Leading Players in the Global Industrial Oils Market

Posted on 2021-03-30 by MarketsandMarkets in Food & Beverage, Pharmaceuticals // 0 Comments

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 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 in the Asia Pacific region is growing in countries such as China and India, which is a hub of industrial oils, due to the expanding chemical, biodiesel, and cosmetics industries. These factors are projected to create new opportunities for the growth of the global industrial oils market in the coming years.

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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.

Cargill (US) is among the leading players in the industrial oils market. The leading position of the company is attributed to its robust portfolio of industrial oils derived from a wide variety of sources such as coconut, rapeseed, and sunflower. These products cater to the diverse requirements across industries including cosmetics & personal care, paints & coatings, and biofuels.

The company has a robust distribution network spanning over 125 countries at a global level. To maintain its leadership position, the company has undertaken expansions, and new product launches strategies. In 2016, the company expanded its presence in the Brazilian industrial oil market with the acquisition of SGS Microingredien (Brazil). In the same year, the company expanded its presence in the Brazilian industrial oil industry with the launch of its brand, Lyveum, a vegetable oil derived product.

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ADM (US) is one of the leading players in the industrial oils market. This is attributed to a wide geographic presence in over 170 countries. In addition, the company mainly focuses on innovations with over 62 innovation centers spread across various locations at a global level. The company’s industrial oils cater to a wide variety of applications in the cosmetics & personal care and paints & coatings industries.

The company focuses on undertaking various strategies such as expansions and joint ventures as its key strategies to sustain its position in the industrial oils market. In 2017, the company expanded the storage capacity of its Missouri (US) plant for soybeans. The plant produces soybean oil for the biodiesel industry.

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