The rising utilization of oil-based natural fatty acids in surfactants will impact palm kernel oil and coconut oil based natural fatty acids market dynamics considerably. These acids are used as hydrophobes in surfactants, driven by the fact that they have a natural existence and are extremely versatile. With a CAGR projection of 4.5% over 2016-2024, palm kernel oil and coconut oil based natural fatty acids industry is expected to generate a revenue of more than USD 8 billion by 2024.
Of late, the demand for natural and organic beauty products has significantly increased, pertaining to their numerous benefits. In consequence, the increasing per capita incomes of people across the emerging economies coupled with the rising popularity of natural cosmetics will propel palm kernel oil and coconut oil based natural fatty acids market from the personal care sector, which is set to grow at a rate of 5% over 2016-2024, having had a valuation of over USD 1 billion in 2015.
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Distilled oil based natural fatty acids are extensively used in cleansing surfactants, owing to which palm kernel oil and coconut oil based natural fatty acids industry from the detergents sector will gain remarkable traction over the coming seven years. The government has also enforced strict regulations pertaining to the maintenance of industrial cleanliness and hygiene. In addition, the rising demand for high quality, bio-based surfactants for residential and industrial cleansers will propel palm kernel oil and coconut oil based natural fatty acids market from the detergents sector, which held more than 30% of the overall share in 2015.
Countries such as India, Philippines, Vietnam, and Indonesia boast of an abundant supply of raw material, subject to which APAC is likely to lead palm kernel oil and coconut oil based natural fatty acids industry, having held more than 50% of the global revenue in 2015. Furthermore, this region houses numerous oleochemical manufacturing industries that help produce excellent quality, natural, and organic detergents, soaps, and other products, which will spur APAC palm kernel oil and coconut oil based natural fatty acids market, estimated to grow at a CAGR of 5% over 2016-2024.
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Europe palm kernel oil and coconut oil based natural fatty acids industry will primarily earn revenue via personal care applications. Having been valued at USD 1 billion in 2015, this regional market will grow at a rate of more than 4% over 2016-2024, driven by the surging demand for highly organic, safe, and effective skin and hair care products.
The top five companies operating in global palm kernel oil and coconut oil based natural fatty acids market hold more than 50% of the overall revenue share. This industry is fiercely competitive, with major companies trying to establish their presence across multiple regions. Major players of palm kernel oil and coconut oil based natural fatty acids market include Musim Mas Holdings, Emery Oleochemicals, Wilmar International, P&G, Pacific Oleochemicals Sdn Bhd, OLEON, Kao Corporation, KLK Oleo, and Chemical Associates Inc.
Browse key industry insights spread across 105 pages with 89 market data tables & 11 figures & charts from the report, “Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market Size by End-user (Detergents, Personal Care, Plastics, Rubber), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
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