Oleochemicals Market will grow substantially at a highest CAGR by 2023Posted by Harish Somani on September 20th, 2018 Market Summary: 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 oleochemicals market. Latest Industry News: October 12, 2017: Inventure Renewables, Inc. (US), a leading global provider of technologies required for the rapid, low-cost, high yield extraction of valuable materials, including oleochemicals and biodiesel, etc. announced the commencement of construction of a new facility in Jiangsu province, China partnering with Wilmar International Limited (S’pore), Asia’s leading agribusiness group & oleochemicals manufacturer and Desmet Ballestra Group N.V. (Belgium), a leading global supplier of plants and equipment for oils, fats oleochemical, surfactants and related chemical industries. Intended Audience:
Market Segmentation: The Global Oleochemicals Market is segmented on the basis of application, type, and region. Basis on type, the oleochemicals market is bifurcated into fatty alcohols, fatty acids, methyl ester, and glycerol. By application, the oleochemicals market is categorized into intermediates, plastics, coatings, soaps & detergents, lubricants, rubber, personal care. On the basis of region, the oleochemicals market is categorized into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa. 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. Globally, the Asia Pacific region accounts for the largest market for oleochemicals. Owing to the ample availability of cost-competitive raw materials and labor force required for the production of these chemicals, the APAC market is further estimated to post the highest CAGR during the forecast period, (2017 to 2023). The demand for oleochemicals is predicted to upsurge in numerous developed countries of the North America and Europe due to the high human development index (HDI) figures. However, these region perceive lack of raw material which is compelling them to import these chemicals from the South East Asian countries which, in turn, is expected to provide impetus to the oleochemicals market growth in the APAC region, witnessing hiked-up prices and demand for oleochemicals. Key Competitors:The top players available in the Global Oleochemicals Market are; Eastman Chemical Company (U.S.), Cargill, Incorporated (U.S.), Evonik Industries AG (Germany), BASF SE (Germany), Wilmar International Ltd. (Singapore), Procter & Gamble (U.S.), Godrej Industries Limited (India), PTT Global Chemical Public Company Limited (Thailand), Arizona Chemical Company, LLC (U.S.), and Emery Oleochemicals (U.S.). Receive Sample Copy Of “Oleochemicals Market Research Report – Forecast To 2023” At: Like it? Share it! More by this author |