Global Specialty Oleochemicals Market, By Type (Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines, Others), Application (Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles, Paints & Inks, Healthcare & Pharmaceuticals, Polymer & Plastic Additives, Others) – Industry Trends and Forecast to 2029.
Specialty Oleochemicals Market Analysis and Size
The market growth can be recognised by increasing demand from several production industries such as pharmaceuticals, food processing, personal care, cosmetics, and among others. Personal care and cosmetics are expected to show high growth due to their increased global demand, especially in developing economies. Furthermore, the major market players are focusing on easy access to raw materials and meeting environmental regulations which is expected to augment the market growth in upcoming period.
Data Bridge Market Research analyses that the specialty oleochemicals market was valued at USD 8.88 billion in 2021 and is expected to reach USD 14.31 billion by 2029, registering a CAGR of 6.15% during the forecast period of 2022 to 2029. 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 in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Specialty Oleochemicals Market Scope and 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 Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines, Others), Application (Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles, Paints & Inks, Healthcare & Pharmaceuticals, Polymer & Plastic Additives, Others)
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Countries Covered
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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
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Market Players Covered
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Evonik Industries AG (Germany), Vantage (U.S.), Emery Oleochemicals (U.S.), Wilmar International Ltd (Singapore), Kao Corporation (Japan), PT. Ecogreen Oleochemicals (Singapore), Corbion (Netherland), Oleon NV (Belgium), Godrej Industries Limited (India), IOI Corporation Berhad (Malaysia), KLK OLEO. (Malaysia), H.I.G. Capital, LLC, (U.S.), VVF Group (India)
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Market Opportunities
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Market Definition
Specialty oleochemicals are formed by plant-based feedstock such as soybean oil, rapeseed oil, palm oil, and sunflower oil. These oleochemicals are used as natural materials in several applications such as biodegradable polymers, bio-surfactants, cosmetics and lubricants. These products contain special properties such as surface activity with beneficial biological properties and emulsifying properties.
Global Specialty Oleochemicals Market Dynamics
Drivers
- Growing demand of specialty oleochemicals in multiple applications
The specialty oleochemicals are used in multiple application and purposes. These chemicals are used in the form of fatty acids for the production of surfactants, lubricants, varnishes, soaps and detergents, and pharmaceuticals which is expected to increase the demand for specialty oleochemicals and drive the growth rate of the market.
- High usage of specialty oleochemicals in personal care & cosmetics products
The specialty oleochemicals is widely used in personal care & cosmetics because it reduces the use of harmful chemicals such as parabens, aluminum salts and phthalates, along with adopting sustainable raw material. This has contributed to high consumption of specialty oleochemicals in the production of personal care and cosmetics which are anticipated to boost the growth of the specialty oleochemicals market.
Furthermore, increasing concerns about plastic and polymers biodegradability are shifting the attention of manufacturer towards the growth of bio-based substitutes which will aid impact the market growth during the forecast period. The growing demand for anti-aging and organic products and rising number of consumers spending on personal care and cosmetic products and easy availability of raw materials are also anticipated to increase the growth of the market.
Opportunities
- Increasing focus on environment friendly products
The specialty oleochemical industry is currently focusing on renewable feedstocks to manufacture oleochemicals products because these products have low toxicity, high biodegradability and less environmental impact. Specialty oleochemicals are derived from plant oils and used to manufacture lubricants, cosmetics, and other chemical products. The growing demand for oleochemical production by renewable feedstocks will generate lucrative opportunities for the market growth rate.
- Technological advancement
The research and development team has facilitated the development of products with optimum and advanced features in the specialty oleochemicals market. This is one of the major factors that drives and father boost beneficial opportunities for the growth of this market.
Restraints/ Challenges
- High cost associated with market
The manufacturing process involves high amount of expenditure which is expected to hamper the growth of the specialty oleochemicals market. There is a high cost of ownership with the availability of the other alternatives in the market. These are some of the major factors which are restraining the growth of the specialty oleochemicals market during the above mentioned forecast period.
This specialty oleochemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the specialty oleochemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Specialty Oleochemicals Market
The COVID-19 outbreak has adversely affected the specialty oleochemicals industry. As a result of this pandemic, the government has implemented stringent global rules, which has severely affected the growth of the specialty oleochemicals market. The specialty oleochemicals industry plays an vital role in the production of large number of products such as pharmaceuticals, personal care & cosmetics, food & beverages, soap & detergents, polymers and so on. The demand for specialty oleochemicals increased from the soap & detergents industry during the pandemic. Thus, the ongoing spread of COVID-19 overall the globe is expected to impact the demand of specialty oleochemicals market.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In August 2021, Indorama Corporation, based in Singapore publicly stated that they will buy Oxiteno (Brazil) which is the chemical corporation of Brazilian petroleum firm Ultrapar Participacoes SA associated to adaptation and ending with a delayed amount in 2024.
- In August 2021, Mega First Corporation, based in Malaysia acquired Emery Oleochemicals' Asia Pacific unit. Edenor Technology Sdn Bhd a partnership which formed by Mega First Corp Bhd and 9M Technologies Sdn Bhd will carry out the acquisition.
Global Specialty Oleochemicals Market Scope
The specialty oleochemicals market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Specialty Esters
- Fatty Acid Methyl Ester
- Glycerol Esters
- Alkoxylates
- Fatty Amines
- Others
Application
- Personal Care & Cosmetics
- Consumer Goods
- Food Processing
- Textiles
- Paints & Inks
- Healthcare & Pharmaceuticals
- Polymer & Plastic Additives
- Others
Specialty Oleochemicals Market Regional Analysis/Insights
The specialty oleochemicals market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the specialty oleochemicals 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.
Asia-Pacific dominates the specialty oleochemicals market in terms of revenue and market share. This is due to the presence of a large number of manufacturers in the Malaysia and Indonesia.
North America is expected to be the fastest developing region during the forecast period of 2022-2029 due to the increasing demand from numerous end-use industries and strict government regulations in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Specialty Oleochemicals Market Share Analysis
The specialty oleochemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to specialty oleochemicals market.
Some of the major players operating in the specialty oleochemicals market are:
- Evonik Industries AG (Germany)
- Vantage (U.S.)
- Emery Oleochemicals (U.S.)
- Wilmar International Ltd (Singapore)
- Kao Corporation (Japan)
- PT. Ecogreen Oleochemicals (Singapore)
- Corbion (Netherland)
- Oleon NV (Belgium)
- Godrej Industries Limited (India)
- IOI Corporation Berhad (Malaysia)
- KLK OLEO. (Malaysia)
- H.I.G. Capital, LLC, (U.S.)
- VVF Group (India)
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