The global Oleochemicals market is witnessing growth due to the favorable government regulations for environment friendly products, recyclability of oleochemicals, increasing demand for biodegradable and sustainable products, and growing end-user industries. High growth in the pharmaceutical, cosmetics and food industries are supporting the demand for these chemicals. The distinct governments across the globe are framing regulations to encourage the consumption and production of bio-based products; thus fueling growth of the global market. Among the various applications of oleochemicals, the pharmaceuticals and personal care segment is estimated to dominate the global market in 2015.
The significant growth of the pharmaceutical, personal care, and food and beverage industries in emerging economies, such China, India, and Brazil, are creating ample opportunities for the growth of global market during the forecast period. In addition, the increasing compliance for biolubricants, biosurfactants and biopolymers is the key trend witnessed in the global market. However, the high competition from the petroleum based chemicals is the key challenge witnessed in the global market.
The oleochemicals are analogous to the petrochemicals derived from petroleum. These chemicals have potential to replace a significant portion of petrochemicals, as these are derived from the renewable resources and are environment friendly. Moreover, these chemicals have several beneficial properties, such as beneficial biological properties, and excellent surface activity, emolliency and emulsifying properties.
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