Regional Outlook
The Asia Pacific is known as the manufacturing hub, where several manufacturers have set up plants to meet the required demand. The region also has massive availability of the raw materials, especially in Indonesia, Malaysia, and the Philippines, where the palm and coconut oil markets have witnessed tremendously high growth. North America is the second-largest market for the specialty oleochemicals. The United States is the major contributor due to rising application growth prospects in personal care & cosmetics, consumer goods, healthcare industry, and paints & inks sector. Europe is also anticipated to witness considerable growth on account of the growing significance of biodiesel and sustainability.