Speciality oleochemicals market expected to reach $36.2 bn by 2027

摘要

The global speciality oleochemicals market size is projected to reach $36.2 bn by 2027,expanding at a revenue-based compound annual growth rate of 7.7%,according to a new report by Grand View Research.The fluctuating petrochemical price is one of the major factors driving the shift in the trend towards sustainable chemicals.The consumption of speciality oleochemicals is expected to rise significantly in the coming years as a consequence of increasing demand for food,pharmaceutical and personal care products.The demand for personal care products has witnessed growth due to an increase in disposable income,product innovation and high market penetration in the past few years.In recent years,the industry has witnessed various changes in manufacturing technologies and product offerings.For instance,KLK Oleo offers Palmfonate sulfonated methyl esters for use in laundry detergents.