Fatty Acid Esters Market Analysis Report Post COVID-19 Outbreak

Owing to the high demand for oleate-based fatty acid esters during the historical period (2014–2019), due to their application in personal care products and as lubricant additives, the global fatty acid esters market generated $2,240.9 million in 2019. During the forecast period (2020–2030), the market is expected witness a CAGR of 4.6% and, by 2030, reach a valuation of $3,688.9 million.

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The fatty acid ester market has, in recent times, observed a massive shift toward tall-oil fatty acid (TOFA)esters, from tallow-based fatty acid esters (derived from animal fats), especially in countries such as Germany, the U.S.,France, and the U.K. This is primarily due to their low cost and higher availability than the fatty acid esters obtained from animal fats. Furthermore, TOFA esters provide numerous benefits, such as performance at low temperatures and low rosin.

In recent times, there has been an increase in the awareness about bio-lubricants and their benefits, such as their biodegradable nature and excellent lubrication, as a result of which, they have become a perfect alternative to petroleum-based lubricants. Moreover, the utilization of bio-lubricants results in lower emission of toxic fumes, thereby resulting in fewer dermatological problems, in people handling engines and hydraulic systems.

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The personal care & cosmetic products category is expected to record the highest CAGR during the forecast period. The rapidly growing trend of organic personal care & cosmetic products and the increasing consumer expenditure on personal care products, especially in developing countries, is predicted to further shootup the demand for fatty acid esters.

On the basis of region, Asia-Pacific (APAC) was the most productive fatty acid esters market in 2019. This is mainly attributed to the high demand for fatty acid esters from the personal care & cosmetic products ,lubricants, and numerous other industries. These esters are required in surfactants, owing to their emulsifying characteristics, which is why they are suitable for shampoos, detergents, and body washes. With the increase in the disposable income in the developing nations of the region, the demand for organic personal care products has skyrocketed.

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The global fatty acid esters market is partially consolidated and comprises several leading players, such as Wilmar International Ltd., Emery Oleochemicals Group, Temix Oleo Srl, KLK OLEO, and Esterchem Ltd. Matangi Industries LLP announced expansion plans forits performance chemicals facility, which is engagedin the production of fatty acid esters, in 2019. As a result of this massive expansion, the company’s total production capacity is now 14,400 tons per year.

Some other prominent players operating in the market include DKS Co. Ltd., Govi N.V., Kao Corporation, NYCO, and Oleon NV.

Market Segmentation

Based on Product Type
Tall Oil Fatty Acid (TOFA)-Based Esters
Monoesters
Diesters
Polyol esters
Trimethylolpropane (TMP)
Pentaerythritol
Oleates
Pelargonates
Dimerates
Stearates
Laureates
Palmitates

Based on Application
Lubricants
Fuel Additives
Lubes & Greases
Chainsaw lubricants
Marine lubricants
Food-grade lubricants
Metalworking Fluids
Cooling Liquids
Hydraulic Fluids
Oils
Motor oil
Gear oil
Personal Care & Cosmetic Products
Food Additives
Industrial Solvents & Additives

Geographical Analysis
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Asia-Pacific (APAC)
China
Japan
India
Malaysia
Indonesia
Latin America (LATAM)
Brazil
Mexico
Middle East & Africa (MEA)
South Africa
Saudi Arabia
U.A.E.
Turkey

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This release was published on openPR.