Chemicals Industry Today

Oleo Chemicals Market | Increasing Consumption in Soaps & Detergents Industry is driving the market growth

Global Oleo Chemicals Market Information by Type (Fatty Acids, Fatty Alcohols, Methyl Ester, Glycerol), by Application (Soaps & Detergents, Intermediates, Plastics, Coatings, Lubricants, Rubber, Personal Care, and Others) and Region- Forecast till 2023
Published 12 February 2018
The Global Oleo Chemicals Market is categorized on the basis of type, application, and region. On the basis of type, the market is bifurcated into fatty acids, fatty alcohols, methyl ester, glycerol and others. On the basis of application, the oleo chemicals market is categorized into soaps & detergents, intermediates, plastics, coatings, lubricants, rubber, personal care, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players
Some of the prominent players operating in the Global Oleo Chemicals 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.

Oleo Chemicals are derived from sustainable and renewable resources, which is the major reason for their increasing demand in varios end use industries. The Global Oleo Chemicals Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Of all, Asia Pacific is anticipated to increase with the highest CAGR during the forecast period, 2017 to 2023 owing to high raw material availability. The need for oleo chemicals is anticipated to increase in many countries of the North America and Europe such as U.S., Canada, U.K, Germany and France due to high consumer spending capability. However, the lack of raw material is allowing them to import from South East Asian countries is predicted to increase the Oleo Chemicals Market prices.

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North American Oleo Chemicals Market is anticipated to observe a huge growth owing to high consumption potential, rising production limits, and increasing economic growth rate. In North American region, the U.S. is anticipated to be the major shareholder in the regional growth of Oleo Chemicals Market and is anticipated to increase growth rate in the forecast period. As of 2016, the U.S accounted for the largest market share and was followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of the banning of trans fats may further boost the consumption of palm-based oil products where Oleo Chemicals are essential in manufacturing palm based products. In Europe, the demand for oleo chemicals is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia owing to their utilization in the production of vulcanized rubber for automobile industries. Furthermore, presence of major automobile industries specifically in Germany is expected to impact the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in oleo chemicals. Asia Pacific Oleo Chemicals Market is predicted to grow with a moderate CAGR due to increasing demand for agrochemicals which use fatty acids, fatty alcohols and methyl esters in order to increase the grain yield. Oleo Chemical products have been widely used in many lubricant and metal working applications. These chemicals provide unique properties in the lubricant and metal working industries of automotive sector in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is anticipated to increase the demand for lubricants which in turn is anticipated to increase the demand for Oleo Chemicals over the forecast period, 2017 to 2023.

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