Specialty Oleochemicals Market in the US 2017-2021

Overview of the specialty oleochemicals market in the US

Government and regulatory bodies such as FDA and United States environmental protection agency (US EPA) are concerned by the environmental damages that are caused by petroleum-based raw materials. This compelled them to set rules and regulations in various companies that use these raw materials in their production process. Technavio’s market research report identifies that the introduction of such stringent government regulations will be one of the primary growth drivers for the specialty oleochemicals market in the US till 2021. The availability of loans for bio-related and renewable chemicals in the US has been made easy by introducing the farm bill. In addition, the US EPA is also supporting the market for ethanol and other renewable fuels such as specialty oleochemicals by introducing renewable fuel standards (RFS). The evaluation of risks involved in the application of existing and new chemicals is carried out through toxic substances control act (TSCA) and the pollution prevention act. Technavio’s market research analysts predict that the US specialty oleochemicals market will grow at a CAGR of almost 5% by 2021.

One of the key trends that will boost the growth of the US specialty oleochemicals market size in the forthcoming years is the rising efforts towards the reduction of volatile organic compounds (VOC) into the atmosphere. To achieve this, Federal, state, and local regulations are initiating many regulations such as the national volatile organic compound emission standards and standards of performance for polymeric coating of supporting substrates facilities.

Competitive landscape and key vendors

The specialty oleochemicals market in the US is characterized by the presence of several players. The rising focus of these vendors on meeting the environmental regulations and access to raw materials will strengthen the competitive scenario of the market. Additionally, they are also looking for low-cost production methods to produce chemicals at an industrial scale by investing heavily in research and developmental activities.

Key vendors in this market are -

• Emery Oleochemicals
• Evonik Industries
• Kao Corporation
• Vantage Specialty Chemicals
• Wilmar International

Other prominent vendors in the market include Amyris, Cailà & Parés, Cargill, Croda International, Evyap-Oleo, Godrej Industries, P&G Chemicals, PMC Group, and Prod'Hyg.

Segmentation by product and analysis of the specialty oleochemicals market in the US

• Fatty acid methyl esters
• Fatty amines
• Alkoxylates
• Glycerol esters
• Specialty esters

Specialty esters are extensively used in various end-user industries such as food packaging, medical devices, construction, automotive, paints and coatings, and ink for various applications such as plasticizers, lubricants, and coalescing agents. The specialty ester segment will continue to grow during the projected period due to the rising demand for specialty esters in end-user industries that highly require materials for bonding, coatings, and additives.

Segmentation by application and analysis of the specialty oleochemicals market in the US

• Polymers and plastics additives
• Textiles
• Healthcare and pharmaceuticals
• Consumers goods
• Food processing
• Paints and ink
• Personal care and cosmetics
• Industrial

The increasing expenditure of the millennials on pigmented cosmetics and skin care products will boost the growth of the personal care and cosmetics sectors. The rising demand for sensitive skin products is also driving the adoption of bio-based skin care products. This in turn, will propel the growth prospects of the personal care and cosmetics industry 2021, in turn, driving the demand for specialty oleochemicals from this sector.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the specialty oleochemicals market in the US?
• What are the key market trends impacting the growth of the specialty oleochemicals market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the specialty oleochemicals market in the US?
• What are the market opportunities and threats faced by the vendors in the specialty oleochemicals market in the US?
• What are the trending factors influencing the market shares of the US?
• What are the key outcomes of the five forces analysis of the specialty oleochemicals market in the US?

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