The Global Oleochemicals Fatty Acids Market is valued at $16.4 billion and is expected to reach $30.62 billion by 2022 growing at a CAGR of 8.1% from 2014 and 2022. Some of the key drivers of the market include consumer-driven demand and recyclability. Whereas demand for food & beverages, soaps & detergents acts as opportunities for the market growth. Exposure to consumer trends is favoring markets such as cleaning, beauty and food.
Asia-Pacific held the largest share in 2013, China being the top contributor. Japan, China and India are the prominent countries with a huge demand for oleochemicals. Growing applications of oleochemicals in the soaps & detergents industry is boosting investments in the oleochemicals market. The demand for oleochemicals is rising in the pharmaceutical & personal care industry as consumers are becoming conscious about the environmental benefits and cost effectiveness offered by oleochemicals. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
Oleochemicals fatty acids market is segmented by product, by application and by geography. Depending on the products, the market is segmented into distilled fatty acids, stearic acid, polyunsaturated fatty acids, fractionated fatty acids, glycerin and fatty alcohols. Based on applications, market is categorized into food and beverages, pharmaceuticals and personal care, polymers, soaps and detergents. By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
