GVR Report cover Fatty Acid Methyl Ester Market Size, Share & Trends Report

Fatty Acid Methyl Ester Market Size, Share & Trends Analysis Report By Application, By Product, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Report ID: GVR2208
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global fatty acid methyl ester market is expected to witness substantial growth over the forecast period on account of its increasing demand in biodiesel. fatty acid methyl ester (FAME) is generally obtained from vegetable oils through transesterification and is used as a primary constituent in biodiesel. The product is a type of fatty acid ester, produced from an alkali catalyzed reaction of fats and methanol. Soybean, palm oils, UGO, sunflower oil, and animal fats are also used as raw materials in its production. FAME is largely preferred over conventional diesel on account of its properties such as lower toxic emissions. Hence, it is considered to be nontoxic and biodegradable in nature. These above-mentioned properties and applications are anticipated to be key factors driving the global FAME market growth over the forecast period. FAME is widely used in the food industry as a thickening and emulsifying agent. Growing food industry is expected to complement the global fatty acid methyl ester market growth. FAME is being increasingly used in solvent applications as a green solvent since it contains low VOC along with being readily biodegradable. Moreover, in the leather chemical industry, it is used to produce a leather fat liquoring agent, which in turn is used as an excellent textile detergent. Growing detergent demand is expected to further complement the global market growth over the next seven years. Additionally, its characteristics such as excellent solubility in organic solvents, good lubricity, and high boiling points are increasing its demand in various end-use industries such as metalworking fluids, lubricants, solvents, fuels, detergents & surfactants, and coating & food among several others. Hence, its ability to cater to a wide range of end-use industries is expected to further drive the global market growth in the upcoming years. High fatty acid esters cost and consequently high raw material procurement costs are expected to pose challenges to FAME market participants over the next seven years.

On the basis of product, the global market can be broadly segmented into glyceryl monostearate, medium-chain triglycerides, polyol esters, glycol esters, isopropyl palmitate, and sucrose esters. Medium-chain triglycerides emerged as the leading product segment owing to its increasing use in the food industry. Glyceryl monostearate is expected to witness rapid growth on account of its growing use as an emulsifier in confectionaries and baking preparations. Based on end-use applications, the global fatty acid methyl ester market can be classified into lubricants & fuels, surfactants & detergents, personal care & cosmetics, food, and pharmaceutical. Fuel is the major FAME application segment on account of its widespread use in vehicles, stationary power generators, machines such as construction equipment, farm equipment, and mining equipment. The personal care & cosmetics industry is expected to emerge as the fastest-growing segment over the forecast period owing to growing FAME demand in lotions, moisturizers, and creams. Increasing demand in pharmaceutical formulations and as pesticide & fertilizer in the agriculture industry is anticipated to further complement FAME demand over the forecast period.

North America is expected to register considerable growth over the forecast period primarily driven by high demand from end-use industries in the U.S. High personal care products demand is expected to strengthen the regional fatty acid methyl ester market growth. Additionally, regulatory favorability for biodiesel in North America to combat global warming is further projected to complement North American market growth. Asia Pacific market is predicted to witness significant growth owing to rapid industrialization coupled with increasing disposable income particularly in China and India along with Southeast Asia.

Global FAME market is fragmented with major players striving for leadership positions through efficient strategies such as R&D for product development and technological advancements, along with integration through supply chain management. Key players operating in the global fatty acid methyl ester market include Biofuels Corporation, ADM Biodiesel, Diester Industries, Evonik Industries, Cargill, Green Fuels, Biopetrol Industries, Western Lowa Energy, P&G Chemicals, and Novaol.

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