Global Oleochemicals Market: Snapshot
Oleochemicals are chemical compounds derived industrially from animal oil, vegetable oil, or fats. Increased use of these compounds in wide range of industries engaged in manufacturing personal care products such as soaps is thriving the oleochemicals market. Based on the product type, the market is segmented into fatty acids, glycerin, and fatty alcohols. By applications, the segmentation of this market is performed into soap and detergents, polymers, pharmaceuticals and personal care, food and beverages, and others.
An upcoming research report from TMR on the oleochemicals market is intended to give comprehensive study of important factors impacting positively or negatively on the growth of this market. Besides, it offers key information on probable growth avenues, important regions, key companies, and revenue of this market. The report offers valuable insights of the said market for the forecast period of 2019–2028.
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Global Oleochemicals Market: Growth Dynamics
Increasing use of oleochemicals in plastics, lubricants, coatings, rubbers, and paper industry is supporting the market growth. These chemical compounds have major application in manufacturing of soap and detergents. With growing worldwide population, there is increase in the demand for personal care products such as soaps. This increased demand is pushing the growth of oleochemicals market.
Oleochemicals are gaining traction due to their use in lubricants manufacturing. They possess numerous qualities such as anti?oxidant, anti?corrosive, anti?stick, anti?squawk, and anti?sludge. All these qualities support to create a high-quality lubricant. Due to presence of these qualities, there is upward curve in the demand for these chemicals by many companies involved in lubricants manufacturing. This increase in demand is driving the global oleochemicals market.
Textile industry is one of the key customers for various lubricants. There is growth in using lubricants among companies engaged in this industry. The main motive behind this shift is to avoid friction, impairment, and breakdown of machines used for cloth manufacturing. Thus, this scenario is indirectly opening new avenues for the growth of oleochemicals market.
Increasing consumer inclination to use environment-friendly products is one of the important reasons pushing the market development. Besides, increased favorable initiatives from government bodies are expected to support the market growth in the upcoming period.
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Global Oleochemicals Market: Notable Development and Competitive Analysis
Leading players in the market are making strategic moves such as collaborations and partnerships to complete various research and development activities. These initiatives are helping them to offer innovative products and maintaining their position in the global oleochemicals market. A case in point here is the partnership between Genomatica and Covestro. Through this alliance, both the firms aim to obtain sustainable growth in the market.
Due to presence of many players in it, competitive landscape for the global oleochemicals market is moderately fragmented. As a result, it is obvious that the level of competition is very intense. The list of important players in this market includes:
- Myriant
- Goldschmidt B
- Genomatica
- Gevo
- Amyris
- Metabolix
- Solazyme
- Wilmar International
- Codexis
- Emery Oleochemicals
- Evonik
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Global Oleochemicals Market: Regional Assessment
Asia Pacific is one of the principal regions with strong avenues for growth of the oleochemicals market. While the region includes emerging economies such as China and India, these countries are expected to support in vigorous development of this market during upcoming period. Main reason for this development is growing demand from pharmaceutical and manufacturing sector. At the same time, North America and Europe represent themselves as lucrative regions. They are projected to register superior demand for oleochemicals. Growing awareness toward use of environmental-friendly products is estimated to support in uptick in demand.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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