The
global fatty acid esters market was valued at USD 1.70 Bn in 2013 and
is anticipated to reach USD 2.24 Bn by 2020, growing at a CAGR of
4.1% between 2014 and 2020. In terms of volume, the global fatty acid
esters market stood at 1,088.8 kilo tons in 2013.
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Increasing
demand for fatty acid esters from the personal care products and
cosmetics industry is driving the growth of the fatty acid esters
market. The beneficial properties of fatty acid esters as emollients
and thickeners have led to high demand in the market. Hence, fatty
acid esters have wide range of applications in personal care products
and cosmetic industry. It is used as an emulsifier in the food
industry. It is utilized as thickening agents in ice-creams,
confectionary solutions, baking preparations and whipped creams.
These properties have therefore led to high demand for fatty acid
esters from the food industry. Due to its properties of high
lubricity, automobile industry is expected to fuel demand for fatty
acid esters as a lubricant in cars and jet crafts. It is also used in
manufacturing soaps and detergents as it possesses functional
properties such as foaming, stability, cleansing and moisturizing
properties among others. The end-user industries such as paper and
pharmaceutical are also expected to boost the market growth of fatty
acid esters due to its wide range of application in various
industries. Considering the factors mentioned above, the fatty acid
esters market is anticipated to witness significant rise in demand
from the personal care products and food, especially in the North
America and Asia Pacific. However, volatile prices of key feedstock
of fatty acid esters may hamper market growth in the next few years.
Medium
chain triglyceride (MCT) is the fastest growing segment of fatty acid
esters due to its wide range of applications in the food industry.
MCT is known to be used in the process of calorie burning thereby
loosing body weight. It accounted for 21.9% share of the global fatty
acid esters market in 2013 and is expected to experience growth
during the forecast period. Glyceryl monostearate accounted for over
40% share of the global fatty acid esters market in 2013. It is an
organic molecule used as an emulsifier in the food industry. It has
application in baking preparations and as a thickening agent in
ice-creams. Isopropyl Palmitate is a moisturizer; emulsifying and
thickening agent manufactured using palm oil. It is expected to
experience significant demand from the personal care products and
cosmetics industry due to its use in wide range of cosmetics
including lotions and creams. The others segment which includes
sucrose esters, polyol esters and glycol esters are also expected to
boost demand for fatty acid esters due to it functional properties in
various end-user industries such as paper and pharmaceutical in the
near future.
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Personal
care products and cosmetics and food among other applications are the
major applications of fatty acid esters in the market. Along with
being the major applications, personal care and cosmetics is also
anticipated to be the fastest growing application segment due to
increasing demand for its usage in cosmetics, creams and lotions in
developed and developing economies. Food is anticipated to be the
largest segment of fatty acid esters in the market due to wide range
of applications of fatty acid esters as thickening and emulsifying
agent The others segment is expected to boost demand for fatty acid
esters due to growing demand from developing and developed economies
in near future.
North
America accounted for the largest share of the global fatty acid
esters market in 2013. Factors such as spending power of consumers on
cosmetics and rising demand from the personal care products and
cosmetics segment in the region has led to major consumption of fatty
acid esters in the region. Asia Pacific is the second largest and
fastest growing market for fatty acid esters. It is anticipated to
boost demand for fatty acid esters due to growing demand from
end–user industries especially in China and India. Europe accounted
for approximately 20% of the global fatty acid esters market share in
2013. Europe is also anticipated to experience potential growth
during the forecast period due to rising demand from the personal
care products and cosmetics industries in the region. Rest of World
(RoW) comprising of Africa, the Middle East and Brazil is expected to
experience sluggish growth in the near future due to volatile prices
of key feedstock of fatty acid esters.
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Key
players in the fatty acid esters market include Cargill Incorporated,
Evonik Industries, KLK OLEO and Procter & Gamble (P&G)
Chemicals, Estelle Chemicals Pvt Ltd, Faci Asia Pacific Pte Ltd, Fine
Organics, Oleon among others. Major manufacturers are now focusing on
backward integration to prevail over volatility in availability and
prices of raw materials, and gain competitive advantage over other
key players in the market.
The
report segments the global fatty acid esters market as:
Fatty
Acid Esters Market – Product Segment Analysis
- Medium chain triglycerides (MCT)
- Glyceryl monostearate
- Isopropyl palmitate
- Others (Including polyol esters, glycol esters, sucrose esters, etc.)
Fatty
Acid Esters Market - Application Analysis
- Personal care products and cosmetics
- Lubricants
- Food
- Surfactants
- Others (Including paper, pharmaceuticals, etc)
Fatty
Acid Esters Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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