Oleochemicals Market To Report Impressive Growth, Revenue To Surge To US$ 26.8 Billion By 2022

10-Sep-2018 | Zion Market Research

With the presence of a large pool of participants, the global oleochemicals market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Arizona Chemical Company LLC, BASF SE, Eastman Chemical Company, and Cargill Incorporated are some of the key vendors of oleochemicals across the world. These players across oleochemicals market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the market study.

In a major move that has can impel oleochemicals market revenue, in August 2018, Inventure Renewables Inc.,  an Alabama-based firm, made the announcement to enter into partnership with  Wilmar International as well as Desmet Ballestra Group to construct a new manufacturing plant in Jiangsu province in China. For the record, the construction will commence in first quarter of the next year. Reportedly, the new manufacturing unit will make use of Inventure’s soap carbonate technique to transform low-value processing residual material into pure free fatty acid material.

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This review is based on a report by Zion Market Research, titled Oleochemicals Market (Fatty acid, Fatty alcohol, Glycerin, and Others) Market for Personal Care & Pharmaceutical, Food & Beverages, Soaps & Detergents, Polymers, and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”- Report at http://www.zionmarketresearch.com/report/oleochemicals-market

As estimated in this report, the global oleochemicals market stood at US$ 18.6 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in oleochemicals market is expected to reach US$ 26.8 billion by the end of the forecast period. The main products available in oleochemicals market are fatty acid, glycerin, fatty alcohol, and others. Among the three, the demand for fatty acid is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Global-Oleochemicals-Market

Rising Trend Towards Use Of Eco-Friendly Products To Steer Market Growth

“Growing preference for biodegradable products along with the need for reducing the consumption of petrochemicals is likely to elevate the growth of oleochemicals market in the years ahead,” says the author of this study. Apart from this, plethora of applications in personal care products, soaps & detergents, food & beverages, and pharmaceuticals will further impel the oleochemicals market scope over the ensuing years.

Tough competition from petroleum-based chemicals, however, is projected to prove as a key hurdle in the growth of oleochemicals market in the near future. Nevertheless, ample use of the product witnessed in various industries in the form of biosurfactants, lubricants, and biopolymers as substitutes for petroleum products will create new growth avenues for oleochemicals market within a span of next few years, thereby normalizing the impact of hindrances on the oleochemicals market, reports the study.

Enhanced Production & Use Of Oleochemicals To Augment APAC’s Dominance

Regionally, Asia Pacific has been leading the worldwide oleochemicals market and is anticipated to continue on the dominant position in the years to come, states the market study. High production & use of the product in the region is the main factor behind the dominance of the Asia Pacific oleochemicals market. Furthermore, availability of raw materials at ease and government policies favoring the use of bio-based materials is another significant factor that is supporting the growth of the oleochemicals market in the region. Growing environmental concerns in the countries such as India and China are forecast to favor the expansion of oleochemicals market in the near future.

The global oleochemicals market is segmented as follows:

By Product

  • Fatty acid
  • Fatty alcohol
  • Glycerin
  • Others

 By Application

  • Personal Care & Pharmaceuticals
  • Food & Beverages
  • Soaps & Detergents
  • Polymers
  • Others

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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