Global Market for Oleochemicals Expected to Reach USD 26.8 billion by 2031, Registering a CAGR of 6.3%: TMR study

Wilmington, Delaware, United States, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global oleochemicals market was estimated to have acquired a market valuation of around US$ 26.8 billion in 2022. The market is likely to grow with a steady 6.3% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 46.4 billion .

Oleochemicals are a greener and more ecologically friendly alternative to petrochemicals since they are made from renewable resources like vegetable oils as well as animal fats. Oleochemicals are biodegradable and spontaneously decompose in the environment, causing less pollution and causing less environmental impact. This quality is highly sought in sectors looking for eco-friendly goods and solutions. The market value of oleochemicals is being driven by the increase in demand for eco-friendly alternatives to petroleum-based chemicals.

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Oleochemicals typically emit less pollutants and degrade quickly, which reduces pollution and aids in the fight against climate change. They are a good option for companies trying to enhance their environmental performance because of this advantage.

Global Oleochemicals Market: Key Players The global oleochemical market is tightly concentrated globally, with the bulk of the market share held by a small number of large multinational oleochemical corporations. There are many smaller firms who serve specialized markets and applications, even as a small number of big players dominate several industries and geographical areas.

Sulzer, Arkema, Emery Oleochemicals, Procter & Gamble Chemicals, Evonik Industries AG, SABIC, Vantage Specialty Chemicals, Inc., Wilmar International Ltd., Kao Chemicals Global, Ecogreen Oleochemicals, Cargill, Incorporated, Oleon NV, Godrej Industries, IOI Corporation Berhad, KLK OLEO, and JNJ Oleochemicals, Incorporated are key players in the oleochemicals market.

Some developments by the key players in the global market for oleochemicals are:

Key Findings of the Market Report

Oleochemicals Market Trends

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Oleochemicals Market Regional Outlook

Global Oleochemicals Market Segmentation By Source

By Grade

By Form

By Product

By End- U se

By Region

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