Oleochemicals are a broad group of chemical compounds derived from natural fats and oils. They are considered biodegradable and have low toxicity. This is in contrast to petrochemicals which are made from petroleum. They are used in many applications and industries including plastics, rubber and paper production, metalworking lubricants, automobiles, fuel additives, personal care products, surfactants, food ingredients, and others.
Market Dynamics:
The oleochemical industry is growing at a rapid pace due to rising demand for green chemicals and increasing environmental regulations. It also offers a sustainable alternative to petroleum-based products and is a source of renewable energy. Moreover, many distinct governments are framing regulations encouraging the use of green chemicals in their manufacturing. Additionally, there is a rise in consumer preference for premium and organic personal care and household cleaning products.
On the other hand, fluctuating price of petrochemicals is expected to hamper the market growth.
Key features of the study:
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