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The oleochemicals market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 7%, as per The Business Research Company’s market report!

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The Oleochemicals Market Size In 2022 And Forecast

The global oleochemicals market is expected to grow from $22.85 billion in 2021 to $24.53 billion in 2022 at a compound annual growth rate (CAGR) of 7.38%. The global oleochemicals market size is expected to reach $32.61 billion in 2026 at a CAGR of 7.38%.

The oleochemicals market consists of sales of oleochemicals by entities (organizations, sole traders, and partnerships) that refer to chemical compounds sourced from vegetables, plants, and animal oils that can be used as raw materials in a variety of industries such as lubricants, pharmaceuticals, plastic, rubber, and animal feed industries.

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Increase In Demand For Sustainable Plastics Is Driving The Growth Of The Oleochemicals Market

For instance, in December 2020, European Bioplastics, an association representing the interests of the bioplastics industry in Europe, stated that global bioplastics production capacity is expected to rise from approximately 2.1 million tonnes in 2020 to 2.8 million tonnes in 2025 in Europe. Therefore, the increased demand for sustainable plastics is expected to boost the oleochemicals market during the forecast period.

Competitive Landscape And The Regional Analysis Of The Oleochemicals Market

Major players in the oleochemicals market are Cargill Inc., Kuala Lumpur Kepong Berhad, BASF SE, Oleon N.V., IOI Group Berhad, Wilmar International, Kao Corp, Emery Oleochemicals Group, Evonik Industries, KLK Oleo, SABIC, Evyap Oleo, Procter & Gamble Company, Croda Industrial Chemicals, and Ecogreen Oleochemicals.

Additionally, as per TBRC’s research – Asia-Pacific was the largest region in the oleochemicals market in 2021 holding the largest market share and is expected to be the fastest-growing region in the forecast period.

The Oleochemicals Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oleochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the oleochemicals market.

Technological Innovation – A Key Trend In The Oleochemicals Market

Major companies operating in the oleochemical market are focused on providing technologically innovative solutions to meet end-customer demands and strengthen their market position. These companies are innovating next-generation chemical solutions technologies into their solutions, such as bio-diluent, cosmetic emollient, dispersant, blowing agent management, rigid foam formulators, and others, to provide an alternative to fossil fuels.

Oleochemicals Market Segmentation By The Business Research Company

1) By Product: Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines

2) By Application: Personal Care and Cosmetics, Consumer Goods, Food Processing, Textiles, Industrial, Healthcare and Pharmaceuticals

3) By Sales Channel: Direct, Indirect

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