Specialty Oleochemicals Market: Introduction
- Specialty oleochemicals are derived from plant-based feedstock such as palm oil, soybean oil, rapeseed oil, and sunflower oil. These specialty oleochemicals are used as natural materials in various applications such as cosmetics, biodegradable polymers, bio-surfactants, and lubricants. The products exhibit special characteristics including emulsifying properties and surface activity with beneficial biological properties.
Key Drivers of Global Specialty Oleochemicals Market
- The global specialty oleochemicals market is driven by its various characteristics. It is derived from plant-based raw materials and it is used in a wide range of applications globally. These chemical compounds are used in pharmaceuticals, food, personal care, and other consumer products, owing to its green nature as compared to other petrochemicals alternatives. Specialty oleochemicals are also used in paints, inks, drilling fluids, agrochemicals, deicing chemical agents, and textile materials.
- The global specialty oleochemicals market has a presence of several major players. The companies are focusing on meeting environmental regulations, and easy access to raw materials is expected to augment the market growth in the near future.
- Supportive regulatory framework by various regulatory bodies, such as FDA and EPA, is driving the specialty oleochemicals market globally
To clarify your doubts about the report on Specialty Oleochemicals Market, Request a Brochure here
Specialty Esters Segment to Dominate Global Market
- Specialty esters segment dominated the global specialty oleochemicals market in 2018, owing to its extensive use in various industries, such as medical, food packaging, construction, automotive, and paints & coatings, for various applications, including lubricants, plasticizers, and coalescing agents. The specialty ester segment is anticipated to expand at a significant rate due to the rising demand for specialty esters for bonding, coatings, and additives.
- Fatty esters are majorly used as food additives in baked goods, ice creams, and other processed products in order to stabilize, moisturize, and thicken the food product. The segment is expected to grow at a significant rate during the forecast period.
- Glycerol esters include glycerol di-stearate, glycerol monostearate (GMS), oleates, medium chain triglycerides (MCT), and other glycerides. Glycerol esters have witnessed significant boost in demand in the form of an emulsifier and thickener in food and beverages and personal care products, owing to their chemical composition.
Personal Care & Cosmetics Application Segment to Expand at a Significant Rate
- Personal care & cosmetics is estimated to emerge as the fastest growing application segment by 2027. Decrease in use of harmful chemicals, including aluminum salts, parabens, and phthalates coupled with adoption of sustainable raw material has contributed to high consumption of specialty oleochemicals in this application segment.
- Rise in demand for sensitive skin products is also driving the adoption of bio-based skin care products. This, in turn, is anticipated to propel the demand for specialty oleochemicals in personal care & cosmetics industry in the near future.
- Paints, inks, health & pharmaceutical products, food processing, and polymer & plastic additive sectors have also witnessed rise in the consumption of specialty oleochemicals
- The textile industry in China and Southeast Asia has developed and witness intense competition, which has fueled the demand for specialty oleochemicals. The food & beverages sector has witnessed an upward trend in several countries and consumption of specialty oleochemicals in different food products, such as bakery and margarine.
Asia Pacific to Hold Significant Share of Global Specialty Oleochemicals Market
- In terms of region, the global specialty oleochemicals market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific emerged as a major market for specialty oleochemicals. Southeast Asian countries, mainly Indonesia and Malaysia, are major producers of palm oil, a main raw material of specialty oleochemicals. Thus, the availability of raw materials in these countries and other Asia Pacific countries is expected to enhance the production of specialty oleochemicals in the region.
- Growth of end-use industries in Asia Pacific is expected to boost the consumption of specialty oleochemicals in the region
- This market in North America has witnessed significant growth. The region is experiencing high demand for personal care and pharmaceutical products obtained from natural derivatives.
- Increase in demand for sustainable solutions and biodegradable products coupled with changes in the U.S. regulations, such as EPA, are driving the use of oleochemicals in the chemical industry of the country
Looking for Regional Analysis or Competitive Landscape in Specialty Oleochemicals Market, ask for a customized report
Key Players Operating in Global Market
The global specialty oleochemicals market is highly consolidated with a few big players dominating the market. The market includes a large number of domestic and international market players. Integration by key players from procurement of raw material to distribution of the final product across the value chain is also a major strategy being adopted in this market. Additionally, specialty oleochemicals companies are also researching on low-cost production methods to produce chemicals by investing heavily in research and developmental activities.
Key players operating in the global specialty oleochemicals market include:
- Emery Oleochemicals Sdn Bhd
- KLK Oleo
- IOI Corporation Berhad
- Oleon NV
- Evonik Industries AG
- Kao Corporation
- Vantage Specialty Chemicals, Inc.
- Wilmar International
Global Specialty Oleochemicals Market: Research Scope
Global Specialty Oleochemicals Market, by Product
- Specialty Esters
- Fatty Acid Methyl Ester
- Glycerol Esters
- Fatty Amines
Global Specialty Oleochemicals Market, by Application
- Personal Care & Cosmetics
- Consumer Goods
- Food Processing
- Paints & Inks
- Healthcare & Pharmaceuticals
- Polymer & Plastic Additives
Global Specialty Oleochemicals Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.