The Global Fatty Esters Market is Projected to Reach US$2.3 Billion by 2024

Stable Demand from Established End-Use Markets to Sustain Consumption of Fatty Esters, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Fatty Esters market. The global Fatty Esters market is projected to reach US$2.3 billion by 2024, driven by stable demand from key end-use applications such as Food, Personal Care and Cosmetics industries.

Fatty esters are derivatives of fatty acids and are used as emollients, emulsifiers, and lubricants in various industries. The cosmetics and personal care sector represents one of the largest end-use markets, with growth supported by the steady rise in consumer spending on appearance maintenance products. A major factor that makes fatty esters a vital ingredient in cosmetics is their cost-effective ability to enhance product functionality by imparting an array of anti-microbial, cleansing, and conditioning properties. Easy dissipative properties of fatty esters enable active ingredients in cosmetics to easily penetrate into the skin, while also reducing greasiness. Unlike synthetic petroleum-based esters, fatty esters are natural and relatively cheaper and are therefore favored by manufacturers seeking to reduce production costs in a competitive market environment. In the food industry, fatty esters are used as food additives and emulsifiers. Use of fatty esters in food processing imparts taste, appeal, stability, freshness, quality, consistency and texture to the food preparation. With fatty esters considered as an effective additive to cut down fat content in food products, the market stands to benefit from the growing trend towards fat reduction in food products. With the focus centered squarely on health and nutrition, manufacturers are investing in R&D to develop innovative products using fatty esters, given their multi-functional attribute, which ensures their use in a broad array of healthy food products.  

The growth in the market will also be driven by emerging new uses of fatty esters in automotive functional fluids and in the production of Biofuel. Fatty acid methyl ester (FAME), a type of fatty acid ester, is nontoxic bio-degradable biodiesel. The growing regulatory pressure encouraging the production and consumption of biodiesel will benefit the market in the coming years. Pure biodiesel minimizes 75% of the emissions of carbon dioxide, which is considered as one of the main greenhouse gases that cause global warming. However, a blend of 20 percent biodiesel can minimize the emissions of carbon dioxide by 15%. Biodiesel offers lubricity to the engine, which increases engine life span. Biodiesel added in any amount to conventional fuel increases engine lubrication and also gives cleaner emissions. Lubricity of the engine can be increased by 65%, when 1% of biodiesel is added to the conventional fuel. Increasing demand for diesel-based automobiles, particularly light vehicles and cars, is one of the factors driving the demand for biodiesel in developed countries. A growing diesel-based automotive market means that more number of vehicles can utilize biodiesel as an alternative fuel, either in pure or blended form.

As stated by the new market research report on Fatty Esters, the US represents the largest regional market worldwide, and is forecast to retain its position throughout the analysis period. Asia-Pacific region is forecast to witness the fastest growth among all regions, with a CAGR of 5.2% over the analysis period, primarily owing to the development of Food as well as Personal Care industries in the region. Other emerging markets such as Latin America are also forecast to grow above the global average. Glyceryl Monostearate represents the largest segment, while Medium Chain Triglyceride Oil is forecast to witness the fastest growth among all segments over the analysis period. Among end-use applications, the Food industry represents the largest application for Fatty Esters, followed by Personal Care & Cosmetics industry. The Personal Care & Cosmetics industry is also forecast to witness the fastest growth, while Functional Fluids applications are forecast to grow in line with the total market.

Major players in the market include ABITEC Corporation, Archer Daniels Midland Company, Akzo Nobel N.V., BASF SE, Croda International Plc, Faci Asia Pacific Pte Ltd, FELDA IFFCO LLC, Fine Organics Industries Ltd., Gattefossé SAS, IOI Oleochemical Industries Berhad, KLK Oleo, Lonza Group Ltd, P&G Chemicals, PMC Biogenix, Inc., Sasol Limited, Stéarinerie Dubois, Stepan Company, Subhash Chemical Industries, and UNION DERIVAN, S.A. among others.

The research report titled "Fatty Esters: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities various players. The single segment report provides market estimates and projections in US$ for Fatty Esters for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Key segments analyzed include Glyceryl Monostearate (GMS), Medium Chain Triglyceride Oil (MCT Oil), Isopropyl Palmitate & Isopropyl Myristate (IPP & IPM), and Other Fatty Esters. End-use applications analyzed include Food, Personal Care & Cosmetics, Functional Fluids, and Other Applications.

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