Oleochemicals Market to Reach $54.43 Billion by 2031 - SkyQuest Technology

Barchart · 10/18 07:58

Westford, US, Oct. 18, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global oleochemicals market size will reach a value of USD 54.43 Billion by 2031, with a CAGR of 6.3% during the forecast period (2024-2031). The market has witnessed considerable growth in the recent past owing to the rising demand for biodegradable and sustainable products coupled with strict regulations on derivatives of petrochemicals. The growing inclination towards green alternatives and modernization in product applications also fuels the market. Furthermore, increasing demand for chemicals from the food & beverages industry is impacting market growth.

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