New York
City, 25 January 2019: The Report Oleochemicals Market is anticipated to reach USD 38.61 billion
by 2026. Growing demand for naturally derived products of food & beverage,
chemicals, pharmaceuticals industries are expected to be the major factors
driving the oleochemicals market.
Oleochemicals are basically several
types of chemical products that are derived from vegetable triglycerides or
animals, even if they include elements that are of petrochemical product
origin. Basic oleochemicals include fatty alcohols, fatty acids, glycerin and
methyl esters.
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Industry participants with strong
research and development capacities have been focusing on innovation of new
formulations. Initiatives among different countries and companies have been
undertaken for development of new formulations of these chemicals to cater to
specific requirements of the end use industries. Shift to bio diesel is an
interesting factor responsible for driving these chemicals demand however
sudden changes in and stringent regulations for blending norms might increase
the bio oil prices which will make them less attractive thereby experiencing a
decline in demand of these chemicals. But, this risk is mostly mitigated owing
to significant shift towards shale gas. However, with such challenges though
owing to its advantages over petrochemical based chemicals demand for
oleochemicals will keep rising in the next few years to come.
The shift in consumer demand for
healthy and enhanced nutritious foodstuffs derived completely from natural
origin is some of the macroeconomic factors expected to drive demand for these
products. The industry has the unpredictable potential for profit making owing
to depleting fossil fuels sources for oil and this situation is expected to
produce opportunities for higher usage of biodiesel. Hence with all of these
advantages demand for these products are anticipated to increase in the next
eight years.
Competitive
Landscape and Key Vendors:
Asia Pacific was the largest regional
market globally. Increasing production of palm kernel and palm oil in the
region has been the primary factor driving its oleochemicals demand. The
rapidly increasing capacity for palm production in this region along with its
strong and developing integration of raw materials is major reason for the
reorganization of the global oleochemicals industry. The greater than before
pressure from the modern high scale and highly productive manufacturers in the
region especially on profit margins are expected to influence the global
industry. The dominate industry participants in Asia are in strategic planning
for buying the current production facilities in the U.S. and Europe.
Some of the leading industry
participants include Kuala Lumpur KepongBerhad, Ecogreen Oleochemicals, Oleon,
Godrej Industries, SABIC, Evyap, China Sanjiang Fine Chemicals, Kao Chemicals,
Vantage Specialty Chemicals, Archer Daniels Midland, Evonik Industries, Emery
Oleochemicals, Wilmar International, TerraVia, AkzoNobel, Cargill, BASF,
Eastman Chemical Company , PTT Global Chemical Public Company Limited ,
Alnor Oil Co, Inc., Berg + Schmidt , Isosciences LLC ,
Vegetable Vitamin Foods Company and MYRIANT.
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