Oleochemicals Market to Benefit from Favourable Government Policies for Bio-based Chemicals | Technavio

Technavio has published a new report on the global oleochemicals market from 2017-2021. (Graphic: Business Wire)

LONDON--()--According to the latest market study released by Technavio, the global oleochemicals market is expected to grow at a CAGR of more than 6% during the forecast period.

This research report titled ‘Global Oleochemicals Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty chemicals research, “The global market for oleochemicals is witnessing strong growth owing to increasing demand for sustainable and biodegradable chemicals. They are inexpensive and eco-friendly, which makes them a favorable substitute to traditional petrochemicals for lubricants and polymers.”

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The market research analysis categorizes the global oleochemicals market into five major product segments. They are:

  • Fatty acids
  • Fatty alcohol
  • Glycerol
  • Fatty amines
  • Others

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Global oleochemical market by fatty acids

Fatty acids are one of the basic oleochemicals. They are derived from triglycerides or phospholipids. On metabolism, they yield a large amount of adenosine triphosphate. Animal fats and vegetable fats are a rich source of fatty acids. Fatty acids are popularly used as an inactive ingredient in pharmaceuticals, as lipid formulation, fat emulsion, and liposomes as well as in soaps.

Global oleochemical market by fatty alcohol

Fatty alcohols are derived from natural fats and oils. These are aliphatic alcohols such as lauryl, stearyl, behenyl, cetyl, cetostearyl, and oleyl alcohols. Naturally, these are found in waxes. Waxes are nothing but esters, which contain fatty acids and fatty alcohol. In animal fat, fatty alcohols are found in whale oil. The main feedstock of fatty alcohols is vegetable oil. Fatty alcohols can be saturated, unsaturated, or branched.

Global oleochemical market by glycerol

Glycerol is obtained as a major co-product of lipid hydrolysis and transesterification reactions. It is colorless, odorless, and a viscous liquid with a sweet taste. The global oleochemicals market by glycerol is expected to grow at a CAGR more than of 8% during the forecast period.

Global oleochemical market by fatty amines

Fatty amines are derived from C12-C18 hydrocarbons, which are derived from fatty acids. Coco amine, oleylamine, tallow amine, and soya amine are examples of fatty amines. The temperature for primary amines is high, and the pressure for secondary amines is low. These are further converted to tertiary amines. Amine oxides are made from tertiary amine and hydrogen peroxide. Nitrile production is a commercial method to produce fatty amines.

Global oleochemical market by other types

The other products types include fatty methyl ester (also known as fatty acid methyl esters) and surfactants. Fatty methyl esters are used in intermediates and biodiesel. They are produced from oil, through methanolysis, using alkaline catalysts. They consume less energy and are less corrosive. They are easier to distill and are superior to fatty alcohols in some reactions. Surfactants also come under oleochemical products. Alkyl glyceryl sulfonate is a surfactant that is produced by Procter & Gamble Chemicals. It has applications in personal care products.

“With stringent environmental regulations, there has been a growing demand for oleochemicals. There have been favorable government policies such as financial incentives as well as tax benefits for manufacturers engaged in the production of bio-based chemicals. This is anticipated to drive the growth of the global oleochemicals market,” says Shakeel.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • BASF
  • Cargill
  • Emery Oleochemicals
  • Kuala Lumpur Kepong Berhad
  • Procter & Gamble
  • Wilmar International

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global oleochemicals market is expected to grow at a CAGR of more than 6% until 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com