The Oleochemicals Market Competitive Landscape: Top Players And Their Strategies, By The Business Research Company

The Business Research Company's Global Market Reports Are Now Updated With The Latest Market Sizing Information For The Year 2023 And Forecasted To 2032

LONDON, March 9, 2023 /PRNewswire/ -- As per The Business Research Company's Oleochemicals Global Market Report 20223, the global oleochemicals market size will grow from $24.7 billion in 2022 to $26.9 billion in 2023 at a compound annual growth rate (CAGR) of more than 8%. The oleochemicals market size is then expected to grow to $37.61 billion in 2027 at a CAGR of more than 8%. Going forward, favorable government initiatives, increasing focus on organic personal care products, and lower cost and sustainability of raw materials will drive the oleochemicals market growth.

The global oleochemicals market is fairly fragmented, with a large number of players. The top ten competitors in the market made up to 31% of the total market. Wilmar International Limited was the largest competitor with a 12% share of the market. Wilmar International Ltd is an agribusiness company. Its business activities include oil palm cultivation, oilseed crushing, sugar milling and refining, edible oils refining, specialty fats, biodiesel and fertilizers as well as flour and rice milling. Wilmar is headquartered in Singapore

Other major competitors in the oleochemicals market include Kuala Lumpur Kepong Berhad, Kao Corporation, BASF SE, Evonik Industries AG, IOI Group, Emery Oleochemicals, Godrej Industries, Oleon NV, and Eastman Chemicals Company.      

Learn More On The Oleochemicals Market Report – https://www.thebusinessresearchcompany.com/report/oleochemicals-global-market-report 

Major companies in the oleochemicals market are focused on increasing their online presence to lead the market. For example, in September 2022, Emery Oleochemicals, a Malaysia-based company that manufactures oleochemicals, launched new website for its eco-friendly polyols' product portfolio. featuring innovative specialty chemical solutions for coatings, sealants, adhesives, rigid foam, elastomers, and flexible foam applications.

Furthermore, companies in the specialty oleochemicals market are increasingly focusing on mergers and acquisitions to improve their financial strength and product portfolio. For example, in August 2021, Mega First Corporation, an investment holding company based in Malaysia acquired Emery Oleochemicals' Asia Pacific unit. The acquisition was in line with Mega First Corporation's talent recruitment objective that helped its plantation division's core technical capabilities when it expanded into coconuts and other agricultural produce processing. 

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The global oleochemicals market is segmented -

1. By Product: Specialty Esters, Fatty Acid Methyl Ester, Glycerol Esters, Alkoxylates, Fatty Amines
2. By Application: Personal Care & Cosmetics, Consumer Goods, Food Processing, Textiles, Industrial, Healthcare & Pharmaceuticals
3. By Sales Channel: Direct, Indirect

According to The Business Research Company's oleochemicals market outlook, the top opportunities in the oleochemicals market will arise in the fatty acid segment, soap and detergents segment, direct segment. Oleochemicals companies should focus on these segments in high growth regions which include Asia-Pacific and North America, followed by the Middle East and South America.

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