The global oleochemicals market size is expected to reach USD 52.04 billion by 2028, exhibiting a CAGR of 6.4% between 2021 and 2028. The growing emphasis on natural oils & fats obtained from living feedstock, including plants, animals, and oilseeds, will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Oleochemicals Market, 2021-2028.” The market size stood at USD 31.42 billion in 2020.

COVID-19 Impact-

The production of China's industrial firms fell by 14% in the first two months of 2020, according to statistics provided by the National Bureau of Statistics of China in 2020. The chemical industry was one of the most hit, with a 21% drop in output and a 66% drop in profit. In addition, growing limitations and issues with logistics, a paucity of staff and labor resources, and a lack of personal protective equipment all substantially influenced the production process. Continuing to produce some important feedstock chemicals for pharmaceutical uses, on the other hand, was a good move taken throughout the epidemic.

The Report Lists the Key Players in the Market:

• Cargill Inc. (Minnesota, U.S.)

• Kuala Lumpur Kepong Berhad (Perak, Malaysia)

• BASF SE (Ludwigshafen, Germany)

• Oleon N.V. (Ranst, Belgium)

• IOI Group Berhad (Putrajaya, ,Malaysia)

• Wilmar International (Singapore)

• Kao Chemicals (Tokyo, Japan)

• Twin Rivers Technologies (Massachusetts, U.S.)

• Croda Industrial Chemicals (Snaith, U.K.)

• Evonik Industries (Essen, Germany)

• Emery Oleochemicals (Selangor, Malaysia)

• Godrej Industries (Vikharoli, India)

Key Development:

September 2020: Emery Oleochemicals released its fatty acid ester product line under the brand name Emery E. These fatty esters offer good color stability, biodegradability, and low odor.

Browse Complete Report Summary: https://www.fortunebusinessinsights.com/oleochemicals-market-106250