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The Global Oleochemicals Market Is Expected To Witness High Growth Owing To Increasing Demand For Non-Edible Application Of Fatty Acid

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Pooja Khodke
The Global Oleochemicals Market Is Expected To Witness High Growth Owing To Increasing Demand For Non-Edible Application Of Fatty Acid

This market provides important products that meet key needs. These products have advantages. The global market is estimated to be valued at a large amount in 2023 and is expected to grow at a meaningful rate over the forecast period, as highlighted in a recent report.

Market Key Trends:

The global oleochemicals market is segmented into type and application. Based on type, the fatty acid segment dominated the market in 2022 and is estimated to witness high growth during the forecast period. This is owing to increasing demand for non-edible application of fatty acid such as lubricants, corrosion inhibitors, surfactants, and emulsifiers. Based on application, the soap & detergent segment accounted for the largest market share in 2022. Soap & detergent industry utilizes oleochemicals such as fatty acids and methyl esters in production of laundry detergents, powder detergents, and dish washing liquids.

Key Takeaways

The Global Oleochemicals Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. Regional analysis related content comprises Asia Pacific region is currently the fastest growing and dominating region in the global oleochemicals market. This is attributed to presence of major oleochemical producers and growing end use industries such as soap & detergent, pharmaceutical, and personal care industries especially in China, India, Indonesia, and Malaysia.

Key players operating in the oleochemicals market are Vantage Specialty Chemicals, Inc., Emery Oleochemicals, Evonik Industries AG, Wilmar International Ltd., Corbion N.V, Cargill, Incorporated. Vantage Specialty Chemicals, Inc. and Wilmar International Ltd. are the leading players in the market owing to their wide product portfolio and global presence.



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https://www.insightprobing.com/the-global-oleochemicals-market-driven-by-growing-use-in-various-industries/

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