Global Fatty Acid Ester Market to reach USD 3.1 billion by 2027.Global Fatty Acid Ester Market is valued approximately at USD 2.3 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2021-2027. Fatty acid esters are a type of ester formed when fatty acid and alcohol combine. The fatty acid esters produced can be monoglycerides, diglycerides, or triglycerides. The market growth is driven by the key factors such as increasing demand for the Fatty Acid Ester in Biofuel applications and growing demand for pharmaceutical products. Increase in the natural components such as FAEs to treat gastrointestinal and other diseases, boost the pharmaceutical sector. For example, Indonesia became the first nation to enforce a B30 mix of palm-based gasoline in December 2019. In 2020, the Indonesian government would allocate 9.59 million kiloliters of FAME to the B30 mandate, up from 6.63 million kiloliters in 2019. Additionally, rise in product launches and joint venture between the market players propel the market growth. For instance, Verbio AG and Indian Oil Corporation Ltd signed an MoU (Memorandum of Understanding) in July 2021. The MoU will look into the prospect of forming a joint venture company that would use Verbio's technology and experience to produce biofuels (biomethane (CBG/BioCNG), bioethanol, and biodiesel) and for marketing these biofuels through Indian Oil's network. However, growing demand for synthetic lubricants, may impede market growth over the forecast period of 2021-2027.
During the projected period, the Asia-Pacific is likely to dominate the fatty acid esters market. The Asia-Pacific region is home to the world's largest manufacturers of fatty acid esters. KLK OLEO, P&G Chemicals, Croda International PLC, Stepan, and Wilmar International Ltd are some of the main producers of fatty acid esters. Also, the oleochemicals demand has increased in recent years owing to rising consumer spending on green goods and increased awareness of the negative effects of chemicals used in cosmetics.
Major market player included in this report are:
Wilmar International Ltd
KLK OLEO
Stepan Company
P&G Chemicals
CREMER OLEO Gmbh & Co. KG
A&A Fratelli Parodi SpA
Croda International PLC
INOLEX Inc.
DuPont Chemical compnay
Renewable Energy Group, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By type:
Fatty Acid Methyl Esters (FAME)
Polyol Esters
Sorbiton Esters
Sucrose Esters
Other Types
By Application:
Synthetic Lubricant
Pharmaceuticals
Personal Care Products
Food
Biofuel Applications
Other Applications
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Fatty Acid Ester Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors