The global oleochemicals market size is projected to reach USD 31.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.2% over the forecast period. It projected to witness a shift from petrochemicals to bio-based chemicals due to increasing concerns regarding the adverse effects of petrochemicals on the environment.
Growing oleochemical manufacturing capacity in (ASEAN), coupled with its robust raw material integration, is the most fundamental explanation behind the extraordinary reorganization taking place in the global oleochemicals. Increased pressure on margins from large-scale and highly productive manufacturing units in ASEAN will keep on influencing the global picture.
Fatty acids were the most consumed oleochemicals globally. The product segment enjoys the maximum share in the overall market on account of its gaining popularity in soaps and detergents industry. However, in relation to other oleochemicals such as glycerol and fatty alcohol, fatty acids are considered to be a mature segment and are expected to grow at a relatively lower rates, as compared to other counterparts.
Asia Pacific was the foremost consumer and is projected to observe the fastest growth over the next few years. This growth can be attributed to the ample supply of vegetable oil and rapidly expanding application segments including personal care, food and beverage, and bio-chemical manufacturing. Europe is projected to exhibit a moderate growth over the years to come. Increasing demand for biodiesel and bioenergy is expected to have a positive impact on this region.
Grand View Research has segmented the global oleochemicals market on the basis of product and region:
Oleochemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Soap & Detergents
Lubricant & Greases
Soaps & Detergents
Personal Care & Pharmaceuticals
Food & Beverages
Oleochemicals Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Asia Pacific (APAC)
Middle East & Africa (MEA)
Central & South America (CSA)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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