DUBLIN--(BUSINESS WIRE)--The "Industrial Oils Market by Source, Type (Grade I, Grade II, Grade III), End Use (Biofuel, Paints and Coatings, Cosmetics and Personal Care Products, Pharmaceuticals), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global market for industrial oils is projected to be valued at USD 80.7 billion by 2025. The North American region is projected to grow at the highest CAGR of 5.4% during the forecast period.
The industrial oils market is projected to grow at a CAGR of 5%, in terms of value
The market is driven by the expansion of the industrial sector in the emerging countries of the Asia-Pacific, South America, and the Middle East & African regions. In the Asia-Pacific region, countries such as China and India are projected to witness significant growth due to the development of industries including paints & coatings, cosmetics & personal care, biofuels, and pharmaceuticals. This is attributed to a consistent rise in the need for sustainable & renewal energy sources driving the demand for biofuels, and thus, the demand for industrial oils. Industrial oils such as sunflower oil are gaining popularity in the cosmetics & personal care industry due to its ease of incorporation in the final product.
This industry is witnessing significant growth in the Asia Pacific region as consumers opt for grooming products in countries such as China, India, Japan, and Australia. South Korea is another country where cosmetics are popular, and their beauty trends have a significant influence on other Asian countries. Thus, the region provides a lucrative opportunity for industrial oils manufacturers.
The palm segment in the industrial oils market is estimated to account for the largest share in 2019
Based on source, the palm segment is estimated to account for the largest share in the industrial oils market in 2019. According to WWF-UK, Indonesia, and Malaysia supply over 85% of the global palm oil. Several local players offer palm oil in these countries. Sari Mas Permai (Indonesia) is one of the leading players that offer palm oil, which finds applications in the cosmetics industry. These palm oil manufacturing countries are projected to provide high growth prospects in the coming years for manufacturers in various industries both at regional and international levels.
The grade I (light) segment in the industrial oils market is estimated to account for the largest share in 2019
Based on type, the grade I (light) segment is estimated to account for the largest share in the industrial oils market in 2019. Grade I (light) industrial oils are used in applications such as cosmetics & personal care and pharmaceuticals. The cosmetics & personal care industry is witnessing significant growth in countries such as Brazil and China. This is projected to create a lucrative opportunity for industrial oil manufacturers in the coming years.
In Europe, the cosmetics industry includes leading players such as Louis Dreyfus Company (Netherlands), A&A Fratelli Parodi Spa (Italy), Soya Mills SA (Greece), and Henry Lamotte Oils GmbH (Germany) offering industrial oils. The region consists of over 500 million cosmetic and personal care product users, which include shampoos, soaps, and sunscreens. The region is also projected to be a major revenue generator for industrial oil manufacturers in the coming years.
The biofuel segment in the industrial oils market is estimated to account for the largest share in 2019
Biofuels are gaining popularity at a global level owing to lower its impact on the environment. China records the highest number of vehicles at a global level. This increase in the number is projected to further add to the problems of environmental pollution. Thus, industrial oil manufacturers are projected to witness an increase in penetration in the country in the coming years.
The Asia-Pacific industrial oils market is projected to witness significant growth
The Asia-Pacific is projected to witness significant growth attributed to the presence of key developing economies such as China, India, and Australia. These countries are witnessing major transformations in the industrial sector, which increases the sales of industrial oils. The region is the potential hub for the growth of the cosmetics & personal care industry as well. In addition, the region consists of the largest producers of palm oil, which include Malaysia and Indonesia. Thus, the Asia-Pacific is projected to be a major revenue pocket for industrial oil manufacturers in the coming years.
- Increasing Demand From the Biodiesel Sector
- Massive Industrial Growth in Asia-Pacific and the Middle East & Africa
- Price Fluctuations of Raw Materials
- High Capital Investments in Extractions
- Rising Trends of Bio-Based Industrial Oil Usage
- Rapid Adoption of Vegetable Oils in Various Industrial Applications
- New Entrants in the Market
- High Dependence on Oil Imports, Leading to the High Cost of End Products
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Industrial Oils Market, By Source
8 Industrial Oils Market, By Type
9 Industrial Oils Market, By End-use
10 Industrial Oils Market, By Region
11 Competitive Landscape
12 Company Profiles
- Bunge Limited
- Wilmar International
- Louis Dreyfus Company
- Archer Daniels Midland
- Buhler Group
- CHS Inc.
- AG Processing Inc
- A&A Fratelli Parodi S.p.A.
- Gemtek Products
- AAK Kamani Private Limited
- Soya Mills S.A.
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