Industrial Oils Market Growth Factors, Key Players and Global Forecast to 2025

The Industrial Oils Market is evaluated at USD 60.2 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019 to 2025, to reach USD 80.7 billion by 2025. 

The biodiesel industry is projected to be a major revenue generator for industrial oils manufacturers in the coming years due to its reduced environmental impact. In addition, the industrial sector in the emerging countries in the Asia Pacific region is growing in countries such as China and India, which is a hub of industrial oils, due to the expanding chemical, biodiesel, and cosmetics industries. These factors are projected to create new opportunities for the growth of the global industrial oils market in the coming years.

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Sunflower oil is gaining popularity among industrial oils manufacturers at a global level due to its vitamin content, which makes it an ideal oil for the cosmetics and personal care applications. The Asia Pacific region is projected to be a major revenue generator for the cosmetics & personal care industry in the coming years. The market in the region witnesses significant demand in countries such as China, Japan, Australia, India, and South Korea. Urbanization has led to an increase in sales of grooming products such as shampoos, conditioners, and skincare products, in which sunflower oil is added.

The biofuels industry is projected to witness high growth prospects in the Asia Pacific region due to the increasing number of vehicles, growing population base, rising urbanization, and enhanced standards of living. 

Key Players:

Cargill (US) is among the leading players in the industrial oils market. The leading position of the company is attributed to its robust portfolio of industrial oils derived from a wide variety of sources such as coconut, rapeseed, and sunflower. These products cater to the diverse requirements across industries including cosmetics & personal care, paints & coatings, and biofuels. 

ADM (US) is one of the leading players in the industrial oils market. This is attributed to a wide geographic presence in over 170 countries. In addition, the company mainly focuses on innovations with over 62 innovation centers spread across various locations at a global level. 

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Key players in the industrial oils market include Cargill (US), Bunge Limited (Netherlands), Wilmar International (US), Louis Dreyfus Company (Netherlands), Archer Daniels Midland Company (US), Buhler Group (Switzerland), CHS Inc. (US), Ag Processing Inc (US), A&A Fratelli Parodi Spa (Italy), Gemtek Products (US), AAK Kamani (India), and Soya Mills SA (Greece). Market leaders such as Cargill and ADM are focusing on tapping the potential markets through expansions and agreements strategies.

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