The global oleochemicals market is
expected to reach more than USD 38.61 billion by 2026 with a CAGR of 5.9%
during the forecast period as per a new study released by Polaris Market
Research. The report “Oleochemicals Market [By Product Type (Fatty
Alcohol, Glycerin, Fatty Acid and Others); By Application (Food & Beverage,
Personal Care, Detergents & Soaps, Polymers and Others); By Regions]:
Market size & Forecast, 2017 – 2026”. provides an extensive
analysis of present market dynamics and predicted future trends
The growth in the demand for natural derived products of food and
beverage, pharmaceutical industries, chemicals are the main drivers to drive
oleochemicals market.
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Oleochemicals can be defined as various types of chemical products
which are derivatives from vegetable triglycerides or animals, they include
elements that are of petrochemical product origin. The basic oleochemicals are
fatty acids, fatty alcohols, glycerin and methyl esters. Many companies are
investing in research and development to innovate new formulations. Many
countries are taking active part in developing new formulations that can help
to cater to specific requirement from the end user industries. The companies
are shifting their focus on the usage of bio-diesel. Due to the stringent rules
and regulations in chemical industry, there has been rise in oil prices, this
will further decrease the demand for the chemicals. There is also significant
shift in the usage towards shale gas. Even though there are many challenges in
the market, there is always an advantage of oleochemicals over petrochemicals.
Therefore, there will be increase in demand for oleochemicals in the near
future.
The consumer has shifted their focus on having healthy and
nutritional food which are derived from natural origin. These is one of the
main factors to increase the demand for oleochemicals market. The industry is
volatile in making profit through depleting fossil fuels and this will be led
for more opportunities in the usage of bio diesel. Hence, with all these
advantages demand for these products are estimated to increase in the next few
years.
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Asia-Pacific is one of the largest markets for oleochemicals.
Increase in the production for palm kernel and palm oil is the driving factor
to increase the demand for oleochemical in Asia-Pacific region. There is a
rapid increase in the production of palm along with developing integration of
raw materials. This has become the main reason for the reorganization in global
oleochemical market. The key players in the industry are planning for many
production facilities in Europe and U.S.
The key market players in the oleochemicals market are, Ecogreen
Oleochemicals, SABIC, Evyap, China Sanjiang Fine Chemicals, Godrej Industries,
Archer Daniels Midland, Emery Oleochemicals, Vantage Specialty Chemicals,
Evonik Industries, BASF, Wilmar International, Kao Chemicals, Alnor Oil Co,
Isosciences LLC, Vegetable Vitamin Foods Company, Kuala Lumpur KepongBerhad,
Eastman Chemical Company, AkzoNobel, PTT Global Chemical Public Company
Limited.
