The demand for soaps, detergents, and personal care products are on the increase leading to the growth of the global oleochemicals market. Also, the personal care industry is growing at a rapid pace including soaps and detergents resulting in the demand for oleochemicals.
LONDON: The procurement research report on the oleochemicals market is an indispensable part of SpendEdge’s chemicals category portfolio and offers a meticulous analysis of the key factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. Furthermore, it also offers scrupulous insights into the key market developments, demand-supply shifts, and supply chain management to help sourcing and procurement experts make smart procurement decisions.
The constantly growing demand for oleochemicals in the production of biopolymers and bio-lubricants due to their biodegradability and the increasing demand for eco-friendly chemicals that can replace petrochemicals fuel the market growth. Furthermore, increasing needs to reduce carbon footprint due to growing stringency of environmental regulations has also increased the adoption of oleochemicals.
“Procurement managers must look for certifications and quality standards followed by oleochemical companies,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge. “This will help them ensure the quality of end-user products or applications especially in food and beverage products,” added Anil.
The availability of raw materials used to produce oleochemicals includes palm oil, rapeseed oil, and coconut oil. These raw materials are subject to factors such as supply and demand dynamics and climatic conditions, which may affect the delivery time and JIT capabilities of oleochemical companies. Furthermore, delays or failures of product deliveries by suppliers can hamper the delivery timelines and increase the lead time.
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