About Oleochemicals Market: The Global Oleochemicals Market is set to witness significant growth during the forecast period of 2017 to 2023 according to the latest research report by Market Research Future. These naturally obtained chemicals are analogous to petroleum-derived chemicals and oils and have a wide range of applications as raw materials in the development of personal care products such as soaps and detergents.
The increasing demand for soaps and shampoos and the diversification of these items has played an important role in driving growth for the global oleochemicals market. Glycerin, a derivative of oleochemicals is used commonly for its sweetness and humectant properties, while other derivatives are used as food additives for regulation of flavor and texture. Use of oleochemicals as a raw material to derive various useful materials in the formulation of various products has been vital in the expansion of the market.
Latest Industry News:
a. Inventure Renewables has successfully implemented its Mixed Super Critical Fluid technology at a Wilmar International processing plant in China where the technology is being used to produce fatty acid methyl esters for oleochemicals.
b. Volkswagen's I.D.R electric racecar has tackled a challenging track while using glycerol as biodiesel to fuel the car.
Market Segmentation: The Global Oleochemicals Market is segmented on the basis of application, type, and region. On the basis of type, the market is bifurcated into fatty acids, fatty alcohols, methyl ester, and glycerol. On the basis of application, the Oleochemicals market is categorized into soaps & detergents, intermediates, plastics, coatings, lubricants, rubber, personal care. On the basis of region, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Competitors Across World: Some of the prominent players operating in the Global Oleochemicals Market are BASF SE (Germany), Wilmar International Ltd. (Singapore), Procter & Gamble (U.S.), Eastman Chemical Company (U.S.), Cargill, Incorporated (U.S.), Evonik Industries AG (Germany), Godrej Industries Limited (India), PTT Global Chemical Public Company Limited (Thailand), Arizona Chemical Company, LLC (U.S.), and Emery Oleochemicals (U.S.) among others.
Regional Analysis: The Global Oleochemicals Market consists of five regions across the world: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North American Oleochemicals Market is anticipated to observe a huge increase owing to high consumption potential, rising production capacities, and increasing human development index (HDI). In Europe, the need for Oleochemicals is anticipated to increase in many countries such as Italy, Germany, Spain, U.K, France, and Russia due to increasing spending in oleo chemicals research & development and growing purchasing power of consumers. Moreover, presence of major automobile production capacities specifically in Germany is anticipated to give a new opportunity to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also anticipated to observe steady growth on account of increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in Oleochemicals manufacturing technology. Asia Pacific Oleochemicals is anticipated to increase with the high CAGR due to rising incorporation into end use industries such as food & beverages and soaps & detergents.
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