Global Oleo Chemicals Market – Competitive Landscape
The market appears to be highly fragmented and competitive with the presence of several well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. They strive to develop Oleo Chemicals designed to reduce the downtime and maintenance with longer life and lower costs. The market is projected to witness fierce competition owing to the expected extensions in product and innovations.
Key Players:
Wilmar International Ltd. (Singapore), BASF SE (Germany), Procter & Gamble (US), Cargill, Incorporated (US), Eastman Chemical Company (US), Evonik Industries AG (Germany), PTT Global Chemical Public Company Limited (Thailand), Godrej Industries Limited (India), Emery Oleochemicals (US) and Arizona Chemical Company, LLC (US) are some of the prominent players operating at the forefront of the competition in the Global Oleo Chemicals Market and are profiled in MRFR Analysis.
Industry/ Innovations/ Related News:
October 12, 2017: Inventure Renewables, Inc. (US), a leading global provider of technologies required for the rapid, low-cost, high yield extraction of valuable materials, including oleochemicals and biodiesel, etc. announced the commencement of construction of a new facility in Jiangsu province, China partnering with Wilmar International Limited (S’pore), Asia’s leading agribusiness group & Oleo Chemicals manufacturer and Desmet Ballestra Group N.V. (Belgium), a leading global supplier of plants and equipment for oils, fats Oleo Chemical, surfactants and related chemical industries.
Inventure’s mixed supercritical fluid technology is being used by Wilmar already to produce FAME (fatty acid methyl esters) for Oleo Chemicals and biodiesel from a wide range of vegetable oil feedstock. Considering the expanding market for green Oleo Chemicals, this partnership is certainly going to benefit the trio a great deal.
Global Oleo Chemicals Market – Segments
The MRFR analysis is been segmented into three key dynamics for the convenience of understanding;
By Types: Fatty Acids, Fatty Alcohols, Methyl Ester, and Glycerol among others.
By Applications: Soaps & Detergents, Intermediates, Plastics, Coatings, Lubricants, Rubber, and Personal Care among others.
By Region: North America, Europe, APAC and Rest-of-the-World.
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Global Oleo Chemicals Market – Regional Analysis
Globally, the Asia Pacific region accounts for the largest market for Oleo Chemicals. Owing to the ample availability of cost-competitive raw materials and labor force required for the production of these chemicals, the APAC market is further estimated to post the highest CAGR during the forecast period, (2017 to 2023).
The demand for Oleo Chemicals is predicted to upsurge in numerous developed countries of the North America and Europe due to the high human development index (HDI) figures. However, these region perceive lack of raw material which is compelling them to import these chemicals from the South East Asian countries which, in turn, is expected to provide impetus to the market growth in the APAC region, witnessing hiked-up prices and demand for Oleo Chemicals.
Furthermore, the increasing incorporation into the end-use industries such as food & beverages and soaps & detergents is fostering the market growth in the region. Besides, the burgeoning automotive sector in some of the APAC countries such as India, China, Malaysia, Japan, and Thailand is expected to fuel the market growth in the region, observing the rising unit sales and demand for lubricants.
North America Oleo Chemicals Market is emerging as another lucrative market, following the APAC market closely. Attributing to the high consumption potential, increasing production capacities, and rising economic growth rate especially, the region is expected to witness a fabulous growth throughout the forecast period.
The augmenting demand for Oleo Chemicals and the growth in the crude oil production, especially in the US, is entitling the country as the major contributor to the market growth in the region, witnessing a significant market growth.
Europe region is too growing as one of the promising markets for oleo chemicals. Markets in some of the European countries such as Spain, Russia, France, Germany, Russia, and the UK is growing significantly owing to the extensive uptake of the product in some of the well-penetrated end-use industries and substantial investments in R&D and innovation activities. Resurging economy and the presence of major automobile manufacturers specifically in Germany are certainly some of the key driving forces propelling the market growth.
Latin American countries such as Brazil, Argentina, and Colombia are also estimated to perceive a moderate growth, with the increasing consumer spending on passenger cars and the emergence of new technologies and inventions in Oleo Chemicals.
On the other hand, Oleo Chemicals Market in the Middle East & Africa is projected to perceive a steady growth during the forecast period. The growing investments in the field, especially in some of the GCC countries such as Qatar, Oman, Saudi Arabia and the United Arab Emirates (UAE) is expected to impact the market growth in the region positively.
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