Global Fatty Acid Esters Market to Grow at 3.78% During 2024-2032, Impelled by Growing Preference for Biodiesel

December 01, 2022 | Technology & Media

According to the latest report by IMARC Group, titled "Fatty Acid Esters Market Report by Product (Medium Chain Triglycerides (MCT), Glyceryl Monostearate, Isopropyl Esters, Polyol Esters, Sucrose Esters, Glycol Esters, and Others), Application (Personal Care and Cosmetics, Lubricants, Food Processing, Pharmaceuticals, and Others), and Region 2024-2032," the global fatty acid esters market is expected to grow at a CAGR of 3.78% during 2024-2032. Fatty acid esters are industrial products that are produced by dehydrating alkyl alcohol and fatty acids. Additionally, they are renewable in nature since the majority of the products are generated from the kernel, palm, tallow, sunflower, soya and tall oil. They belong to a group of fatty acids that has potential anti-diabetic and anti-inflammatory effects. They have become popular since they are resistant to oxidation, exhibit lubricating properties and have low volatility and renewable content. As a result, they are widely utilized across the globe in the manufacturing of cosmetics, foodstuffs, personal care items, paper, synthetic lubricants and metal working fluids.

Global Fatty Acid Esters Market Trends:

The global market is primarily driven by widespread product adoption across the industrial sector. Along with this, the growing preference for biodiesel due to an enhanced focus on sustainable development is providing a boost to the uptake of fatty acid esters. In line with this, numerous initiatives undertaken by the governments of several countries to promote the adoption of sustainable products are propelling the market favorably. Moreover, the rising investments by public and private agencies to upgrade the overall pharmaceutical industry is providing lucrative growth opportunities in the market. Apart from this, the increasing product utilization in the formulation of numerous cleaning products, including detergents and soaps, is creating a positive market outlook. Additionally, the rising adoption of cosmetics and skin care products among the masses are catalyzing the demand for fatty acid esters on the global level. Furthermore, the escalating manufacturing and sales of commercial and personal vehicles are acting as growth-inducing factors. Other factors, including rapid urbanization and industrialization, continual improvements in the chemical sector and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.

Market Summary:

  • On the basis of the product, the market has been segmented into medium chain triglycerides (MCT), glyceryl monostearate, isopropyl esters, polyol esters, sucrose esters, glycol esters and others.
  • Based on the application, the market has been segregated into personal care and cosmetics, lubricants, food processing, pharmaceuticals and others.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Arkema S.A, Cargill Inc., DuPont de Nemours Inc., Estelle Chemicals Pvt. Ltd., Evonik Industries AG (RAG-Stiftung), Faci Asia Pacific Pte. Ltd., Fine Organics, Oleon NV., P&G Chemicals (The Procter & Gamble Company), Stéarinerie Dubois, Stepan Company and The Seydel Companies Inc.
     

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Arkema S.A, Cargill Inc., DuPont de Nemours Inc., Estelle Chemicals Pvt. Ltd., Evonik Industries AG (RAG-Stiftung), Faci Asia Pacific Pte. Ltd., Fine Organics, Oleon NV., P&G Chemicals (The Procter & Gamble Company), Stéarinerie Dubois, Stepan Company and The Seydel Companies Inc.
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Global Fatty Acid Esters Market to Grow at 3.78% During 2024-2032, Impelled by Growing Preference for Biodiesel
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