Oleochemicals Market - Trends Forecast Till 2028

Market Overview

The global oleochemicals market size was valued at USD 19.46 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.57% from 2021 to 2028.

Oleochemicals are a bunch of a range of fatty acid-containing compounds used for manufacturing paints, surfactants, detergents, soaps, lubricants, varnishes, pharmaceutical aids, and copolymers. The market is majorly driven by government regulations regarding the use of environmentally friendly products and the rising usage of oleochemicals in the cosmetic & pharmaceutical industry.

Rising consumption of renewable, sustainable, and bio-based chemicals in personal care & cosmetics, food & beverages, pharmaceuticals, and other industries are some of the factors that have supported long-term expansion for Oleochemicals Market.

The COVID-19 pandemic positively impacted the oleochemicals market, due to the increase in demand for cleaning products, sanitizers, and disinfectants, for manufacturing of which oleochemicals are used. However, due to travel restrictions, the supply chains were disrupted.

Regional Analysis

Asia Pacific accounted for the largest revenue share of over 40% in 2020 due to the increased demand for sustainable plastics in various end-user industries, which, in turn, has driven the demand for raw materials, such as fatty acids and other bio-based polymers.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Cargill, Inc.
• SABIC
• Kuala Lumpur Kepong Berhad
• BASF SE
• Oleon N.V.
• IOI Group Berhad
• Wilmar International

Recent Developments

• In December 2017, HALCOR METAL WORKS S.A entered into a merger agreement with ELVAL HELLENIC ALUMINIUM INDUSTRY S.A., in order to combine their companies into one operating entity, under the name ELVALHALCOR. The merger's purpose is to synergize and strengthen both their growth prospects in the aluminum market of Europe. This development will enhance the line set market share of Halcor in the European region.
• In February 2019, Daikin completed the acquisition of AHT Group (Austria), a leading company in the commercial refrigeration market in Europe. The acquisition will help Daikin in adding a range of products, services, and solutions based on its air conditioning and refrigeration equipment.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Oleochemicals Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope