Global Specialty Oleochemicals Market Size To Worth USD 61.60 Billion By 2033 | CAGR of 8.09%
Category: Chemicals & MaterialsGlobal Specialty Oleochemicals Market Size To Worth USD 61.60 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Specialty Oleochemicals Market is to Grow from USD 28.30 Billion in 2023 to USD 61.60 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.09% during the projected period.
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Browse key industry insights spread across 249 pages with 110 Market data tables and figures & charts from the report on the "Global Specialty Oleochemicals Market Size, Share, and COVID-19 Impact Analysis, By Type (Fatty Acids, Fatty Alcohols, Methyl Esters, Glycerine), By Application (Food & Beverages, Chemicals, Animal Feed, Pharmaceutical, Personal Care Sector), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/specialty-oleochemicals-market
Specialty oleochemicals are produced from plant-based feedstocks namely sunflower, soybean, palm, and rapeseed oils. Specialty oleochemicals are naturally occurring biodegradable compounds. The increasing need for lubricants, biodegradable polymers, and biosurfactants by consumers is the reason behind the development in the use of specialty oleochemicals. The business is anticipated to benefit from the adoption of stringent petrochemical usage rules as well as the rising demand for biodegradable products. Vegetable oil might soon be employed in industrial settings due to the price volatility of essential oils and the growing concerns about food security in many developing countries. Oleochemicals have the potential to become more prevalent and eventually take the place of conventional oil-based products. However, market growth could be constrained by an expensive implementation.
The fatty acid segment holds the largest market share over the forecast period.
Based on type, the specialty oleochemicals are divided into fatty acids, fatty alcohols, methyl esters, and glycerine. Among these, the fatty acid segment holds the largest market share over the forecast period. The need for fatty acids in the personal care industry keeps them at the top. The fatty acids category currently holds a leading position in the market because raw ingredients are easily obtained and because organic personal care products are becoming more and more popular worldwide. Furthermore, fatty acids function as surfactants in detergents and soaps because of their amphipathic qualities. Fatty acid is a crucial component of numerous downstream derivatives, including elastomers, personal hygiene products, biocides, softeners, and wax for a range of industries. As a result, growth in the category is anticipated. They are widely used in industrial settings for food, cosmetics, medicines, lubricants, and polymers.
The personal care category holds the biggest market share during the projected period.
Based on application, the specialty oleochemicals are classified into food & beverages, chemicals, animal feed, pharmaceutical, and personal care sectors. Among these, the personal care category holds the biggest market share during the projected period. In the personal care and cosmetics sector, specialty oleochemical derivatives and formulations are utilized in creams, skincare, sun care, hair care, and dental care products. The growing demand for organic and anti-aging therapies to maintain a youthful appearance is driving the need for personal care products. This is then expected to drive demand for specialty oleochemical derivatives in the personal care and cosmetics application area.
Asia-Pacific is having the biggest share of the global specialty oleochemicals market over the forecast period.
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In Asia Pacific, specialty oleochemicals are expected to find the most lucrative regional market. This area presents a wealth of opportunities for a range of downstream sectors because of its strong industrial heritage. The region has an abundance of raw material resources, especially in Indonesia, Malaysia, and the Philippines, where the markets for palm and coconut oils have grown at extremely quick speeds. Due to the region's sizable captive market and wealth of raw materials, including palm oil and palm kernel oil, producers have been forced to expand their capacities.
Europe is predicted to grow fastest pace throughout the forecast period. European nations like Germany, France, and the Netherlands are major players in the oleochemicals business. Owing to the strict laws in the region and the growing demand from customers for sustainable products, specialty oleochemicals are being used in a variety of industries, including the personal care, cosmetics, and industrial sectors.
Major vendors in the global specialty oleochemicals market include, Vantage Specialty Chemicals, Kao Corporation, Musim Mas Holdings Pte. Ltd, Ferro Corporation, Peter Cremer North America LP, Twin Rivers Technologies, Berg + Schmidt GmbH & Co. KG, Emery Oleochemicals, P&G Chemicals, IOI Oleochemical Industries Berhad, Evonik Industries AG, AAK AB, Godrej Industries Limited, Behn Meyer Holding AG, and Others.
Recent Developments
- In July 2024, Adani Wilmar, a worldwide food and beverage conglomerate located in India that also develops oleochemicals, has purchased a 67% part in Omkar Chemicals, a specialized chemical company. The company plans to boost production at the factory, which is now running at less than 10% of its capacity.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global specialty oleochemicals market based on the below-mentioned segments:
Global Specialty Oleochemicals Market, By Type
- Fatty Acids
- Fatty Alcohols
- Methyl Esters
- Glycerine
Global Specialty Oleochemicals Market, By Application
- Food & Beverages
- Chemicals
- Animal Feed
- Pharmaceutical
- Personal Care Sector
Global Specialty Oleochemicals Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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