The Oleochemicals Market size was valued at USD 23.96 billion in 2023 and is expected to grow to USD 41.09 billion by 2031 and grow at a CAGR of 6.8% over the forecast period of 2024-2031.
Oleochemicals are mainly derived from natural fats and oils. It is the form of chemical compound that is used as a raw material or supplemental material in various industries. Oleochemicals can also be used as a substitute for petrochemicals (petroleum-based products). The replacement of petrochemicals with oleochemicals has begun in the late 1970s. This switching of chemical compounds is mainly due to the rise in prices of crude oil and the affordability of plant-based lauric oil which is extracted from the palm kernels. Generally, oleochemicals are produced by various chemical and enzymatic processes. These processes include hydrolysis (alcohol-based or water-based), hydrogenation, etc.
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Oleochemicals are used as an additive in a variety of industries such as surfactants, cosmetics, coatings, plasticizers, lubricants, detergents, plastics, textiles, etc. The most common use of oleochemicals is the production of biodiesel. Oleochemicals are environmentally friendly as they are biodegradable, natural, green, renewable, organic, safe, and have little toxicity. Oleochemicals are also used in the production of sanitizers which are used to disinfect food contact surfaces. The major oleochemicals are fatty acids which are derived from vegetable and animal fats and oil.
Drivers
Rising demand for biodegradable products
Increasing demand for oleochemicals from various end-use industry
Easily available raw material for the production of oleochemicals
Rising demand for green chemicals
Stringent environmental regulations imposed by the government on the use of non-renewable resources and petroleum-based products allow oleochemicals to enter the market and replace currently used petroleum-based products boosting the oleochemicals market rapidly. Moreover, increasing demand for environment-friendly biodegradable, organic, natural, and green products further drives the oleochemical market. This biobased product can also help to reduce pollution.
Restrain
Voltaic Organic Compound generation during pre-treatment of glycerin
Glycerin is the product of oleochemicals that is used in applications ranging from food to cosmetics. During the manufacturing of glycerin, VOC is produced which is harmful to human organs such as the throat, eyes, and nose. In addition, vapors of Voltaic Organic Compounds can cause nausea, damage to the kidney and liver, and damage CNS permanently. All these factors can hamper the growth of the oleochemical market.
Opportunities
Stringent regulation imposed by the government on using petroleum-based products
Challenges
Fluctuating raw material prices of oleochemicals
During the COVID-19 pandemic, The Malaysian Palm Oil Council (MPOC) has predicted a significant increase in the demand for oleochemicals due to their versatile applications in cleaning agents, sanitizers, and disinfectants. This prediction has proven to be accurate, as the rapid spread of COVID-19 has led to a surge in demand for oleochemicals to produce a variety of products that help to curb the spread of the virus. But local supply constraints, labor shortages, and stringent regulations imposed by the government impacted the oleochemical market at a certain level.
The decreased production of biodiesel during this pandemic further decreases the demand for oleochemicals as they are used in the production of biodiesel.
The Russian invasion of Ukraine has affected the oleochemical market significantly. The war has disrupted the supply chain of oleochemicals, as Ukraine is a major producer of sunflower oil, a key raw material used in the production of oleochemicals. The conflict has also led to a decrease in demand for oleochemicals, as the economic instability in the region has resulted in a decrease in consumer spending.
The downturn of the economy has impacted the oleochemicals market significantly. The market has experienced a decline in sales, production, and profitability due to the recession. The recession has caused a decrease in consumer spending, which has led to a decrease in demand for products that contain oleochemicals. This has resulted in a decrease in sales for companies that produce oleochemicals. Additionally, the recession has caused a decrease in production as companies have had to cut back on their operations due to decreased demand.
The profitability of the oleochemicals market has also been affected by the recession. Companies have had to reduce their prices in order to remain competitive, which has resulted in a decrease in profit margins. Additionally, the recession has caused companies to incur additional costs, such as increased debt and higher interest rates, which have further impacted profitability.
By Product
Specialty Esters
Fatty Acid Methyl Esters
Glycerol Esters
Alkoxylates
Fatty Amines
Others
By Application
Personal Care & Cosmetic
Consumer Goods
Textiles
Paints & Inks
Industrial
Healthcare & Pharmaceuticals
Polymer & Plastic Additives
Others
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Asia-Pacific region dominated the oleochemical market in 2022 with the highest market share of about 41.2%. This is due to the presence of key market players in the countries like Indonesia and Malaysia and the presence of abundant raw material resources such as palm oil and palm kernel oil. The rapid modernization and development in oleochemicals manufacturing plants in this region offer excellent production of oleochemicals which drives the market in terms of value and volume as well. Low manufacturing costs and a shift in customer preference towards the usage of renewable sources are the other important factors that help to propel the oleochemical market in this region.
Europe region is expected to show lucrative growth during the forecast period as Europe is the fastest-growing region in the oleochemical market. Increased demand for biodiesel as a substitute for conventional petroleum-based fuel drives the market of oleochemicals in this region. Strict regulation regarding environment-friendly products increases the demand for oleochemicals in Europe.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Kao Chemicals Global, Ecogreen Oleochemicals, Corbion, Cargill, Incorporated, Oleon NV, Godrej Industries, IOI Corporation Berhad, KLK OLEO, Evyap Sabun Yag Gliserin San ve Tic A.S., JNJ Oleochemicals Incorporated, Sakamoto Yakuhin kogyo Co., Ltd., Stephan Company, Pepmaco Manufacturing Corporation, Philippine International Dev., Inc. (Phidco, Inc.), and other key players mentioned in the final report.
The oleochemical market is experiencing a surge in popularity due to the introduction of innovative technology. Key players in the industry are focusing on providing technologically advanced solutions to meet the demands of end-users and solidify their position in the market. One such example is Emery Oleochemicals, a manufacturer of natural-based specialty chemicals, which recently announced its EMERY® E fatty acid esters product line in September 2020. These fatty acid esters offer superior color stability, and low odor, and are biodegradable, making them an attractive option for environmentally conscious consumers. This technological advancement is revolutionizing the oleochemical market and is expected to continue to drive growth and innovation in the industry.
| Report Attributes | Details |
| Market Size in 2023 | US$ 23.96 Bn |
| Market Size by 2031 | US$ 41.82 Bn |
| CAGR | CAGR of 6.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines, and Others) • By Application (Personal Care & Cosmetic, Consumer Goods, Food Processing, Textiles, Paints & Inks, Industrial, Healthcare & Pharmaceuticals, Polymer & Plastic Additives, and Others |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Kao Chemicals Global, Ecogreen Oleochemicals, Corbion, Cargill, Incorporated, Oleon NV, Godrej Industries, IOI Corporation Berhad, KLK OLEO, Evyap Sabun Yag Gliserin San ve Tic A.S., JNJ Oleochemicals, Incorporated, Sakamoto Yakuhin kogyo Co., Ltd., Stephan Company, Pepmaco Manufacturing Corporation, Philippine International Dev., Inc. (Phidco, Inc.), and other |
| Key Drivers | • Rising demand for biodegradable products • Increasing demand for oleochemicals from various end-use industry |
| Market Opportunities | • Stringent regulation imposed by the government on using petroleum-based products |
The expected market size of the Oleochemicals Market is USD 41.09 billion in 2031.
The expected CAGR of the global Oleochemicals Market during the forecast period is 6.8%.
The major key players are Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Kao Chemicals Global, Ecogreen Oleochemicals, Corbion, Cargill, Incorporated, Oleon NV, Godrej Industries, IOI Corporation Berhad, KLK OLEO, Evyap Sabun Yag Gliserin San ve Tic A.S., JNJ Oleochemicals, Incorporated, Sakamoto Yakuhin kogyo Co., Ltd., Stephan Company, Pepmaco Manufacturing Corporation, Philippine International Dev., Inc. (Phidco, Inc.)
Asia-Pacific contributes major to the Oleochemicals Market.
Voltaic Organic Compound generation during pre-treatment of glycerin is the key restraining factor of Oleochemicals Market globally.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Oleochemicals Market Segmentation, By Product
8.1 Specialty Esters
8.2 Fatty Acid Methyl Esters
8.3 Glycerol Esters
8.4 Alkoxylates
8.5 Fatty Amines
8.6 Others
9. Oleochemicals Market Segmentation, By Application
9.1 Personal Care & Cosmetic
9.2 Consumer Goods
9.3 Food Processing
9.4 Textiles
9.5 Paints & Inks
9.6 Industrial
9.7 Healthcare & Pharmaceuticals
9.8 Polymer & Plastic Additives
9.9 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Oleochemicals Market by Country
10.2.2North America Oleochemicals Market by Product
10.2.3 North America Oleochemicals Market by Application
10.2.4 USA
10.2.4.1 USA Oleochemicals Market by Product
10.2.4.2 USA Oleochemicals Market by Application
10.2.5 Canada
10.2.5.1 Canada Oleochemicals Market by Product
10.2.5.2 Canada Oleochemicals Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Oleochemicals Market by Product
10.2.6.2 Mexico Oleochemicals Market by Application
10.3 Europe
10.3.1 Europe Oleochemicals Market by Country
1.3.3.2 Europe Oleochemicals Market by Product
10.3.3 Europe Oleochemicals Market by Application
10.3.4Germany
10.3.4.1 Germany Oleochemicals Market by Product
10.3.4.2 Germany Oleochemicals Market by Application
10.3.5 UK
10.3.5.1 UK Oleochemicals Market by Product
10.3.5.2 UK Oleochemicals Market by Application
10.3.6 France
10.3.6.1 France Oleochemicals Market by Product
10.3.6.2 France Oleochemicals Market by Application
10.3.7 Italy
10.3.7.1 Italy Oleochemicals Market by Product
10.3.7.2 Italy Oleochemicals Market by Application
10.3.8 Spain
10.3.8.1 Spain Oleochemicals Market by Product
10.3.8.2 Spain Oleochemicals Market by Application
10.3.9 The Netherlands
10.3.9.1 Netherlands Oleochemicals Market by Product
10.3.9.2 Netherlands Oleochemicals Market by Application
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Oleochemicals Market by Product
10.3.10.2 Rest of Europe Oleochemicals Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Oleochemicals Market by Country
10.4.2Asia Pacific Oleochemicals Market by Product
10.4.3 Asia Pacific Oleochemicals Market by Application
10.4.4 Japan
10.4.4.1 Japan Oleochemicals Market by Product
10.4.4.2Japan Oleochemicals Market by Application
10.4.5. South Korea
10.4.5.1 South Korea Oleochemicals Market by Product
10.4.5.2. South Korea Oleochemicals Market by Application
10.4.6 China
10.4.6.1 China Oleochemicals Market by Product
10.4.6.2. China Oleochemicals Market by Application
10.4.7 India
10.4.7.1 India Oleochemicals Market by Product
10.4.7.2. India Oleochemicals Market by Application
10.4.8 Australia
10.4.8.1 Australia Oleochemicals Market by Product
10.4.8.2. Australia Oleochemicals Market by Application
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Oleochemicals Market by Product
10.4.9.2. APAC Oleochemicals Market by Application
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Oleochemicals Market by Country
10.5.2 The Middle East & Africa Oleochemicals Market by Product
10.5.3The Middle East & Africa Oleochemicals Market by Application
10.5.4 Israel
10.5.7.1 Israel Oleochemicals Market by Product
10.5.7.2 Israel Oleochemicals Market by Application
10.5.5 UAE
10.5.5.1 UAE Oleochemicals Market by Product
10.5.5.2 UAE Oleochemicals Market by Application
10.5.6South Africa
10.5.6.1 South Africa Oleochemicals Market by Product
10.5.6.2 South Africa Oleochemicals Market by Application
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Oleochemicals Market by Product
10.5.7.2 Rest of Middle East & Asia Oleochemicals Market by Application
10.6 Latin America
13.6.1 Latin America Oleochemicals Market by Country
10.6.2. Latin America Oleochemicals Market by Product
10.6.3 Latin America Oleochemicals Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Oleochemicals Market by Product
10.6.4.2 Brazil Oleochemicals Market by Application
10.6.5Argentina
10.6.5.1 Argentina Oleochemicals Market by Product
10.6.5.2 Argentina Oleochemicals Market by Application
10.6.6Rest of Latin America
10.6.6.1 Rest of Latin America Oleochemicals Market by Product
10.6.6.2 Rest of Latin America Oleochemicals Market by Application
11 Company Profile
11.1 Vantage Specialty Chemicals, Inc
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Emery Oleochemicals
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Evonik Industries AG
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Wilmar International Ltd
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Kao Chemicals Global
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Ecogreen Oleochemicals
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Corbion
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Cargill
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Incorporated
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Oleon NV
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Godrej Industries
11.11.1 Market Overview
11.11.2 Financials
11.11.3 Product/Services/Offerings
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 IOI Corporation Berhad
11.12.1 Market Overview
11.12.2 Financials
11.12.3 Product/Services/Offerings
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 KLK OLEO
11.13.1 Market Overview
11.13.2 Financials
11.13.3 Product/Services/Offerings
11.13.4 SWOT Analysis
11.13.5 The SNS View
11.14 JNJ Oleochemicals, Inc.
11.14.1 Market Overview
11.14.2 Financials
11.14.3 Product/Services/Offerings
11.14.4 SWOT Analysis
11.14.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. USE Cases And Best Practices
14. Conclusion
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