HYDERABAD, India and MINNEAPOLIS, June 23, 2016 /PRNewswire/ --
According to the report "Oleochemicals Market Analysis: By Type (Fatty Acids, Fatty Alcohols, Glycerine, Methyl Esters, Fatty Amines and Others); By Application (Pharmaceuticals, Personal Care, Food & Beverages, Soaps & Detergents, Intermediates and Others) - Forecast (2016 - 2021)", published by IndustryARC, the market is estimated to reach $31.7 Billion by 2021 at high CAGR.
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Browse - 33 Market Tables, 52 Figures spread through 150 slides and an in-depth TOC on "Oleochemicals Market"
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Oleochemicals are chemicals that are derived from plants and animal fats and are analogous to petrochemicals, which are derived from petroleum. Escalating demand for bio-based products and growing need for sustainable solutions along with changes in regulatory framework has increased the influence of oleochemicals in different segments of the chemical industry. Plant, animal and vegetable oils are processed to derive naturally occurring feedstocks called Oleochemicals. The most common oleochemicals available in the market are fatty acids and glycerol which can be further processed to form intermediates. The global market size is estimated to reach $31.7 billion by 2021 at a CAGR of around 4.9% during the forecast period of 2016 and 2021 according to a recent study conducted by IndustryARC.
The Oleochemicals Market is mainly driven by rising demand for green and sustainable chemicals. Mounting demand for bio-based products from a disparate set of industries such as soaps & detergents, pharmaceuticals, food and beverage and personal care is driving the demand for basic oleochemicals.
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Rising need for bio-degradable products and balanced solutions combined with changes in regulations of contemporary times are amassing the influence of oleochemicals in various segments of chemical industry. Fatty acids, fatty alcohols and Glycerine together accounted for a share of 78% during 2015. Fatty acids are the most demanded oleochemicals mainly due to their inevitable usage in making derivatives which eventually are processed into end products. Among all the applications, soaps and detergents accounted for a share of 30% and are anticipated to grow with a CAGR of 5% during the forecast period. Food and Beverage industry is estimated to achieve the highest CAGR among all the applications, mainly attributed to the vast nature of the industry. Additives for plastics, rubber and textiles coupled with manufacturing of intermediates held approximately 28% of the total application of oleochemicals in 2015. Bio-lubricants are the one of the major areas of new applications for oleochemicals market.
The Global Market for oleochemicals is dominated by APAC, which is poised to exhibit the fastest growth due to growing markets and product portfolio expansion to cater for disparate needs across countries. Demand for fatty alcohols is growing in the Asian region because of a wide range of applications such as use in shampoo and detergent for consumer use. China is the largest oleochemicals market with a share of 12% currently and has overtaken the U.S as the world's leading market of oleochemicals. The Oleochemicals market in the North American Region is however anticipated to grow at a CAGR of 3.4% during the forecast period 2016 to 2021.
The number of manufacturers across the world for Oleochemicals has increased manifold. These manufacturers are actively investing in scaling up their position in the market and are able to attract profitable deals.
Some of the Major Players are:
The Overall Oleochemicals Market is characterized by large number of companies but top three companies account for 54% market share due to the wide distribution network and brand reputation. Rapid developments in emerging countries and use of innovative products and materials in manufacturing oleochemicals have supported the growth of markets.
The Oleochemicals market report is a comprehensive study of the market for different types, applications and geography.
The Market has been analyzed by the following Types:
The Oleochemicals Market has been analyzed by the following End User Areas:
The market has also been analyzed for four geographic regions, which include North America, APAC, Europe and Rest of the World.
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