oleochemicals market size is expected to reach USD 39.08 billion by 2030
The global oleochemicals market size is expected to reach USD 39.08 billion by 2030, expanding at 6.9% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the increasing demand in the global markets for biopolymers.
The global oleochemical industry remains robust and is largely dependent on the movement of application markets. Personal care and cosmetics take up a majority share of the market on a global scale due to increasing consumer awareness about the benefits of using personal care products and increased expenditure on cosmetic products. Seeking the opportunity, globally, several multinational brands have emerged with premium cosmetic and personal care products to capture a significant share of the market.
Access the Oleochemicals Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research
Additionally, the fluctuating petrochemical prices are one of the major factors driving the shift in the trend toward sustainable chemicals. Moreover, the consumption of oleochemicals is expected to rise significantly in the coming years as a consequence of increasing demand for personal care products, pharmaceuticals, and food items.
Major firms that are vertically integrated throughout the value chain continue to define the market dynamics. The oil palm plantation, which includes independent farmers or plantation businesses, is where the value chain originates. Large worldwide firms with extensive presences across the value chain, like Vantage Specialty Chemicals; Emery Oleochemicals; Ecogreen Oleochemicals; and Kao Corporation, hold a sizeable share of the global oleochemicals industry.
Vegetable and animal oils & fats are utilized as common raw materials in the production of oleochemicals. They come from petrochemical feedstock as well. Rapeseed oil is a significant vegetable oil, as are those made from palm, castor, sunflower, soybean, peanut, and corn. Any fluctuations in the prices and availability of these raw materials affect the overall cost of production and as a result, increase the end cost of the product
Order Your Sample Copy of the Oleochemicals Market Size, Share & Trends Analysis Report By Product (Specialty Esters, Fatty Amines), By Application (Personal Care & Cosmetics, Consumer Goods, Healthcare & Pharmaceuticals), By Region, And Segment Forecasts, 2024 – 2030
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