January 14, 2019
WELLESLEY, Mass., Jan. 14, 2019 – The global oleochemical fatty acids market is expanding due to factors such as price, performance and rising consumer demand for more environmentally friendly, natural ingredients, according to BCC Research.
The global market for natural fatty acids was valued at $13.5 billion in 2018 and is expected to reach $17.5 billion by 2023 at a compound annual growth rate (CAGR) of 5.4% during the forecast period, according to the report “Oleochemical Fatty Acids: Global Markets to 2023.”
Prominent players in the market include: AAK (AAK), ABITEC Corp., Chemithon Enterprises Inc., PT. Dua Kuda Indonesia, Eastman Chemical Company (EMN), Emery Oleochemicals, Oleon, Evonik Industries AG (EVKIF), Ingevity (NGVT) and IOI Corporation Berhad (IOICORP), among many others.
“The key driver for the production of natural oils and fats is the food industry; only about 15% of the production is used by the oleochemical industry,” the report notes. “Oleochemical companies often use those raw materials that are not suitable for human consumption, but which are beneficial feedstock in non-edible oleochemicals production.”
Asia-Pacific Region Leads the Global Oleochemical Fatty Acids Market
Overall, growth in the global oleochemical fatty acids market is primarily driven by the Asia-Pacific region. Although it is slowing down economically due to the decreasing exports from China to Europe and the U.S., the domestic market share is still rising. This trend is expected to continue for years to come.
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Oleochemical Fatty Acids: Global Markets to 2023( CHM062E )
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