Oleochemicals Market to be Dominated by Personal Care and Cosmetics Segment Through 2028
Oleochemicals Market is
increasing owing to the demand for sustainable products.
According to TechSci Research
report, “Oleochemicals Market - Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028,", the
global Oleochemicals market is anticipated to increase at an impressive rate during
the forecast period, 2024-2028. Global Oleochemicals market is expected to grow
impressively through 2028 owing to the increasing demand from personal care and
cosmetics product. The oleochemicals market is expected to
witness significant growth during the forecast period, driven by various
factors such as increasing demand for bio-based products, rising awareness
regarding the harmful effects of synthetic chemicals, and favorable government
regulations.
The soaps and detergents
industry is another major consumer of oleochemicals. Oleochemicals are used as
raw materials in the production of soaps and detergents, providing better
foaming, cleansing, and conditioning properties compared to synthetic
chemicals. With the growing demand for soaps and detergents, especially in developing
countries, the demand for oleochemicals is also expected to increase.
The oleochemicals market is
facing various challenges such as fluctuations in raw material prices,
competition from other chemicals, limited availability of raw materials, environmental
concerns, and lack of awareness and understanding. Oleochemicals manufacturers
must find innovative solutions to overcome these challenges and continue to
drive growth in the market.
The oleochemicals market has
witnessed several technological advancements in the last three years. This
includes the development of new processing technologies, such as enzymatic and
microbial processes, which offer higher yields and lower costs compared to
traditional processing methods. Additionally, there have been advancements in
the development of oleochemical-based products, such as bio-based lubricants,
bio-based plastics, and bio-based surfactants.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Oleochemicals Market"
Oleochemicals have a wide
range of applications across industries such as personal care, food,
pharmaceuticals, lubricants, plastics, and textiles. They are used as
emollients, emulsifiers, surfactants, solvents, plasticizers, and additives,
among others. The versatility and functional properties of oleochemicals make
them highly sought-after ingredients, driving their market growth.
Governments worldwide are
implementing regulations and policies that promote the use of bio-based and
renewable chemicals. These regulations focus on reducing carbon emissions,
promoting sustainability, and encouraging the use of renewable resources.
Oleochemicals, being derived from renewable feedstocks, align with these
regulations and benefit from supportive policies, driving their market growth.
The increasing population and
economic growth in developing countries have led to rising consumer demand for
various products, including those that incorporate oleochemicals. As these
countries industrialize and urbanize, there is an increased need for
oleochemicals in sectors such as personal care, soaps and detergents, food
processing, and textiles. The growing middle class and changing lifestyles
contribute to the growth of the oleochemicals market in these regions.
The Oleochemicals market is
expected to witness significant growth in the coming years, driven by various
factors such as increasing demand for bio-based products, favorable government
regulations, and growing demand for personal care and cosmetics, soaps and detergents,
and other industries. Moreover, technological advancements are expected to
further expand the scope of the oleochemicals market and provide new
opportunities for growth.
Global Oleochemicals Market
is segmented based on type and end user.
Based on resin type, the market is further divided into fatty
acids, fatty alcohols, fatty acid derivatives, and fatty acid methyl esters.
The fatty acids segment is expected to hold the largest market share during the
forecast period.
Based on end user, the market is further split into
personal care & cosmetics, rubber and plastics, soaps and detergents,
coatings and resins, and others. The increasing demand for personal care and
cosmetic products is the primary reason driving the segment's growth.
Major Companies Operating in Global
Oleochemicals Market are:
- BASF SE
- Oleon NV
- Evonik Industries AG
- Croda International plc
- Emery Oleochemicals
- Akzo Nobel N.V.,
- Archer-Daniels-Midland Company
- Cargill, Incorporated
- Sasol Limited
- P&G Chemicals
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“Oleochemicals market is
expected to continue its growth trajectory in the coming years. The growing
demand for sustainable products and the diverse range of applications for
oleochemicals are expected to drive the market's growth. Additionally, the
development of new technologies and the expansion of production capacity are
expected to further accelerate the growth of the market.
However, the oleochemicals
market also faces several challenges. The fluctuating prices of raw materials,
such as palm oil, can affect the profitability of the market. Additionally, the
environmental impact of the production of certain oleochemicals, such as palm
oil, has raised concerns among consumers and policymakers," said Mr. Karan
Chechi, Research Director with TechSci research, a research based global
management consulting firm.
“Oleochemicals
Market- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Type (Fatty Acids, Fatty Alcohols,
Fatty Acid Derivatives, Fatty Acid Methyl Esters), By End User (Personal Care
& Cosmetics, Rubber and Plastics, Soaps and Detergents, Coatings and
Resins, Others), By Company (2022), By
Region, Competition, Forecast and Opportunities, 2028 has evaluated the future growth
potential of Global Oleochemicals market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global Oleochemicals market.
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