Oleochemicals Market Size Worth $34.89 Billion By 2028

Published On: November 29, 2022

The size of the global oleochemicals market is anticipated to reach USD 34.89 billion by 2028, exhibiting a CAGR of 7.57% during the projected period. Major end-use industries including food & beverage, pharmaceuticals, personal care & cosmetics, and plastic & polymers have increased demand for oleochemical derivatives, which can be linked to the market expansion.

Regulations governing the usage of synthetic items have also promoted the popularity of the product owing to its cost- and environmentally-friendly qualities. In the pharmaceutical, food, soap, laundry detergent, candle, wax, lubricant, and paints & coatings sectors, fatty acids are one of the most widely utilized oleochemicals. 

Oleochemicals are made from fats and oils; they come from both fossil fuels and natural sources including petrochemicals and plant and animal fats and oils. The utilization of goods generated from vegetable oils, such as palm kernel oil and palm as a key feedstock for production, has significantly changed as a result of rising crude oil costs. Due to the ease of access to raw materials, the bulk of palm oil is used in the synthesis of oleochemicals. All of these elements are anticipated to fuel market expansion. 

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Oleochemicals Market Highlights

• Based on product, the specialty esters segment captured the highest market share in 2020 and fatty acid methyl ester is likely to emerge as the fastest-growing segment by 2028

• Fatty alcohols are used in cosmetics and pharmaceuticals as emollients. Cetyl (C16) alcohol is the most widely used product, particularly in lipsticks, shaving creams, and hair lotions

• Geographically, Asia Pacific held the largest market share of more than 40% in 2020 owing to the rise in demand for eco-friendly plastics across a variety of end-use industries, which in turn has fueled demand for raw materials like fatty acids and other bio-based polymers

Oleochemicals Market Segments

Oleochemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
    • Specialty Esters
    • Fatty Acid Methyl Ester
    • Glycerol Esters
    • Alkoxylates
    • Fatty Amines
    • Others

Oleochemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
    • Personal Care & Cosmetics
    • Consumer Goods
    • Food & Beverages
    • Textiles
    • Paints & Inks
    • Industrial
    • Healthcare & Pharmaceuticals
    • Polymer & Plastic Additives
    • Others

Oleochemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • The Netherlands
        • Russia
        • Switzerland
        • Poland
        • Sweden
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Malaysia
        • Singapore
        • Indonesia
        • Taiwan
        • Australia
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia

List of Key Players in the Oleochemical Market
    • Cargill, Inc.
    • SABIC
    • Kuala Lumpur Kepong Berhad
    • BASF SE
    • Oleon N.V.
    • IOI Group Berhad
    • Wilmar International
    • Kao Corp.