The increasing consumption of personal care products and cosmetics, owing to the surging female working population and escalating consciousness about physical appearance, will create a huge requirement for fatty acid esters in the forthcoming years. These chemicals are being increasingly used as detergent cleansing agents and as emollients and thickeners in skin creams. Additionally, the rising customer awareness about bio-based cosmetics will fuel the consumption of such esters in the personal care and cosmetics industry.
Moreover, the usage of such chemicals as lubricant additives in automotive, metal cutting, and hydraulic applications will help the fatty acid esters market advance at a 4.6% CAGR during 2020–2030. According to P&S Intelligence, the market was valued at $2,240.9 million in 2019, and it is expected to generate $3,688.9 million revenue by 2030. The rapid shift toward bio-based fatty acid esters can be credited to their lower toxicity and excellent lubricity.
At present, fatty acid ester manufacturers are engaging in mergers and acquisitions and geographical expansions to enhance their customer base. For example, in February 2018, KLK Oleo completed the acquisition of Elementis Specialties Netherlands B.V., which manufactures fatty acid polyglycol esters and other chemical products, to strengthen its downstream chemical specialties business in Europe. Furthermore, in 2019, Matangi Industries announced its plan to expand the production capacity of fatty acid esters to 14,400 tons annually.
Apart from these two companies, Esterchem Ltd., Tokyo Chemical Industry Co. Ltd., American eChem Inc., Temix Oleo Srl, and Oleon NV are offering oleates, dimerates, laureates, pelargonates, stearates, palmitates, and tall oil fatty acid (TOFA)-based esters for the lubricants, food additives, personal care, and industrial solvents and additives industries. Nowadays, oleates are consumed in the largest volume due to their increasing application in personal care products, pharmaceutical solvents, and lubricants, owing to their exceptional lubrication, excellent cold flow, and low toxicity and volatility.
Therefore, the burgeoning demand for personal care products and biofuels will propel the consumption of fatty acid esters.
Global Fatty Acid Esters market was valued at USD 1,830.2 million in 2014 and is expected to reach USD 2.44 billion by 2022, with a CAGR of 4.6%.
In the food industry, Medium chain triglycerides (MCT) are used in weight loss programs as they have fat-burning properties and low calorific content.In addition, FEAs such as polyols esters and emollient are gaining importance as they have a positive impact on the growth of bio-based and natural ingredients in personal care and cosmetic industry.
The natural ingredients used in lotions and creams for infant care, hair, and skin, helps in substituting synthetic and toxic chemicals which are harmful for the personal use.
In addition, rising living standards and declining edible oil prices are other drivers projected to fuel the growth of global fatty acid ester market.
GMS is expected to hold the largest market share owing to the high usage in food industry mainly for frozen foods and ice creams as thickening agent and emulsifiers.MCT is estimated to be the fastest growing segment owing to the low-calorie content.
Food industry is estimated to have tremendous growth in coming six years owing to the increasing consumption of these esters in various processed foods.Geographically, the key regions identified in this industry are North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The Global Fatty Acid Esters Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Fatty Acids are a sort of ester that are an outcome from the blend of an unsaturated fat with a liquor.
The key feedstock required in the generation of unsaturated fat esters incorporates vegetable oils, for example, palm oil, sunflower oil and rapeseed oil among others.Increased awareness and demand for bio-diesels is the root factor which is driving the fatty acid esters market globally.
Though there are strong factors driving the industry, availability of cheap substitutes and week supply chain are the reasons which restrict the fatty acid esters industry growth.
Various countries of Asia-Pacific region such as India and China are estimated to be the largest consumers of the industry owing to its considerably increasing demand for fatty acid esters products.Browse the complete Global Fatty Acid Esters Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/1684-fatty-acid-esters-market-reportThe key companies that operate in the Global Fatty Acid Esters market are:Cargill Inc.E.
Ltd.Evonik IndustriesFaci Asia Pacific Pte Ltd.Fine OrganicsKLK OleoOleon NVProcter & Gamble (P) ChemicalsThe Seydel Companies, Inc.World Chem IndustriesSEGMENTATIONS IN REPORT:Fatty Acid Esters By ProductMedium Chain Triglycerides (MCT)Glyceryl MonostearateIsopropyl PalmitateOthers (Including Polyol Esters, Glycol Esters, Sucrose Esters, Etc.
