Oleochemicals Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts From 2021 To 2028

The global oleochemicals market is expected to account for USD 34.89 billion by 2028, expanding at a CAGR of 7.57% during the forecast timeline. The market is driven by the growing use of oleochemical derivatives by end-users including, food & beverages, personal care & cosmetics, pharmaceuticals, and plastic & polymers.

The rising petrochemical goods’ costs and consumers' evolving preferences for eco-friendly goods will also drive product demand. Consumption of oleochemicals in the form of fatty acids, which are used to make medicines, surfactants, lubricants, varnishes, soaps, and detergents, is also anticipated to fuel market expansion in the upcoming years.

Some of the common oleochemical products include specialty esters, alkoxylates, glycerol esters, and among which specialty esters are the largest product segments. Numerous industrial, personal care & cosmetic items, food & beverage, and industrial applications call for fatty acids derived from animal fats, plant oils, and vegetable oils.

One of the key factors propelling market expansion comprises the growing inclination toward sustainable and biodegradable products to lessen petrochemical dependence. To reduce the time and expense associated with reformulation and re-equipment, manufacturers are taking steps to replace chemically derived goods with bio-based chemicals. The growing demand for bio-based plastics is also anticipated to positively impact market expansion.

Oleochemicals Market Report Key Takeaways

• Based on products, the specialty esters segment captured the highest market share 33% in 2020 due to its application in the production of cosmetics and rubber, and as a lubricant in certain pharmaceutical products
• The industrial application type segment held a share of 21.8% in 2020 and the personal care & cosmetics is projected to emerge as the fastest growing segment by 2028
• Oleochemicals are a key raw material in bio-based organic personal care products. It is projected that the rising consumer demand for organic or natural cosmetics, skincare, and haircare products will drive the segment's growth
• The use of organic ingredients in various personal care products has received approval from human health and safety regulatory authorities, including the USDA and FDA, which has fueled the business expansion. Another important use area is plastic and is mostly made using stearic acid (C16-C18), which has a low concentration of unsaturated fatty acids

Oleochemicals Market Segments

• Oleochemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
  • Specialty Esters
  • Fatty Acid Methyl Ester
  • Glycerol Esters
  • Alkoxylates
  • Fatty Amines
  • Others
• Oleochemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
  • Personal Care & Cosmetics
  • Consumer Goods
  • Food & Beverages
  • Textiles
  • Paints & Inks
  • Industrial
  • Healthcare & Pharmaceuticals
  • Polymer & Plastic Additives
  • Others
• Oleochemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • The Netherlands
    • Russia
    • Switzerland
    • Poland
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Singapore
    • Indonesia
    • Taiwan
    • Australia
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia 
• List of Key Players in the Oleochemical Market
  • Cargill, Inc.
  • SABIC
  • Kuala Lumpur Kepong Berhad
  • BASF SE
  • Oleon N.V.
  • IOI Group Berhad
  • Wilmar International
  • Kao Corp.