Oleochemicals Market : A Strong Growth Outlook from 2023 to 2035
Research Nester published a report titled “Oleochemicals Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers a detailed overview of the oleochemicals market in terms of market segmentation by product type, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Oleochemicals are extremely beneficial chemicals that are sourced from plant and animal fats. Oleochemicals are observing growing popularity as they can be replaced for the petroleum-derived products. The growing environmental concerns are motivating the adoption of biodegradable chemicals, which is further boosting the growth in the oleochemicals market.
The oleochemicals market is anticipated to witness an achievable high CAGR during the forecast period, i.e., 2023-2035. The market is segmented by product type, application, and region. Among product types, the fatty acids segment is estimated to hold the major market share followed by fatty alcohols and glycerol during the forecast period on account of the great demand for fatty acids in various industries such as pharmaceutical, food preparation, cosmetics, personal care, and others.
Regionally, the oleochemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Asia-Pacific leads the global oleochemicals market, in terms of both value and volume. Additionally, it is also anticipated to witness the highest growth in the coming years, as a result of the recent developments and innovation in oleochemicals manufacturing plants in Asia that proposes excellent raw material integration and give producers competitive advantage above overseas competitors. Lower production cost & labor cost, and lenient rules in these regions are motivating manufacturers to grow their business in these regions, which is expected to drive the demand for oleochemicals in Asia-Pacific.
North America and Europe are projected to record reasonable growth over the forecast period on account of the growing preference for natural-based personal care products, rising awareness regarding the production, and the majority of key players based in the regions.
Strong preferences of oleochemicals over petroleum-based products owing to environmental concerns are majorly driving the overall market growth
Growing concerns for global climate change, unwavering energy, and fluctuating prices of crude oil are expected to increase demand for oleochemicals. They are chemicals, mainly derived from natural raw materials, and generally have low toxicity as compared to petrochemicals. Oleochemicals are biodegradable and reflected to be environment friendly. Oleochemicals come under the green products category and are used expansively in a wide range of applications and several developing applications, specifically, personal care, cosmetics, soaps & detergents, food additives, growing paints & coatings industry, rubber industry, paper, animal feed, lubricants, printing industry, and others.
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However, environmental concerns related to land availability and plantations and availability of other substitutes might hamper the growth of the overall oleochemical market in the forecast period.
This report also provides the existing competitive scenario of some of the key players of the oleochemicals market which includes company profiling of Emery Oleochemicals, Cargill, Incorporated, Vantage Oleochemicals, IOI Oleochemical, BASF SE (ETR: BAS), Du Pont, Oleon NV, Solvay (EBR: SOLB), Croda International PLC (LON: CRDA), P&G Chemicals (NYSE: PG). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the oleochemicals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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