Zion Market Research has published a new report titled “Oleochemicals Market (Fatty Acid, Fatty Alcohol, Glycerin, and Others) for Personal Care & Pharmaceutical, Food & Beverages, Soaps & Detergents, Polymers, and Other Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global oleochemicals market was valued at USD 18.6 billion in 2016, is expected to reach USD 26.8 billion in 2022 and is anticipated to grow at a CAGR of 6.3% between 2017 and 2022.
Oleochemicals are the chemicals derived from natural oils and fats from animals and plants. The oleochemicals are analogous to the petrochemicals derived from petroleum. Oleochemicals have the potential to replace a significant portion of petrochemicals, as these chemicals are derived from the renewable resources and are eco-friendly. Additionally, oleochemicals have various favorable properties, such as useful biological properties, emulsifying properties, and excellent surface activity.
Browse the full report at https://www.zionmarketresearch.com/report/oleochemicals-market
Oleochemicals are used in a variety of applications such as manufacturing soaps & detergents, personal care products, cosmetics, lubricants, and also used in pharmaceuticals; and food and beverages. Hence, growing demand from end-user industries fuel the oleochemicals market. Furthermore, demand for environment-friendly products drives global oleochemicals market in the forecast period. However, volatility in feedstock prices may negatively impact the oleochemicals market in future. Moreover, increased preference for green substitutes is expected to provide new avenues to the market.
The global oleochemicals market is segmented on the basis of product, application, and geography. The products in this market include fatty acids, fatty alcohols, glycerin, and others. In 2016, the fatty acid segment dominated the oleochemicals market accounting for around 53% of the overall oleochemicals market share in 2016. Among the various applications of oleochemicals, the personal care & pharmaceutical segment is expected to grow at a significant rate in the forecast period.
Geographically, Asia-Pacific dominated the global market, owing to high consumption and production of oleochemicals in the region. Easy availability of raw materials along with government support for bio-based products is anticipated to witness the highest growth in this region. The increasing demand for environmental friendly chemicals in the emerging economies such as India and China is expected to drive the growth of the global market. Other regional segments are also expected to witness healthy growth in the coming years.
Some of the important players in the global oleochemicals market are BASF SE, PTT Global Chemical Public Company Limited, Evonik Industries, Alnor Oil Co, Inc., Eastman Chemical Company, Cargill Incorporated, Godrej Industries, Isosciences LLC, P&G Chemicals, Arizona Chemical Company LLC, Emery Oleochemicals Group, and Myriant.