Global Oleochemicals Market Reflecting a CAGR of 5.5% by 2020 End
Zion Market Research has published a new report titled “Oleochemicals (Fatty Acid, Fatty Alcohol, Glycerin and Others) Market for Polymers, Food and Beverages, Pharmaceutical & Personal Care, Soaps & Detergents and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for oleochemicals market was valued at USD 21.25 billion in 2014, is expected to reach USD 29.50 billion by 2020, growing at a CAGR of slightly above 5.5% between 2015 and 2020.
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Oleochemicals are chemicals derived from naturally occurring feedstock material such as plant, vegetable oil and animal fats. Mostly, oleochemicals refer to the fatty acids and glycerol derived from the splitting of the triglyceride structures of oils and fats. Fatty acids, fatty alcohols and glycerin are some of the major types of oleochemicals. Oleochemicals are used in wide ranging applications in a number of industries including pharmaceutical, personal care products, food & beverages, soaps & detergents and polymers. Oleochemicals are also used in lubricants and greases, textile, rubber, drying oil, paints & coating, surface coatings, biodiesel, bioplastics, and others industries.
The oleochemicals market is mainly driven by increasing demand for environment friendly products. Rising demand for green and sustainable chemicals is another key driver of the global oleochemicals market. Additionally, rising demand for bio-based products from a range of application industries such as soaps & detergents, pharmaceuticals, food and beverage and personal care is also driving the demand for market growth. However, feedstock cost and variable prices of raw materials in the industry is expected to major restraints for oleochemicals market.
Fatty acid, fatty alcohol, glycerin and others are the key product segments of the oleochemicals market. Fatty acid was the largest product segment in 2014 and it accounted for over 54% share of the total market. Rapidly increasing demand for glycerin in food & beverage industry is expected to drive the demand for oleochemicals market through forecast period. Hence, the market for glycerin is expected to grow at the fastest rate.
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Key application segments of the global oleochemicals include polymers, pharmaceuticals and personal care, food and beverages, soaps and detergents, and other applications. In 2014, the personal care, and soap & detergents segment dominated the global oleochemicals market. Food and beverages application is the fastest growing segment in oleochemicals market over the forecast period. Pharmaceutical is also the largest application segment for oleochemicals market.
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Geographically, Asia Pacific was the leading regional market for oleochemicals and accounted for over 65% share of the oleochemicals market in 2014. Asia Pacific was followed by Europe with the second largest market share in global oleochemicals in 2014. Asia pacific is the fastest growing market in the global oleochemicals such as glycerin, fatty acids, and fatty alcohols. North America is expected to grow at sluggish rate as compared to Asia pacific and Europe.
Some of the key participants in the global oleochemicals market Genomatica, Myriant, Amyris, Solazyme, Goldschmidt, Wilmar international, Kao chemicals, Oleon, BASF, Emery oleochemicals and SABIC.
Global Oleochemicals Market: Product Segment Analysis
- Fatty Acid
- Fatty Alcohol
Global Oleochemicals Market: Application Segment Analysis
- Pharmaceutical & personal care
- Food & Beverages
- Soaps & Detergents
Global Oleochemicals Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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