The global oleochemicals market is forecast to reach USD 37.12 Billion by 2028, according to a new report by Reports and Data. Rapid growth in the production of kernel oil and palm oil is one of the significant factors in oleochemicals market growth. Reliable, efficient, and cost-effective oleochemical plants are ready to cater to incrementing demands. There is a rise in the acceptance of bio-based lubricants and they are replacing the traditional and synthetic lubricants, which in turn is improving the efficiency of vehicles.
Waste vegetable oils as a low-cost, sustainable, and low-toxicity feedstock are garnering more interests for the production of oleochemicals, which are ideal substitutes for petroleum-based chemicals widely prevalent in the petroleum industry. The compounds resulting from transesterification-epoxidation-sulfonation of waste vegetable oils have great potential as bio-based surface-active agents with extensive application in the petroleum industry. The oleo-surfactant from vegetable oils is gaining attention as an alternative to the costlier and non-biodegradable petrochemical-based surfactants currently in use.
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Further key findings from the report suggest
- Oleochemicals also act as an intermediary in pharmaceutical, rubber, plastic, paint and lubricant industries. The shift in demographics in the industrial structure of plastics, rubber, and surface-active agent industries coupled with transformation in the mode of development are fueling the fatty acids market.
- An important advantage of the fatty acid industry is the byproduct glycerin that is automatically generated when fats or oils are hydrolyzed. The amount generated depends on the material, such that, the harder oils generate more glycerin than the majority of softer oils or animal fats.
- Short-chain fatty acids can be utilized in multiple industries: personal care ingredients, agrochemical actives, flavor & fragrances, adjuvant ingredients, and food and feed additives. Industrial applications include aerospace, automotive, and industrial lubricants. Medium and long-chain fatty acids find their applications in several sectors, such as emulsifiers, textile chemicals, and plastic and rubber additives.
- Oleochemicals are derived from natural sources, including animal and plant fats. The formation of basic oleochemical substances like fatty acids by various chemical and enzymatic reactions. High demand for natural oleochemicals is increasing owing to its easy availability, cost-effective nature, and growing concern for the environment.
- Key participants include BASF SE, Wilmar International Ltd., Godrej Industries, Eastman Chemical Company, Evonik Industries, P&G Chemicals, Arizona Chemical Company LLC, Emery Oleochemicals Group, Cargill Incorporated, and Emery Oleochemicals Group, among others.
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Raw Material Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Natural
- Synthetic
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Fatty Acid
- Fatty Alcohol
- Glycerin
- Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Food and Beverage
- Pharmaceutical and Personal Care
- Soaps and Detergents
- Polymers
- Others
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Oleochemicals Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Oleochemicals Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Oleochemicals Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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