Global industrial plant-based oils market size is estimated to be valued at US$ 57.1 Bn in 2019. Asia Pacific Industrial plant-based oil market accounted for the largest revenue share of above 40% and is primarily driven by steady growth in the bio-fuel demand and government initiatives and subsidies towards alternate source of energy fuels.
The global demand for plant-based oils for biofuels is estimated to account for 40.2 Million Tonnes in 2019 and is primarily driven by palm oil segment. However, increasing growth of pure electric vehicles and adoption of used cooking oils as biofuels are expected to hinder the growth of the market to certain extent.
Global Industrial plant-based oils Market, by Application and Plant Type:
Among all the applications, biofuels segment accounted for the largest revenue share of above 45% in 2019. In addition, palm oil segment in biofuels accounted for the largest share of above 33% revenue share, followed by soybean segment with over 25% and rapeseed segment with over 20%. Palm oil segment is expected to witness healthy growth in the Asia Pacific in the near future. However, In March 2019, European Union announced the ban of offering subsidiaries to adoption of Palm oil as biofuel, could hamper the growth of the segment in Europe.
Global Industrial plant-based oils Market, by Region:
Among all the regions, Asia Pacific industrial plant-based oils market currently dominates the global market and is estimated to be valued at US$ 24.1 Bn in 2019. This is driven by growing demand for biodiesel in emerging countries such as India and China. Palm oil accounts for the largest share in Asia Pacific market. Whereas rapeseed oil in biofuels segment accounts for the largest share of above 45% in Europe market. In the US, Soybean oil in biofuels segment accounts for the largest share.
Global Industrial plant-based oils Market Size and Forecast: Competition Landscape
Various leading industry players focus on expanding its production capacity in order to cater to the growing demand for industrial plant-based oils
- In September 2017, Cargill, Incorporated announced plans to build a biodiesel plant located at Wichita, Kansas, US, in order to growing demand for biodiesel in the country
Some key industrial plant-based oils market players are:
- Bunge Limited
- Cargill, Incorporated
- The Archer Daniels Midland Company
- Wilmar International
- Louis Dreyfus Company
- Soya Mills S.A.
- AG Processing Inc.
- CHS Inc.
- Bühler Group
- A&A Fratelli Parodi Spa
- Gemtek Products
- AAK Kamani Private Limited
- Carotino Sdn Bhd
- Yee Lee Corporation Bhd
- Able Perfect Sdn Bhd
- Sarawak Oil Palms Berhad Group
- BELL Group of Companies
By Plant Type:
By Grade Type:
- Grade I
- Grade II
- Grade III
- Paints and Coatings
- Cosmetics and Personal Care Products
What Will You Discover in the Report?
- An in-depth analysis of the industrial plant-based oils market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the industrial plant-based oils market revenue is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the industrial plant-based oils market in near future
- Which current and upcoming technologies will shape up the industrial plant-based oils market?
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the industrial plant-based oils industry during the forecast period
- Who are the industrial plant-based oils industry leaders and what are the key initiatives taken by them for long term growth?
- Industry exclusive use cases
Who will benefit from the Report?
- Industrial Plant-based Oils Producers
- Industrial Plant-based End-users
- Biofuels Manufacturers
- Consultants and Analysts
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