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Report Overview
The global oleochemicals market attained a value of USD 26.30 Billion in 2023. The market is forecast to grow at a compound annual growth rate (CAGR) of 5.80% from 2024 to 2032, potentially reaching USD 43.68 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The easy availability of raw materials, especially in regions like Malaysia, Indonesia, China, as well as Thailand, is likely to drive the industry growth further.
- Palm kernel oil and coconut oil are the leading feedstock because they have a wide mix of all the fatty acids.
- The UK is currently dependent on the European Union for feedstock, which leads to an increase in imports, aiding the market growth.
Oleochemicals Market Analysis
Oleochemicals are plant-and animal-derived chemicals. Various chemical and enzymatic reactions are involved in the development of basic oleochemical products such as fatty acids, fatty acid methyl esters, fatty alcohols, fatty amines, and glyceroles. These oleochemicals have special properties such as excellent emollience, surface activity, emulsifying characteristics, and other beneficial biological characteristics.
The oleochemicals market expansion is due to the increased demand for personal care products. The industry is significantly driven by the expanding food and beverage sector and the growing pharmaceutical industry. The increasing biodiesel demand is also an essential factor in driving the market growth. The trade volume of oleochemicals has been rising ever since 2017 after witnessing an economic slowdown between 2011 and 2016. The trans-pacific partnership is expected to open better trade opportunities for Asia, thus, supporting the market growth.
Oleochemicals Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 26.30 Billion.
The oleochemicals market is assessed to grow at a CAGR of 5.80% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 43.68 Billion by 2032.
The major market drivers include increasing population, rise in industrialisation, and the expanding food and beverage sector.
The key trends are rising demand for personal care products and growing pharmaceuticals industry.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for the largest share in the market.
Fatty acid, fatty alcohol, glycerine, and ester, among others, are the different types of oleochemicals in the market.
The applications of oleochemicals include soap and detergent, intermediate plastic, coating and resin, lubricants and grease, paper, rubber, and personal care, among others.
The major players in the market include BASF SE, Wilmar International Ltd, Kuala Lumpur Kepong Berhad, IOI Corporation Berhad, Kao Corporation, and Ecogreen Oleochemicals Pte. Ltd, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124