Oleochemicals Market Report

Oleochemical fatty acids are derived from natural raw materials, mainly based on plant or animal fat.  The formation of basic oleochemical substances like fatty acids are by various chemical and enzymatic reactions.  This chemicals are manufactured by splitting up oils or fats by the process of hydrolysis. This process forms fatty acids and glycerin while alcoholysis produces fatty acid esters and glycerine. Oleochemical fatty acids are biodegradable, exhibit low toxicity and are considered to be environment friendly. The major commercially significant oleochemical fatty acids are fatty acids and glycerines which are referred to as basic oleochemical fatty acids. Furthermore, the most common application of this chemicals is in the personal care industry for manufacturing of various lotions, creams, and so on. Another common application is in the production of detergents. Lauric acid is used to produce sodium lauryl sulfate, the main ingredient in many personal care products. Other applications include the production of lubricants, green solvents, and bioplastics. Moreover, oleochemical fatty acids are replacing many petroleum based products as their properties help build a product which is better for the environment and which can be manufactured from renewable raw materials. Additionally, due to their beneficial properties and wide range of applications, the Oleo chemicals market is expected to propel in near future. 

Oleochemical Fatty Acids Market Development 

Oleochemical Fatty Acids Market Outlook

Growing demand from the food & beverage and packaging industry and rise in demand for environment-friendly products are some of the factors driving the oleochemical fatty acids market. Furthermore, technological innovation & development along with applications such as agrochemicals and detergents are some of the major factors contributing to the growth of the oleochemical fatty acids market globally. However, fluctuating prices of raw materials can hamper the market growth. Though, increasing penetration in key end-use industries and preferences of bio-based raw materials over petrochemicals are some opportunities which can drive the market.

Oleochemical Fatty Acids Market Segmental Overview

The report segments the oleochemical fatty acids market into source, process, type, application and geography. 

Oleochemical Fatty Acids Market by Source 

Based on source, global oleochemical fatty acids market is segmented into vegetable source and animal source. The vegetable oil segment is further classified into soy, palm, sunflower and others. Likewise, the animal fat segment is bifurcated into tallow, butter and other. The vegetable oil segment accounted for the largest market share in 2018, owing to the high consumption of soy, sunflower seed for the production in the oleochemical fatty acids fatty acid. Oleochemical derived from vegetable oils, such as soybean oil, are used to develop polyamides, which are widely used in automotive and textile applications. 

Oleochemical Fatty Acids Market by Process 

The segmentation based on process includes distilled oleochemical fatty acid and fractionated oleochemical fatty acid. Among these, the fractionated oleochemical fatty acid, such as fatty acids C6, C8 and C10 are used as a raw material for the production of surfactants, acid chlorides, flavor and fragrances, lubricants, biocides, coating resins and solvents. In addition, fractional distillation allows the separation of fatty acid mixtures into a narrower cuts or even individual component, based on different boiling characteristics of components. 

Oleochemical Fatty Acids Market by Type 

Based on type, the global oleochemical fatty acids market has been segmented into stearic acid, palm fatty acid, caproic acid, oleic acid and others. The stearic acid were observed to dominate the global Oleo chemicals market and were estimated to control largest market share of the total oleochemical fatty acids consumption by type. 

Oleochemical Fatty Acids Market by Application 

Various applications are studied in this report such as pharmaceutical & personal care, food & beverages, agrochemicals, soaps & detergents, polymers and others.  Oleochemical fatty acids are used mostly in pharmaceutical & personal care and soaps & detergents applications. They are used in several applications, such as manufacturing of soaps, beauty products, medicines, detergents, various oils used in the food industry and so on. 

Oleochemical Fatty Acids Market by Geography 

Based on geography, the global oleochemical fatty acids market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. Asia Pacific accounted for the largest market share in the global oleochemical fatty acids market and is further anticipated to maintain its leading position. The growth of this region is attributed to the growth of the end-use industries and rising disposable income. However, Europe region in terms of market size due to high demand from paints & coatings and plastic industries is expected to grow rapidly during the forecast period.

Oleochemical Fatty Acids Market Key Players

The global oleochemical fatty acids market is concentrated with leading manufacturers such as Wilmar International Ltd., BASF SE, Eastman Chemical Company, P&G Chemicals, Cargill Incorporated, Evonik Industries,  PTT Global Chemical Public Company Limited, Arizona Chemical Company LLC, Emery Oleochemical fatty acids Group, Alnor Oil Co, Inc., Berg + Schmidt, Isosciences LLC, Vegetable Vitamin Foods Company. Leading manufacturers are involved in product launches and acquisitions to exploit maximum revenue potential in the oleochemical fatty acids market.