Naturally Synthesized Oleochemicals Market to reach USD 31.7 Billion by 2021, driven mainly by continued thrust to replace petrochemical based solutions

Hyderabad, Nov. 30, 2016 -- The report “Oleochemicals Market Analysis: By Type (Fatty Acids, Fatty Alcohols, Glycerine, Methyl Esters, Fatty Amines and Others); By Application (Pharmaceuticals, Personal Care, Food & Beverages, Soaps & Detergents, Intermediates and Others)–Forecast (2016 - 2021)”, published by IndustryARC, estimates the market size to reach $31.7 Billion by 2021.

Browse 13 Market Tables, 66 Figures spread through 135 slides and an in-depth TOC on “Oleochemicals Market (2016 - 2021)”
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Escalating demand for bio-based products and growing need for sustainable solutions coupled with changes in regulatory framework are together amassing the influence of oleochemicals in different segments of chemical industry. Plant, animal and vegetable oils are processed to derive naturally occurring feedstocks called oleochemicals. The most common oleochemicals available in the market are fatty acids and glycerol which can be further processed to form intermediates. 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. Recent advancements in the industry have created new applications in polymers, lubricants and bio-surfactants which propose significant opportunities for key players in the long run.

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In the coming few years, major players in the industry are anticipating to start-up new fatty alcohol plant capacities in Asia. Major players such as Wilmar, KLK Oleo, Musim Mas and Kao are all set to see an expansion in their production capacities. A total capacity of approximately 600 KT/year has flooded the market in 2013. According to IndustryARC analysis, demand for fatty alcohols is budding in the Asian region because of a wide range of applications such as key ingredients for surfactants infused in cleaners for industrial use, and as constituents for plastic-processing agents, along with applications such as use in shampoo and detergent for consumer use.

Fatty acids, fatty alcohols and Glycerine together accounted for a share of 78% during 2015. Fatty acids are the most necessitated oleochemicals primarily due to their inevitable usage in manufacturing derivatives which eventually are processed into end products. As of last year, the share of synthetic alcohols was 32%, when compared to the 68% from oleochemical-based alcohols. A deluge of new fatty alcohol capacity is foreseen to further help the oleochemical based fatty alcohols to grow by 6% till the end of 2016. Palm plantation owners, such as Wilmar and KLK have been moving beyond fatty acid production and into downstream businesses, such as fatty alcohols and surfactants to increase their margins.

The global market for oleochemicals is dominated by APAC, which is poised to display the fastest growth due to growing markets and factors like product portfolio expansion in order to cater the disparate needs across countries. China is the largest oleochemicals market with a share of 12% currently and has overtaken the U.S as the world's leading market of oleochemicals. The number of manufacturers across the world for Oleochemicals has increased manifold. These manufacturers are actively investing in scaling up their position in the market and are able to attract profitable deals.

Some of the major players are:

• Wilmar International
• IOI Group
• KLK Oleo
• Emery Oleochemicals
• Clariant AG

Acidchem International Sdn Bhd, Asean Oleochemical Manufacturers Group, Baerlocher (M) Sdn Bhd, BASF SE, Bio Organics Sdn Bhd, Cargill Inc., Carotech Sdn Bhd, Carotino Sdn Bhd, CCM Chemicals Sdn Bhd, Clariant International Limited, Croda International Plc, Derichem (M) Sdn Bhd, Dow Chemicals, DuPont Malaysia, Ecogreen Oleochemicals, Emery Oleochemicals, Emery Oleochemicals (M) Sdn Bhd, European Oleochemicals and Allied Products Group, Evonik Industries, Fatty Chemical (M) Sdn Bhd, FPG Oleochemical Sdn Bhd, Global Biodiesel Sdn Bhd, Godrej Industries, Greenwell Esters Sdn. Bhd., IFFCO Malaysia Sdn Bhd, Inno-Wangsa Oils & Fats Sdn Bhd, Intermed Sdn Bhd, IOI Group, KLK Malaysia, KL-Kepong Oleomas Sdn Bhd, Oleon NV & others.

The overall Oleochemicals market is characterized by large number of companies but top three companies account for 54% market share due to the wide distribution network and brand reputation. Rapid developments in emerging countries and use of innovative products and materials in manufacturing oleochemicals have supported the growth of markets.

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