market size is expected to see strong growth in the next few years. It will grow to $41.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising preference for green chemistry, increasing demand in emerging economies, innovation in product development, expanding applications in the healthcare sector, strategic collaborations and partnerships.. Major trends in the forecast period include increased use in the food and beverage industry, shift towards bio-based surfactants, technological innovations in oleochemical production, rising application in lubricants and greases, exploration of high-value specialty oleochemicals..
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The specialty oleochemicals market covered in this report is segmented –
1) By Product: Specialty Esters, Fatty Acid Methyl Esters, Glycerol Esters, Alkoxylates, Fatty Amines, Other Products
2) By Application: Personal Care And Cosmetics, Consumer Goods, Food Processing, Textiles, Paints And Inks, Industrial, Healthcare And Pharmaceuticals, Polymer And Plastics Additives, Other Applications
3) By End User: Food And Beverages, Personal Care And Cosmetics
Asia-Pacific was the largest region in the specialty oleochemicals market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty oleochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing consumer demand for beauty and cosmetics products is expected to propel the growth of the specialty oleochemicals market going forward. Beauty and cosmetic products include ingredients, textures, perfumes, and packaging. Oleochemicals are considered safe in beauty and cosmetic items as they are derived from natural sources. The consumer’s demand for organic and safe products will promote the use of oleochemicals in beauty and cosmetics products. For instance, in April 2023, according to a report published by the International Trade Administration a US-based government agency, in China, sales of cosmetics and beauty products grew 10% from 2020 to reach $88 billion in 2021. Therefore, the increasing consumer demand for beauty and cosmetics products is driving the growth of the specialty oleochemicals market.
Key Industry Players
Major companies operating in the specialty oleochemicals market report are Evonik Industries AG, Vantage Speciality Chemicals Inc., Emery Oleochemicals LLC, Wilmar International Ltd., Kao Corporation, Ecogreen Oleochemicals GmbH, Oleon NV, IOI Corporation Berhad, KLK OLEO, HIG Capital LLC, The Vegetable Vitamin Foods Company Pvt. Ltd., Corbion NV, Godrej Industries Limited, Alnor Oil Co Inc., Ferro Corporation, Global Ecogreen Oleochemicals, Pan Century Oleochemicals, Timur Oleochemicals Malaysia, Pacific Oleochemicals Sdn Bhd, The Procter & Gamble Company, Musim Mas Holdings, VVF LLC, Evyap Sabun Yag Gliserin San ve Tic A.S., Lubrizol Corporation, Newell Brands Inc., Sensient Technologies Corporation, Emerald Performance Materials LLC, Chemtrade Logistics Inc., Koster Keunen Inc., Sasol Inc.
The specialty oleochemicals market report table of contents includes:
1. Executive Summary
2. Specialty Oleochemicals Characteristics
3. Specialty Oleochemicals Trends And Strategies
4. Specialty Oleochemicals – Macro Economic Scenario
5. Global Specialty Oleochemicals Size and Growth
…..
32. Global Specialty Oleochemicals Competitive Benchmarking
33. Global Specialty Oleochemicals Competitive Dashboard
34. Key Mergers And Acquisitions In The Specialty Oleochemicals
35. Specialty Oleochemicals Future Outlook and Potential Analysis
36. Appendix
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