India Oleochemicals Market to Grow with a CAGR of 3.76% through 2029
Growing demand of oleochemicals from paints and coatings industries is
expected to drive the India Oleochemicals Market growth in the forecast period,
2025-2029.
According to TechSci Research report, “India
Oleochemicals Market- By Region, Competition, Forecast and Opportunities,
2019-2029”, the India Oleochemicals Market stood at USD1.76 billion in 2023 and
is anticipated to grow with a CAGR of 3.76% in the forecast period, 2025-2029.
The initiatives taken by government based on oleochemicals has led to favorable
market conditions for the India Oleochemicals Market. Several factors
contribute to the growth of various oleochemicals products.
The government has been actively supporting and
providing substantial funding for research and development activities in the
oleochemicals sector. These initiatives aim to not only enhance the quality,
performance, and sustainability of oleochemical products but also drive
technological advancements and foster innovation within the industry. The
Indian government, recognizing the importance of sustainable practices, has
implemented comprehensive policies and regulations that promote responsible
business practices, resource efficiency, waste management, and environmental
conservation in the oleochemicals sector. By encouraging the adoption of these
practices, the government is actively contributing to the long-term growth and
success of the industry while ensuring a positive impact on the environment and
society as a whole.
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The increasing demand for oleochemicals in the paints
and coatings industry can be attributed to their exceptional performance
characteristics. Oleochemicals, including fatty acids, glycerol, and esters,
exhibit remarkable emulsifying, stabilizing, and solubilizing properties. These
properties facilitate improved pigment dispersion, enhanced viscosity, and
overall stability and durability of paint formulations.
Moreover, the use of oleochemicals in paints and
coatings offers enhanced adhesion and flexibility, resulting in superior resistance
against weathering, cracking, and chipping. This versatility makes them
suitable for various applications, such as exterior coatings, wood finishes,
automotive paints, and industrial coatings.Furthermore, the growing emphasis on
sustainability and adherence to environmental regulations has significantly
contributed to the demand for oleochemicals in paints and coatings. With
heightened awareness about the adverse effects of volatile organic compounds
(VOCs) on human health and the environment, there has been a shift towards
low-VOC or zero-VOC formulations. Oleochemicals serve as excellent alternatives
to conventional VOC-laden solvents, binders, and additives, enabling
manufacturers to comply with stringent regulations and meet the preferences of
eco-conscious consumers.
The India Oleochemicals Market is segmented into type,
application, regional distribution, and company
Based on its application, the pharmaceuticals & personal
care segment held the largest market share in the forecast period. Its high
market share can be attributed to the increasing demand for a wide range of
personal care products, including skincare creams, hair care products, sun care
products, and oral care products. These chemicals play a crucial role in
formulating these personal care and cosmetics items, making them more effective
and beneficial for consumers.
Apart from the personal care industry, oleochemicals
also find extensive use in various industrial applications. They are widely
utilized in oilfield chemicals, pulp and paper chemicals, construction
chemicals, lubricant additives, metalworking fluids, agrochemicals, water
management chemicals, and rubber processing, among others. The industrial
sector greatly relies on specialty oleochemical derivatives, which are in high
demand across multiple industries such as construction, rubber processing,
metalworking, oilfield, and pulp and paper. This is primarily due to the
exceptional physicochemical properties of these derivatives, which make them
ideal for producing lubricants and oil additives, thus fulfilling the specific
requirements of various industrial processes.
Based on region, West India segment is expected to
grow during the forecast period. The region of West India is renowned for
its well-developed industrial infrastructure, which encompasses
state-of-the-art manufacturing facilities, advanced processing units, and
cutting-edge research institutions. This robust foundation has played a pivotal
role in facilitating the remarkable growth of the oleochemicals industry in the
region. With the establishment of industrial clusters and specialized zones,
West India has become a hub for the production and innovation of oleochemicals.
Moreover, the concentration of manufacturers, suppliers, research institutions,
and industry associations in West India has fostered a supportive and
collaborative business ecosystem. This environment promotes collaboration,
encourages knowledge sharing, and ensures the availability of essential
resources, all of which contribute to the region's continued dominance in the
oleochemicals market. The synergy among various stakeholders in West India has
propelled the industry to new heights, making it a prime destination for
businesses and investors in the field.
Major companies operating in India Oleochemicals
Market are:
- VVF (India) Limited.
- Godrej Industries Limited
- 3F Industries Limited.
- Indo Amines Ltd.
- Universal Biofuels Limited.
- Oleochem India Private Limited.
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“Growing application of oleochemicals in various end
user industries are key drivers of the oleochemicals market. Growth in
competitive landscape and presence of well-established countries in the market
who are dedicated to enhance their productivity of oleochemicals with every
passing year are anticipated to register an impressive growth to India
Oleochemicals Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“India
Oleochemicals Market By Type
(Fatty Acid Methyl Esters, Fatty Alcohol,
Glycerin, Fatty Acid and Others), By Application (Pharmaceuticals &
Personal Care, Soap & Detergents, Food & Beverages, Polymers and Others),
By Region, By
Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Oleochemicals Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Oleochemicals Market.
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