What Has Been the Growth Trajectory for the Oleochemicals Market in Recent Years?
The oleochemicals market has seen considerable growth due to a variety of factors.
• The market size of oleochemicals has seen significant expansion in the recent past. The value is predicted to increase from $29.43 billion in 2024 to $32.13 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%.
The growth during the historic period is credited to a robust economic surge in developing markets, enhanced demand for eco-friendly plastics, and a hike in crude oil prices.
What are the Forecasted Growth and Key Factors of the Oleochemicals Market?
The oleochemicals market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the oleochemicals market is anticipated to experience accelerated growth over the coming years. It is projected to reach a valuation of $49.69 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.5%.
The market expansion during the forecast period can be ascribed to a number of factors, including positive governmental policies, a growing emphasis on organic personal care products, and the affordability and sustainability of raw materials. Major emerging trends for the period forecasted encompass an emphasis on augmenting investments, growing online visibility, partnerships and collaborations, the inauguration of new oleochemical manufacturing facilities, and mergers and takeovers.
What Main Forces Are Fueling Expansion In The Oleochemicals Market?
The rising demand for eco-friendly plastics is predicted to drive the oleochemical market. The environmental issues caused by the usage of plastic and other non-environmentally friendly materials have compelled both industries and consumers to switch to sustainable plastics. This shift is intended to curb the environmental damage caused by wasteful practices and also to improve the efficiency of business operations. This growing consumer demand for green plastics paves the way for new market opportunities specifically in the cosmetics, pharmaceutical, fashion, and food sectors for oleochemicals. For example, a report by the European Bioplastics e.V., a German association promoting the bioplastics industry across Europe, stated in April 2023 that the production capacity of worldwide bioplastics is set to rise significantly, from approximately 2.2 million tonnes in 2022 to an estimated 6.3 million tonnes by 2027. As a result, the growing demand for sustainable plastics is projected to bolster the oleochemicals market in the coming years.
How Is the Oleochemicals Market segmented?
The oleochemicals market covered in this report is segmented –
1) By Product: Fatty Acid, Fatty Acid Methyl Ester, Glycerol Esters, Fatty Alcohol, Fatty Amines, Other Products
2) By Application: Personal Care And Cosmetics, Soap And Detergents, Food And Beverages, Pharmaceuticals And Nutraceuticals, Others Applications
3) By Sales Channel: Direct, Indirect
Subsegments:
1) By Fatty Acid: Saturated Fatty Acids, Unsaturated Fatty Acids, Specialty Fatty Acids
2) By Fatty Acid Methyl Ester (FAME): Biodiesel, Surfactants, Lubricants
3) By Glycerol Esters: Mono-, Di-, And Tri-Glycerides, Glycerol Monostearate, Glycerol Esters Of Fatty Acids
4) By Fatty Alcohol: Linear Fatty Alcohol, Branched Fatty Alcohol, Natural Fatty Alcohol
5) By Fatty Amines: Primary Fatty Amines, Secondary Fatty Amines, Tertiary Fatty Amines
6) By Other Products: Surfactants, Emulsifiers, Lubricants
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What New Trends Are Influencing the Oleochemicals Market?
Major firms in the oleochemicals sector are forging alliances and collaborations to solidify their market standing. For instance, DKSH, a top-tier Swiss distributor of specialty chemicals and ingredients, allied with IOI Oleo, a Malaysian oleochemical manufacturer, in February 2022. The business development, marketing, sales, logistics, and distribution services for IOI Oleo's assortment of oleochemical specialties will be delivered by DKSH's Business Unit Performance Materials in six principal Asian Pacific markets that include Australia, New Zealand, the Philippines, Taiwan, South Korea, and Vietnam. Besides, in March 2022, a subsequent partnership took place, involving IMPAG AG, a Swiss entity engaged in sourcing and distributing raw materials for the life science and material science sectors, and Hobum Oleochemicals, a German producer and seller of oleochemicals. These alliances will enable the companies to present advanced bio-based answers for existing and emerging industrial uses.
Who Are the Key Players in the Oleochemicals Market?
Major companies operating in the oleochemicals market include:
• Wilmar International Limited
• Kuala Lumpur Kepong Berhad
• Kao Corporation
• BASF SE
• Evonik Industries AG
• IOI Group
• Emery Oleochemicals
• Godrej Industries
• Oleon Nv
• Eastman Chemicals Company
• Klk Oleo
• Ecogreen Oleochemicals (Singapore) Pte Ltd
• Pacific Oleochemicals Sdn Bhd
• Ptt Global Chemical
• Hangzhou Zanyu Oil Technology Co. Ltd
• Jiangsu Meiaisi Corp Ltd
• Taiko Palm-Oleo (Zhangjiagang) Co. Ltd
• Evyap Oleo
• Croda Industrial Chemicals
• Mirriko
• Pcc Group
• Glycerine.Ru
• Jedwards International Inc
• Solvent Systems International
• Ravago Chemicals North America
• Vantage Oleochemicals
• Oxiteno
• Materia Hnos
• Cremer Oleo Brazil
• Gulf Chemicals And Industrial Oils Co
• The Saudi Company Of Chemical Trading Ltd
• African Chemicals
• Refinex
• Tristar
What Is The Most Dominant Region In The Oleochemicals Market?
Asia-Pacific was the largest region in the oleochemicals market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the oleochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
