Global Oleochemicals Market: Key Highlights
Global Oleochemicals Market: Key Market Dynamics
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Global Oleochemicals Market: Regional Overview
The Asia-Pacific is expected to dominate in the oleochemicals market during the forecasted period. This is attributed to the presence of a large number of manufacturers such as China, India, and Japan. Moreover, the easy availability of feedstock and rapid expansion of major end-use industries such as food and beverages, and others has expected to surge the demand for oleochemicals.
Europe oleochemicals market is expected to have sustainable growth during the forecasted period. This can be attributed to the strength regulation imposed against genetically modified products. For instance, according to the European Commission, imposed Regulation (EC) 1829/2003 on genetically modified food and feed with an aim to protect human and animal health and the environment, and increase the traceability.
Global Oleochemicals Market: Key Players Overview
BASF SE is one of the largest chemical producers across the globe. The group comprises of joint ventures and subsidiaries in more than 80 countries and operates six integrated production sites and 390 other production sites across the globe. In 2017, BASF SE experienced a 7% increase in sales of care chemicals. Increased prices of oleochemical surfactants and fatty alcohols reflected a positive effect on sales growth for the same year.
Wilmar International Ltd incorporated in 1991 and is Asia’s largest agribusiness group. Its business activities include oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilisers as well as flour and rice milling. In 2018, Wilmar implemented Inventure Supercritical Technology in China. This technology is aimed to produce fatty acid methyl esters for oleochemicals and also to manufacture bio-based oleochemicals.
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