Fatty acid ester is a type of ester that results from combining fatty acids with alcohol. The fatty acid esters produced can be triglycerides, diglycerides, or monoglycerides, when the alcohol component is glycerol. Due to their lubricating, resistance to oxidation, & solvency properties, they are widely used across a wide range of applications. They are becoming more popular due to their renewable content, as they are derived from sources such as vegetable oils and animal tallow.
Moreover, due to their good stabilizing and conditioning properties, fatty acid esters are widely used in various end-use industries, such as the pharmaceutical, food, agricultural, detergent, fine chemical, and personal care industries. Compared to the traditional solvents, fatty acids esters have low volatility, which makes them suitable as replacements for solvents in pressroom cleaners, inks, and coatings, as well as in lubricants and metalworking fluids.
The global fatty acid ester market is estimated to account for US$ 2,964.7 Mn in terms of value by the end of 2027, witnessing a CAGR of 4.1% during the forecast period (2020-2027).
Market Drivers:
1. Increasing demand for fatty acid esters from various end-use industries, such as personal care and cosmetics, pharmaceuticals, food processing, etc., is expected to augment the global fatty acid ester market growth over the forecast period.
Fatty acid esters have a wide range of application in the cosmetic and personal care industry and are often used as thickeners and emollients in various cosmetic and personal care products. For instance, in September 2020, Emery Oleochemicals announced the release of its EMERY E general purpose fatty acid esters product line. These esters are a sustainable alternative to petrochemical-based materials and can be used in the formulation of a wide range of consumer and industrial systems.
2. Increasing demand for natural ingredients such as fatty acid esters, coupled with the growing geriatric population, to treat gastrointestinal and other diseases is also expected to drive growth of the global fatty acid ester market.
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Market Opportunities:
1. Increasing demand for detergent and surfactant due to growing awareness among consumers about hygiene is expected to serve major growth opportunities for players in the global fatty acid ester market.
2. Growing popularity of fatty acid esters across various end-user industries is expected to offer profitable opportunities for the global fatty acid ester market.
Market Trends
1. Rising cases of obesity and favourable government initiatives to control obesity and related lifestyle diseases have increased the use of medium chain triglycerides in processed food products, which in turn, driving the global fatty acid ester market growth.
According to the National Health Service (England), around 1 in every 4 adults and around 1 in every 5 children (aged 10 to 11 years) in the United Kingdom are obese. Thus, in July 2020, the U.K. Government launched a package of measures to reduce the prevalence of obesity.
2. Increasing number of working women coupled with the growing demand for male grooming products is also expected to fuel the global fatty acid ester market growth.
According to Catalyst.org, women held around 20.6% of board director seats worldwide in 2020, a small increase from 20.0% in 2019. South Korea, Norway, the Netherlands, Italy, India, Germany, and France are among the countries that have implemented quotas for women on boards of public companies.
Competitive Landscape:
Major players operating in the global fatty acid ester market are Cargill Incorporated, World Chem Industries, the Seydel Companies, Inc., Procter & Gamble (P&G) Chemicals, Oleon NV, KLK Oleo, Fine Organics, Faci Asia Pacific Pte Ltd., Evonik Industries, Estelle Chemicals Pvt Ltd., and E. I. du Pont de Nemours and Company (DuPont).
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Recent Developments:
In March 2020, Matangi industries planned to expand its performance chemicals facility, which includes the production of fatty acid esters.
Market segmentation:
By Product Type:
- Medium Chain Triglyceride Oil
- Glyceryl Monostearate
- Isopropyl Palmitate and Others
By Application:
- Personal Care Products
- Cosmetics
- Lubricants
- Food
- Surfactants and Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Rest of the World
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005644/en/
Global Fatty Acid Ester Market is projected to grow at a CAGR of 4.1% during the forecast period 2020-2027, Says Coherent Market Insights
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