July 19, 2019
Global fatty acid esters market is anticipated to reach USD 1.68 billion by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the biotechnology market based on type, application, end user and region.
As per the report, increasing application in products like detergent, biofuels, personal care products, foodstuffs and more is driving fatty acid esters market growth. Fatty acid esters are a group of organic compounds that are synthesized through esterification of fatty acids with different substances like methanol.
These products hold a significant economic and environmental importance as they are the key components of numerous consumer products and commercial biodiesels. With factors like increasing use of fatty acid esters of methyl in biofuels and possibility of release of biodiesel & fatty acid methyl esters into the environment, the industry is expected to register growth over the coming years.
However, fatty acid esters are not capable of improving the solubility of hydrocarbons such as individual components or like mono or poly aromatic hydrocarbons, as these compounds comprise of low mobility, low aqueous solubility nature, and low volatility.
Nevertheless, the product’s autoxidation mechanisms and hydrolysis could result in the generation of more mobile and equally biodegradable components. With these benefits and growing applications in the end-use products, the demand for fatty acid esters is expected to boost over the forecast period.
In terms of regional share, Asia Pacific emerged as the largest market segment in the global fatty acid ester industry. Rapid growth in industries like food & beverage, chemicals, personal care, etc. are driving demand for fatty acid esters in the region. Moreover, presence of major partakers in countries like China, India, Japan, Malaysia, Indonesia, among others are complimenting Asia Pacific fatty acid esters market growth.
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The U.S. and Europe fatty acid esters market have also witnessed modest growth lately. However, significant increase in rate of industrialization across Asia Pacific has led several manufacturers to turn into key product exporters.
Leading industry players operating in fatty acid esters market includes Longyan Zhuoyue New Energy Co. Ltd., Berg + Schmidt, Emery Oleochemicals Group, Alnor Oil Co. Inc., P&G Chemicals, Wilmar International Ltd., Archer Daniels Midland Co. (ADM), BASF S.E., Cargill Inc., P&G (Procter & Gamble) Chemicals, KLK Oleo, Cargill, The Seydel Companies, Inc., Estelle Chemicals, DuPont, Stepan Co., and World Chem Industries.
The company profiles of these firms are mentioned in the report alongside their business overview, product benchmarking, financials, and recent developments. The report also provides an extensive quantitative and qualitative analysis of potential trends and growth prospects in fatty acid esters market between 2018-2026.