Global Speciality Oleochemicals Market- WishTree Insight

Global Specialty Oleochemicals Market by Application (Consumers Goods, Personal Care & Cosmetics, Textiles, Healthcare & Pharmaceuticals, Food Processing, Additives, Paints & Inks), Product Type (Fatty Acid Methyl Esters, Fatty Amines, Specialty Esters, Alkoxylates, Glycerol Esters), and Regions, (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Specialty Oleochemicals market size was valued at USD 25.9 billion in 2022 and is expected to surpass USD 60.0 billion by 2032, expanding at a CAGR of 8.5 % during the forecast period, 2022–2032. The market's growth is attributed to the rising biopolymer demand.

INTRODUCTION

Oleochemicals are chemicals that are derived from natural vegetable oils and animal fats. They are used in a wide range of applications, including the manufacturing of soaps, detergents, lubricants, and biodiesel.

Specialty oleochemicals are high-value chemical compounds that are derived from natural oils and fats, such as palm oil, coconut oil, soybean oil, and others. Oleochemicals are used in a wide range of industries, including personal care, food, pharmaceuticals, plastics, and lubricants.

Examples of specialty oleochemicals include fatty acids, fatty alcohols, esters, glycerin, and surfactants. These compounds have unique properties and are often used in specific applications, such as emulsifiers in cosmetics, emollients in lotions and creams, and lubricants in industrial machinery.

The production of specialty oleochemicals typically involves the hydrolysis or transesterification of natural oils and fats to produce a mixture of fatty acids and glycerin. The fatty acids are then purified and processed to produce various types of specialty oleochemicals.

The use of specialty oleochemicals has gained popularity in recent years due to their renewable and sustainable nature. They offer an alternative to petroleum-based chemicals, which are often derived from non-renewable sources and can have a negative impact on the environment.

Specialty oleochemicals, on the other hand, are a subset of oleochemicals that are produced through more specialized processes and are used in specific applications. They are often higher value-added products that require more complex manufacturing processes, and they are typically produced in smaller quantities.

Market Trends, Drivers, Restraints, and Opportunities

• Growing awareness of the biodegradability of plastic & resins have increased the demand for bio-based substitute production.
• Rising customer expenditure on personal care & cosmetic products is driving the market.
• Consumer demand for biodegradable polymers, biosurfactants, and lubricants is expected to drive the global specialty oleochemicals market.
• Growing demand for specialty oleochemicals in health & pharmaceutical, Food manufacturing, paint, polymer, and other additive sectors is propelling the market growth.
• Government strict regulations and initiatives for environment-friendly goods are boosting the market.
• The high cost of production is a restraining factor in the growth of the market.
• The emphasis on environmentally beneficial goods is expected to create lucrative opportunities in the market.

Scope of the Report

Market Segment Insights

The personal care & cosmetic segment is projected to register a considerable CAGR

Based on application, the specialty oleochemicals market is divided into consumers goods, personal care & cosmetics, textiles, healthcare & pharmaceuticals, food processing, additives, paints & inks. The personal care & cosmetic segment is expected to expand rapidly during the forecast period owing to the rising demand for organic and antiaging products. However, the consumer goods segment is anticipated to hold a key share of the market in the coming years due to the changing inclination towards the use of less toxic and natural components in detergents, plastic products, and cleaners.

The specialty esters segment is expected to expand at a rapid pace

Based on product type, the specialty oleochemicals market is divided into fatty acid methyl esters, fatty amines, specialty esters, alkoxylates, and glycerol esters. The specialty esters segment is expected to expand rapidly during the forecast period owing to increasing demand from the automotive industry. These esters are used as lubricants in the automotive industry as they provide low volatility, high lubricity, and good oxidative stability. However, the fatty acid methyl ester segment is anticipated to hold a vital share of the market in the coming years.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the specialty oleochemicals market is classified as APAC, Europe, North America, and LAMEA. The market of Asia Pacific is expected to constitute a vital share of the market during the projected period owing to the manufacturers. However, the market in Europe is anticipated to expand at a rapid pace during the forecast period. The growth in the region is attributed to the result of favorable regulation policies by registration, evaluation, and authorization of chemicals (REACH). Moreover, the North American market is expected to propel in the coming years owing to the strict government restrictions on the use of petroleum-based goods due to their negative impact on the environment.

Competitive Landscape

Key players competing in the specialty oleochemicals market are Emery Oleochemicals; Corbion; Wilmar International Ltd.; KLK OLEO.; VVF Group; Evonik Industries AG.

FAQs

How much is the market worth?

The Specialty Oleochemicals market size was valued at USD 25.9 billion in 2022 and is expected to surpass USD 60.0 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 8.5%.

What are the key drivers of the market?

The market's growth is attributed to the rising biopolymer demand.

What segments are covered in the Specialty Oleochemicals report?

The segments covered in the report are application (consumers goods, personal care & cosmetics, textiles, healthcare & pharmaceuticals, food processing, additives, paints & inks), product type (fatty acid methyl esters, fatty amines, specialty esters, alkoxylates, glycerol esters).

Mention which region is expected to hold the highest share of the Specialty Oleochemicals market.

The North American region is expected to hold the highest share of the Specialty Oleochemicals market.

Mention the key players in the market.

Key players competing in the specialty oleochemicals market are Emery Oleochemicals; Corbion; Wilmar International Ltd.; KLK OLEO.; VVF Group; Evonik Industries AG.