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Specialty Oleochemicals Global Market Size, Share Report, Growth, Analysis, Key Players, Revenue, Future Trends, Forecast 2033 | The Business Research Company
Specialty Oleochemicals Global Market
The specialty oleochemicals market size is expected to see strong growth in the next few years. It will grow to $41.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising preference for green chemistry, increasing demand in emerging economies, innovation in product development, expanding applications in the healthcare sector, strategic collaborations and partnerships.. Major trends in the forecast period include increased use in the food and beverage industry, shift towards bio-based surfactants, technological innovations in oleochemical production, rising application in lubricants and greases, exploration of high-value specialty oleochemicals..
Market Overview -
Specialty oleochemicals are chemical compounds that are substitutes for petroleum-based products and are derived from plant-based sources. The oleochemicals are used as natural components in lubricants, cosmetics, biodegradable polymers, and bio-surfactants among others.
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Rising Consumer Demand For Beauty And Cosmetic Products Fuels Specialty Oleochemicals Market Growth
The increasing consumer demand for beauty and cosmetics products is expected to propel the growth of the specialty oleochemicals market going forward. Beauty and cosmetic products include ingredients, textures, perfumes, and packaging. Oleochemicals are considered safe in beauty and cosmetic items as they are derived from natural sources. The consumer's demand for organic and safe products will promote the use of oleochemicals in beauty and cosmetics products. For instance, in April 2023, according to a report published by the International Trade Administration a US-based government agency, in China, sales of cosmetics and beauty products grew 10% from 2020 to reach $88 billion in 2021. Therefore, the increasing consumer demand for beauty and cosmetics products is driving the growth of the specialty oleochemicals market.
Competitive Landscape -
Major companies operating in the specialty oleochemicals market report are Evonik Industries AG, Vantage Speciality Chemicals Inc., Emery Oleochemicals LLC, Wilmar International Ltd., Kao Corporation, Ecogreen Oleochemicals GmbH, Oleon NV, IOI Corporation Berhad, KLK OLEO, HIG Capital LLC, The Vegetable Vitamin Foods Company Pvt. Ltd., Corbion NV, Godrej Industries Limited, Alnor Oil Co Inc., Ferro Corporation, Global Ecogreen Oleochemicals, Pan Century Oleochemicals, Timur Oleochemicals Malaysia, Pacific Oleochemicals Sdn Bhd, The Procter & Gamble Company, Musim Mas Holdings, VVF LLC, Evyap Sabun Yag Gliserin San ve Tic A.S., Lubrizol Corporation, Newell Brands Inc., Sensient Technologies Corporation, Emerald Performance Materials LLC, Chemtrade Logistics Inc., Koster Keunen Inc., Sasol Inc.
Innovative Product Offerings Drive Momentum In Specialty Oleochemicals Market
Product innovations are a key trend gaining popularity in the specialty oleochemicals market. Companies operating in the specialty oleochemicals market are innovating new products to sustain their position in the market. For instance, in September 2020, Emery Oleochemicals, a USA-based manufacturer of specialty chemicals and high-performance chemicals, launched a bio-based E fatty acid esters product. These fatty acid esters have high color stability, and a mild odor, and are easily degraded. EMERY E bio-based esters can be used as an eco-friendly replacement for petrochemical-based components in the formulation of several consumer and industrial systems.
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Key Segments -
The specialty oleochemicals market covered in this report is segmented -
1) By Product: Specialty Esters, Fatty Acid Methyl Esters, Glycerol Esters, Alkoxylates, Fatty Amines, Other Products
2) By Application: Personal Care And Cosmetics, Consumer Goods, Food Processing, Textiles, Paints And Inks, Industrial, Healthcare And Pharmaceuticals, Polymer And Plastics Additives, Other Applications
3) By End User: Food And Beverages, Personal Care And Cosmetics
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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