According
to a new report published by Allied Market Research, titled, Brazil and Mexico oleochemicals market by
Type and Application: Global Opportunity Analysis and Industry Forecast,
2017-2025, the Brazil and Mexico oleochemicals market was valued at $521.2
million in 2017, and is projected to reach $782.3 million by 2025, growing at a
CAGR of 5.2% from 2018 to 2025. The fatty acid segment accounted for more than
48% share of the Brazil and Mexico oleochemicals market in 2017.
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Oleochemicals
are obtained from bio-based resources, such as animal fats and plant oils, to
provide sustainable and high-performance alternatives to
petrochemical-originated products. They are used for production of solvents,
lubricants, biodiesel, and bioplastics. As the price of crude oil increases,
manufacturers prefer to switch from petrochemicals to oleochemicals, as they
are plant-based sources and serve as an economical source. Moreover,
oleochemicals are widely preferred in several applications, such as
pharmaceutical, food & beverage, soap & detergent, and others, owing to
the fact that they are biodegradable, environmental-friendly, and possess low
toxicity.
Increase
in demand for bio-degradable products and sustainable solutions and
implementation of government regulations towards the use of
environmentally-friendly products boost the demand for oleochemicals. Furthermore,
several new applications of oleochemicals, such as biopolymers, biosurfactants,
and biolubricants, which have emerged as substitutes for petroleum-based
products, are expected to offer lucrative growth opportunities for the Brazil
and Mexico oleochemicals market. However, volatile prices of raw material
restrain the growth of the market.
On
the basis of type, the market is segmented into fatty acid, fatty alcohol,
glycerol, and others. In terms of both value and volume, the fatty acid segment
dominated the Brazil and Mexico oleochemicals market in 2017, owing to their
increase in application in soap and detergent industries.
By
application, the market is segmented into pharmaceutical, cosmetics &
personal care, food & beverage, soaps & detergent, and animal feed. In
Brazil, the home care segment, which includes soaps and detergents, dominated
the market in 2017. However, the personal care & cosmetics segment is
projected to be the most attractive market during the forecast period.
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Key
Findings of the Brazil and Mexico Oleochemicals Market:
- The
fatty acid segment in the Brazilian oleochemicals market was the highest
revenue generator in 2017.
- The
Mexican fatty alcohol segment is projected to be the most lucrative market
during the forecast period.
- The
home care segment, which includes soaps and detergents, dominated the
market in 2017.
- In
terms of volume, the fatty acid segment generated the maximum revenue for
the Brazil and Mexico oleochemicals market in 2017.
- Brazil
accounted for more than 70% of the market in 2017.
The
Brazil and Mexico fatty acid market is predicted to witness major growth, owing
to increase in demand from the soap and detergent industry. Moreover, fatty
acids have a broad range of applications in several industries, such as
varnishes, detergents, paints, textile chemicals, insecticides, synthetic
rubber formulations, and rubber compounding, which fuel the demand for
oleochemicals in the Brazil and Mexico market. Furthermore, the market for
fatty acids has been experiencing growth in both the Brazil and Mexico regions,
owing to increase in consumption of fatty alcohols in surfactant-based
industries, such as cosmetics, soaps, and detergents, and personal care
products. This high consumption for fatty acids by various end-user industries
has further elevated the demand for oleochemicals. The major application of
oleochemicals has been making soaps and detergents. Lauric acid, which is used
to produce sodium lauryl sulfate and compounds, is utilized to make soaps and
detergents. Detergent surfactants are a better liquid-form solution used for
the cleaning purpose. The surfactants used in detergents are made up of oleo
chemicals, sulfurtrioxide, sulfuric acid, and petrochemical solutions. Rise in
healthcare awareness boosts the demand for soaps and detergents, as essential
sanitizing products. As a result, the demand for oleochemicals is predicted to
increase, thereby supplementing the growth of the market.
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The
companies profiled in this report are IOI Group, BRAIDO, EMERY OLEOCHEMICALS,
Musim Mas Holdings Pte. Ltd, Baerlocher GmbH, CREMER OLEO GmbH & Co. KG,
MATERIA HNOS S.A.C.I.F, Wilmar International Ltd, QUIMIC, and Godrej.
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Analytics LLP, based in Portland, Oregon. AMR offers market research reports,
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