Oleochemicals Market Executive Summary, Dynamics, and Technology Overview By 2028
Oleochemicals Industry Overview The global oleochemicals market size was valued at USD 19.46 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.57% from 2021 to 2028. Rising consumption of renewable, sustainable, and bio-based chemicals in personal care & cosmetics, food & beverages, pharmaceuticals, and other industries is anticipated to drive the product demand over the forecast period. Moreover, the high costs of petrochemical products and shifting preference for eco-friendly products will boost the product demand further. The consumption of oleochemicals in the form of fatty acids, used for the production of soaps and detergents, surfactants, lubricants, varnishes, and pharmaceuticals, is also expected to propel the market growth over the coming years. Some of the basic 0leochemicals products include specialty esters, glycerol esters, alkoxylates, and others among which specialty esters represent one of the larges...