July 05, 2022 10:30 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, July 05, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, global Fatty Acid Methyl Esters consumption has increased at a CAGR of roughly 3.8 % over the last half-decade. The global Fatty Acid Methyl Esters market is valued at US$ 18 Bn in 2021 and is expected to reach US$ 29.8 Bn by 2032, expanding at a CAGR of 4.7% between 2022 and 2032.
The features described above, as well as fatty acid methyl ester applications, are expected to drive market expansion throughout the projection period. The fatty acid methyl ester market is projected to be hampered by the limited availability of various sorts of raw materials. Owing to the rising demand for biodiesel, the worldwide fatty acid methyl ester market is predicted to increase significantly over the forecast period.
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Due to its superior qualities, such as reduced harmful emissions, the fatty acid methyl ester is mostly employed as diesel in comparison to ordinary diesel. These are easily biodegradable and hence have a lower environmental impact. They aid in the prevention of environmental problems such as global warming.
Manufacturing activity was interrupted due to supply chain disruptions and workforce shortages, or for safety reasons in order to stop the spread of COVID-19, causing a marketplace recession. End-user sectors, such as food and beverage and paints and coatings, had substantial challenges as a result of the COVID-19 epidemic, including state-wide lockdowns and corporations shifting their sourcing away from China, which impacted the market in near term. The market is expected to develop in the medium term due to rising demand for biodiesel.
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Medium-chain triglycerides became the dominant mass-produced product group for dietetic reasons owing to their prevalence in the food and beverage industry. It has an outsized demand for use as an emulsifier in confectionaries and baking preparations. Because of its steep use in these applications, glyceryl monostearate is going to see a large increase.
Due to its broad usage in automobiles, stationary power generators, and machinery such as construction equipment, farm equipment, and mining equipment, fuel is the most important FAME application sector. The regional fatty acid methyl ester market is predicted to rise due to increased demand for personal care products.
When base chemicals like sodium methoxide, potassium hydroxide, or sodium hydroxide are present, an alkali-catalyzed reaction between methanol and lipids produces FAME, which is employed in the manufacturing of biodiesel and detergents. The most widely accessible biodiesel type in the maritime sector is FAME-based biofuel, which is typically blended with regular marine diesel. FAME's application in the food sector as a thickening and emulsifying agent is projected to increase market prospects. Because FAME is commonly employed as a solvent in coatings, the increased popularity of stain resistant coatings bodes well for overall expansion of FAME in this end-use sector.
Due to the presence of several companies with no major market share, the fatty acid methyl ester market is fragmented. Univar Solutions, Larodan Inc., TCI Chemicals (India) Pvt. Ltd, BASF SE, and Elevance are some of the key companies in Fatty Acid Methyl Esters Market.
Some of the recent developments of key Fatty Acid Methyl Ester providers are as follows:
• In 2020, Dow, a global chemical business based in the United States, had USD 7.95 billion in sales in its Performance Materials and Coatings sector.
• In July 2020, ABITEC Corporation, a subsidiary of ABF Ingredients, announced that it has acquired Larodan AB, a manufacturer and international marketer of high-purity research grade lipids.
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Market Segments Covered in Fatty Acid Methyl Ester Market Analysis
Fact.MR, presents an impartial analysis of the global fatty acid methyl esters market, in its new report, presenting historical market data for the years 2017-2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights Application (Fuels, Metalworking Fluids, Lubricants, Food & Agriculture, Coating) across major regions of the world (North America, Latin America, Europe, APAC, and Middle East & Africa).
Future Market Insight’s Domain Knowledge in Chemicals and Materials Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals and Materials domain team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Chemicals and Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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