Oleochemicals are chemical compounds that are derived from the hydrolysis or methylation of fats and oils of both plants and animals. The sources are soybeans, palm kernels, cotton seeds, copra, ground nuts, sunflower seeds, rapeseeds, Lin seeds, castor beans, tallow and other animals, fish oils, and lard.
The global market for oleochemicals has been growing at an annual rate of 5.3% commensurate with the end user applications. The oleochemicals demand to use in various application industries, such as personal care and pharmaceuticals, lubricants and greases soaps and detergents, surface coatings and polymers, food and beverage, and biofuels are in huge. Though the adverse economic conditions had affected many end-user industries of oleochemicals, but, with recovery in economic conditions and with increase in per capita income, the market is now stable and growing substantially. New developments in the oleochemicals technologies have ensued to lessen the use of petrochemical products. The Asia-Pacific region dominates the oleochemicals market followed by North America and Europe.
Oleochemicals market has been assessed on types, applications and also by regions. Oleochemicals are majorly five types which are fatty acids, fatty alcohols, fatty glycerol, fatty amines and fatty methyl esters and based on the applications: personal care and pharmaceuticals, soaps and detergents; food and beverages; polymers; chemical synthesis and lubricants and greases.
The global market for oleochemicals are growing mainly in Asia-Pacific due to the high production of animal and plant extract, as a raw material available in abundance particularly in Malaysia, Indonesia and China. In addition, many intermediates are being produced from oleochemicals, which are again used in various application industries.
ADM, Akzo Nobel, BASF, Cargill, Evonik, Oleon, and Wilmar International are the major global manufacturers of oleochemicals. This report also highpoints the suppliers landscape with a focus on major companies with profiles and SWOT analysis in detail.