The Specialty Oleochemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Specialty Oleochemicals Global Market Report 2024, The specialty oleochemicals market size has grown strongly in recent years. It will grow from $28.47 billion in 2023 to $30.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased demand for sustainable products, shift towards bio-based raw materials, awareness of environmental impact, regulatory support for renewable resources, diverse applications in end-use industries..
The specialty oleochemicals market size is expected to see strong growth in the next few years. It will grow to $41.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising preference for green chemistry, increasing demand in emerging economies, innovation in product development, expanding applications in the healthcare sector, strategic collaborations and partnerships.. Major trends in the forecast period include increased use in the food and beverage industry, shift towards bio-based surfactants, technological innovations in oleochemical production, rising application in lubricants and greases, exploration of high-value specialty oleochemicals..
The increasing consumer demand for beauty and cosmetics products is expected to propel the growth of the specialty oleochemicals market going forward. Beauty and cosmetic products include ingredients, textures, perfumes, and packaging. Oleochemicals are considered safe in beauty and cosmetic items as they are derived from natural sources. The consumer’s demand for organic and safe products will promote the use of oleochemicals in beauty and cosmetics products. For instance, in April 2023, according to a report published by the International Trade Administration a US-based government agency, in China, sales of cosmetics and beauty products grew 10% from 2020 to reach $88 billion in 2021. Therefore, the increasing consumer demand for beauty and cosmetics products is driving the growth of the specialty oleochemicals market.
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The specialty oleochemicals market covered in this report is segmented –
1) By Product: Specialty Esters, Fatty Acid Methyl Esters, Glycerol Esters, Alkoxylates, Fatty Amines, Other Products
2) By Application: Personal Care And Cosmetics, Consumer Goods, Food Processing, Textiles, Paints And Inks, Industrial, Healthcare And Pharmaceuticals, Polymer And Plastics Additives, Other Applications
3) By End User: Food And Beverages, Personal Care And Cosmetics
Product innovations are a key trend gaining popularity in the specialty oleochemicals market. Companies operating in the specialty oleochemicals market are innovating new products to sustain their position in the market. For instance, in September 2020, Emery Oleochemicals, a USA-based manufacturer of specialty chemicals and high-performance chemicals, launched a bio-based E fatty acid esters product. These fatty acid esters have high color stability, and a mild odor, and are easily degraded. EMERY E bio-based esters can be used as an eco-friendly replacement for petrochemical-based components in the formulation of several consumer and industrial systems.
The specialty oleochemicals market report table of contents includes:
1. Executive Summary
2.Specialty Oleochemical Market Characteristics
3. Specialty Oleochemical Market Trends And Strategies
4. Specialty Oleochemical market analysis
5.Specialty Oleochemical Market Size And Growth
6.Specialty Oleochemical Segmentation
7. Specialty Oleochemical Regional And Country Analysis
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27. Specialty Oleochemical Competitive Landscape And Company Profiles
28.Specialty Oleochemical Key Mergers And Acquisitions
29.Specialty Oleochemical Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Evonik Industries AG
- Vantage Specialty Chemicals Inc.
- Emery Oleochemicals LLC
- Wilmar International Ltd.
- Kao Corporation
- Ecogreen Oleochemicals GmbH
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