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Fatty Acid Esters Market Overview, Leading Players and Forecast Report by 2030

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In 2019, the global fatty acid esters market generated a revenue of $2,240.9 million and is predicted to progress at a CAGR of 4.6% from 2020 to 2030.

NEW YORK - eTradeWire -- A number of factors, such as the rising consumption of fatty acid esters in the personal care & cosmetics industry, surging awareness of bio-based lubricants, low cost of these esters, and their several environmental benefits, are projected to drive the growth of the fatty acid esters market at a CAGR of 4.6% during the forecast period (2020–2030). According to P&S Intelligence, the market generated revenue of $2,240.9 million in 2019, and it is expected to reach $3,688.9 million by 2030.

One of the major factors driving the demand for fatty acid esters is the growing awareness of the benefits of bio-based lubricants. Due to their excellent lubricity, low emission of toxic pollutants, and biodegradability, bio-based fatty acid esters are being increasingly used as lubricants in hydraulic, metal cutting, and automotive applications. Additionally, these environment-friendly esters are the best alternatives to the conventionally used petroleum-based lubricants, which is why they are rising in preference in numerous industries

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Oleates, tall-oil-fatty-acid (TOFA)-based esters, dimerates, pelargonates, laureates, stearates, and palmitates are the various types of fatty acid esters used across industries. Among these, oleates are consumed in the highest volumes, as they are an important ingredient of several pharmaceutical solvents, lubricants, and personal care products, the demand for all of which is skyrocketing around the world. Fatty acid esters made from oleates are less-volatile and toxic, and they have the ability to keep the end product flowing in cold weather.

During the historical period (2014–2019), Asia-Pacific (APAC) dominated the fatty acid esters industry (https://www.psmarketresearch.com/market-analysis/fatty-acid-esters-market), on account of its huge personal care, lubricant, and agriculture sectors, especially in the developing countries. These chemicals act as emulsifying agents in surfactants, which leads to their high-volume consumption during the manufacturing of body washes, shampoos, and detergents. Additionally, with the increasing disposable income in the region, the demand for organic personal care products, which are more expensive than conventional ones, is rising, thereby driving the requirement for fatty acid esters.

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Hence, with the shift toward bio-based personal care products, cosmetics, automotive fuels, and lubricants, increasing volumes of fatty acid esters will be used around the world.

Vijay Kumar

Source: P&S Intelligence
Filed Under: Business

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