The global oleochemicals market size is anticipated to reach USD 39.43 billion by 2030 and is projected to grow at a CAGR of 7.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for oleochemicals is projected to be driven by the growing utilization of these products in various end-use industries like industrial, personal care & cosmetics, textiles, pharmaceuticals, and food processing, among others.

Growing concerns regarding the impact of petrochemicals on the environment have prompted the use of bio-based and sustainable chemicals. The industry is shifting its focus towards the development of biodegradable products and base chemicals using bio-based raw materials to reduce carbon footprint and the dependency on petrochemicals.

The presence of regulations from agencies such as REACH regarding the environmental risks related to petrochemical-based products is expected to support this trend. Oleochemicals are biodegradable in nature and have the same applications as petrochemicals. Considering the factors mentioned above, oleochemicals have been gaining prominence in polymers, surfactants, and lubricants production as a substitute for petrochemicals. 

Oleochemicals Market Report Highlights

• Fatty Acid Methyl Ester is expected to witness the fastest CAGR of 8.7% over the forecast period. FAME is used for the production of biodiesel and detergents and is superior to conventional fossil fuel in terms of its sulfur content, carbon emission, and biodegradability. In addition, the direct transformation of extracted microbial lipids into fatty acid methyl ester can reduce the cost of biodiesel production. FAME is also used as an alternative to motor fuel since it is characterized by properties similar to those of biodiesel. Thus, the growth of fatty acid methyl ester is directly dependent on the demand for biodiesel.

• Personal care & cosmetics end use is expected to witness the fastest CAGR of 7.8% over the coming years. The growing demand for organic and anti-aging products to maintain a youthful appearance is driving the demand for personal care products, which, in turn, is expected to trigger the demand for oleochemicals derivatives in personal care & cosmetics application segment.

• Asia Pacific is expected to witness the fastest growth of 7.7% over the forecast period owing to rapid technological advancements, the presence of large pharmaceutical and food & beverages industries, changing consumer preferences & trends, and the global market presence of some of the key manufacturing companies. Companies such as Kuala Lumpur Kepong (Malaysia), Wilmar (Indonesia), Musim Mas (Indonesia), Kao Corporation (Japan), and China Sanjiang Fine Chemicals (China) are likely to set up new fatty alcohol plants in Asia in the forthcoming years, further driving the market growth in the region.

• The key players in the U.S. market include Vantage Specialty Chemicals, Emery Chemicals, Evonik Industries, and Kao Chemicals. These companies dominate the global market with a substantial presence throughout the value chain.

• In April 2023, KLK Oleo completed the acquisition of Temix Oleo. The company’s acquisition is aligned with its strategy to diversify its product portfolio and increase its market share across regions.
 

Browse through Grand View Research's Renewable Chemicals Industry Research Reports.

• The global biochar market size was estimated at USD 541.8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2030. 

• The global molded pulp packaging market size was estimated at USD 5.45 billion in 2023 and is expected to grow at a CAGR of 7.4% from 2024 to 2030.

Oleochemicals Market Segmentation

Grand View Research has segmented the global oleochemicals market based on product, application, and region:

Oleochemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• Specialty Esters
• Fatty Acid Methyl Ester
• Glycerol Esters
• Alkoxylates
• Fatty Amines
• Other Products

Oleochemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• Personal Care & Cosmetics
• Consumer Goods
• Food Processing
• Textiles
• Paints & Inks
• Industrial
• Healthcare & Pharmaceuticals
• Polymer & Plastic Additives
• Other Applications

Oleochemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
o The Netherlands
o Russia
o Switzerland
o Poland
o Sweden
o Belgium
• Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Singapore
o Indonesia
o Taiwan
o Australia
o Thailand
• Central & South America
o Brazil
o Argentina
• Middle East and Africa
o Saudi Arabia
o South Africa
o UAE 

Order a free sample PDF of the Oleochemicals Market Intelligence Study, published by Grand View Research.