Global Oleochemicals Market Size, Analysis - Industry Report

22/07/2019

Oleochemicals Market are the best substitute for various petroleum based products

As the focus shifts from conventional petrochemical based products to more environment friendly bio based products, the important of products like oleochemicals is continuously increasing. The primary use of oleochemicals is improvement in the overall recyclability of the end product. As the raw materials used for manufacturing oleochemicals are renewable and are available in abundance, it supports the manufacturing and promotion of oleochemicals largely.

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Growing stringent environmental regulations regarding the conventional petroleum based products are making consumers shift their focus to oleochemicals for their pharmaceutical & personal care, and soaps & detergents demand. This trend is leading to growing demand for oleochemicals in countries, such as China, Japan, India, U.S., and Germany, which is contributing towards the growth of global oleochemicals market.

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Fatty acids held a dominating share among all other types of oleochemicals and accounted for 56.33% of the market share in 2013

Fatty acids held the major share in the oleochemicals market by type in 2013 and the trend is projected to continue by 2019. Fatty alcohols held the second biggest market by type for the oleochemicals in 2013. The market for glycerin is projected to grow at a high rate of 5.31% between 2014 and 2019 owing to the constantly increasing application areas for the product.Oleochemicals are increasingly being used in the manufacturing of soaps & detergents, pharmaceutical & personal care products, and polymers. The soaps & detergents application is projected to grow at the highest CAGR between 2014 and 2019. The Asia-Pacific, region is mainly making this application extremely attractive for the market players.