Fatty Acid Esters Market by Product Type (Tall Oil Fatty Acid (TOFA)-Based Esters, Oleates, Pelargonates, Dimerates, Stearates, Laureates, Palmitates , Others), by Application (Lubricants, Metalworking Fluids, Cooling Liquids, Hydraulic Fluids, Oils, Personal Care and Cosmetic Products, Food Additives, Industrial Solvents and Additives, and Others ) – Global Opportunity Analysis and Industry Forecast 2021-2030

Market Definition:

The Fatty Acid Esters Market size was valued at USD 2.37 billion in 2020 and is predicted to reach USD 3.65 billion by 2030 with a CAGR of 4.3% from 2021-2030. Fatty acid ester is the type of esters synthesized through dehydration of fatty acid and alkyl alcohol. It is mainly derived from sources such as animal tallow and vegetable oil. Fatty acid esters are used in several industries due to its characteristics such as lubricating properties, solvency and resistance to oxidation. Fatty acid esters are mainly used in the bio-fuel applications, food & beverages, personal care, animal feed, cosmetic, and skincare products among others.

Market Dynamics and Trends:

The demand for fatty acid esters has been increasing in the manufacturing of cosmetic and personal care products due to its emollient and thickener qualities, which in turn is driving the global fatty acid ester market growth. Also, factors such as growing public awareness about the benefits of bio-based fatty acid esters and their utilization in various applications such as lubricant additives in metal cutting, hydraulic, and automotive are expected to propel the growth of the market during the forecast period. Moreover, growing obesity rate across the world, increased government interference for support, and reducing rates of edible oils are also some of the factors boosting the market growth. Furthermore, technological advancements have paved the way for higher efficiency and sustainable production of these esters.

However, high cost of raw materials and increasing demand for synthetic lubricants due to its cost-effectiveness are factors expected to restrain the market growth to some extent. On the other hand, growing dependence on fossil fuel and depleting fossil fuel reserves have pushed countries to look for alternative sources of fuel. This is expected to create lucrative growth opportunities for the fatty acid ester market players in future, as fatty acid ester is a major raw material used in biodiesel production.

Market Segmentations and Scope of the Study:

The fatty acid esters market size has been segmented based on product type, application, and geography. Based on the product type, the industry is classified into tall oil fatty acid (TOFA)-based esters, oleates, pelargonates, dimerates, stearates, laureates, palmitates, and others. Based on application they are classified into lubricants, metalworking fluids, cooling liquids, hydraulic fluids, oils, personal care and cosmetic products, food additives, industrial solvents and additives, and others. The lubricants segment is further classified into fuel additives, and lubes and greases. The oils segment is further classified into motor oil, gear oil, and others. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

Asia-Pacific region holds the lion share of fatty acid esters market at present and is expected to continue dominating the market during the forecast period. This is attributed to factors such as increasing usage of personal care products, cosmetics, and detergents in countries such as China, India, Malaysia, and Japan. These are not only among the large consumers of fatty acid esters but also leading producers across the world.  Also, presence of major players such as KLK OLEO, Dupont, DKS Co. Ltd., and P&G Chemicals, boosts the market growth in this region.

However, North America is expected to witness a steady rise in the fatty acid esters market due to improved living standards along with increasing focus on beauty and appearance owing to changing consumer perceptions, and aggressive social media campaigns by personal care companies. Countries in Europe and Latin America have also been witnessing significant growth. This is due to the use of fatty acid esters in the processed food industry as stabilizers.

Competitive Landscape:

The market comprises of various players such as are DuPont, Evonik Industries, Estelle Chemicals Pvt. Ltd., Faci Asia Pacific Pte. Ltd., P&G Chemicals, The Seydel Companies, Inc., Fine Organics, Oleon N.V., KLK Oleo, and World Chem Industries. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth and geographical reach. For instance, in March 2021, Renewable Energy Group Inc. collaborated with Optimus technologies with the aim to deliver biodiesel, which is produced by mixing different fatty acid methyl esters, to fleets across the United States. With the help of Optimus’ new technology, biodiesel can be utilized as B100 in fleets. Also, in March 2020, Matangi industries LLP announced expansion plan for their chemical facility, which will include the production of fatty acid esters. After the expansion of their plan, the company’s production capacity has become 14,400 per year.

Key Benefits:

• The fatty acid ester market report provides the quantitative analysis of the current market and estimations through 2021-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the fatty acid ester market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the fatty acid ester market is provided in the report.

• The competitive analysis of the market players along with their market share in the fatty acid ester market

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments:

By Product Type

• Tall Oil Fatty Acid (TOFA)-Based Esters

  • Monoesters

  • Diesters

  • Polyol Ester              

  • Trimethylolpropane

  • Pentaerythritol

  • Others

• Oleates

• Pelargonates

• Dimerates

• Stearates

• Laureates

• Palmitates

• Others

By Application

• Lubricants

  • ???????Fuel Additives

  • Lubes and Greases

• Metalworking Fluids

• Cooling Liquids

• Hydraulic Fluids

• Oils      

  • Motor Oil

  • Gear Oil

  • Others     

• Personal Care and Cosmetic Products

• Food Additives

• Industrial Solvents and Additives

• Others

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

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