Oleochemicals are chemicals derived from oils and fats and widely used in home and personal care products. Oleochemical fatty acid is one of the chemicals in the Oleochemicals class which is derived through hydrolysis process of oils or fats. Oleochemical fatty acid is a raw material used for the production of medium-chain triglycerides (MCTs), a plasticizer, polarizing agent, a component for disinfectant production. Besides, they are also used in waxes, candles, animal feed, cleaning components, surfactants, vulcanizing agent for rubber, manufacture of alkyd resin, water proof cements etc. The potential of oleochemical fatty acid has a wide market prospectus and it is expected that its growth will be robust during the forecast period.
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The oleochemical fatty acid is an essential ingredient necessary for various applications from personal care products to agrochemicals. The global market for oleochemical fatty acid is driven by the increasing pharmaceutical and food industry. Besides, the demand for various cosmetics, soaps and detergents in personal care segment fuels the global oleochemical fatty acid market. Good Manufacturing Practice (GMP) and Hazard Analysis and Critical Control Points (HACCP) are some of the standards required for the production of oleochemical fatty acid.
The global oleochemical fatty acid market is segmented on the basis of fatty acid obtained at the process end, fatty acid type and end user.
The global oleochemical fatty acid market is geographically divided into five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa (MEA). Asia Pacific Wilmar International Ltd. accounting one-third of Asia’s fatty acid production.
Some of the key players identified in the global oleochemical fatty acid market are Wilmar International Ltd, Emery Oleochemicals, P&G Chemicals, KLK OLEO, PT Musim Mas, CREMER, Vegetable Vitamin Foods Company Pvt. Ltd., Godrej Industries (Chemicals), 3F GROUP, etc.
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