According to the research report titled ‘Global Oleochemicals Market Size study, by Type (Fatty Acid, Fatty Alcohol, Methyl Ester and Others), Application (Pharmaceuticals, Personal Care & Cosmetics, Food & Beverages and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global oleochemicals market was appraised at USD 22 billion in 2019 and is speculated to be worth USD 37.80 billion by 2027, growing at 7% CAGR between 2020-2027.
 

Shifting inclination towards bio-based and environment friendly chemicals for use in industries such as food & beverages, personal care & cosmetics, pharmaceuticals and others is a key factor driving global oleochemicals market growth.
 

For the unversed, oleochemicals are derived from natural raw materials like animal fat or plants. They are sustainable and showcase very low toxicity. Moreover, scientists and consumers consider that oleochemicals are green, natural, organic, renewable, safe, and biodegradable in nature.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3793427/
 

Oleochemicals have an array of applications such as in production of soaps and detergents, lubricants, surfactants, varnishes, and pharmaceuticals and as fatty acids which will spur industry proliferation. Citing an instance, oleochemicals are combined with caustic soda, preservatives, and fragrances to produce soaps. 
 

Additionally, favorable regulations by government organizations, rising costs of petrochemical products, and shifting preference of people towards eco-friendly options will facilitate global oleochemicals market expansion in the forthcoming years.
 

While growing awareness of green chemicals and easy availability of raw materials will drive industry proliferation, fluctuations in feedstock prices will hinder worldwide oleochemicals market growth.
 

Based on type, the market is divided into methyl ester, fatty alcohol, fatty acid, and others. Speaking of application scope, the industry is bifurcated into personal care & cosmetics, pharmaceuticals, food & beverages, and others.
 

Regionally speaking, Asia Pacific held a significant portion of global oleochemicals industry share in the past year, due to surging demand for sustainable products in various end-user industries, and growing demand for bio-based polymers and fatty acids. Meanwhile, North America market is projected to grow rapidly over 2020-2027 owing to presence of leading players in the region. 
 

Key players profiled in the report are Emery Oleochemicals Sdn Bhd, Twin Rivers Technologies, Oleon NV, IOI Corporation Berhad, Chemical Associates Inc., Croda international plc, Wilmar International Limited, Procter & Gamble Company, KLK OLEO, and Musim Mas Group.