Exciting Times Ahead: All Signs Point to Growth for the Oleochemicals Market

Palm oil is a key vegetable oil that is a natural source for oleochemicals

At the onset of 2024, the global oleochemicals market is set to begin another significant period of growth.

According to a recent Straits Research report published by GlobeNewswire, the oleochemicals market is expected to reach a value of more than $53 billion by 2031, powered by a compound annual growth rate (CAGR) of 7.2% over the next eight years.

The key to the expected growth is the abundance of raw materials.

Oleochemicals Overview and Market Focus

The sources for oleochemicals include animal fats and vegetable oils – the latter being derived primarily from palm, soybean, and coconut. These sources are obtainable in several regions of the planet. Oleochemicals are the compounds derived from these sources through processes like hydrolysis and alcoholysis where they are formed into the following key ingredients:

  • Fatty acids
  • Fatty alcohols
  • Methyl esters
  • Glycerol

Among these, fatty acids are the dominant product with an anticipated CAGR of nearly 6% through 2031. Altogether, these oleochemical compounds are extremely versatile and are used to make numerous products for everyday life such as soap, toothpaste, cosmetics, food additives, pet treats, industrial cleaners, and much more.

In recent years, there has been an ever-increasing focus on sustainability, responsibility, and safety, with no signs of letting up.

Because of the wide availability of the natural source material, plus an increasing demand for green chemicals, and soaring consumer education about renewable oleochemicals, the market is being driven to new, more responsible heights.

With a focus on using fewer hazardous substances and preventing harm to the environment, businesses are developing safer products for use in multiple industries.

What Does This Mean for Oleochemical Suppliers?

Packaging and delivering products in the safest, most thorough methods possible – including developing strategic ways to navigate supply chains – is more important than ever. This level of care in product handling and supply services will only help to facilitate both the product manufacturing and the overall oleochemicals market growth.

Here at Cremer North America, we always take the extra steps to meet our customers’ unique requests for each product no matter how they need it. Our team of experts provides safe, responsible packaging, transloading, logistics, and supply chain services that meet all regulations and ensures each order is fulfilled with fast lead times and in the right quantities.

From one pallet to a packed rail car, we are the accountable oleochemical supplier you can rely on.

Learn more about our oleochemical services and product roster at cremerna.com/services.

To place orders, request samples, or talk with our product experts, contact us.

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