SAN FRANSISCO – Driven by rapid growth in various end-user industries including personal care, food additives, surfactants, and pharmaceuticals, the global market of oleochemicals is expexted to reach US$30.03 billion by 2020, according to a new study by Grand View Research Inc.
Increasing demand for bio-based products from various end-use industries is expected to remain a key driving factor for the global oleochemical market.
Cited from Business Standard, Global oleochemicals market is moderately concentrated with top four companies accounted for over 55% of the total market. Oleochemicals market witnessed a large number of mergers and acquisitions and there are significant opportunities for the market occupants to introduce diversified products to sustain market growth.
Top oleochemicals market players include ADM, Akzo Nobel, BASF Cognis, Cargill, Emery Oleochemicals, Evonik, Oleon, KLK Malaysia and Wilmar International. (T4)
