Global Oleochemicals Market by Product (Glycerol Esters, Fatty Acid Methyl Ester), by Application (Paints & Inks, Industrial, Personal Care & Cosmetics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global oleochemicals markets were valued at USD 19.46 million in 2020. They are expected to grow at a compound annual rate (CAGR of 7.57%) between 2021 and 2028. The forecast period will see a rise in demand for products made from renewable, sustainable and bio-based chemicals. The high prices of petroleum products, and the shift to eco-friendly products will further boost product demand. Market growth is expected to be driven by the increased consumption of oleochemicals as fatty acids. These oleochemicals are used in the production of soaps, detergents, lubricants and varnishes.
Specialty esters, glycerol ester, alkoxylates and other products are some of the basic 0leochemicals products. These specialty esters make up one of the largest product categories. Fatty acids that are derived from animal fats, vegetable oils, or plant oils can be used in many industries, including personal care, cosmetic, food, and beverage.
The market is expected to grow due to rising consumption of specialty esters by end-use industries such as cosmetics and personal care products. Market growth will continue to be driven by the demand for biodegradable and sustainable products that reduce petrochemical dependence.
To reduce the cost and time required to reformulate and re-equip, manufacturers are taking steps to replace chemically-derived products by bio-based chemicals. Market growth will also be influenced by the rising demand for biobased plastics.
Product Insights
The largest share of specialty esters, which accounted for more than 33% of the total volume in 2020, was due to their wide use in rubber production and cosmetics as well as in pharmaceutical applications. There is a high demand for fatty alcohols when making detergents and surfactants, which means there are many growth opportunities.
Because of their unique properties such as emollients, fatty alcohols are used in cosmetics and pharmaceuticals. Cetyl (C16), alcohol is the most widely used product. It is essential in hair lotions, lipsticks, shaving creams and lip glosses. Cetyl and C18 alcohol have similar properties and are used mainly in dermatologic bases, bath preparations (bath oil, lotions and salts), antihistamine and other creams. Fatty alcohols are also the base for chemicals such as defoamers and metalworking lubricants. They can be used in emulsion stabilisers, defoamers or inks, perfumes.
Diethylene Glycol (DEG), and propylene glycol will be less used, which is expected to increase biodiesel production, and boost demand for glycerol. Companies are looking for alternative methods to purify crude glycerin due to increasing demand for crude glycerin to make biodiesel. Glycerin's market value is affected by its purity. This makes it more attractive to potential buyers. Over the forecast period, there will be an increase in demand for refined glycerin from various end-use industries and derivative (downstream manufacturing).
Application Insights
In 2020, the industrial application segment was responsible for 21.8% of total revenue. The highest revenue share is expected to be in the personal care and cosmetics sector by 2028, which will grow at the fastest rate of CAGR over the next years. This is due to the increasing demand from consumers for natural and eco-friendly products. Personal care companies have developed new technologies to address the growing demand for cosmetics as well as comply with regulatory requirements.
The U.S. will see an increase in demand for products by growing the end-user industries such as personal care and pharmaceuticals. Glycerol derivatives are expected to be in high demand due to their many applications in a variety of end-use industries, including food and beverages and pharmaceuticals. As surfactants and wetting agent can be made from oleochemicals, the cleaning products industry will continue to grow. Procter and Gamble is a European manufacturer of cleaning products. They mainly import oleochemicals from Indonesia and Malaysia.
Organic personal care products are growing in demand and often use bio-based materials or oleochemicals. The segment is expected to grow due to growing demand for organic and natural haircare, skincare, as well as other cosmetic products. Industry growth has been aided by approval from regulatory bodies such as FDA and USDA for organic products to be used in personal care products. Another important application sector is plastic. Plastics are mainly made from stearic acid (C16-18C18), which has a low level of unsaturated fat acids.
Regional Insights
Asia Pacific had the highest revenue share at over 40% in 2020. This is due to increased demand in different end-user industries for sustainable plastics.
Indonesia and Malaysia are the largest producers of base products for oil-based chemicals. Asia Pacific is the largest consumer of oleochemicals, and also produces more than half of global production. This large share can be attributed to the rapid growth of the end-use industry and easy availability of feedstock.
The forecast period will see a rise in product demand due to manufacturers' preference for natural chemicals to produce oleochemicals. North America is expected to experience significant growth between 2021 and 2028. The growth of the region market is expected to be supported by the expansion of different end-user industries in the U.S., including pharmaceuticals and personalcare & cosmetics.
Market Share Insights & Key Companies
There are only a few players who hold a larger market share. R&D has been a major focus of companies and they are currently working to produce bio-based lubricants that use oleochemicals such as soybean oil. Cargill, for example, has created an electrical insulation fluid using soybean oil.
In order to expand their product range, increase manufacturing capabilities, and better serve customers worldwide, companies are also looking at mergers and acquisitions. Emery Oleochemicals, for example, expanded its distribution partnership to Omya Inc. in November 2019. Emery is now leveraging Omya's technical support capabilities to Emery's U.S. clients for Green Polymer Additives, (GPA) products such as release agents and antifogging. The following are some of the most prominent players in the global market for oleochemicals:
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Cargill, Inc.
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SABIC
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Kuala Lumpur Kepong Berhad
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BASF SE
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Oleon N.V.
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IOI Group Berhad
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Wilmar International
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Kao Corp.
Up Market Research published a new report titled “Oleochemicals Market research report which is segmented by Product (Glycerol Esters, Fatty Acid Methyl Ester), by Application (Paints & Inks, Industrial, Personal Care & Cosmetics), By Players/Companies Kao Corp, Wilmar International, Cargill Inc, SABIC, Oleon NV, Kuala Lumpur Kepong Berhad, BASF SE, IOI Group Berhad”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Oleochemicals Market Research Report |
By Product | Glycerol Esters, Fatty Acid Methyl Ester |
By Application | Paints & Inks, Industrial, Personal Care & Cosmetics |
By Companies | Kao Corp, Wilmar International, Cargill Inc, SABIC, Oleon NV, Kuala Lumpur Kepong Berhad, BASF SE, IOI Group Berhad |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 229 |
Number of Tables & Figures | 161 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Oleochemicals Market Report Segments:
The market is segmented by Product (Glycerol Esters, Fatty Acid Methyl Ester), by Application (Paints & Inks, Industrial, Personal Care & Cosmetics).
Oleochemicals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Oleochemicals Market
Overview of the regional outlook of the Oleochemicals Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Oleochemicals Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Oleochemicals Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Glycerol Esters
2. Fatty Acid Methyl Ester
7. By Application:1. Paints & Inks
2. Industrial
3. Personal Care & Cosmetics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oleochemicals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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Reasons to Purchase the Oleochemicals Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oleochemicals Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Oleochemicals Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oleochemicals Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Oleochemicals Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Oleochemicals Market Size & Forecast, 2018-2028
4.5.1 Oleochemicals Market Size and Y-o-Y Growth
4.5.2 Oleochemicals Market Absolute $ Opportunity
Chapter 5 Global Oleochemicals Market Analysis and Forecast by Product
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Product
5.1.2 Basis Point Share (BPS) Analysis by Product
5.1.3 Absolute $ Opportunity Assessment by Product
5.2 Oleochemicals Market Size Forecast by Product
5.2.1 Glycerol Esters
5.2.2 Fatty Acid Methyl Ester
5.3 Market Attractiveness Analysis by Product
Chapter 6 Global Oleochemicals Market Analysis and Forecast by Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Application
6.1.2 Basis Point Share (BPS) Analysis by Application
6.1.3 Absolute $ Opportunity Assessment by Application
6.2 Oleochemicals Market Size Forecast by Application
6.2.1 Paints & Inks
6.2.2 Industrial
6.2.3 Personal Care & Cosmetics
6.3 Market Attractiveness Analysis by Application
Chapter 7 Global Oleochemicals Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Oleochemicals Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Oleochemicals Analysis and Forecast
9.1 Introduction
9.2 North America Oleochemicals Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Oleochemicals Market Size Forecast by Product
9.6.1 Glycerol Esters
9.6.2 Fatty Acid Methyl Ester
9.7 Basis Point Share (BPS) Analysis by Product
9.8 Absolute $ Opportunity Assessment by Product
9.9 Market Attractiveness Analysis by Product
9.10 North America Oleochemicals Market Size Forecast by Application
9.10.1 Paints & Inks
9.10.2 Industrial
9.10.3 Personal Care & Cosmetics
9.11 Basis Point Share (BPS) Analysis by Application
9.12 Absolute $ Opportunity Assessment by Application
9.13 Market Attractiveness Analysis by Application
Chapter 10 Europe Oleochemicals Analysis and Forecast
10.1 Introduction
10.2 Europe Oleochemicals Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Oleochemicals Market Size Forecast by Product
10.6.1 Glycerol Esters
10.6.2 Fatty Acid Methyl Ester
10.7 Basis Point Share (BPS) Analysis by Product
10.8 Absolute $ Opportunity Assessment by Product
10.9 Market Attractiveness Analysis by Product
10.10 Europe Oleochemicals Market Size Forecast by Application
10.10.1 Paints & Inks
10.10.2 Industrial
10.10.3 Personal Care & Cosmetics
10.11 Basis Point Share (BPS) Analysis by Application
10.12 Absolute $ Opportunity Assessment by Application
10.13 Market Attractiveness Analysis by Application
Chapter 11 Asia Pacific Oleochemicals Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Oleochemicals Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Oleochemicals Market Size Forecast by Product
11.6.1 Glycerol Esters
11.6.2 Fatty Acid Methyl Ester
11.7 Basis Point Share (BPS) Analysis by Product
11.8 Absolute $ Opportunity Assessment by Product
11.9 Market Attractiveness Analysis by Product
11.10 Asia Pacific Oleochemicals Market Size Forecast by Application
11.10.1 Paints & Inks
11.10.2 Industrial
11.10.3 Personal Care & Cosmetics
11.11 Basis Point Share (BPS) Analysis by Application
11.12 Absolute $ Opportunity Assessment by Application
11.13 Market Attractiveness Analysis by Application
Chapter 12 Latin America Oleochemicals Analysis and Forecast
12.1 Introduction
12.2 Latin America Oleochemicals Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Oleochemicals Market Size Forecast by Product
12.6.1 Glycerol Esters
12.6.2 Fatty Acid Methyl Ester
12.7 Basis Point Share (BPS) Analysis by Product
12.8 Absolute $ Opportunity Assessment by Product
12.9 Market Attractiveness Analysis by Product
12.10 Latin America Oleochemicals Market Size Forecast by Application
12.10.1 Paints & Inks
12.10.2 Industrial
12.10.3 Personal Care & Cosmetics
12.11 Basis Point Share (BPS) Analysis by Application
12.12 Absolute $ Opportunity Assessment by Application
12.13 Market Attractiveness Analysis by Application
Chapter 13 Middle East & Africa (MEA) Oleochemicals Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Oleochemicals Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Oleochemicals Market Size Forecast by Product
13.6.1 Glycerol Esters
13.6.2 Fatty Acid Methyl Ester
13.7 Basis Point Share (BPS) Analysis by Product
13.8 Absolute $ Opportunity Assessment by Product
13.9 Market Attractiveness Analysis by Product
13.10 Middle East & Africa (MEA) Oleochemicals Market Size Forecast by Application
13.10.1 Paints & Inks
13.10.2 Industrial
13.10.3 Personal Care & Cosmetics
13.11 Basis Point Share (BPS) Analysis by Application
13.12 Absolute $ Opportunity Assessment by Application
13.13 Market Attractiveness Analysis by Application
Chapter 14 Competition Landscape
14.1 Oleochemicals Market: Competitive Dashboard
14.2 Global Oleochemicals Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kao Corp
14.3.2 Wilmar International
14.3.3 Cargill Inc
14.3.4 SABIC
14.3.5 Oleon NV
14.3.6 Kuala Lumpur Kepong Berhad
14.3.7 BASF SE
14.3.8 IOI Group Berhad