Growing Demand From the Biofuel Industry to Drive the Industrial Oils Market

December 09 14:50 2019
Growing Demand From the Biofuel Industry to Drive the Industrial Oils Market

MarketsandMarkets™
The industrial oils market is evaluated at USD 60.2 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019 to 2025, to reach USD 80.7 billion by 2025.

The industrial oils market is estimated to be valued at USD 60.2 billion in 2019 and is projected to account for USD 80.7 billion by 2025, recording a CAGR of 5.0% during the forecast period. The growth of this market is attributed to the increasing demand from the Asia Pacific region due to the rapid development of the industrial sector in the region. In addition, the additional benefits pertaining to the lower impact of biodiesel on the environment is further projected to drive the sales of industrial oils in the coming years.

Industrial Oils Market

Report Objectives

  • To define, segment, and project the global market size for industrial oils market
  • To understand the structure of the industrial oils market by identifying its various subsegments
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total industrial oils market
  • To project the size of the market and its submarkets, in terms of value and volume, with respect to the regions (along with their respective key countries)

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The palm segment is projected to dominate the industrial oils market during the forecast period.

The industrial oil market, on the basis of source, is segmented into soybean, corn, sunflower, cottonseed, rapeseed, palm, and others (olive, safflower, copra, groundnut, linseed/flaxseed, and grape seed). The palm segment is estimated to account for the largest share in the global market in 2019. The market in the Asia Pacific region witnesses high growth in Indonesia and Malaysia, which supply over 85% of the global palm oil. This offers growth opportunities to palm oil manufacturers in these countries as they can export as well as utilize for domestic usage in industries such as biofuels.

The grade I (light) segment is projected to dominate the industrial oils market during the forecast period.

The grade I (light) segment is estimated to account for the largest share in the industrial oils market in 2019. The cosmetics & personal care and pharmaceutical industries utilize grade I (light) industrial oil. The cosmetics & personal care industry is witnessing significant growth in countries such as Brazil and China. This is projected to create lucrative opportunities for industrial oil manufacturers in the coming years. In Europe, the cosmetics industry include leading players such as Louis Dreyfus Company (Netherlands), A&A Fratelli Parodi Spa (Italy), Soya Mills SA (Greece), and Henry Lamotte Oils GmbH (Germany), offering industrial oils that find applications in the cosmetics & personal care industry. These include cosmetics & personal care products include shampoos, soaps, and sunscreens. The region is also projected to be a major revenue generator for industrial oil manufacturers in the coming years.

The Asia Pacific is projected to be the fastest-growing market for industrial oils and is projected to record the highest CAGR during the forecast period. This is attributed to the expanding industrial sector in various countries of the region, which include the energy, chemical, thermal, cosmetic, and pharmaceutical industries. The region has developing countries such as China and India that are undergoing major transformations in terms of industrial developments. In addition, the region consists of major palm oil producing countries such as Indonesia and Malaysia. One of the leading players operating in the industrial oil market in the region is Singapore-based Wilmar International.

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Key players in the industrial oils market include Cargill (US), Bunge Limited (Netherlands), Wilmar International (US), Louis Dreyfus Company (Netherlands), Archer Daniels Midland Company (US), Buhler Group (Switzerland), CHS Inc. (US), Ag Processing Inc (US), A&A Fratelli Parodi Spa (Italy), Gemtek Products (US), AAK Kamani (India), and Soya Mills SA (Greece). Market leaders such as Cargill and ADM are focusing on tapping the potential markets through expansions and agreements strategies.

Key questions addressed by the report:

  • What are the new product areas for industrial oils that the companies are exploring?
  • Which are the key players in the industrial oils market and how intense is the competition?
  • What kind of competitors and stakeholders would industrial oils companies be interested in? What will be their go-to-market strategy for this market, and which emerging market will be of significant interest? 
  • How are the current R&D activities and M&A’s in the industrial oils market projected to create a disrupting environment in the coming years?
  • What will be the level of impact on the revenues of stakeholders due to the benefits of industrial oils compared to different stakeholders, in terms of, rising revenue, environmental regulatory compliance, and sustainable profits for the suppliers?  

 

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