Emerging fields emerging, oleic acid market size will continue to grow
2023/8/21
Rapid growth of oleic acid market in 2023
Many countries and regions have their own oleic acid production bases, and product quality and supply capacity are gradually improving. In addition, with the development of globalization, the convenience of international trade has also promoted the cross-border circulation of oleic acid. The improvement of this supply chain makes oleic acid easier to obtain globally and meets the needs of different industries.
The annual growth rate of the global oleic acid market is approximately 3-5%. Among them, China, as one of the world's largest producers and consumers, has a huge demand for oleic acid. The 2023-2028 global and Chinese oleic acid industry market research and development prospect analysis report indicates that the main regions for importing oleic acid in China are Indonesia and Malaysia. In the first half of 2022, China imported 9617010 kilograms of oleic acid from Indonesia, with an import amount of 22111434 US dollars, accounting for 50.9% of the total import volume; The quantity of oleic acid imported from Malaysia in China is 8466313 kilograms, with an import value of 19405745 US dollars, accounting for 44.7%.
Analysis of oleic acid market size in 2023: The global oleic acid market has an annual growth rate of approximately 5%
With the improvement of people's living standards and the acceleration of urbanization, consumers' demand for various products such as daily care products, cleaning agents, food, medicine, etc. has also significantly increased. As one of the indispensable basic raw materials in these products, the demand for oleic acid is closely related to consumer demand for related products. Therefore, the increase in consumer demand directly promotes the rapid growth of the oleic acid market size.
The global oleic acid market is gradually expanding in scale
More and more enterprises are paying attention to environmental protection and sustainable development, promoting the development and application of green oleic acid. Green oleic acid refers to oleic acid products with higher purity and environmental friendliness produced through green processes. As people's attention to environmental issues continues to increase, the demand for green oleic acid is also gradually increasing, providing new opportunities for the expansion of the oleic acid market.
As one of the important global oleic acid producing countries, China's competitive product quality and price in the international market have been recognized and favored by more and more countries and regions. The increase in external demand further drives production enterprises to increase production capacity, driving the continuous expansion of the oleic acid industry market size.
In summary, the global oleic acid market is gradually expanding, driven by multiple factors. The widespread application of oleic acid, the improvement of supply chain, and the requirements for sustainable development have all created favorable conditions for the expansion of the market. It is expected that in the next few years, with the further development of the global economy and the rise of emerging fields, the size of the oleic acid market will continue to grow.
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