Growing adoption of oleochemicals in various end use segments, such as surfactants, personal care, and home care is driving their sales significantly. The production of key feedstock for polyurethane production, polyols, is also based on oleochemical routes, thereby providing impetus to the growth in the oleochemicals market.
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Global Oleochemicals Market: Snapshot
Oleochemicals are synthetic substances that are gotten from plants and creature fats. Numerous a times they are practically equivalent to petrochemicals which are gotten from oil. During the 1970’s, when there were significant measure of benefits created from oil based items, the market for characteristic oils and fats-based synthetic concoctions saw a diminishment in the profits. Be that as it may, when the petrochemical business encountered a lofty dive in the raw petroleum costs, the consideration got moved from petrochemicals to regular feedstock.
Oleochemicals are highly beneficial chemicals that are sourced from plant and animal fats. Oleochemicals are sourced from natural raw materials such as, castor oil, vegetable oil, soybean oil, animal oils & fats and also from petrochemical feedstock. Oleochemicals are witnessing increasing popularity as they can be substituted for the petroleum-derived products. The growing environment concerns are driving the adoption of biodegradable chemicals, which is further fueling the growth in the oleochemicals market.
Global Oleochemicals Market: Region-wise Outlook
Growing demand for bio-degradable products in food and beverage industry is fueling the demand for oleochemicals globally. In regards to region, strict regulations in Europe against genetically modified (GM) food products drives the demand of oleochemicals market. Asia-Pacific is anticipated to dominate the oleochemicals market in terms of both value and volume. The increase in plantation activities in Indonesia, Malaysia, and the Philippines, in order to manufacture various cosmetics and personal care products from oleochemicals, is projected to boost the demand for the oleochemicals market in the region.
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Key Findings of the Oleochemicals Market:
Research and development is a key part of the oleochemicals market. The end product manufacturers & associations and, manufacturing companies invest for technology modifications and future advancements of oleochemicals to find a wide area of applications in personal care & cosmetics and, food industry, thereby, creating growth opportunities for the oleochemicals market throughout the forecast period.
The key companies profiled in the report include Emery Oleochemicals, Wilmar International, Oleon NV, KLK Oleo, Musim Mas Group, Croda International, IOI Group, Procter & Gamble Co., Twin River Technologies, and Chemical Associates Inc.
The research answers important questions, including the following:
- How does the market look like by the end of 2029?
- Why the demand for the highest in region?
- What manufacturing techniques are involved in the production?
- What are the new products launched by players?
- In which year region will surpass region in terms of value?
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