New York, NY -- (SBWIRE) -- 12/22/2020 -- The global specialty oleochemicals market is forecast to grow at a CAGR of 5.4% from USD 9.46 Billion in 2019 to USD 14.7 Billion in 2027. Oleochemicals are the chemicals that are extracted from plants and animal fats or oils. The growing demand for biodegradable products is making a positive impact on the adoption rate of these chemicals.
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Market Drivers
The market for specialty oleochemicals is growing due to the rising concern for a healthy lifestyle and increasing standard of living in the developing nations. High adoption of food, pharmaceuticals, and personal hygiene care is enhancing market demand. Moreover, the growing demand for biodegradable chemicals will also impact the demand for the product.
The leading companies operating across the global Specialty Oleochemicals market are listed below:
Cargill, Wilmar International, Emery Oleochemicals, Vantage Specialty Chemicals, Ecogreen Chemicals, Kao Chemicals, Oleon, and Evonik Industries.
For the purpose of this report, Reports and Data have segmented into the global Specialty Oleochemicals market on the basis of product, end-use industry, and region:
Product Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Glycerol Ester
Fatty Amine
Specialty Ester
Alkoxylates
Fatty Acid Methyl Ester
Others
End-Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Food and Beverages
Personal Care & Cosmetics
Healthcare & Pharmaceuticals
Textiles
Polymer & Plastics
Paints & Coatings
Industrial
Others
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Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Regional Outlook
The Asia Pacific is known as the manufacturing hub, where several manufacturers have set up plants to meet the required demand. The region also has massive availability of the raw materials, especially in Indonesia, Malaysia, and the Philippines, where the palm and coconut oil markets have witnessed tremendously high growth. North America is the second-largest market for the specialty oleochemicals. The United States is the major contributor due to rising application growth prospects in personal care & cosmetics, consumer goods, healthcare industry, and paints & inks sector. Europe is also anticipated to witness considerable growth on account of the growing significance of biodiesel and sustainability.
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