- The key vendors in the global oleochemicals market 2015-2019 are Cargill, Emery Oleochemicals, Evonik Industries, Evyap, Godrej & Boyce, Myriant, P&G, and PTT Global Chemical.
London, 9 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global oleochemicals market 2015-2019. The growing preference for green substitutes is a key trend observed in this market. Recent change in the consumers’ preference is raising concerns as to what is used in the products they purchase. Many sulphonate-based industries are now switching to bio-based chemicals such as methyl esters, which are further processed to obtain products that are healthy and environmentally friendly. The global oleochemicals market is expected to grow at a CAGR of 4.00% by volume and 5.95% by value during the forecast period of 2014-2019.
Rising demand from end-user industries facilitate growth in this market. Easy availability of raw materials is another factor that promotes growth in this market. High popularity of oleochemicals can be attributed to the increased awareness of green chemistry and growing concerns about environmental pollution. This growing concern is forcing consumers to adopt products made from bio-based chemicals. This shift in preference augments growth in the global oleochemicals market.
“The existing processes of producing oleochemicals involve methods in which there has been a trend of energy wastage as well as that of water wastage. With the recent technological advancements in terms of upgraded processes for production, not only will costs be cut but also there will be increases in productivity,” says Faisal Ghaus, Vice President of Technavio Research.
“With the passage of time, there will be a scarcity of available resources and to have a huge global market fully dependent on the usage of energy and water is not in the interest of the masses. The population growth will require efficient processes in which optimal quantities of energy and water are used.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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