22 October 2013 18:26 [Source: ICIS news]
PRAGUE (ICIS)--Future demand for fatty acids in the branded soap market is showing its strongest growth in Asia, an industry executive said on Tuesday.
The predominant bar soap markets are now the emerging economies, and that developed nations preference was towards liquid soaps, said Tanuj Roy, managing director of Evyap Sabun. He was speaking at the 9th ICIS World Oleochemicals Conference in Prague.
“50% of the world’s total bar soap market is currently in the Asia region,” he said.
With both demand and supply of vegetable-based fatty acids shifting to Asia, Roy added that “this is putting pressure on profitability”.
With the oleochemical industry expected to grow at an estimated 17m tonnes in five years and China and India to drive demand growth, Roy expects southeast Asia will be the ideal production base for these emerging opportunities.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections