Global fatty acid methyl ester market was valued US$ 18.15 Bn in 2017, and expected to reach US$ 28.3 Bn by 2026, at CAGR of 5.7 % during forecast period.
Global fatty acid methyl ester market
Fatty acid methyl ester is the type of fatty acid ester and it is produced by transesterification of fats with methanol and is used as a primary constituent in biodiesel. Palm oils, Soybean, UGO, sunflower oil, and animal fats are used as raw materials in its production of Fatty Acid Methyl Ester.
Fatty acid methyl ester is largely preferred over conventional diesel on account of its properties such as lower toxic emissions. They are readily biodegradable and thus are less environmentally harmful, and help in curbing problems like global warming. These above properties and applications are anticipated to be key factors driving the global market growth over the forecast period.
Fatty acid methyl ester are used as fuels in vehicles, in machines (construction, mining and farm), stationary power generators, cosmetics, as lubricants, industrial solvents, in pharmaceuticals, as fuel additives and as carriers for fertilizers and pesticides. Furthermore, it is widely used in food industry as a thickening and emulsifying agent. Growing food industry is expected to complement the global market growth.
Fatty acid methyl ester is being increasingly used as a green solvent, since it contains low Volatile Organic Compounds along with being readily biodegradable. Moreover, in leather chemical industry, it is used to produce leather fat liquoring agent, which in turn is used as an excellent textile detergent. Growing detergents demand is expected to growth the global market over the next eight years.
In addition, it has some excellent characteristics such as excellent solubility in organic solvents, good lubricity and high boiling points are increasing its demand in various end-use industries such as metal working fluids, lubricants, solvents, fuels, detergents & surfactants and coating & food several others.
Based on the product, global market segmented into glyceryl monostearate, medium chain triglycerides, polyol esters, glycol esters, isopropyl palmitate and sucrose esters. Medium chain triglycerides emerged as the leading product segment owing to its increasing use in food industry. Glyceryl monostearate is expected to witness rapid growth on account of its growing use as an emulsifier in confectionaries and baking preparations.
Based on applications, the global market segmented into lubricants & fuels, surfactants & detergents, personal care & cosmetics, food and pharmaceutical. Fuel is the major Fatty Acid Methyl Ester application segment on account of its widespread use in vehicles, stationary power generators, machines such as construction equipment, farm equipment and mining equipment. Personal care & cosmetics industry is expected to emerge as the fastest growing segment over the forecast period owing to growing Fatty Acid Methyl Ester demand in lotions, moisturizers and creams. Increasing demand in pharmaceutical formulations and as pesticide & fertilizer in agriculture industry is anticipated to further complement fatty acid methyl ester demand over the forecast period.
North America is expected to register considerable growth over the forecast period primarily driven by high demand from end-use industries in the U.S. High personal care products demand is expected to strengthen the regional market growth. Additionally, regulatory favorability for biodiesel in North America to combat global warming is further projected to complement North American market growth.
The demand for these esters is going to rise in the Asia-Pacific region due to the region’s rapid economic growth and government regulations for the control of the content of volatile organic compounds (VOCs) in the environment. Asia Pacific market is predicted to witness significant growth owing to rapid industrialization coupled with increasing disposable income particularly in China and India along with Southeast Asia.
Key players operating in the global CNG market are Cargill Inc., ADM Company, BASF SE, KLK Oleo, Archer Daniels Midland Company, Wilmar International Limited, Berg Schmidt, Emery Oleochemicals Group, Longyan Zhuoyue New Energy Co. Ltd., Alnor Oil Co. Inc, Avantor Performance Materials, Eastman Chemical Company, FUSHIMI Pharmaceutical Co., The Chemical Company, Velsicol Chemical LLC, Smart Chemicals Group Co., Swastik Industries, Hemadri Chemicals among others.
The report covers total market for fatty acid methyl ester market has been analyzed based on the Porter's five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Scope of Fatty Acid Methyl Ester Market:
Global Fatty Acid Methyl Ester Market, by Product
• Glyceryl Monostearate
• Medium Chain Triglycerides
• Polyol Esters
• Glycol Esters
• Isopropyl Palmitate
• Sucrose Esters
Global Fatty Acid Methyl Ester Market, by Application
• Lubricants & fuels
• Surfactants & detergents
• Personal care & cosmetics
• Food and pharmaceutical
Global Fatty Acid Methyl Ester Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Fatty Acid Methyl Ester Market:
• Cargill Inc.
• ADM Company
• BASF SE
• KLK Oleo
• Archer Daniels Midland Company
• Wilmar International Limited
• Berg Schmidt
• Emery Oleochemicals Group
• Longyan Zhuoyue New Energy Co. Ltd.
• Alnor Oil Co. Inc
• Avantor Performance Materials
• Eastman Chemical Company
• FUSHIMI Pharmaceutical Co.
• The Chemical Company
• Velsicol Chemical LLC
• Smart Chemicals Group Co.
• Swastik Industries
• Hemadri Chemicals
For more information visit: https://www.maximizemarketresearch.com/market-report/global-fatty-acid-methyl-ester-fame-market/23270/
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