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., 2020-2028. 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.
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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.
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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.
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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Research
Nester is a leading service provider for strategic market research and
consulting. We aim to provide unbiased, unparalleled market insights, and
industry analysis to help industries, conglomerates, and executives to take
wise decisions for their future marketing strategy, expansion, and investment,
etc. We believe every business can expand to its new horizon, provided the
right guidance at the right time is available through strategic minds. Our out
of box thinking helps our clients to take wise decisions to avoid future
uncertainties.
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