Fatty Acid Esters Market Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2030

The Fatty Acid Esters Market size was valued at USD 2.37 billion in 2020 and is predicted to reach USD 3.65 billion by 2030 with a CAGR of 4.3% from 2021-2030.

Fatty acid ester is the type of esters synthesized through dehydration of fatty acid and alkyl alcohol. It is mainly derived from sources such as animal tallow and vegetable oil. Fatty acid esters are used in several industries due to its characteristics such as lubricating properties, solvency and resistance to oxidation. Fatty acid esters are mainly used in the bio-fuel applications, food & beverages, personal care, animal feed, cosmetic, and skincare products among others.

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Competitive Landscape

The market comprises of various players such as are DuPont, Matangi industries LLP, Renewable Energy Group Inc., Estelle Chemicals Pvt. Ltd., Faci Asia Pacific Pte. Ltd., P&G Chemicals, The Seydel Companies, Inc., Fine Organics, Oleon N.V., KLK Oleo, and World Chem Industries. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth and geographical reach. For instance, in March 2021, Renewable Energy Group Inc. collaborated with Optimus technologies with the aim to deliver biodiesel, which is produced by mixing different fatty acid methyl esters, to fleets across the United States. With the help of Optimus’ new technology, biodiesel can be utilized as B100 in fleets. Also, in March 2020, Matangi industries LLP announced expansion plan for their chemical facility, which will include the production of fatty acid esters. After the expansion of their plan, the company’s production capacity has become 14,400 per year.

Market Segmentations and Scope of the Study:

The fatty acid esters market size has been segmented based on product type, application, and geography. Based on the product type, the industry is classified into tall oil fatty acid (TOFA)-based esters, oleates, pelargonates, dimerates, stearates, laureates, palmitates, and others. Based on application they are classified into lubricants, metalworking fluids, cooling liquids, hydraulic fluids, oils, personal care and cosmetic products, food additives, industrial solvents and additives, and others. The lubricants segment is further classified into fuel additives, and lubes and greases. The oils segment is further classified into motor oil, gear oil, and others. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

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Geographical Analysis

Asia-Pacific region holds the lion share of fatty acid esters market at present and is expected to continue dominating the market during the forecast period. This is attributed to factors such as increasing usage of personal care products, cosmetics, and detergents in countries such as China, India, Malaysia, and Japan. These are not only among the large consumers of fatty acid esters but also leading producers across the world. Also, presence of major players such as KLK OLEO, Dupont, DKS Co. Ltd., and P&G Chemicals, boosts the market growth in this region.

However, North America is expected to witness a steady rise in the fatty acid esters market due to improved living standards along with increasing focus on beauty and appearance owing to changing consumer perceptions, and aggressive social media campaigns by personal care companies. Countries in Europe and Latin America have also been witnessing significant growth. This is due to the use of fatty acid esters in the processed food industry as stabilizers.

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