The US speciality oleochemicals market size was estimated at 1,097 kilo tonnes in 2015. The increasing demand for sustainable solutions and bio-degradable products coupled with changes in the US regulations such as EPA are raising the influence of oleochemicals in various segments of the chemical industry, according to a report by Grand View Research.
The recent developments have created new applications for oleochemical products in various segments such as in biosurfactants, lubricants and polymers which offer substantial prospects for companies in the long run.
Customers increasingly prefer natural based products and this trend is likely to become more prominent in the US in the near future. The chemical companies are increasingly involved in sustainable development as part of liable care initiatives, which further drives the product demand in the region.
In US, the banning of trans fats may further boost the consumption of palm-based products. The demand for speciality oleochemicals derivatives is growing at a steady pace owing to increase in consumption of personal care, pharmaceutical, and food products. Demand for personal care products is increasing owing to increase in disposable incomes, product innovation, and high market penetration.
The current regulatory framework in the US is defined by tax incentives provided by government in order to encourage biofuel consumption. The demand for biodiesel is directly associated with the blending norms and specification standards established by US governments across the region through legislative policies.
The change in blending and production standards may have a considerable impact on the biodiesel market, which in turn is expected to affect oleochemicals demand in biodiesel production. Additionally, growing popularity of shale gas as an alternative energy source is expected to have an adverse impact on the biodiesel demand in the US, which is expected to remain a major hindrance to the industry expansion.
The US speciality oleochemicals market size was estimated at 1,097 kilo tonnes in 2015. The increasing demand for sustainable solutions and bio-degradable products coupled with changes in the US regulations such as EPA are raising the influence of oleochemicals in various segments of the chemical industry, according to a report by Grand View Research.
The recent developments have created new applications for oleochemical products in various segments such as in biosurfactants, lubricants and polymers which offer substantial prospects for companies in the long run.
Customers increasingly prefer natural based products and this trend is likely to become more prominent in the US in the near future. The chemical companies are increasingly involved in sustainable development as part of liable care initiatives, which further drives the product demand in the region.
In US, the banning of trans fats may further boost the consumption of palm-based products. The demand for speciality oleochemicals derivatives is growing at a steady pace owing to increase in consumption of personal care, pharmaceutical, and food products. Demand for personal care products is increasing owing to increase in disposable incomes, product innovation, and high market penetration.
The current regulatory framework in the US is defined by tax incentives provided by government in order to encourage biofuel consumption. The demand for biodiesel is directly associated with the blending norms and specification standards established by US governments across the region through legislative policies.
The change in blending and production standards may have a considerable impact on the biodiesel market, which in turn is expected to affect oleochemicals demand in biodiesel production. Additionally, growing popularity of shale gas as an alternative energy source is expected to have an adverse impact on the biodiesel demand in the US, which is expected to remain a major hindrance to the industry expansion.
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