Globally, Is there still a future for hydrogenated vegetable oils (HVO) market?
In High-Efficiency Combustion System. In Personal Care products. In many others……
HVO: WHAT IS IT?
Hydrogenated vegetable oil is made from edible oils extracted from plants, such as olives, sunflowers, and soybeans. Hydrogenated vegetable oil is widely used in many processed foods. Many manufacturers prefer this oil for its low cost and long shelf life. However, According to many scientists, it has several serious side effects on health. Instead of this, it is being used in Cosmetics, Personal Care, and many more applications nowadays, providing many business opportunities.
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The Main Players On The HVO Scene :
The indisputable leader of the global HVO market remains Neste Oil with its four major plants: 3 in Europe and one in Singapore.
The main technology competitor of Neste Oil is Honeywell.
The HVO Technology Runners-Up:
The Major players reported in the market include: Hallstar, AAK AB, BASF, Laboratoires Prod’Hyg, Evonik Dr. Straetmans GmbH, Frank B. Ross, Inc., Res Pharma, etc.
Applications: Fuel, Food Processing, Cosmetics, Personal Care, and many more.
It may be solid or semi-solid. These spreadable oils are used in many baked goods such as cakes and biscuits, margarine, packaged snacks, coffee creamers, pre-made dough, fried foods, potato chips to enhance the taste.
North America and Europe have tremendous usage potential for Hydrogenated vegetable oils in cosmetics and food processing. On the other hand, the Asia-pacific region still remains a stable market with wide use in direct cooking.
Why Big Oil Majors Invest In The HVO Technology?
The limited availability of fossil fuels and the increasing environmental pollution will lead to an increased demand for sustainable biofuels. The production of bio-based diesel fuels is possible using hydrogenated vegetable oils. The profitability of the HVO plant business model is driven by the fact that the final product of the hydro-treatment process is of higher quality.
Apart from the reasons connected to the HVO’s superior quality over regular fossil diesel, the investments are also caused by financial and social reasons.
Although HVO is superior in many ways to regular biodiesel and new investments are booming, especially in Europe, it is quite unlikely to dominate the market in the near future. However, it definitely has the potential to change the way the biodiesel sector looks today.
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