Rising Trends of Bio-Based Industrial Oil Usage Drives the Industrial Oils Market

Northbrook, USA, 2020-Feb-12 — /EPR Network/ — The industrial oils market is estimated to account for a value of USD 60.2 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 80.7 billion by 2025. The biodiesel industry is projected to be a major revenue generator for industrial oils manufacturers in the coming years due to its reduced environmental impact. In addition, the industrial sector in the emerging countries of the Asia Pacific region is growing with countries such as China and India, which are the hub of industrial oils, due to the expanding chemical, biodiesel, and cosmetics industries.

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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.

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The Asia Pacific region is projected to account for the largest market size during the forecast period.

The Asia Pacific industrial oils market is projected to account for the largest share by 2025. These factors are projected to drive the industrial oils market in the region. The market in the region witnesses significant growth due to the expansion of the industrial sector. The paints & coatings industry is projected to create lucrative opportunities for industrial oils manufactures in the coming years, particularly in China. The region has witnessed a growth in the cosmetics & personal care industry with products such as shampoos, lotions, and other grooming products gaining popularity. The biofuels industry is also projected to provide high growth prospects for industrial oils manufacturers in the region. Industrial oils manufacturers are projected to use sources such as soybean, palm, and corn-based oils across various verticals including pharma, cosmetics & personal care, biofuels, and paints & coatings in the region. Wilmar International (Singapore) is one of the leading players in the region, which offers industrial oils. In addition, international players such as Louis Dreyfus Company (Netherlands) has its presence in the Chinese market through its processing plant in the country.

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.

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