The Global Oleochemicals Market was valued at USD 25.93 billion in 2019 and it is expected to grow at CAGR 4.3% by 2030
Oleochemicals are originated from plant and animal fats. Natural raw materials such as castor oil, soybean oil, vegetables are the various sources of oleochemicals. Oleochemicals are the substitute of petrochemical products. Rise in environment concerns are the prominent factor for adoption of oleochemicals which is expected to grow the global oleochemicals market growth over this forecast period. Oleochemicals are widely applied in various sectors as pharmaceuticals, food &beverages, soap & detergent, polymers, personal care, cosmetic, and others.
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Top Key Players:
· Emery Oleochemicals, Evyap Oleo, Cargill Inc, Solvay, BASF, Godrej Industries, Twin River Technologies, Chemical Associates Inc, Croda International, Musim Mas Group, IOI Group, Procter & Gamble Co, Du Pont, Oleon NV, KLK Oleo and Wilmar International.
Top Regional scope:
· NorthAmerica
· Asia Pacific
· Europe
· Latin America
· Middle East
By Drivers, Global Oleochemicals Market:
· Rise in commercialization of bio-based products or oleochemicals will anticipate the product demand in over the forecast period. It is expected boost the global oleochemicals market growth. Oleochemicals are extensively available and cost effective due to these ecological advantages will have the positive impact on global oleochemicals market growth. Furthermore, depletion of world fossil fuels and resources is the major issue, which leads implementation of stringent policies and regulations and high demand of oleochemicals across the world is expected to propel the global oleochemicals market growth. Moreover, increase in demand for oleochemicals in personal care products, cosmetics, and food industries is expected to drive the global oleochemical market growth.
By Restraints, Global Oleochemicals Market:
· However, high prices of biofuel owing to government regulations and rules are the major restraining factors for market which are expected to hinder the global oleochemicals market growth.
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By Types:
- Fatty Acids
- Fatty Alcohol
- Glycerin
- Others
By Application:
- Pharmaceuticals
- Food & Beverages
- Soaps & Detergents Polymers Personal Care Others
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