Oleochemicals are chemical compounds derived from oils, such as soybean, sunflower, corn, etc., and animal fats, including rendered fats, tallow, lard, etc. Some of the common types of oleochemicals include glycerin, fatty alcohols, methyl esters, fatty acids, etc. They are less toxic and biodegradable when compared to conventional petrochemicals. As a result, oleochemicals are utilized as supplements or raw materials across numerous industries. In line with this, they are widely used in producing biodiesel, green solvents, bioplastics, etc. Oleochemicals also act as intermediaries in the rubber, pharmaceutical, and paint sectors.
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The escalating demand for biodiesel, owing to its cost-efficiency and low levels of carbon emissions, is primarily driving the oleochemicals market. Additionally, the growing product adoption in the manufacturing of bio-lubricants, biopolymers, bio-surfactants, etc., is further catalyzing the market growth. Apart from this, the rising awareness among consumers towards the benefits of using natural ingredients-based cosmetics, baby care products, food additives, etc., is also propelling the product demand.
Moreover, the elevating usage of oleochemicals in the production of industrial lubricants, hydraulic fluids, and base oil is augmenting the global market. Besides this, the increasing product requirement in the pharmaceutical industry as thickening agents, preservatives, emollients, etc., is acting as another significant growth-inducing factor. Furthermore, the inflating investments in R&D activities in the field of metabolic engineering for producing oleochemicals using sustainable and renewable feedstocks are anticipated to fuel the oleochemicals market over the forecasted period.
Top Oleochemicals Manufacturers in the World:
1. Akzo Nobel N.V.
2. BASF SE
3. Cargill Incorporated
4. Emery Oleochemicals Group
5. Evonik Industries AG
6. Evyap Oleo
7. Godrej & Boyce Mfg. Co. Ltd.
8. Kao Corporation
9. KLK Oleo
10. Oleon NV
11. Procter & Gamble Company
12. PTT Global Chemical Public Company Limited
13. Corbion N.V.
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