Global Fatty Esters Industry

Global Fatty Esters Industry

  • February 2022 •
  • 635 pages •
  • Report ID: 5485910 •
  • Format: PDF
Abstract:

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Global Fatty Esters Market to Reach US$2.5 Billion by the Year 2026

Fatty acid esters, variants of esters, combine fatty acids and alcohol, wherein the alcohol part comprises of glycerol; leading to the production of monoglycerides, diglycerides, as well as triglyceride variants. A major factor driving growth in the market is growing demand from several end-user industries such as cosmetics, personal care, and food processing. Other growth drivers include growing awareness regarding healthy lifestyle; preventive healthcare gaining significance; growing food, oil and gas, and personal care industries; new applications of naturally produced or organic products as well as new product launches; un-penetrated and under-penetrated market condition; increasing purchasing power; players` expansion activities; as well as an increasing demand for nutrient-rich and healthy products for end users. Owing to the excellent emulsification and superior surfactant capabilities, fatty esters have become the material of choice for surfactants and specialty emollients in a broad spectrum of industries, ranging from agriculture, food, pharmaceutical, metal treatment, lubricants to personal care and cosmetics, and plastics.

Amid the COVID-19 crisis, the global market for Fatty Esters estimated at US$2 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 4.1% over the analysis period. GMS, one of the segments analyzed in the report, is projected to grow at a 3.5% CAGR to reach US$898.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the MCT Oil segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 25.1% share of the global Fatty Esters market. Glycerol monostearate, produced from glycerol, is used for various purposes. The market is witnessing an increase in demand for GMS as a protective coating agent, an emulsifying agent, and as a food additive in several industrial and processing applications; thereby driving the growth of the segment. Growth in the MCT Oil segment is driven by developing countries such as India and China that account for an increasing demand through their developing end-user industries. Solvency properties of MCT oil enable its use as solubilizer in perfumes.

The U.S. Market is Estimated at $723 Million in 2021, While China is Forecast to Reach $402.9 Million by 2026

The Fatty Esters market in the U.S. is estimated at US$723 Million in the year 2021. The country currently accounts for a 35.6% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$402.9 Million in the year 2026 trailing a CAGR of 7.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$71.9 Million by the end of the analysis period. Growth in the US market is being driven by increasing awareness of personal hygiene; increase in demand for personal care products as fatty acids are used for producing detergents and soaps; increase in the use of medium chain triglycerides for weight-loss programs. The developments related to shale gas recovery is leading to the increased adoption of fatty esters within the oil and gas sector in the US, fueling demand. Increasing consciousness with regards to aesthetic appeal and personal grooming in the US is attributing to increase in sales for cosmetic products that use fatty esters. Nuclear households with increased per capita income in the emerging markets largely prefer packaged ready-to-eat foods, more so in the last few years. This creates a high demand for packaged functional foods in general, and specialized preservatives, fatty esters, emulsifiers and enzymes in particular. China and India are at the forefront of this growth, as these countries continue to experience increasing economic development as well as increased demand for processed food over the past few years.

IPP & IPM Segment to Reach $512.8 Million by 2026

Isopropyl Palmitate (IPP) & Isopropyl Myristate (IPM) find application as emollients in skin care products. Isopropyl palmitate, a fatty acid ester produced through palm oil, is utilized as an emollient and thickening agent for producing cosmetics that include lotions and creams. The increasing demand for isopropyl palmitate in the cosmetic industry is expected to drive the growth of the fatty acid esters market globally. In the global IPP & IPM segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$326.7 Million in the year 2020 will reach a projected size of US$430.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$51.2 Million by the year 2026, while Latin America will expand at a 5.1% CAGR through the analysis period.

Select Competitors (Total 151 Featured) -
  • Faci Asia Pacific Pte Ltd
  • Fine Organics Industries Ltd.
  • Gattefossé SAS
  • Italmatch Chemical S.p.A
  • IOI Oleochemical Industries Berhad
  • KLK Oleo
  • Larodan AB
  • Lonza Group Ltd
  • P&G Chemicals
  • PMC Biogenix, Inc.
  • Sasol Limited
  • Stéarinerie Dubois
  • Stepan Company
  • Subhash Chemical Industries Private Ltd