The Palm Oil-based Oleochemicals Market Size is valued at USD 5.23 billion in 2023 and is predicted to reach USD 7.02 billion by the year 2031 at a 3.88% CAGR during the forecast period for 2024-2031.
Palm oil-based oleochemicals are chemical components derived from crops, vegetables, and livestock lipids that are utilized as raw materials in many different industries, including the packaging, silicone, grease, medicine, and dietary sectors. The main process for turning oils and fats from plants and animals into oleo compounds is hydrolyzed. They are extensively utilized in strands and cosmetics. The oleochemicals industry is predicted to increase as a result of consumers' increasing desire for responsive and non-toxic components in skincare and aesthetics. Furthermore, makers of beauty and personal hygiene products are adopting more environmentally friendly practices, which is driving up demand for oleochemicals. Therefore, there is a growing desire for sustainable and affordable energy sources, which is driving up the use of discarded plant oils and propelling the expansion of the palm oil-based oleochemicals market.
However, the main obstacles to the widespread use of palm oil-based oleochemicals are the increased expenses of instrument deployment and associated manufacturing. However, an inadequate economy will probably hinder the expansion of the global market. Additionally, it is predicted that changes in pricing for basic materials may present difficulties for the market for oil-based oleochemicals. Because of the stringent restrictions and social distancing measures implemented to control the virus's transmission, the COVID-19 pandemic had a detrimental effect on the industry for oil-based oleochemicals. The market for oil-based oleochemicals manufacturing was impacted by the unstable economy, complete lockup, company closures, and low optimism among consumers. During the pandemic, there were delays in logistical activities and disruptions to the distribution system.
The palm oil-based oleochemicals market is segmented based on type, processing method, and end-use industry. Based on type, the market is segmented into fatty acids, fatty alcohols, glycerol, fatty esters, alkyl polyglucosides, amides, sorbitan esters, and others. By processing method, the market is segmented into fractionation, hydrolysis, hydrogenation, transesterification, distillation, crystallization, and others. By end-use industry, the market is segmented into personal care and cosmetics, food and beverage, pharmaceuticals, home care, industrial and institutional cleaning, lubricants and greases, plastics and polymers, textiles, and agrochemicals.
The fatty acid palm oil-based oleochemicals category is expected to lead a major global market share in 2023. Fatty acids are an essential starting point for the production of many downstream compounds used in a variety of sectors, such as petroleum, elastic materials, toiletries, and pesticides. Due to their unique qualities, such as lubricants, fatty alcohols are utilized in medications and aesthetics.
The agrochemicals segment is projected to grow rapidly in the global palm oil-based oleochemicals market. Agrochemicals can improve an organism's nutritional status, vegetative development, blooming, and fruit establishment. By giving crops vital nutrients, shielding them from diseases and pests, and enhancing cultivation circumstances, agrochemicals assist producers in producing greater profits, especially in countries like the US, Germany, the UK, China, and India.
The North American palm oil-based oleochemicals market is expected to register the very large revenue share in the market in the near future. This can be attributed to the severe regulations controlling the application of ecological principles and the growing need for goods made from plants. Furthermore, the nation's market is anticipated to be driven by the expanding chemical industry in the United States. In addition, Asia Pacific is projected to get advanced rapidly in the global palm oil-based oleochemicals market due to the area's substantial availability of raw materials. It is projected that the area's market will expand as more people choose greener options and as ingredients grow easier to obtain.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 5.23 Bn |
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Revenue Forecast In 2031 |
USD 7.02 Bn |
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Growth Rate CAGR |
CAGR of 3.88% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Processing Method, And End-Use Industry |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
KLK OLEO, IOI Oleochemical, Wilmar International Ltd., Emery Oleochemicals, Oleon NV, BASF SE, PT. SUMI ASIH, P&G Chemicals, Cargill, Incorporated, Godrej Industries Limited, and Galaxy Surfactants. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Palm Oil-based Oleochemicals Market Snapshot
Chapter 4. Global Palm Oil-based Oleochemicals Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type & Market Share, 2023 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Type:
5.2.1. Fatty Acids
5.2.2. Fatty Alcohols
5.2.3. Glycerol
5.2.4. Fatty Esters
5.2.5. Alkyl Polyglucosides
5.2.6. Amides
5.2.7. Sorbitan Esters
5.2.8. Others
Chapter 6. Market Segmentation 2: By Processing Method Estimates & Trend Analysis
6.1. By Processing Method & Market Share, 2023 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Processing Method:
6.2.1. Fractionation
6.2.2. Hydrolysis
6.2.3. Hydrogenation
6.2.4. Transesterification
6.2.5. Distillation
6.2.6. Crystallization
6.2.7. Others
Chapter 7. Market Segmentation 3: By End-use Estimates & Trend Analysis
7.1. By End-use & Market Share, 2023 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By End-use:
7.2.1. Personal Care and Cosmetics
7.2.2. Food and Beverage
7.2.3. Pharmaceuticals
7.2.4. Home Care
7.2.5. Industrial and Institutional Cleaning
7.2.6. Lubricants and Greases
7.2.7. Plastics and Polymers
7.2.8. Textiles
7.2.9. Agrochemicals
Chapter 8. Palm Oil-based Oleochemicals Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.1.2. North America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Processing Method, 2024-2031
8.1.3. North America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031
8.1.4. North America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.2. Europe
8.2.1. Europe Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.2.2. Europe Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Processing Method, 2024-2031
8.2.3. Europe Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031
8.2.4. Europe Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.3.2. Asia Pacific Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Processing Method, 2024-2031
8.3.3. Asia Pacific Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031
8.3.4. Asia Pacific Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.4. Latin America
8.4.1. Asia Pacific Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.4.2. Latin America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Processing Method, 2024-2031
8.4.3. Latin America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031
8.4.4. Latin America Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.5.2. Middle East & Africa Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by Processing Method, 2024-2031
8.5.3. Middle East & Africa Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031
8.5.4. Middle East & Africa Palm Oil-based Oleochemicals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. KLK OLEO
9.2.2. IOI Oleochemical
9.2.3. Wilmar International Ltd.
9.2.4. Emery Oleochemicals
9.2.5. Oleon NV
9.2.6. BASF SE
9.2.7. PT. SUMI ASIH
9.2.8. P&G Chemicals
9.2.9. Cargill, Incorporated
9.2.10. Godrej Industries Limited
9.2.11. Galaxy Surfactants
9.2.12. Croda International Plc
9.2.13. Stepan Company
9.2.14. Meade-King, Robinson & Co Ltd.
9.2.15. Innospec
9.2.16. NiMAC LTD
9.2.17. Other Prominent Players
Palm Oil-based Oleochemicals Market By Type
Palm Oil-based Oleochemicals Market By Processing Method
Palm Oil-based Oleochemicals Market By End-use
Palm Oil-based Oleochemicals Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
