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Global Markets for Oleochemical Fatty Acids

NEW YORK, Jan. 8, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Global Markets for Oleochemical Fatty Acids

http://www.reportlinker.com/p01080060/Global-Markets-for-Oleochemical-Fa...

INTRODUCTION

STUDY GOALS AND OBJECTIVES

This BCC Research study is focused on the natural––based fatty acid industry, which is part of the wider oleochemical industry. The natural based fatty acid industry has been a workhorse in the chemical industry for a number of years, but it is a brightly burning star today fueled by the green chemistry agenda. The reason is that the raw material consumed to produce the oleochemicals is mainly based on material that is renewable, sustainable and readily biodegradable. This study reviews how the industry has recovered from the economic slowdown of 2008 and 2009, and how it will develop and change over the next five years through 2017. Global value demand for natural fatty acids, as well as the byproduct glycerin, will grow 9.8% annually from the current manufacturing value of $7.7 billion in 2011 to $13.5 billion through 2017.

This is based on the expectation that prices of key vegetable oils and animal fats will continue to rise sharply during the six–year period due to pressure on stocks from not only the fatty acid sector, but also the self–sufficient energy generation (bio–fuel) and food industries as well as export taxes imposed on key vegetable oils. In tandem, the demand for the base oleochemicals will largely reflect the gross domestic product of the developing nations across Asia, South America, Eastern Europe, the Middle East and Africa. However, the profitability for the operators will be squeezed as raw materials are a substantial portion of the manufacturing costs and there is difficulty in passing these fully across to the customers.Derivatives will experience the most growth, while personal and homecare applications will reap the benefits of the drive towards greener and more biodegradable chemicals. The wax applications (including candles and crayons) segment is expected to benefit from the lack of sufficient paraffin volumes to meet demand as a result of petrochemical refineries shifting production streams to match demand from the motor oil industry.

A shift towards alternative waxy substances will also be driven by the high price of crude oil passing along the whole fossil fuel supply chain. This study looks at the basic oleochemical business of fatty acids based on fats and oils and touches upon the impact of the biodiesel industry on the market. It presents historical demand data for 2008 and 2011, estimates for 2012 and projections for 2017. It reviews the main markets for the major acid types from stearic acid, distilled fatty acids, polyunsaturated (including tall oil fatty acid: TOFA), fractionated fatty acids and monounsaturated oleic acid. It reports on market sectors, reviews latest technology developments including the patent space, provides a regional perspective, examines the changing landscape of raw material and reviews the byproduct glycerin market.

Market shares provided by leading and active merchant players such as Emery Oleochemical, Arizona Chemicals, Kuala Lumpur Kepong (KLK), IOI, Wilmar International Vantage Oleochemical, Oleon, Felda, MeadWestVaco, Forchem, Braido, Oxiteno and CremerOleo are profiled. The report looks at how government incentives and regulations have impacted the industry especially with respect to self–sufficient energy resources and animal fat classification. It also assesses the impact of rising raw material prices, tight supply and demand curves for certain acid chains, the uncertainty of the economy in many of the developed countries around the world and the impact of the Roundtable on Sustainable Palm Oil (RSPO) accreditation.

REASONS FOR DOING THE STUDY

The fatty acid industry provides multiple products that are used in a wide range of industries due to the functionality it offers as a result of its molecule structure. A typical fatty acid has two reactive sites; the minor is the double bonds situated along the straight alkyl chain, while the major is a carboxylic acid group at the start of the chain. Thus, the molecule is a starting material for a number of reactions changing the functionality and performance dependent on the fatty acid derivative formed. Fatty acids are excellent hydrophobes and thus are a key material for a number of very important surfactant groups.

The world economy is still in a fragile state with a number of financial stress points impacting the more developed regions, oleochemicals will be a vital resource to meet the ingredient needs of a number of specialty chemical formulators and consumer facing companies.

Oleochemicals service different types of markets, more industrial orientated segments require ingredients that can achieve or even surpass the performance specification of the application at a price that is affordable while the more wellbeing and health orientated markets require ingredients that are not only suitable for human contact, be that externally on the skin or internally such as orally digested, but are sourced from renewable and natural grown origins. In both cases ingredients consumed must meet all safety, health and environmental regulations and legalization. Based on these types of demand the more wellbeing sectors will grow faster in value terms with a CAGR between 12% and 16% from 2012 through 2017 compared to the industrial segment at between 7% and 10% over the same period.

There are a number of governmental tax break incentives for using biomass to generate energy and produce fuel products. There are also export tax incentives for major tropical oil plantation countries to use local companies to develop downstream manufacturing capabilities utilizing locally sourced materials. Combined these incentives will have a profound effect on the industry at various points along the value chain. The self–sufficient energy incentives will not only drive up the cost of raw material for producers, it will tighten the supply especially for tallow based economies. The export taxes will not only make it prohibitive for foreign companies, especially those located outside Asia, to source the high in–demand, medium–chain, fatty acid raw material; it will also mean that local producers gain an unfair monetary advantage over the competition since derivatives of these fatty acids or refined acids such as fractionated and distilled cuts are exempt from this export tax.

The exponential growth in certain segments of the oleochemical family led to the devastation of important ecological systems that cannot be recovered. In addition it resulted in the diversion of not only vital food ingredients, but the arable land used to grow the crops such was the eagerness of a number of companies to benefit from the high value demand. The industry is now going to great lengths to, not only meet the growing needs of the market, but to do this in a way that is sustainable while minimizing the impact of the food supply chain.

CONTRIBUTION OF THE STUDY AND INTENDED AUDIENCE

Twenty-five years ago the oleochemical industry was in the heartland of mainland Europe and North America with a small foothold in Asia. Today, the heartland has shifted towards Asia with over 65% of the capacity on the ground now residing in that region. Another revolution has taken place today with upstream plantation owners seeking routes and applications for their crops by taking over established and longtime oleochemical firms or moving products for the same price around the world regardless of destination.

While a global business, fatty acids have a high regional tendency due to the fact that moving fatty acids a long distance is expensive as acids are prone to air oxidation, color reversion, odor reversion, metal pick–up and partial crystallization. Several factors play a role in the selection of raw material for oleochemicals, which are availability, fatty acid composition, quality and price. A number of sources are interchangeable such as coconut oil or palm kernel oil or palm oil for tallow, but it can result in challenges around meeting certain specifications as it is not a direct like–for–like substitution.

An important part of the profitability of the fatty acid industry is the outlets for the byproduct glycerin that is automatically generated when either fats or oils are hydrolyzed. The amount generated varies depending on the starting material, with the harder oils generating more glycerin than the majority of animal fats or softer oils. Thus, the amount of glycerin will increase as the share of the harder oils is projected to increase by a compound annual growth rate (CAGR) of 5.6% volume–wise during the forecast period through 2017. In recent years the glycerin market has been flooded by supply from the biodiesel market causing a collapse in the price, seriously impacting the profitability of fatty acid operators. The oversupply led to an abundance of research to generate new outlets for this byproduct resulting in the potential to be a key component of the future renewable chemical building block platform for chemical–using industries.

The slowdown during Q4 2008 and the whole of 2009 had a serious impact on the oleochemical business as orders were cancelled, volumes dropped and the prices fell through the floor. In 2010 the industry showed its resilience by bouncing back quickly as demand picked up, customers restocked and prices soared. The profit margins of the producers have suffered as rising raw material and energy costs impact the operational costs, especially for companies that are not backward integrated. Margins have been squeezed and with players actively selling on volume, not price, the situation is unlikely to improve in the near future. However, the demand in the derivative segment of the downstream industry and the desire for more renewable and environmentally friendly products creates the potential to produce greener material. It is uncertain though whether customers are really willing to pay premium prices in times of austerity.To this end, the study will be useful for the following:

- Marketing managers.

- Senior oleochemical executives.

- Decision makers from international governments.

- Traders and distributors of chemical products.

- Plant and operations directors.

- Engineering and technology manufacturers and providers.

- Process and technology support advisors.

- Plantation owners and renders managers.

- Logistical, supply chain and e–business specialists.

- Corporate, project and trade finance specialists

- Strategic planners and forecasters.

- New product and business developers.

- Decision makers from the chemical and energy industries/end users (oil, gas, petrochemical, fertilizer and chemical companies).

- Trade associations.

- Environmental consultants.

- Equipment manufacturers and process designers.

- Venture capitalists, those involved in research and development work and academic institutions.

SCOPE AND FORMAT

As the social condition of citizens in the developing nations rises, so too will the demand from these communities for more premium and westernized products, reflecting the higher standard of living status.

Oleochemicals, such as fatty acids, will be a vital link in the supply chain as their outstanding functionality and versatility make them ideal to be used in a multitude of applications. On top of this the high reactivity of this acid enables the production of a range of derivatives that can be tailored to meet the needs of a number of end using industries, working with the formulators to produce the ideal blend of functionality and performance.

The range of derivatives is dependent on the reaction site used. Derivatives can be produced using the acid functionality such as saponification, esterification, ethoxylation, or amination while derivatives based on the unsaturation include isomerization, dimerization, epoxidation, and hydrogenation acids.

Fatty acids and their derivatives have a range of functionality that can be used to support the move away from the petrochemical based platform that is reliant on the rapidly reducing fossil fuel industry since all the easy oil has been extracted and the remaining oil is more inaccessible, more remote and located in more inhospitable environments. While the equivalent renewable bio refinery type platform has a long way to go to be commercially viable and suitable to replace the petrochemical platform, oleochemicals will be a major contributor to such development. For instance the ester derivatives have the functionality of surfactancy, lubricity and solvency, which deliver the following benefits:- The ability to reduce the surface tension between a polar and an apolar medium, which is important for cleaning and emulsification.- The ability to reduce friction, which is needed for lubricant applications.- The ability to dissolve chemicals, which is key to providing a greener solvent substitution for cleaning.

This report provides an understanding of how the composition of various fats and oils transform into the range, quality and types of acids produced and the applications for which those acids can be used. It explores the various attributes of different acid types and how these cuts compete with synthetic formed products from the petrochemical route and the major applications outlets.

This study will reveal the developments and research that demonstrate the green credentials of the oleochemical family and how these credentials are changing the environmental profile of the chemical using industry. This is helpful to the transformation from that of a major polluter to an industry working in harmony with its environment to meet the needs of the current generation without detrimental effects on its surroundings that would impact the generations to come. The study is divided into a number of sections and covers the following fatty acid types:- Stearic acid.- Distilled fatty acids.- Fractionated fatty acids.- Polyunsaturated acids including tall oil fatty acids.- Oleic acids.

The fatty acid oleochemical business is important for the following reasons:

- It is a major source of surfactants, which are starting materials for the detergent, cleaning and personal care industries.

- The functionality and performance combination enables formulators to deliver tailored solutions to meet a variety of customers' needs.

- It is an important cornerstone in the development of a sustainable chemical platform to reduce the reliance on fossil fuel based chemistry.

- It promotes the development of green chemistry that is environmentally friendly.

- Conversion of solid fats and liquid vegetable oils into a straight chain saturated or unsaturated carboxylic acid can be used in edible and non edible markets.

METHODOLOGY AND INFORMATION SOURCES

The insight and analysis contained within this report are based on information gathered from a cross section of oleochemical manufacturers, end users and other informed sources. Primary interview data was combined with secondary information gathered through an extensive review of published literature such as trade magazines, trade associations, company literature, conference material, patented technology, social media sites and online databases to produce the baseline market estimates contained in this report and building on the data collected in the previous review.With 2008 through to 2011 as the baseline, changes within each application were discussed and projections for each segment were developed for 2012 through 2017. Key findings were summarized, as well as tested, confirmed and debated with important contacts in the industry. BCC Research understands the market drivers and their impact from a historical and analytical perspective, which enabled the extraction and discussion of major developments and the subsequent impact on the markets.The analytical methodologies used to generate market estimates are based on a projection of world economy, world trade and technology developments. All dollar projections presented in this report are based on 2012 constant dollars.ANALYSTS' CREDENTIALS

Ronald van Rossum has more than 25 years of experience providing information management services to the chemical industry. For 10 years, he was a global information manager, delivering a wide range of services within the number one global oleochemical manufacturer. He is an expert information searcher and speaks several languages. He is also the co–author of BCC Reports CHM039B Oilfield Process Chemicals: Global Markets and CHMO46B Global Market for Catalyst Regeneration.John Joe Harkin is a Ph.D. chemist who graduated from the University of Manchester, United Kingdom, and is an independent business intelligence consultant. He has 21 years of experience providing business insight to a range of companies in the chemical and related industries. The majority of his industrial career was spent supporting business development activities on a global basis for the market leading oleochemical firm at that time. He is also the co–author of BCC Reports CHM039B Oilfield Process Chemicals: Global Markets and CHMO46B Global Market for Catalyst Regeneration.REPORT HIGHLIGHTS

This report provides:

- An overview of the global markets for oleochemicals, including natural fatty acids, biodiesel and methyl esters, glycerine, as well as derivaties such as soaps, dimers, branched fatty acids, and fatty alcohols.

- Analyses of global market trends, with data from 2008 through 2012, and projections of compound annual growth rates (CAGRs) through 2017.

- Examination of applications by end market, such as household, personal care, oil field, and lubricants.

- Discussion of current and potential legislation that will affect the industry.

Coverage of consumer trends that drive many of the end markets, such as cleaning, beauty, and food.

Comprehensive company profiles of major players.

TABLE OF CONTENTS

CHAPTER 1 INTRODUCTION 1

STUDY GOALS AND OBJECTIVES 1

REASONS FOR DOING THE STUDY 2

CONTRIBUTION OF THE STUDY AND INTENDED AUDIENCE 2

SCOPE AND FORMAT 4

METHODOLOGY AND INFORMATION SOURCES 5

ANALYSTS' CREDENTIALS 5

RELATED BCC RESEARCH EFFORTS 6

BCC ONLINE SERVICES 6

DISCLAIMER 6

CHAPTER 2 SUMMARY 8SUMMARY TABLE GLOBAL MARKET FOR NATURAL FATTY ACIDS THROUGH 2017 ($MILLIONS) 11SUMMARY FIGURE GLOBAL MARKET FOR NATURAL FATTY ACIDS, 2008-2017 ($ MILLIONS) 11REPORT HIGHLIGHTS 12

CHAPTER 3 OVERVIEW OF THE INDUSTRY 14

INTRODUCTION 14

CHANGES IN THE OLEOCHEMICAL WORLD 15

RECENT AND FUTURE DEVELOPMENTS IN BRIEF 16

WHAT ARE OLEOCHEMICALS? 17

TABLE 1 AN OVERVIEW OF OLEOCHEMICALS 18

FIGURE 1 BASIC OVERVIEW OF THE OLEOCHEMICAL INDUSTRY 19

NATURAL FATTY ACIDS AND GLYCERIN 19

FIGURE 2 SATURATED FATTY ACID 20

FIGURE 3 UNSATURATED FATTY ACID 20

TABLE 2 NATURAL SATURATED FATTY ACIDS WITH CARBON CHAIN LENGTH, CHEMICAL

STRUCTURE AND EXAMPLES OF ORIGIN 21

TABLE 3 NATURAL UNSATURATED FATTY ACIDS WITH CARBON CHAIN LENGTH,

CHEMICAL STRUCTURE AND EXAMPLES OF ORIGIN 21

Tall Oil Fatty Acids (TOFA) 22

Castor Oil 22

Branched Fatty Acids 23

Glycerin€ 23

FIGURE 4 GLYCERIN MOLECULE 24

Biodiesel and Glycerin 24

Synthetic Glycerin and the Glycerin Market 24

FATTY ACID DERIVATIVES 25

FATTY ALCOHOLS 25

SOAPS 26

DIMERS 27

ESTERS 27

FIGURE 5 ESTER MOLECULE: THE "R" IS THE VARIABLE, COMMONLY AN ACID "REST"

GROUP 27

Esterification/Transesterification Process 28

AMIDES 29

FIGURE 6 ETHANAMIDE, AN EXAMPLE OF AN AMIDE MOLECULE 29

AMINES 29

FIGURE 7 AMINES 29

SULFONATES 30

FIGURE 8 SULFONATE 30

FUNCTIONALITY AND BUILDING BLOCKS 31

NONIONIC SURFACTANTS FROM METHYL ESTERS 32

BUILDING BLOCKS FOR POLYMERS 32

RAW MATERIALS 32

GLOBAL PRODUCTION OILS AND FATS 32

TABLE 4 WORLD PRODUCTION OF OILS AND FATS BY SOURCE, THROUGH 2017 (MILLION

METRIC TONS) 33

FIGURE 9 ESTIMATED WORLD PRODUCTION OF FATS AND OILS BY SOURCE, 2017 (%) 34

FIGURE 10 ESTIMATED VEGETABLE/ANIMAL FATS AND OILS, 2010 AND 2017 (%) 35

CONSUMPTION OF FATS AND OILS IN OLEOCHEMICALS 36

FIGURE 11 ESTIMATED PERCENTAGE OF USAGE OF OILS AND FATS, 2000 AND 2012 (%) 37

PRODUCTION OILS AND FATS, REGIONAL DIFFERENCES AND DEMAND 38

TABLE 5 WORLD PRODUCTION OILS AND FATS BY REGION, THROUGH 2017 (MILLION

METRIC TONS) 38

CHOICE OF RAW MATERIALS 39

FATTY ACIDS AND GLYCERIN 40

FATTY ACID COMPOSITION OF VARIOUS NATURAL OILS AND FATS 40

Nomenclature 40

Composition, Saturated vs. Unsaturated, MUFA vs. PUFA 41

Properties 42

TABLE 6 COMPOSITION AND PROPERTIES OF NATURAL OILS AND FATS 42

COMPOSITION AND CHARACTERISTICS OF NATURAL FATTY ACIDS AND GLYCERIN 44

Properties 44

SATURATED FATTY ACIDS IN ALPHABETICAL ORDER OF COMMON NAMES 45

Arachidic Acid (C20) 45

Behenic Acid (C22) 45

Capric Acid (C10) 46

Caproic Acid (C6) 46

Caprylic Acid (C8) 46

Lauric Acid (C12) 47

Myristic Acid (C14) 47

Palmitic Acid (C16) 47

Stearic Acid (C18) 48

TABLE 7 SELECTED PROPERTIES OF SATURATED FATTY ACIDS 48

UNSATURATED FATTY ACIDS IN ALPHABETICAL ORDER OF COMMON NAMES 48

Erucic Acid (C22:1) 49

Gadoleic Acid (C20:1) 49

Linoleic Acid (C18:2) 49

Linolenic Acid (C18:3) 50

Myristoleic Acid (C14:1) 50

Oleic Acid (C18:1) 51

Palmitoleic Acid (C16:1) 51

Ricinoleic Acid (C18:1OH) 51

TABLE 8 SELECTED PROPERTIES OF UNSATURATED FATTY ACIDS 52

PROPERTIES OF GLYCERIN AND TOFA 52

Glycerin 52

TABLE 9 PROPERTIES OF GLYCERIN 53

Tall Oil Fatty Acids (TOFA) 53

TABLE 10 EXAMPLE OF PROPERTIES TOFA 54

END USES, APPLICATIONS 54

THE MANUFACTURING LANDSCAPE 55

Hydrolysis or Splitting 55

FIGURE 12 SPLITTING COLUMN 55

Segregation/Separation 56

Distillation of Fatty Acids 57

Hydrogenation (Hardening) 57

Partial Hydrogenation 57

GLYCERIN PURIFICATION 58

MANUFACTURERS OF PRODUCTION EQUIPMENT 59

Which Technology to Use 59

FATTY ACID MANUFACTURERS AND THE INDUSTRY 60

A Changing Manufacturer's Landscape 60

Mergers and Acquisitions, Strategic Changes 61

TABLE 11 SELECTION OF MERGERS AND ACQUISITIONS WITH AN IMPACT IN THE FATTY

ACIDS AND DERIVATIVES INDUSTRY 64

TABLE 12 CAPACITY CHANGE ANNOUNCEMENTS 66

LEGISLATION 73

TRENDS AND IMPACTS 73

REGIONAL AND GEOGRAPHICAL DEVELOPMENTS 73

RENEWABLES - GREEN CHEMISTRY - SUSTAINABILITY 75

FIGURE 13 RSPO ENTRY PAGE FOR PLAYERS IN THE PALM OIL PRODUCTION SUPPLY

CHAIN 77

CHAPTER 4 OVERVIEW OF MARKETS AND APPLICATIONS FOR NATURAL FATTY ACIDS 80OVERVIEW 80IMPACT OF FINANCIAL CRISIS OF 2008 AND 2009 80CHANGING NATURE OF OLEOCHEMICAL PRODUCERS 81OLEOCHEMICAL BUSINESS MODEL 81OLEOCHEMICAL BASE FAMILY 82OLEOCHEMICAL COMPARED TO FOSSIL FUEL BASED PETROCHEMICALS 82GREEN CHEMISTRY 83SUSTAINABLE PALM OIL INDUSTRY 83MANUFACTURING LANDSCAPE 85TABLE 13 SNAPSHOT OF BASE FATTY ACID CAPACITY BY REGION, 2011 (MILLION METRICTONS) 86FIGURE 14 SNAPSHOT OF BASE FATTY ACID CAPACITY, BY REGION, 2011 (MILLION METRICTONS) 86FATTY ACID GLOBAL CONSUMPTION OVERVIEW 87TABLE 14 BASE FATTY ACID CONSUMPTION, THROUGH 2017 (%*) 87FIGURE 15 BASE FATTY ACID CONSUMPTION, 2008-2017 (%) 87APPLICATIONS FOR OLEIC ACID AND ITS SIMPLE DERIVATIVES 88TABLE 15 TYPICAL APPLICATIONS FOR OLEIC ACID AND ITS SIMPLE DERIVATIVES 89ECONOMIC OUTLOOK 89TABLE 16 REAL DOMESTIC PRODUCT GROWTH RATES, 2008-2017 (%) 90FIGURE 16 REAL DOMESTIC PRODUCT GROWTH RATES, 2008-2017 (%) 90IMPACT OF GOVERNMENTAL INTERNAL ENERGY SECURITY INCENTIVES 91PRODUCT OVERVIEW 92FATTY ACID TYPES 92TABLE 17 SPLIT OF FATTY ACID TYPES ACROSS REGIONS IN TERMS OF CONSUMPTION,2011 (%) 93DISTILLED FATTY ACIDS 93TABLE 18 EXAMPLES OF DISTILLED FATTY ACIDS 94POLYUNSTAURATED FATTY ACIDS 94TABLE 19 EXAMPLES OF POLYUNSATURATED FATTY ACIDS 95TABLE 20 DFA AND PUFA MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 95FIGURE 17 DFA AND PUFA MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 95FRACTIONATED FATTY ACIDS 96TABLE 21 EXAMPLES OF FRACTIONATED FATTY ACIDS 97TABLE 22 FFA MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 97FIGURE 18 FFA MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 98STEARIC ACID 98TABLE 23 EXAMPLES OF STEARIC FATTY ACIDS 99TABLE 24 STEARIC ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 99FIGURE 19 STEARIC ACID MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 100OLEIC ACID 100TABLE 25 EXAMPLES OF OLEIC FATTY ACIDS 101TABLE 26 OLEIC ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 101FIGURE 20 OLEIC ACID MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 101PRICING MECHANISM FOR FATTY ACID TYPES 102TABLE 27 AVERAGE PRICE FOR DIFFERENT FATTY ACID TYPES, 2008-2011 ($/POUND) 103PROJECTION OF PRICES DURING FORECAST PERIOD 2012 THROUGH 2017 104TABLE 28 AVERAGE PRICE FOR DIFFERENT FATTY ACID TYPES THROUGH 2017 ($/POUND) 105DEMAND BY APPLICATION 105CAPTIVE COMPARED TO MERCHANT 105TABLE 29 APPLICATION VALUE OF FATTY ACIDS: MANUFACTURING LEVEL THROUGH 2017($ MILLIONS) 106FIGURE 21 APPLICATION VALUE OF FATTY ACIDS: MANUFACTURING LEVEL, 2008-2017 ($MILLIONS) 106ANIMAL FEED 107TABLE 30 ANIMAL MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 108FIGURE 22 ANIMAL FEED MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 108COSMETICS AND TOILETRIES 108TABLE 31 COSMETICS AND TOILETRIES MANUFACTURING SALES THROUGH 2017 ($MILLIONS) 109FIGURE 23 COSMETICS AND TOILETRIES MANUFACTURING SALES 2008–2017 ($ MILLIONS) 109DETERGENTS AND CLEANERS 110TABLE 32 HOME, INDUSTRIAL AND INSTITUTIONAL MANUFACTURING SALES, THROUGH2017 ($ MILLIONS) 111FIGURE 24 HOME, INDUSTRIAL AND INSTITUTIONAL MANUFACTURING SALES, 2008–2017($ MILLIONS) 111EMULSION POLYMERIZATION 112TABLE 33 EMULSION POLYMERIZATION MANUFACTURING SALES, THROUGH 2017 ($MILLIONS) 112FIGURE 25 EMULSION POLYMERIZATION MANUFACTURING SALES 2008–2017 ($ MILLIONS) 112LUBRICANTS 113TABLE 34 LUBRICANT MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 114FIGURE 26 LUBRICANT MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 114ORE PROCESSING 115TABLE 35 ORE PROCESSING MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 115FIGURE 27 ORE PROCESSING MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 115RESINS 116TABLE 36 RESINS MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 116FIGURE 28 RESINS MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 116TEXTILE SOFTENERS 117TABLE 37 TEXTILE SOFTENERS (FABRIC SOFTENERS) MANUFACTURING SALES, THROUGH2017 ($ MILLIONS) 118FIGURE 29 TEXTILE SOFTENERS (FABRIC SOFTENERS) MANUFACTURING SALES 2008–2017($ MILLIONS) 118VULCANIZATION 118TABLE 38 RUBBER PROCESSING MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 119FIGURE 30 RUBBER PROCESSING MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 119WAXES 120TABLE 39 CANDLES, CRAYONS, WAXES MANUFACTURING SALES, THROUGH 2017 ($MILLIONS) 120FIGURE 31 CANDLES, CRAYONS, WAXES MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 121DERIVATIVES 121FIGURE 32 MAJOR FATTY ACID DERIVATIVES 122TABLE 40 COMPARISON OF MINERAL OIL VS. FATTY ACID ESTERS FOR LUBRICANTAPPLICATIONS 123TABLE 41 TYPICAL DIMER AND ISOSTEARIC ACIDS YIELD (%) 124TABLE 42 COMMON TYPES OF FATTY ACID HYDROPHOBES 124TABLE 43 DERIVATIVES MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 125FIGURE 33 DERIVATIVES MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 125OTHERS 126TABLE 44 OTHERS MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 126FIGURE 34 OTHERS MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 126SURFACTANT ALTERNATIVES BASED ON FERMENTATION TECHNOLOGY 127RAW MATERIAL OVERVIEW 128SPLIT OF FATS AND OILS CONSUMED IN FATTY ACID 128TABLE 45 PERCENTAGE OF RAW MATERIAL BASED FATTY ACID CONSUMED, 2008-2017 (%) 129FIGURE 35 PERCENTAGE OF RAW MATERIAL BASED FATTY ACID CONSUMED, 2008-2017 (%) 129TABLE 46 CHOICE OF MATERIAL FOR SELECTIVE FATTY ACIDS 130FIGURE 36 SPLIT ACROSS TROPICAL OILS, 2008-2017 (%) 130TABLE 47 TROPICAL OILS PRODUCTION, THROUGH 2012 (MILLION METRIC TONNES) 131FIGURE 37 TROPICAL OILS PRODUCTION, 2008-2012 (MILLION METRIC TONNES) 131BIODIESEL IMPACT ON RAW MATERIAL AVAILABILITY 132ANIMAL RAW MATERIAL 132TABLE 48 ANIMAL FATS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 133FIGURE 38 ANIMAL FATS CONSUMED IN FATTY ACID PRODUCTION, 2008-2017 (%) 133TABLE 49 ANIMAL FAT FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 134FIGURE 39 ANIMAL FAT FATTY ACID MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 134TROPICAL OILS OVERVIEW 135TABLE 50 TROPICAL OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 136FIGURE 40 TROPICAL OILS CONSUMED IN FATTY ACID PRODUCTION, 2008-2017 (%) 136TABLE 51 TROPICAL OILS FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($MILLIONS) 137FIGURE 41 TROPICAL OILS FATTY ACID MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 137SOFT OILS OVERVIEW 138TABLE 52 SOFT OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 139FIGURE 42 SOFT OILS CONSUMED IN FATTY ACID PRODUCTION, 2008-2017 (%) 139TABLE 53 SOFT OILS FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 140FIGURE 43 SOFT OILS FATTY ACID MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 140CRUDE TALL OIL 141KRAFT PAPER MILL PROCESS 141TOFA BASED FATTY ACID 141TABLE 54 CRUDE TALL OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 142FIGURE 44 CRUDE TALL OILS CONSUMED IN FATTY ACID PRODUCTION, 2008-2017 (%) 142TABLE 55 CRUDE TALL OIL FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($MILLIONS) 143FIGURE 45 CRUDE TALL OIL FATTY ACID MANUFACTURING SALES, 2008-2017 ($ MILLIONS) 144TOTAL RAW MATERIAL PICTURE FOR THE FATTY ACID INDUSTRY 144TABLE 56 RAW MATERIAL CONSUMPTION IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 145TABLE 57 RAW MATERIAL FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($MILLIONS) 146GLYCERIN 146GLYCERIN GRADES 147TABLE 58 AVERAGE PRODUCTION OF GLYCERIN BASED ON FATS AND OILS COMPOSITION($ MILLIONS) 148FIGURE 46 TYPICAL HYDROLYSIS OF TALLOW 148TABLE 59 AMOUNT OF GLYCERIN LIBERATED BY VARIOUS FATS AND OILS 149TABLE 60 AMOUNT OF GLYCERIN LIBERATED RELATIVE TO FATTY ACID YIELD 149TABLE 61 GLYCERIN PRODUCTION FROM NATURAL FATTY ACIDS, THROUGH 2017 (%) 150TABLE 62 GLYCERIN PRODUCTION BASED ON NATURAL FATTY ACID, 2011 (%) 151TABLE 63 GLYCERIN PRODUCTION BASED ON NATURAL FATTY ACID, 2017 (%) 151BIODIESEL IMPACT ON GLYCERIN MARKET 151TABLE 64 GLOBAL BIODIESEL PRODUCTION, THROUGH 2011 (%) 152FIGURE 47 GLOBAL BIODIESEL PRODUCTION, 2008-2011 (%) 152GLYCERIN APPLICATIONS 153TABLE 65 MAJOR ESTABLISHED GLYCERIN APPLICATIONS 154New Outlets for Glycerin 155OVERVIEW OF GLYCERIN PRICES 156TABLE 66 AVERAGE GLYCERIN PRICE PER METRIC TONNE, THROUGH 2012 ($) 156FIGURE 48 AVERAGE GLYCERIN PRICE PER METRIC TONNE, 2005-2012 ($) 156OLEOCHEMICAL BASED GLYCERIN MANUFACTURING SALES VALUE 157TABLE 67 GLYCERIN MANUFACTURING SALES BASED ON NATURAL FATTY ACIDPRODUCTION, THROUGH 2017 ($ MILLIONS) 157FIGURE 49 GLYCERIN MANUFACTURING SALES BASED ON NATURAL FATTY ACIDPRODUCTION, 2011-2017 ($ MILLIONS) 157

CHAPTER 5 LEGISLATION 160

INTERNATIONAL GUIDELINES AND LEGISLATION 161

HAZARD ANALYSIS AND CRITICAL CONTROL POINTS (HACCP) AND GOOD

MANUFACTURING PRACTICE (GMP) 161

ENVIRONMENTAL, HEALTH AND SAFETY (EHS) 161

GLOBALLY HARMONIZED SYSTEM OF CLASSIFICATION AND LABELLING OF

CHEMICALS (GHS) 161

FIGURE 50 EXAMPLE OF GHS LABELLING 162

FIGURE 51 EXAMPLE OF GHS LABELLING 162

EUROPE 163

Raw Materials, Renewables, Energy 163

Animal Byproduct Regulation (ABPR) 164

TABLE 68 ABPR RISK CATEGORIES 165

Renewable Energy and Biofuels 166

REACH 168

VOC Solvents Emissions 169

AMERICAS 170

North America 170

Renewable Fuel Policies 170

Safe Cosmetics Act 171

EU ABPR Effects NAM/USA 172

Import Regulations 172

Latin America 173

Brazil 173

ASIA 173

Indonesia 173

Palm Oil Stimulation Plans and Regulations 173

Malaysia 175

Import and Export Regulations 175

Renewable Fuels Policy 175

India 176

Import Regulations 176

China 176

Import Regulations 176

CHAPTER 6 TECHNOLOGY AND CHEMISTRY OF FATTY ACIDS 178HISTORY 178FIGURE 52 THE PRINCIPLE MODEL OF HISTORIC OIL LAMP HAS ALWAYS REMAINED THESAME 178COMPOSITION AND TECHNOLOGY DEVELOPMENTS 178CHEMICAL COMPOSITION AND STRUCTURE OF FATTY ACIDS 179SHORT, MIDDLE AND LONG CHAIN FREE FATTY ACIDS 180TABLE 69 EXAMPLES OF SATURATED FATTY ACIDS AND TWO EXAMPLES OFUNSATURATED FATTY ACIDS 181Conjugated Linoleic Acid 181FIGURE 53 VISUALIZATION CIS AND TRANS 182TABLE 70 EXAMPLES OF UNSATURATED FATTY ACIDS 183SOURCES OF FATTY ACIDS 183FIGURE 54 A TRIGLYCERIDE MOLECULE (C63H12 2O6) 184NATURAL SOURCES OF FATS AND OILS 184Vegetable 184Animal 185DIFFERENT SOURCES AND EXCEPTIONS 185PRODUCTION OF FATTY ACIDS FROM FATS AND OILS 186SPLITTING OR HYDROLYSIS 186Saponification or Soap Boiling 186FIGURE 55 SIMPLE VISUALIZATION OF SOAP BOILING PROCESS 186Twitchell Process 187FIGURE 56 SIMPLE VISUALIZATION OF TWITCHELL PROCESS 187Autoclave or In-batch Splitting 188FIGURE 57 SIMPLE VISUALIZATION OF AUTOCLAVE OR IN-BATCH SPLITTING 189Colgate-Emery Process 189FIGURE 58 SIMPLE VISUALIZATION OF (COLGATE-EMERY) SPLITTING PROCESS 189Splitting of Specific Delicate Unsaturated Fatty Acids 190FIGURE 59 FATTY ACID AND GLYCERIN PRODUCING REACTIONS 190Byproduct Glycerin (aka Glycerol) 191SEGREGATION, PURIFICATION, HYDROGENATION 191Segregation vs. Separation 192Distilled Fatty Acids 192FIGURE 60 SIMPLE VISUALIZATION OF DISTILLATION PROCESS 192Segregation of Raw Fatty Acids into Solids and Liquids 193Historic Method: Pressing 193Emersol Process 193Solexol Process 193Wet Separation Process 194Follow-up 194Hydrogenation 194FIGURE 61 SIMPLE VISUALIZATION OF HYDROGENATION PROCESS 195GLYCERIN BACKGROUNDS AND PROCESSES 195CHEMISTRY AND TECHNOLOGY 196GLYCERIN RECOVERY 196PURIFICATION 197CHEMISTRIES OF GLYCERIN 198USES OF GLYCERIN 198FATTY ACIDS REACTIONS AND DERIVATIVES 198SALT FORMATION 198ESTER FORMATION 199FIGURE 62 SIMPLE VISUALIZATION OF A COMMON ESTERIFICATION PROCESS 199Numerous Applications 200Transesterification 200FIGURE 63 SIMPLE VISUALIZATION OF TRANSESTERIFICATION PROCESS 201NITROGEN DERIVATIVES OF FATTY ACIDS 201REDUCTION 202HALOGENATION 203REACTIONS ON THE HYDROCARBON CHAIN 203Sulfation 203Sulfonation 203Sulfurization 204Oxidation 204Polymerization 204Combustion 205Reactions of Castor Oil and its Fatty Acids 205

CHAPTER 7 PATENTS AND NEW TECHNOLOGIES, TRENDS IN FATTY ACID TECHNOLOGY 208

INTRODUCTION 208

HIGHLIGHTS OF RESEARCH PROJECTS AND PROGRAMS 208

ALGAE 209

ENZYMES AND MICROORGANISMS 209

HIGH ERUCIC ACID RAPESEED (HEAR) 210

HIGH OLEIC SUNFLOWER (HOS) 211

GLYCERIN 212

PATENT SEARCHES 212

APPLICATIONS IN INCLUDED PATENTS 213

TABLE 71 U.S. PENDING NATURAL FATTY ACID PATENTS LISTED ALPHABETICALLY BY

COMPANY NAME AND YEAR (REGISTERED IN DIFFERENT COUNTRIES OR AS WORLD

PATENT)

213

TABLE 72 EXAMPLES OF NATURAL FATTY ACID PATENTS LISTED ALPHABETICALLY ON

COMPANY NAME AND YEAR (REGISTERED IN DIFFERENT COUNTRIES OR AS WORLD

PATENT)

223

CHAPTER 8 COMPANY PROFILES 236INTRODUCTION 236MAJOR GLOBAL NATURAL FATTY ACIDS PLAYERS 237FIGURE 64 CURRENT SHARES OF GLOBAL MAJOR PLAYERS, 2012 (%) 238FIGURE 65 ESTIMATED FUTURE SHARES OF GLOBAL MAJOR PLAYERS (%) 239COMPANY PROFILES 239AARHUSKARLSHAMN AB (AAK) 240Recent Developments 240A. AZEVEDO INDUSTRIA E COMÉRCIO DE ÓLEOS LTDA. 241ABITEC CORPORATION (ASSOCIATED BRITISH INGREDIENT TECHNOLOGIES) 241Recent Developments 242ACIDCHEM INTERNATIONAL SDN. BHD. 242ACME-HARDESTY 243ADEKA CORPORATION 243ADVANCED ORGANIC MATTER S.A. (AOM) 243AKZONOBEL / BOXING CHEMICAL CHINA 244ALEMDAR KIMYA ENDÜSTRISI A.S. 244ALLOCCO 245AMBROGIO PAGANI SPA 245ARIZONA CHEMICALS 246Products and Applications 246Recent Developments 246ASHLAND INC. 247AURORA ALGAE 247BAERLOCHER GMBH 248Recent Developments 248BAKRIE SUMATERA 248Recent Developments 249BASF CORPORATION 249Recent Developments 249BEHN-MEYER HOLDING AG 250BERG+SCHMIDT GMBH & CO. KG 250Recent Developments 251PT. BINA KARYA PRIMA 251BRAIDO; GRUPO BRAIDO INDÚSTRIA AGROQUIMICA 251BRASWEY S.A. INDUSTRIA E COMERCIO 252CAILA Y PARES, SA 252CAROTECH BHD. 252CERALIT S.A. INDUSTRIA E COMERCIO 253CHANT OIL CO. LTD. 253CHEMITHON CORPORATION 254CHEMOL COMPANY INC. 254CHEMPRI OLEOCHEMICALS 255CHEMREZ TECHNOLOGIES INC. 255Recent Developments 255CHIBA FATTY ACID CO. LTD. 256CHRISTEYNS OLEOCHEMICALS (CHRISTEYNS NV) 256Recent Developments 257CISADANE RAYA CHEMICALS, PT (CRC) 257COLGATE-PALMOLIVE (INDIA) LTD. 257COMMODITY TRADING S.R.O. 258CREMER OLEO 258Recent Developments 259CRODA INDUSTRIAL CHEMICALS 259Recent Developments 260CROWN IRON WORKS COMPANY 260Recent Developments 260DAVY PROCESS TECHNOLOGY LTD. 260DERICHEM (MALAYSIA) SDN. BHD. 261DERIVES RESINIQUES ET TERPENIQUES SA, LES (DRT) 261DESMET BALLESTRA OLEO 262Recent Developments 262DONGMA OILS AND FATS / DONGMA OLEOCHEMICALS CO LTD 262(PT.)DUA KUDA INDONESIA 263EASTMAN CHEMICAL 263ECOGREEN OLEOCHEMICALS, PT 263Recent Developments 264ECOPROCESSORS INTERNATIONAL LIMITED 264ELEVANCE RENEWABLE SCIENCES INC. 264Recent Developments 265EMERY OLEOCHEMICALS 266Recent Developments 267ESTEARINA PARANAENSE, CIA. COMPANHIA 268EVONIK GOLDSCHMIDT 268FACI SPA 269FATTY CHEMICAL (MALAYSIA) SDN. BHD. 269FELDA GLOBAL VENTURES HOLDINGS SDN BHD (FGV) 269FELDA IFFCO SDN. BHD. 270FELDA IFFCO LLC. 270FELDA IFFCO OIL PRODUCTS SDN. BHD. 271FERRO CORPORATION 271FORCHEM OY 272Recent Developments 272FPG OLEOCHEMICALS SDN. BHD. 272GEORGIA-PACIFIC LLC (GP) 273GLYCONA S.R.O. 273Recent Developments 273GODREJ INDUSTRIES LTD 274Recent Developments 274HANGZHOU OIL AND FAT CHEMICAL CO., LTD. 274Recent Developments 275HARIMA CHEMICALS 275Recent Developments 276HB INTERNATIONAL SAS 276HK FINECHEM LTD. 276HOBUM OLEOCHEMICALS GMBH 277HUDONG HOUSEHOLD AUXILIARIES COMPANY LIMITED 277INTER-CONTINENTAL OILS AND FATS PTE. LTD. (ICOF) 278IFFCO EMIRATES REFINING COMPANY LTD. 278IMPERIAL INDUSTRIAL CHEMICALS (THAILAND) CO., LTD. (IIC) 279IMPERIAL-OEL-IMPORT - IOI 279INDUSTRIA CAMPINEIRA DE SABÃO E GLICERINA (CAMPINEIRA) 280INTERMED SDN. BHD. 280IOI OLEOCHEMICAL INDUSTRIES BHD. 280Recent Developments 281INDUSTRIAL OLEOCHEMICAL PRODUCTS, (IOP) 281JAYANT AGRO-ORGANICS LIMITED 282Recent Developments 282JIANGSU JINMA OIL TECHNOLOGY DEVELOPMENT CO., LTD. 282JIANGSU NEW HUAMING OLEOCHEMICAL CO., LTD. 283JIANGSU YONGLIN OLEOCHEMICAL CO., LTD 283JINAN HAOHUA INDUSTRY CO., LTD 284JNJ OLEOCHEMICALS INC. 284Recent Developments 284JOCIL LIMITED 285KAO OLEOCHEMICAL 285KAO OLEOCHEMICAL (MALAYSIA) SDN. BHD. 285Kao Penang Group 286Recent Developments 286KASHIMA CHEMICAL CO. LTD 286KEMIRA CHEMIE GES.MBH 287KERRY OLEOCHEMICAL SHANGHAI CO. LTD. 287Recent Developments 287KEWALRAM OILS SDN. BHD. / KEWALRAM CHANRAI 288KLK OLEOCHEMICALS (KUALA LUMPUR KEPONG BERHAD) 288Products and Brands 289Recent Developments 289KULIM (MALAYSIA) BHD 290LAMBERTI ITALIA SPA 290LANXI JIABAO CHEMICAL INDUSTRY CO. 291LASCARAY S.A. 291LG CHEMICALS 291LIAOYANG HUA XING 292LURGI GMBH 292MARTEK BIOSCIENCES 293Recent Developments 293MATERIA OLEOCHEMICALS ARGENTINA 293MATRIX OLEOCHEM SDN. BHD. 294MAZZONI 294MEADWESTVACO (MWV) 294MERIDIONAL TCS IND. E COM DE OLEOS S/A 295Recent Developments 295MIGASA 296MIRACEMA NUODEX INDUSTRIA QUIMICA LTDA. 296MIRACHEM SRL 297MISSION NEWENERGY LTD. 297MUDPETROL S.R.L. 297MUSIM MAS 298Recent Developments 298MIYOSHI OIL AND FAT CO., LTD. 299NANJING CJJY OLEO CHEMICAL CO, LTD 299NANJING XINXU INDUSTRY LIMITED COMPANY 299NATURAL OLEOCHEMICALS SDN. BHD. (NATOLEO) 300NEW JAPAN CHEMICAL CO., LTD. (NJC) 300NIMIR INDUSTRIAL CHEMICALS 301NORDISCHE ÖLWERKE (WALTER) CARROUX GMBH 301NOVANCE 302OLEO CHEMICAL A.S. 302OLEOCHEM INDIA PVT. LTD 303OLEOMUD, COMPAÑÍA QUÍMICA 303OLEON N.V. 303Recent Developments 304OLEOQUIMICA BRAZIL 304OXITENO 305Recent Developments 305PACIFIC OLEO / PACIFIC OLEOCHEMICALS SDN. BHD. 306PAN-CENTURY OLEOCHEMICALS SDN. BHD. 306PT. PERKEBUNAN NUSANTARA III 307Recent Developments 307PERMATA HIJAU GROUP 307PETER GREVEN GMBH & CO. KG 308Recent Developments 308PILIPINAS KAO 309PMC BIOGENIX 309Recent Developments 310PRIGNITZER CHEMIE GMBH 310PRIMO OLEOCHEMICALS, INC. 310PROCTER & GAMBLE CHEMICALS 311Recent Developments 311PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED (PTTCH) 311QUIMIC S.A. DE C.V. 312RAJ CHEMICALS 312RESITEC INDUSTRIAL QUIMICA LTDA. 313RIKEVITA SDN BHD 313(RUGAO) SHUANGMA CHEMICAL CO. LTD. 314SAUDI BASIC INDUSTRIES CORPORATION (SABIC) 314SAKAMOTO ORIENT CHEMICALS CORP. (SOCC) 315SAKAMOTO YAKUHIN KOGYO CO., LTD. 315SEGEZHA PPM 315SERVOTECH INDIA LTD. 316SETUZA A.S. 316SHANGHAI SOAP CO. LTD 317SICHUAN TIANYU OLEOCHEMICAL CO., LTD. 317SIME DARBY 317Recent Developments 318SIMESTEARINA 318SINAR OLEOCHEMICAL INTERNATIONAL, PT SOCIMAS 318PT SINERGI OLEO NUSANTARA 319SMARANA OLEO CHEMICALS SDN. BHD. 319SO.G.I.S INDUSTRIA CHIMICA S.P.A. 319SOLAZYME INC. 320Recent Developments 320SOUTHERN ACIDS 320SREE RAYALASEEMA ALKALIES AND ALLIED CHEMICALS LTD. 321PT SUMI ASIH 321SUNSHINE OLEOCHEMICALS LTD. 322SWEE KEE M&E AND CONSTRUCTION SDN. BHD. 322SYMEX 322Recent Developments 323TAIKO PALM OLEO 323TALLOW PRODUCTS PTY. LTD. 324TECK GUAN OLEOCHEMICAL 324THAI KAWAKEN CO., LTD. / TK WAX 324THAI OLEOCHEMICALS 325TIANZHU CHEMICAL FERTILIZER CO. 325TIMUR OLEOCHEMICALS 326TRIVEDI ENTERPRISES PVT. LTD. 326TWIN RIVERS TECHNOLOGIES (FELDA COMPANY) 326UNION DERIVAN, SA (UNDESA) 327Recent Developments 328UNITED COCONUT CHEMICALS INC. 328VALE MINING 328VANTAGE OLEOCHEMICALS 329Recent Developments 329VVF LTD. 330Recent Developments 330WILMAR INTERNATIONAL LIMITED 330Recent Developments 331WUJIANG JINYU LANOLIN CO., LTD. 332YIHAI(LIANYUNGANG)OLEOCHEMICAL IND. 332YUEYANG CH-CHENG OLEOCHEMICALS CO. LTD. 332ZIBO FENBAO CHEMICAL CO., LTD./ZIBO KEHONG GREASE CO., LTD. 333

LIST OF TABLES

SUMMARY TABLE GLOBAL MARKET FOR NATURAL FATTY ACIDS THROUGH 2017 ($

MILLIONS) 11

TABLE 1 AN OVERVIEW OF OLEOCHEMICALS 18

TABLE 2 NATURAL SATURATED FATTY ACIDS WITH CARBON CHAIN LENGTH, CHEMICAL

STRUCTURE AND EXAMPLES OF ORIGIN 21

TABLE 3 NATURAL UNSATURATED FATTY ACIDS WITH CARBON CHAIN LENGTH, CHEMICAL

STRUCTURE AND EXAMPLES OF ORIGIN 21

TABLE 4 WORLD PRODUCTION OF OILS AND FATS BY SOURCE, THROUGH 2017 (MILLION

METRIC TONS) 33

TABLE 5 WORLD PRODUCTION OILS AND FATS BY REGION, THROUGH 2017 (MILLION

METRIC TONS) 38

TABLE 6 COMPOSITION AND PROPERTIES OF NATURAL OILS AND FATS 42

TABLE 7 SELECTED PROPERTIES OF SATURATED FATTY ACIDS 48

TABLE 8 SELECTED PROPERTIES OF UNSATURATED FATTY ACIDS 52

TABLE 9 PROPERTIES OF GLYCERIN 53

TABLE 10 EXAMPLE OF PROPERTIES TOFA 54

TABLE 11 SELECTION OF MERGERS AND ACQUISITIONS WITH AN IMPACT IN THE FATTY

ACIDS AND DERIVATIVES INDUSTRY 64

TABLE 12 CAPACITY CHANGE ANNOUNCEMENTS 66

TABLE 13 SNAPSHOT OF BASE FATTY ACID CAPACITY BY REGION, 2011 (MILLION METRIC

TONS) 86

TABLE 14 BASE FATTY ACID CONSUMPTION, THROUGH 2017 (%*) 87

TABLE 15 TYPICAL APPLICATIONS FOR OLEIC ACID AND ITS SIMPLE DERIVATIVES 89

TABLE 16 REAL DOMESTIC PRODUCT GROWTH RATES, 2008-2017 (%) 90

TABLE 17 SPLIT OF FATTY ACID TYPES ACROSS REGIONS IN TERMS OF CONSUMPTION, 2011 (%) 93

TABLE 18 EXAMPLES OF DISTILLED FATTY ACIDS 94

TABLE 19 EXAMPLES OF POLYUNSATURATED FATTY ACIDS 95

TABLE 20 DFA AND PUFA MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 95

TABLE 21 EXAMPLES OF FRACTIONATED FATTY ACIDS 97

TABLE 22 FFA MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 97

TABLE 23 EXAMPLES OF STEARIC FATTY ACIDS 99

TABLE 24 STEARIC ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 99

TABLE 25 EXAMPLES OF OLEIC FATTY ACIDS 101

TABLE 26 OLEIC ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 101

TABLE 27 AVERAGE PRICE FOR DIFFERENT FATTY ACID TYPES, 2008-2011 ($/POUND) 103

TABLE 28 AVERAGE PRICE FOR DIFFERENT FATTY ACID TYPES THROUGH 2017 ($/POUND) 105

TABLE 29 APPLICATION VALUE OF FATTY ACIDS: MANUFACTURING LEVEL THROUGH 2017

($ MILLIONS) 106

TABLE 30 ANIMAL MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 108

TABLE 31 COSMETICS AND TOILETRIES MANUFACTURING SALES THROUGH 2017 ($

MILLIONS) 109

TABLE 32 HOME, INDUSTRIAL AND INSTITUTIONAL MANUFACTURING SALES, THROUGH

2017 ($ MILLIONS) 111

TABLE 33 EMULSION POLYMERIZATION MANUFACTURING SALES, THROUGH 2017 ($

MILLIONS) 112

TABLE 34 LUBRICANT MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 114

TABLE 35 ORE PROCESSING MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 115

TABLE 36 RESINS MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 116

TABLE 37 TEXTILE SOFTENERS (FABRIC SOFTENERS) MANUFACTURING SALES, THROUGH

2017 ($ MILLIONS) 118

TABLE 38 RUBBER PROCESSING MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 119

TABLE 39 CANDLES, CRAYONS, WAXES MANUFACTURING SALES, THROUGH 2017 ($

MILLIONS) 120

TABLE 40 COMPARISON OF MINERAL OIL VS. FATTY ACID ESTERS FOR LUBRICANT

APPLICATIONS 123

TABLE 41 TYPICAL DIMER AND ISOSTEARIC ACIDS YIELD (%) 124

TABLE 42 COMMON TYPES OF FATTY ACID HYDROPHOBES 124

TABLE 43 DERIVATIVES MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 125

TABLE 44 OTHERS MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 126

TABLE 45 PERCENTAGE OF RAW MATERIAL BASED FATTY ACID CONSUMED, 2008-2017 (%) 129

TABLE 46 CHOICE OF MATERIAL FOR SELECTIVE FATTY ACIDS 130

TABLE 47 TROPICAL OILS PRODUCTION, THROUGH 2012 (MILLION METRIC TONNES) 131

TABLE 48 ANIMAL FATS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 133

TABLE 49 ANIMAL FAT FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 134

TABLE 50 TROPICAL OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 136

TABLE 51 TROPICAL OILS FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($

MILLIONS) 137

TABLE 52 SOFT OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 139

TABLE 53 SOFT OILS FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($ MILLIONS) 140

TABLE 54 CRUDE TALL OILS CONSUMED IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 142

TABLE 55 CRUDE TALL OIL FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($

MILLIONS) 143

TABLE 56 RAW MATERIAL CONSUMPTION IN FATTY ACID PRODUCTION, THROUGH 2017 (%) 145

TABLE 57 RAW MATERIAL FATTY ACID MANUFACTURING SALES, THROUGH 2017 ($

MILLIONS) 146

TABLE 58 AVERAGE PRODUCTION OF GLYCERIN BASED ON FATS AND OILS COMPOSITION ($ MILLIONS) 148

TABLE 59 AMOUNT OF GLYCERIN LIBERATED BY VARIOUS FATS AND OILS 149

TABLE 60 AMOUNT OF GLYCERIN LIBERATED RELATIVE TO FATTY ACID YIELD 149

TABLE 61 GLYCERIN PRODUCTION FROM NATURAL FATTY ACIDS, THROUGH 2017 (%) 150

TABLE 62 GLYCERIN PRODUCTION BASED ON NATURAL FATTY ACID, 2011 (%) 151

TABLE 63 GLYCERIN PRODUCTION BASED ON NATURAL FATTY ACID, 2017 (%) 151

TABLE 64 GLOBAL BIODIESEL PRODUCTION, THROUGH 2011 (%) 152

TABLE 65 MAJOR ESTABLISHED GLYCERIN APPLICATIONS 154

TABLE 66 AVERAGE GLYCERIN PRICE PER METRIC TONNE, THROUGH 2012 ($) 156

TABLE 67 GLYCERIN MANUFACTURING SALES BASED ON NATURAL FATTY ACID

PRODUCTION, THROUGH 2017 ($ MILLIONS) 157

TABLE 68 ABPR RISK CATEGORIES 165

TABLE 69 EXAMPLES OF SATURATED FATTY ACIDS AND TWO EXAMPLES OF UNSATURATED

FATTY ACIDS 181

TABLE 70 EXAMPLES OF UNSATURATED FATTY ACIDS 183

TABLE 71 U.S. PENDING NATURAL FATTY ACID PATENTS LISTED ALPHABETICALLY BY

COMPANY NAME AND YEAR (REGISTERED IN DIFFERENT COUNTRIES OR AS WORLD

PATENT) 213

TABLE 72 EXAMPLES OF NATURAL FATTY ACID PATENTS LISTED ALPHABETICALLY ON

COMPANY NAME AND YEAR (REGISTERED IN DIFFERENT COUNTRIES OR AS WORLD

PATENT) 223

LIST OF FIGURES

SUMMARY FIGURE GLOBAL MARKET FOR NATURAL FATTY ACIDS, 2008-2017 ($ MILLIONS) 11

FIGURE 1 BASIC OVERVIEW OF THE OLEOCHEMICAL INDUSTRY 19

FIGURE 2 SATURATED FATTY ACID 20

FIGURE 3 UNSATURATED FATTY ACID 20

FIGURE 4 GLYCERIN MOLECULE 24

FIGURE 5 ESTER MOLECULE: THE "R" IS THE VARIABLE, COMMONLY AN ACID "REST"

GROUP 27

FIGURE 6 ETHANAMIDE, AN EXAMPLE OF AN AMIDE MOLECULE 29

FIGURE 7 AMINES 29

FIGURE 8 SULFONATE 30

FIGURE 9 ESTIMATED WORLD PRODUCTION OF FATS AND OILS BY SOURCE, 2017 (%) 34

FIGURE 10 ESTIMATED VEGETABLE/ANIMAL FATS AND OILS, 2010 AND 2017 (%) 35

FIGURE 11 ESTIMATED PERCENTAGE OF USAGE OF OILS AND FATS, 2000 AND 2012 (%) 37

FIGURE 12 SPLITTING COLUMN 55

FIGURE 13 RSPO ENTRY PAGE FOR PLAYERS IN THE PALM OIL PRODUCTION SUPPLY CHAIN 77

FIGURE 14 SNAPSHOT OF BASE FATTY ACID CAPACITY, BY REGION, 2011 (MILLION METRIC

TONS) 86

FIGURE 15 BASE FATTY ACID CONSUMPTION, 2008-2017 (%) 87

FIGURE 16 REAL DOMESTIC PRODUCT GROWTH RATES, 2008-2017 (%) 90

FIGURE 17 DFA AND PUFA MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 95

FIGURE 18 FFA MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 98

FIGURE 19 STEARIC ACID MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 100

FIGURE 20 OLEIC ACID MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 101

FIGURE 21 APPLICATION VALUE OF FATTY ACIDS: MANUFACTURING LEVEL, 2008-2017 ($

MILLIONS) 106

FIGURE 22 ANIMAL FEED MANUFACTURING SALES, 2008–2017 ($ MILLIONS) 108

FIGURE 23 COSMETICS AND T

To order this report:Chemical Industry: Global Markets for Oleochemical Fatty Acids

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