Oleochemicals Market Growth Opportunities, Type, Driving Factors by Top Key Company's by 2024

The global oleochemicals market is witnessing growth due to the favorable government regulations for environment friendly products, recyclability of oleochemicals, increasing demand for biodegradable and sustainable products, and growing end-user industries. High growth in the pharmaceutical, cosmetics and food industries are supporting the demand for these chemicals.

The significant growth of the pharmaceutical, personal care, and food and beverage industries in emerging economies, such China, India, and Brazil, are creating ample opportunities for the growth of global market during the forecast period.

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Oleochemicals are the chemicals derived from natural fat and oil from plants and animals. These are obtained by splitting triglyceride structure of fat and oils into fatty acids and glycerol.

Geographically, Asia-Pacific dominated the global market, owing to high consumption and production of oleochemicals in the region, easy availability of feedstock, and government support for bio-based products. The region is also anticipated to witness the highest growth during 2016–2022.

The oleochemicals are analogous to the petrochemicals derived from petroleum. These chemicals have potential to replace a significant portion of petrochemicals, as these are derived from the renewable resources and are environment friendly.

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The key players operating in the global Oleochemicals Market are Alnor Oil Company, Arizona Chemical Company LLC, BASF SE, Cargil Incorporated, Eastman Chemical Company, Procter & Gamble, Evonik Industries AG, Godrej Group, Emery Oleochemicals Group, PTT Global Chemical Public Company Limited, Wilmar International Ltd., and Berg+Schmidt GmbH & Co. KG.