Global Oleochemicals Market to Grow at a CAGR of Over 7.54% through 2022

In 2012, the Global Oleochemicals Market was evaluated around USD 16.05 billion and is expected to reach approximately USD 33.19 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 7.54% over the forecast period owing declining dependence on petrochemicals is projected to be a key factor fueling the growth during the next few years. Encouraging government regulations concerning financial incentives and tax benefits for bio-based chemical manufacturers are anticipated to impact the market growth positively. The innovations in applications along with product development are predicted to generate opportunities for market players during the projected period. The steady raw material supply, especially in the Southeast Asian nations like Malaysia and Indonesia, is estimated to be a major concern for market players. Oleochemicals are utilized in an extensive variety of applications involving personal care, surfactants, soaps, food additives, and detergents. Key chemical manufacturers have switched their preference towards utilizing-based chemicals for producing polymers. This is expected to influence the market players positively for acquiring the downstream potential of several oleochemicals like fatty acid glycerol, esters, and alcohols. The growing demand for bio-diesel might cause a rise in biofuel costs which are frequently affected by alterations in the blending norms and government policies. These factors are projected to stimulate the overall finances of oleochemical-based products that are expected to hamper the growth of the global market during the forecast years. The raw materials utilized for producing oleochemicals involve animal and vegetable oils & fats or are produced using the petrochemical raw material. The high pace of bio-based polyamide commercialization in the aforementioned applications is projected to encourage product demand further during the forecast period. The existence of numerous domestic producers in Southeast Asian nations Indonesia and Malaysia along with elevated demand in the local markets has been a key factor fueling the growth of the regional oleochemicals market. Government support concerning tax benefits especially in the developing markets of India and China with an objective to promote the production of eco-friendly chemicals is anticipated to boost the global market growth in next few years.

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Regional Outlook and Trend Analysis

In 2015, Asia Pacific region was the largest regional oleochemicals market and reported for around 40% of overall volume. Besides being the leading consumer, this region is also the largest oleochemicals manufacturer. The existence of a lot of local producers in Southeast Asian nations like Indonesia and Malaysia has been a key factor fueling the regional market growth. Giant Asian plantation organizations have funded the downstream chemical potentials to limit overcapacity of oleochemical in this region and to persuade decreased profitability. European oleochemicals market is projected to experience significant growth during the next few years. Growing significance for biodiesel as a substitute for petroleum-based fuels has been a key driving factor for the market growth in this region. Variable prices of petroleum and encouraging policies like blending norms are anticipated to fuel the demand of biodiesel, which consecutively projected to impact the European market positively during the future.

Competitive Outlook and Trend Analysis

Producers have taken a sensible approach to substitute bio-based chemicals from petrochemicals in order to reduce the reformulation and re-equipping cost and time. The global market has major diversification opportunities and had experienced a huge amount of acquisition and mergers by market participants during the last few years to boost the industry share. The important integration over the raw materials providers for producing oleochemicals has escalated the market competition further. Over 25% of fatty alcohol and 60% of fatty acid capacities are possessed by raw material providers worldwide; this has contributed to meeting economies of scale and augmented profit margins. The global market has huge potential for established manufacturers and new entrants. The established companies can research the oleochemicals and its derivatives on the basis of the feedstock, either by backward or forward integration which will permit these organizations to produce downstream products which contribute value to their established method. Key market participants in the global oleochemicals market are BASF, SABIC, Cargill, AkzoNobel, Wilmar International, TerraVia, Evonik, Evyap, Ecogreen Oleochemicals, Godrej Industries, KLK Oleo, Oleon NV, Musim Mas Group, IOI Group, Croda International, Procter & Gamble Co., Chemical Associates Inc., Twin River Technologies, and Emery Oleochemicals.

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Table of Contents

1. Introduction
1. Report Description
2. Research Methodology
1. Secondary Research
2. Primary Research
2. Executive Summary
1. Key Highlights
3. Market Overview
1. Introduction
1. Market Definition
2. Market Segmentation
2. Market Dynamics
1. Drivers
1. Unbalanced petrochemical prices
2. Rising demand for sustainable and biodegradable products
2. Restraints
1. Modification in environmental regulations and combination norms
3. Opportunities

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