Rising demand for sustainable products and increasing use in personal care, food, and pharma sectors drive the oleochemicals market, led by Asia-Pacific.

AUSTIN, TX, UNITED STATES, January 13, 2025 /EINPresswire.com/ -- The Oleochemicals Market Size was valued at USD 24.0 billion in 2023, and is expected to reach USD 43.3 billion by 2032, and grow at a CAGR of 6.8% over the forecast period 2024-2032.

Oleochemicals Market Expands Driven by Sustainability, Innovation, and Growing Demand for Bio-based Solutions

The oleochemicals market has been rapidly growing, driven by the rising consumer demand for sustainable products. Key players like BASF and Evonik Industries are expanding their product lines to meet this demand, with BASF increasing its capacity in Southeast Asia and Evonik introducing ultra-pure oleochemicals for pharmaceuticals. New EU environmental regulations and the rise of bio-based surfactants further fuel growth. As a cost-effective alternative to petrochemicals, oleochemicals are increasingly favored across industries such as cosmetics, personal care, food, and pharmaceuticals. Despite challenges like raw material price volatility and geopolitical tensions, technological advancements and research investments support continued market performance.

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Prominent Players:

➢ Vantage Specialty Chemicals, Inc.
➢ Emery Oleochemicals
➢ Evonik Industries AG
➢ Wilmar International Ltd.
➢ Kao Chemicals Global
➢ Ecogreen Oleochemicals
➢ Corbion
➢ Cargill, Incorporated
➢ Oleon NV
➢ Godrej Industries
➢ IOI Corporation Berhad
➢ KLK OLEO
➢ Evyap Sabun Yag Gliserin San ve Tic A.S.
➢ JNJ Oleochemicals Incorporated
➢ Sakamoto Yakuhin kogyo Co., Ltd.
➢ Stephan Company
➢ Pepmaco Manufacturing Corporation
➢ Philippine International Dev., Inc. (Phidco, Inc.)

Key Segment Analysis

By Product:
➢ Specialty Esters
➢ Fatty Acid Methyl Esters
➢ Glycerol Esters
➢ Alkoxylates
➢ Fatty Amines
➢ Others

Fatty Acid Methyl Esters Dominate the Oleochemicals Market with a Renewable Energy Focus and Diverse Industrial Applications

In 2023, fatty acid methyl esters dominated and captured approximately 35% of the oleochemicals market due to their broad applications, especially in biodiesel production. Fatty acid methyl esters, produced through fatty acid transesterification, serve as a renewable energy source, aiding in reducing greenhouse gas emissions and fossil fuel dependence. Their versatility extends to surfactants, lubricants, and personal care products, driven by biodegradability and low toxicity. Increasing renewable energy goals worldwide further bolsters their demand, keeping fatty acid methyl esters at the forefront of the oleochemicals market.

By Form:
➢ Powder
➢ Flakes
➢ Liquid
➢ Others

Liquid Oleochemicals Lead Market with Versatility and Ease of Use Across Industries

The liquid form segment dominated and accounted for 65% of the oleochemicals market in 2023, driven by its adaptability and ease of use. Liquid oleochemicals, such as fatty acids and glycerol, are widely employed in personal care products, industrial lubricants, and biodiesel production due to their superior mixing and handling properties. Applications include soaps, detergents, and cosmetics, benefiting from their ability to enhance performance and stability. Their critical role in diverse industries and integration ease cements their dominant market position.

By Application:
➢ Personal Care & Cosmetic
➢ Consumer Goods
➢ Food Processing
➢ Textiles
➢ Paints & Inks
➢ Industrial
➢ Healthcare & Pharmaceuticals
➢ Polymer & Plastic Additives
➢ Others

Personal Care and Cosmetics Drive Oleochemical Demand with Focus on Sustainable and Eco-Friendly Ingredients

In 2023, personal care and cosmetics applications dominated and generated 30% of the oleochemicals market revenue, fueled by demand for sustainable ingredients. Oleochemicals like fatty acids, esters, and surfactants are key components in soaps, cleansers, moisturizers, and hair care products, offering skin-friendliness, hydration, and superior cleansing. Growing consumer preference for eco-friendly and biodegradable products amplifies their use, ensuring oleochemicals remain essential in personal care formulations.

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Regional Analysis

In 2023, the Asia-Pacific dominated the oleochemicals market by approximately 45% of the overall revenue in the oleochemicals market worldwide, and its growth will continue for generations to come. Mainly, the fact that the availability of raw materials comes cheap, including palm oil and palm kernel oil, in countries such as Malaysia and Indonesia is increasing the interest of the manufacturers to increase their capacities. China is a big consumer of specialty oleochemicals, as the products are used in household cleaners, cosmetics, or pharmaceuticals. India's consumption is on the rise driven by the increased demand for biodiesels and the overall take-up of fatty amine and methyl ester in agrochemicals, especially within West India, where a large majority of soap and detergent producers are concentrated. What is driving this regional growth is the expansion of personal care, food processing, and pharmaceutical sectors.

Recent Developments

➢ May 2024: Corbion entered a partnership agreement with IMCD, a distribution partner and formulating company of specialty chemicals and ingredients, for the inclusion of various Corbion products for the food & beverage sector in Thailand.
➢ April 2024: Vantage Specialty Chemicals increases the capacity of METAUPON* NMT (N-Methyl Taurine) in Leuna. The expansion is to capture consumer demand for personal care, industrial, and household applications.
➢ June 2023: Oleon Americas, a specialist in natural chemistry to produce chemicals, launched its Conroe, Texas, U.S.-based production facility for sustainable oleochemicals.

The oleochemicals market is growing rapidly, driven by demand for sustainable products and innovations from key players like BASF and Evonik Industries. Expanding product lines, bio-based solutions, and eco-friendly production methods are shaping the market. New EU regulations, volatile crude oil prices, and technological advancements further boost the sector, while challenges like raw material price fluctuations persist.

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