The oleo chemicals market is experiencing significant growth due to its natural sourcing from plant and animal fats, making it an environmentally friendly alternative to conventional chemicals. The production of basic oleo chemicals, such as fatty acids, involves chemical and enzymatic reactions. Oleo chemicals are biodegradable and exhibit low toxicity, making them a preferred choice in various applications. The market's expansion is driven by the growing demand for sustainable and eco-friendly products in industries such as personal care, food and beverages, and pharmaceuticals.
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Data Bridge Market Research analyses that the Global Oleo Chemicals Market was valued at USD 21.43 million by 2021 and expected to reach USD 33.40 million in 2029, with a CAGR of around 5.70% during the forecast period of 2022 to 2029. Technological advancements in oleo chemical production enhance product quality and open up new applications, boosting the demand for these environmentally friendly and versatile substances, thus driving market growth
Key Findings of the Study
The presence of abundant and renewable feedstock is expected to drive the market's growth rate
The presence of abundant and renewable feedstock, such as plant and animal fats, ensures a stable and continuous supply of raw materials for the production of oleo chemicals. This reliability in feedstock availability not only supports consistent production but also contributes to the overall sustainability and eco-friendliness of oleo chemicals. As industries increasingly prioritize environmentally-friendly alternatives, the use of renewable feedstock in oleo chemical production becomes a significant driver in the market's growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Fatty Acid, Fatty Alcohol, Methyl Ester, Glycerol, Others), Form (Liquid, Solid), Method (Hydrolysis, Transesterification, Hydrogenation, Fractionation), feedstock (Palm, Soy, Rapeseed, Sunflower, Tallow, Palm Kernel, Coconut, Others), Application (Pharmaceutical and Personal Care, Food and Beverages, Soaps and Detergents, Polymers, Others), Sales Channel (Direct, Indirect),
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Countries Covered
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Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa)
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Market Players Covered
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Cargill, Incorporated (U.S.), SABIC (Saudi Arabia), Vantage Specialty Chemicals (U.S.), Kuala Lumpur Kepong Berhad (Malaysia), Emery Oleochemicals (Malaysia), Kao Corporation (Japan), Evonik Industries (Germany), Nouryon (Netherlands)IOI Corporation Berhad (Malaysia) Wilmar International Ltd (Singapore), Godrej Industries Ltd (India), Oleon NV (Belgium), Chemrez (Philippines), BASF SE (Germany), AkzoNobel (Netherlands), TerraVia (U.S.), Emery Oleochemicals (Malaysia)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The oleo chemicals market is segmented on the basis of type, form, method, feedstock, application, and sales channel.
- On the basis of type, the oleo chemicals market is segmented into fatty acid, fatty alcohol, methyl ester, glycerol, and others.
- On the basis of form, the oleo chemicals market is segmented into liquid and solid.
- On the basis of method, the oleo chemicals market is segmented into hydrolysis, transesterification, hydrogenation, and fractionation.
- On the basis of feedstock, the oleo chemicals market is segmented into palm, soy, rapeseed, sunflower, tallow, palm kernel, coconut, and others.
- On the basis of application, the oleo chemicals market is segmented into pharmaceutical and personal care, food and beverages, soaps and detergents, polymers, and others.
- On the basis of sales channel, the oleo chemicals market is segmented into direct and indirect.
Major Players
Data Bridge Market Research recognizes the following companies as the major global oleo chemicals market players in global oleo chemicals market Cargill, Incorporated (U.S.), SABIC (Saudi Arabia), Vantage Specialty Chemicals (U.S.), Kuala Lumpur Kepong Berhad (Malaysia), Emery Oleochemicals (Malaysia), Kao Corporation (Japan), Evonik Industries (Germany), Nouryon (Netherlands)
Market Developments
- In August 2022, Kuala Lumpur Kepong Berhad Group introduced DavosLife E3, a product with clinically proven health benefits for heart, liver, and brain health, suitable for food and nutrition applications.
- In July 2022, BASF SE offered rainforest alliance-certified personal care ingredients based on coconut oil, establishing a renewable supply chain to maximize revenue.
- In April 2022 - Oleon N.V. initiated the construction of a new plant in Baytown, Texas, with a USD 50 million investment, aimed at international expansion.
- In September 2020 - Emery Oleochemicals launched Emery E, a fatty acid ester product line known for good color stability, biodegradability, and low odor.
- In May 2019 - PT Apical Kao Chemicals, a joint venture of Kao Corporation and Apical Group Ltd., completed its new plant, increasing oleochemical production capacity and ensuring a stable supply.
Regional Analysis
Geographically, the countries covered in the global oleo chemicals market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global oleo chemicals market during the forecast period 2022 - 2029
Asia-Pacific holds a dominant position in the oleo chemicals market due to several key factors. The region benefits from easy accessibility to abundant feedstock, particularly palm oil and coconut oil, which are essential raw materials for oleo chemical production. Additionally, Asia-Pacific has a well-established and diverse raw material base, providing a competitive advantage to the region. Moreover, the swift expansion of major end-use industries such as personal care, soaps and detergents, and food and beverages further drives the demand for oleo chemicals in the region.
North America is estimated to be the fastest growing region in the global oleo chemicals market for the forecast period 2022 - 2029
North America is poised to experience lucrative growth in the oleo chemicals market within the forecast period. Recent developments and modernization in Oleo chemical manufacturing plants are contributing to increased production capacity and improved product quality in the region. Additionally, rising consumer awareness of the environmental benefits and sustainability aspects of oleo chemicals is boosting their adoption in various applications, further fueling market growth in North America. The region's focus on innovative applications and growing demand for green and bio-based products also play a vital role in driving the oleo chemicals market's growth in North America.
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