NEW YORK, January 18, 2017 /PRNewswire/ --
Growing consumer applications coupled with increasing shift from the conventional petroleum based products towards environment friendly substitutes to drive India oleochemicals market until 2025
According to TechSci Research report, "India Oleochemicals Market By Type, By End Use Industry, Competition Forecast and Opportunities, 2011-2025", oleochemicals market in India is forecast to surpass $2.6 billion by 2025. Robust growth of the personal care industry, favorable government regulations and rising consumerism are among the major factors boosting demand for oleochemicals in the country. Continuing growth in India's oleochemicals market can also be attributed to easy accessibility of raw materials along with the growing demand for green chemicals in India. Government of India has laid down strict regulations regarding the emission of greenhouse gases by vehicles in order to curb rising pollution levels across the country. Consequently, the country's fast growing automotive industry, which recorded a production output of 24,884,312 vehicles in 2015, is boosting demand for bio-diesel in India, which is positively impacting India oleochemicals market. Few of the major oleochemicals manufacturers operating in India include VVF(India) Limited, 3F Industries Limited, Jocil Limited, Godrej Industries Limited, Oil Base India, Oleochem India Private Limited, Indo Amines Ltd., and Universal Biofuels Limited.
Browse 11 market data Tables and 85 Figures spread through 145 Pages and an in-depth TOC on
"India Oleochemicals Market"
Changing lifestyles and increasing discretionary income are the underlying driving forces for the oleochemical industry in India. In 2015, the country's huge soap industry, which is dominated by major soap brands like Lifebuoy, Lux, Santoor and Dettol, accounted for the largest share in the country's oleochemicals market. In addition to this, growing consumer preference for organic and herbal skincare products is also augmenting demand for oleochemicals in the country. Apart from this, the fuel application segment witnessed the fastest growth in the India oleochemicals market during 2011-2015. Various government initiatives such as National Automotive Testing and R&D Infrastructure Project (NATRiP), Focus Market Scheme (FMS), Automotive Mission Plan 2006-2016, National Electric Mobility Mission Plan (NEMMP) 2020, Make in India Program, etc. are boosting the country's automotive industry, which is expected to continue propelling demand for oleochemicals in the coming years.
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"India oleochemicals market is dominated by the fatty acid segment due to easy availability of raw materials such as vegetable oil coupled with growing fondness for organic cosmetic products across the country. Fatty acids have the ability to function as detergents and soaps owing to their amphipathic properties. Moreover, fatty acid serves as a crucial raw material to produce several downstream derivatives including elastomers, toiletry, biocides, softeners, wax, etc. for diversified industries, which is anticipated to continue boosting oleochemicals demand through 2025.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Oleochemicals Market By Type, By End Use Industry, Competition Forecast and Opportunities, 2011-2025" has evaluated the future growth potential of India oleochemical market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India oleochemicals market.
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