Market Overview
The Global Specialty Oleochemical Market size is expected to be valued at
USD 25.5 Billion in 2023, and it is further anticipated to reach a market
value of USD 48.8 Billion by 2032 at a
CAGR of 7.5%.
Oleochemicals are substances that are derived from fats and oils, which are used as an essential ingredient in the production of various products & applications. The specialized chemical compounds are derived from natural fats & oils that are obtained from plant-based and animal-based resources. Specialty oleochemicals are manufactured through enzymatic & chemical processes and reactions. Some prominent examples of oleochemical compounds that are extensively used are sugar ester, structured triacylglycerol, ammonium salts, MAG (monoacylglycerol) alcohol ethoxylates & alcohol sulfate.
The specialty oleochemicals are used in different sectors like pharmaceutical, personal care and more. The growing awareness & concerns about plastic-based products have triggered the market to focus on sustainable and eco-friendly bio-based alternatives. So, the demand for bio-polymers is expected to grow further in the upcoming future.
Market Dynamic
The growth dynamics of the Global Specialty Oleochemical Market are influenced by various factors that affect its development & growth. In this market, the growth is driven by the growing demand for sustainable and bio-based eco-friendly products. Increasing awareness about environmental issues is shifting the trend toward bio-based material which is increasing the demand for specialty oleochemicals, which are derived from natural sources.
The other growth driver would be the government regulations that promote the use of sustainable & renewable resources in manufacturing and encourage the adoption of specialty oleochemicals. The demand for biodegradable material is increasing because of growing restrictions on petrochemical products and this will be going to show a positive effect in the future.
However, the restraints that are affecting this market are the fluctuations in the raw material prices that affect the demand & supply as well as the manufacturing process. As the issue of
food security is growing the prices of vegetable oils are also increasing and it shows a negative impact on the finances. Advancements in the production process including enzyme technologies and chemical reactions enhance the product quality & efficiency of manufacturing. The global specialty oleochemical market will continue to evolve, driven by factors like sustainability, regulatory support & innovation.
Research Scope and Analysis
By Product
Based on product segmentation, the Global Specialty Oleochemicals Market is divided into Specialty Esters, Glycerol Esters, Fatty and methyl Esters, Alkoxylates and Fatty Amines. In this segment, it is expected that the glycerol esters will dominate the Global Specialty Oleochemicals Market by holding the highest revenue share of 35.7% in 2023. The reason for the growth of this segment will be attributed to its rising use in the personal care, cosmetic and food & beverage industries because of its chemical composition. The glycerol esters are also known as glycerides & acylglycerols because they are formed because of a chemical reaction between fatty acids & glycerol. The food grade glycerol is used in the manufacturing process of food products like chewing gums, ice cremes & flavoured beverage products.
As for the special esters they are popular because in some industries they are used as the replacement of the products & compounds made up of petroleum. The reason the special ester segment holds a major segment of the market is because of its increasing demand in the automobile industry. It is used as a lubricant that gives the vehicle high lubricity, good oxidative stability & low volatility.
Additionally, as the demand for environment-friendly, sustainable, organic & natural self-care products is increasing, the specialty oleochemical market is also anticipated to grow. Another factor to its demand will be its participation in the food & beverage industry.
By Application
Based on the application Global Specialty Oleochemicals Market is segmented into Personal Care and Cosmetics, Consumer Goods, Food Processing, Textiles, Paints and inks, Industrial and
Healthcare and
Pharmaceuticals. In this segment, the personal care & cosmetic application segment holds the highest revenue share of 22.6% in 2023. The reason behind the hold of this segment on the market can be attributed to the de use of specialty oleochemicals in anti-ageing and organic products which are very popular among consumers. Even if this segment holds a large share of the market, it has growth potential that can enhance its market share further as it has more opportunity due to the wide range of personal product catalogues which consists variety of products with high growth potential.
Consumer goods are one of the other major segments that is expected to hold the highest growth potential in this market the reason for the growth of this segment will be attributed to the demand for an array of items, including laundry detergents, cleaning products, hair care solutions such as shampoo & conditioner and laundry detergents. The other reason the products manufactured used specialized oleochemicals are tested & proven to cause no harm to the human body. So, these factors influence the growth of the Specialty oleochemical market further.
The Specialty Oleochemical Market Report is segmented on the basis of the following:
By Product
- Specialty Esters
- Fatty and Methyl Esters
- Glycerol Esters
- Alkoxylates
- Fatty Amines
- Others
By Application
- Personal Care & Cosmetic
- Consumer Goods
- Food Processing
- Textiles
- Paints & Inks
- Industrial
- Healthcare & Pharmaceuticals
- Polymer & Plastic Additives
Regional Analysis
The Global Specialty Oleochemical Market is dominated by the Asia Pacific region as this region holds the highest revenue share of 42.2% in 2023. This dominance can be attributed to the growing infrastructure & manufacturers in the Asian countries. This region's high population density fuels the demand for consumer goods, processed foods and personal care products, which are key sectors where specialty oleochemicals are extensively used. Another reason can be owing to the rapid urbanization and growing awareness of environmental & sustainability concerns which push consumers to opt for bio-based products. The Asia-Pacific region is a major hub which is specially influenced by beauty trends such as K-beauty trends, which have propelled the use of specialty oleochemical-based ingredients in cosmetics.
Moreover, the North American region is the second most flourished specialty oleochemical market which holds a significant share in the current market scenario after Asia-Pacific. In North America, strict rules and regulations regarding the use of petroleum-based products can cause harm to consumers. So, the demand for specialty oleochemicals has surged to replace petroleum-based products. These regulations are imposed to reduce the harmful environmental effects associated with petroleum-based products. As a result, industries in this region have turned to specialty oleochemical as it is a sustainable and environment-friendly alternative.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape of the Global Specialty Oleochemical market is characterized by the presence of manufacturers and companies that are leading this market. The competitive landscape provides insights into the key competitors.
These companies compete with each other to gain a competitive edge by offering a more diverse product catalogue which contains innovative & sustainable products. The well-established companies in this market largely invest in research and development to stay competitive and meet the upcoming trends in the market. As consumer preference has continuously shifted to sustainable products, companies that will adapt to this trend are most likely to remain in the market in the long term and they will improve their market position.
Some of the prominent players in the Global Specialty Oleochemical Market are:
- Emery Oleochemicals
- KLK Oleo
- IOI Group
- Oleon
- Evonik Industries AG
- Kao Corporation
- Vantage Specialty Chemicals
- Wilmar International ltd.
- Alnor Oil Co. Inc.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Specialty Oleochemical Market:
The Global Specialty Oleochemical Market faced many disruptions in its supply chain during the COVID-19 pandemic as the lockdown interrupted the supply chain of major raw materials. However, the outbreak of COVID-19 also helped this market grow as the demand for oleochemicals increased, specifically in the production of soap & sanitization products, as the consumer priorities shifted to essential products from personal care products. For example, Wilmar International increased its fatty amine manufacturing unit to meet the demand for disinfectants during a pandemic.
Overall, the COVID-19 pandemic changed & reshaped the oleochemical market by shifting consumers' needs, supply chain and demand. As the major companies adapt to these changes and focus on delivering sustainable products to the market they will always grow further.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 25.5 Bn |
| Forecast Value (2032) |
USD 48.8 Bn |
| CAGR (2023-2032) |
4.7% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Specialty Esters, Fatty and Methyl Esters,
Glycerol Esters, Alkoxylates, Fatty Amines and
Others), By Application (Personal Care & Cosmetic,
Consumer Goods, Food Processing, Textiles, Paints &
Inks, Industrial, Healthcare & Pharmaceuticals and
Polymer & Plastic Additives) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Emery Oleochemicals KLK Oleo, IOI Group, Oleon,
Evonik Industries AG, Kao Corporation, Vantage
Specialty Chemicals, Wilmar International ltd., Alnor
Oil Co. Inc. and other Key Players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
Oleochemicals find applications in different industries like personal care, cosmetics, pharmaceutical,
food processing & automotive industries.
The Global Specialty Oleochemical Market size is expected to be valued at USD 25.5 Billion in 2023, and
it is further anticipated to reach a market value of USD 48.8 Billion by 2032 at a CAGR of 7.5%.
The Global Specialty Oleochemical Market is dominated by the Asia Pacific region as it holds the highest
revenue share of 42.2% in 2023.
The major key players in the Global Specialty Oleochemical Market are Emery Oleochemicals KLK Oleo,
IOI Group, Oleon, Evonik Industries AG, Kao Corporation, Vantage Specialty Chemicals, Wilmar
International ltd., Alnor Oil Co. Inc. and other Key Players.