Oleochemicals Market to Benefit from Favourable Government Policies for Bio-based Chemicals | Technavio

October 5, 2017

LONDON–(BUSINESS WIRE)–#Research–According to the latest market study released by Technavio,
the global oleochemicals market is expected to grow at a CAGR of more
than 6% during the forecast period.

This research report titled ‘Global
Oleochemicals Market 2017-2021’ provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This report also
includes an up to date analysis and forecasts for various market
segments and all geographical regions.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty
chemicals research, “The global market for oleochemicals is
witnessing strong growth owing to increasing demand for sustainable and
biodegradable chemicals. They are inexpensive and eco-friendly, which
makes them a favorable substitute to traditional petrochemicals for
lubricants and polymers.”

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The market research analysis categorizes the global oleochemicals market
into five major product segments. They are:

Fatty acids
Fatty alcohol
Glycerol
Fatty amines
Others

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Global oleochemical market by fatty acids

Fatty acids are one of the basic oleochemicals. They are derived from
triglycerides or phospholipids. On metabolism, they yield a large amount
of adenosine triphosphate. Animal fats and vegetable fats are a rich
source of fatty acids. Fatty acids are popularly used as an inactive
ingredient in pharmaceuticals, as lipid formulation, fat emulsion, and
liposomes as well as in soaps.

Global oleochemical market by fatty alcohol

Fatty alcohols are derived from natural fats and oils. These are
aliphatic alcohols such as lauryl, stearyl, behenyl, cetyl, cetostearyl,
and oleyl alcohols. Naturally, these are found in waxes. Waxes are
nothing but esters, which contain fatty acids and fatty alcohol. In
animal fat, fatty alcohols are found in whale oil. The main feedstock of
fatty alcohols is vegetable oil. Fatty alcohols can be saturated,
unsaturated, or branched.

Global oleochemical market by glycerol

Glycerol is obtained as a major co-product of lipid hydrolysis and
transesterification reactions. It is colorless, odorless, and a viscous
liquid with a sweet taste. The global oleochemicals market by glycerol
is expected to grow at a CAGR more than of 8% during the forecast period.

Global oleochemical market by fatty amines

Fatty amines are derived from C12-C18 hydrocarbons, which are derived
from fatty acids. Coco amine, oleylamine, tallow amine, and soya amine
are examples of fatty amines. The temperature for primary amines is
high, and the pressure for secondary amines is low. These are further
converted to tertiary amines. Amine oxides are made from tertiary amine
and hydrogen peroxide. Nitrile production is a commercial method to
produce fatty amines.

Global oleochemical market by other types

The other products types include fatty methyl ester (also known as fatty
acid methyl esters) and surfactants. Fatty methyl esters are used in
intermediates and biodiesel. They are produced from oil, through
methanolysis, using alkaline catalysts. They consume less energy and are
less corrosive. They are easier to distill and are superior to fatty
alcohols in some reactions. Surfactants also come under oleochemical
products. Alkyl glyceryl sulfonate is a surfactant that is produced by
Procter & Gamble Chemicals. It has applications in personal care
products.

“With stringent environmental regulations, there has been a growing
demand for oleochemicals. There have been favorable government policies
such as financial incentives as well as tax benefits for manufacturers
engaged in the production of bio-based chemicals. This is anticipated to
drive the growth of the global oleochemicals
market,” says Shakeel.

The top vendors highlighted by Technavio’s market research analysts in
this report are:

BASF
Cargill
Emery Oleochemicals
Kuala Lumpur Kepong Berhad
Procter & Gamble
Wilmar International

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