Oleochemicals Market Size, Share & Trends Report

Oleochemicals Market Size, Share & Trends Analysis Report By Product (Fatty Alcohols, Fatty Acid, Glycerol), By Region (North America, Europe, Asia Pacific, MEA, CSA), And Segment Forecasts, 2020 - 2027

  • Published Date: May, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-282-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 297

Report Overview

The global oleochemicals market size was valued at USD 20.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2027. The growth in the market can be attributed to increasing prices of petrochemicals and a shift in the trend toward sustainable chemicals. In terms of production and product penetration, increasing demand for biopolymers is also projected to positively influence market growth.

U.S. oleochemicals market

Oleochemicals are used in various applications, including personal care, surfactants, soaps, food additives, and detergents. Major chemical manufacturers, such as BASF SE, DuPont, Solvay, DSM, Lanxess, and Arkema, are incorporating bio-based chemicals for polymer manufacturing, which is expected to have a positive impact on the global market. Moreover, the introduction of newer, better quality products that can replace petrochemical-based products is expected to create growth opportunities for oleochemicals manufacturers.

Oleochemicals are widely used in the manufacturing of surfactants, which are further used in several end-use industries, including cosmetics, laundry detergents, personal care, and lubricants.

Personal care & cosmetics is a prominent application segment of the surfactants market, as surfactants are broadly used in the formulation of hair care, skin care, creams, gels, ointments, and other products. In addition, the retail sector in developing countries, such as Brazil, India, and China, are becoming well-organized, which is anticipated to trigger the growth of the personal care & cosmetics industry, in turn, boosting the demand for oleochemicals for surfactant production.

Oleochemicals, such as glycerin and particularly Methyl Ether Sulfonate (MES), are gaining importance as substitutes for Linear Alkylbenzene (LAB) in the production of surfactants. In addition, consumer preference for bio-based chemicals over conventional petrochemicals is anticipated to drive the product demand further.

Compliance with the national and international regulatory norms for sustainable cultivation, manufacturing and distribution along with acquiring certifications, such as USDA, has turned out as a significant driving factor for manufacturers involved in domestic as well as offshore businesses.

Product Insights

Fatty acid emerged as the largest product segment in 2019, both in terms of volume and revenue, owing to the high demand for fatty acids from various end-use industries including soaps & detergents, intermediates, plastics, rubber, paper, lubricants & greases, personal care, textile, food processing, paints & inks, healthcare & pharmaceuticals, and agrochemicals.

The fatty acid segment is further categorized into products such as C6, C8, C810, C10, C12, C1214, C14, C16, C18:0, C18:1, C18:2, and C18:3. Soap & detergents is the largest end-use segment for the fatty acids due to the growing textile sector and increasing disposable income.

Global fatty acid market share

USP Grade glycerin is the most consumed refined grade of glycerol and is widely used in several consumer and industrial applications, including personal care & cosmetics, pharmaceuticals, adhesives & sealants, agrochemicals, food processing, paints & coatings, tobacco, and construction chemicals. Rising demand for high purity natural ingredients in the abovementioned end-use industries, consumer preference for eco-friendly and cheaper products, and an abundant supply of crude glycerin are expected to drive the segment growth.

Regional Insights

Asia Pacific, along with being the most significant consumer, is also the largest producer of oleochemicals and accounts for over half of the global production. Easy availability of feedstock and rapid expansion of major end-use industries are expected to drive the regional market over the forecast period. Indonesia and Malaysia are the primary producers of base products for oleochemicals.

China is a prominent consumer of oleochemicals in the Asia Pacific region. The total import quantity for these products includes more than 2 million tons per year. Palm stearin is one of the significant products in the category of industrial oil, which is imported in a large quantity for the production of oleochemicals. Availability of unsaturated oil in the country can create a potential for oleochemical derivatives, such as polyols and bio-lubricants.

Key Companies & Market Share Insights

Downstream integration by key Asian plantation companies in the past decade aided the regional market to keep in control their major vegetable oil sources, further seizing opportunities in North America and Europe. In addition, capacity overhang across the globe, low interest rates, and reduced profitability have provided room for consolidations and acquisitions. Some of the prominent players in the oleochemicals market include:

  • Cargill, Incorporated

  • SABIC

  • Vantage Specialty Chemicals, Inc.

  • Kuala Lumpur Kepong Berhad

  • Emery Oleochemicals

  • Kao Chemicals

  • Evonik Industries

  • Nouryon

  • IOI Corporation Berhad

  • Wilmar International Ltd.

  • Godrej Industries

  • Oleon NV

  • Chemrez Technologies, Inc.

  • Corbion NV.

Oleochemicals Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 21.2 billion

Revenue forecast in 2027

USD 31.5 billion

Growth Rate

CAGR of 5.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product and region

Regional scope

North America; Europe, Asia Pacific, Central & South America: and MEA

Country scope

U.S.; Canada; Mexico; Germany; France; U.K.; Italy; Spain; Netherlands; Belgium; China; India; Japan; Malaysia; Indonesia; Philippines; Brazil; Argentina; Colombia; Ecuador; Chile

Key companies profiled

Cargill, Incorporated; SABIC; Vantage Specialty Chemicals, Inc.; Kuala Lumpur Kepong Berhad; Emery Oleochemicals; Kao Chemicals; Evonik Industries; Nouryon; IOI Corporation Berhad; Wilmar International Ltd.; Godrej Industries; Oleon NV; Chemrez Technologies, Inc.; and Corbion NV.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this report, Grand View Research has segmented the global oleochemicals market report on the basis of product and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Fatty Acids

      • Fatty Acids, By Product

        • C6

        • C8

        • C8-10

        • C10

        • C12

        • C12-14

        • C14

        • C16

        • C18:0

        • C18:1

        • C18:2

        • C18:3

        • Others

      • Fatty Acids, By Application

        • Soaps & Detergents

        • Intermediates

        • Plastics

        • Rubber

        • Paper

        • Lubricants & Greases

        • Personal Care

        • Others

    • Fatty Alcohols

      • Fatty Alcohols, By Product

        • C6-C10

        • C11-C14

        • C15-C22

        • Others

      • Fatty Alcohols, By Application

        • Soaps & Detergents

        • Personal Care

        • Lubricants

        • Amines

        • Others

    • Glycerol

      • Glycerol, By Product

        • Crude

        • Refined

      • Glycerol, By Application

        • Personal Care & Pharmaceuticals

        • Alkyd Resins

        • Foods & Beverages

        • Polyether Polyols

        • Tobacco Humectants

        • Other

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • The U.K.

      • Italy

      • Spain

      • Netherlands

      • Belgium

    • Asia Pacific

      • China

      • India

      • Japan

      • Malaysia

      • Indonesia

      • Philippines

    • Middle East & Africa

    • Central & South America

      • Brazil

      • Argentina

      • Colombia

      • Ecuador

      • Chile

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