Oleochemicals are chemicals that are derived from plants and animal fats. Many a times they are analogous to petrochemicals which are derived from petroleum. During the 1970’s, when there were considerable amount of profits generated from petroleum based products, the market for natural oils and fats-based chemicals saw a reduction in the gains. However, when the petrochemical industry experienced a steep plunge in the crude oil prices, the attention got shifted from petrochemicals to natural-based feedstock.
Browse MarketIntelReports New Research on Oleochemicals Market: By Type (Fatty Acids, Fatty Alcohols, Glycerine, Fatty Amines and Others) By Application (Pharmaceutical, Personal Care, Food & Beverages, Lubricants and Grease, Polymers, Paints and Coatings, Intermediates and Others)– Forecast (2016 – 2021) @ http://www.marketintelreports.com/report/cmr%200092/oleochemicals-market-by-type-fatty-acids-fatty-alcohols-glycerine-fatty-amines-and-others-by-application-pharmaceutical-personal-care-food–beverages-lubricants-and-grease-polymers-paints-and-coatings-intermediates-and-others-forecast-2016–2021
The main factor owing to the growth of this industry is the dire need to replace all the petrochemical products. Growing concern over the environment and increasing legislations to follow has developed a situation for natural synthesis of chemicals. The sustainable and cost-effective ways for production of renewable chemicals are necessary for sustenance of the mounting population and economy, coupled with abridged carbon footprint.
The manufacturing of oleochemicals deals with a series of enzymatic reactions across the production process to manufacture basic oleochemicals like fatty acids and alcohols along with glycerine. The hydrolysis of fats result in 95% production of fatty acids and glycerine is produced as a by-product. These fatty acids are further utilized for the production of fatty alcohols and methyl esters. Fatty acids are anticipated dominate the global oleochemicals market by type and are estimated to control around 51% of the total oleochemicals consumption by type in 2021. However, fatty amines are estimated to attain the fastest growth rate during the forecast period. The global market size is estimated to reach $31.7bn by 2021 at a CAGR of around 4.9% during the forecast period of 2016 and 2021.
The report explains that global oleochemicals market is segmented on the basis of types, application and geography. Based on types, oleochemicals is classified into :
Oleochemicals find their applications into a variety of end used industries which include:
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Each of these segments is further broken down to give an in-depth analysis of the market. The oleochemicals market report analyses the oleochemicals in various applications and covers the market demand with respect to regions.
With environmental safety being the prime concern and the non-renewable resources getting depleted, stringent regulations are forced to be amended. With this initiative there has been a big opportunity for the oleochemicals to pave into the market and substitute the traditional petroleum based products. The oleochemicals market is driven by increased demand from the end-use industries such as soaps and detergents, personal care, pharmaceuticals, lubricants and many others. Abundant supply of raw materials and competitiveness of the prices are yet other reasons which will propel the growth of oleochemicals in the near future.
As far as the geographical region are concerned, Asia-Pacific, due to its expanding economy and rapidly growing industrial and commercial activities is estimated to experience the highest growth in the oleochemicals market between 2016 and 2021.
The Key Players profiled in this report include like:
The report analyses the oleochemicals market demand with respect to various regions. Competitive landscape for top five oleochemicals market is highlighted and market players are profiled and are analysed on disparate aspects like company overview, financial overview, product portfolio and recent developments.
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