Increasing demand from end-use industries such as personal care, cosmetics, pharmaceuticals, and others will boost the Oleic Acid Market.
Sarasota, FL -- (SBWIRE) -- 07/18/2017 -- Global Oleic Acid Market: Overview
Oleic acid is a pale yellow or colorless, odorless unsaturated fatty acid. It is also known as Omega-9 and occurs naturally in sources such as vegetable and animal oils and fats. Oleic acid is used as lubricants, chemical intermediates, surfactants, detergents, emulsifiers and protective coatings, and caulks and sealants. The main end-use industries include cosmetic and personal care industries. The various use of oleic acid in various end-use industries has resulted in an increasing demand in the oleic acid market across the globe.
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Global Oleic Acid Market: Segmentation
The global oleic acid market is segmented into its sources, grade, application, end-users, and geography. On the basis of source, the market is divided into animal and plant sources. Based on grades, the market is segregated into regular, kosher, pharmaceutical, and food grades. On the basis of application, the market is categorized into chemical intermediate, surfactant, lubricating agent, emulsifying agent, and others. Based on end-users, the market gets divided into pharmaceuticals, cosmetics, food, oil and gas, rubber, and textiles. Geographical bifurcation is seen into North America, Europe, Asia-Pacific, and Rest of the World.
Global Oleic Acid Market: Growth Factors
The oleic acid market is a growing market owing to factors such as increasing demand from end-use industries such as personal care, cosmetics, pharmaceuticals, and food industries and abundant availability of oleic acid. The oleic acid is available in various grades such as kosher, food and pharmaceutical grade which influence its demand in the market. Government regulations put forth to promote maximum use of bio-based compounds during the manufacturing of products has also helped to boost the market demand for oleic acid. However, production of oleic acid may be affected due to the changing environmental conditions which may hamper the availability of natural resources. This may act as a retraining factor to the growth of the oleic acid market.
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Global Oleic Acid Market: Regional Analysis
The largest share in the oleic acid market is held by Asia Pacific. The growth in this region is influenced by the presence of large sources of natural raw materials such as vegetable fats and oils. Moreover, growing cosmetics and personal care, pharmaceutical, and food industry in this region especially in China and India, has resulted in increased demand for oleic acid. Other countries boosting the market growth of Asia Pacific include Malaysia, Thailand, and Indonesia. Following the growth in Asia Pacific is North America and Europe. To support sustainability and to promote bio-based compound use, there are various government regulations which escalate the demand for oleic acid in North American and European region. Availability of oleic acid in the kosher grade has helped to boost the growth of the market in the Latin America and Middle East and African regions.
Global Oleic Acid Market: Competitive Players
Some of the prominent companies producing oleic acid include Berg + Schmidt, Eastman Chemical Company, KLK Oleo Sdn. Bhd., VVF L.L.C., Wilmar International Limited, Emery Oleochemicals (M) Sdn. Bhd., Oleon NV, Wilmar International Ltd., and White Group Public Co. Ltd.
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Global Oleic Acid Market: Regional Segment Analysis
Middle East and Africa