Global Fatty Ester Market - Wishtree Insight

Fatty Esters Market by Application (Personal Care & Cosmetics, Biofuel, Food & Beverages, Textile, Pharmaceuticals, Packaging, Lubricant, Paint & Coatings), Type (Fatty Acid Esters, Polyesters, Glyceryl Monostearate, Sorbitan Esters, Phosphate Esters, Sucrose Esters, Acrylic Esters), End-Users (Agriculture, Food, Pharmaceuticals, and Biochemical), and Regions The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The global Fatty Ester Market size was valued at USD 2.3 billion in 2021 and is expected to surpass USD 3.2 billion by 2031, expanding at a CAGR of 5.2% during the forecast period, 2021–2031. The market's growth is attributed to the high demand in consumption for cosmetics & beauty products, food products, biodiesel, paper, lubricants, and others.

INTRODUCTION

An ester is a chemical compound obtained from an oxoacid, which is widely used in various industries for its beneficial properties such as solvency, lubricating property, resistance to oxidation, and good stabilizing & conditioning properties. The demand for fatty ester in the market is anticipated to lucrative growth in the market. Fatty acids are formed from palm kernel, tallow, soya oil, tall oil, and sunflower oil. Esters and fatty acids are used in personal care products, paper, synthetic lubricants, biofuel, beautifying agents, surfactants, grease, tar, plastic, synthetic concoction, metal working fluids, water treatment, and oil field applications. Esters with low molecular weight are used for perfumes. The increased utilization of fatty esters in the chemical industry will aid the market to flourish largely over the coming years. Esters are chemical compounds containing carbonyl acid and alcohol and have a continuous ether connection between them. Fatty acids integrate from inorganic acids by avoiding hydration with liquor. When they react with water, they form alcohol and other chemicals. Oils, triglycerides, and fats are natural esters. They include polyesters, nitrate esters, unsaturated glycerol fat esters, and other substances with alkyl.

Market Trends, Drivers, Restraints, and Opportunities

• Growing demand for fatty esters for industrial applications as they are environment-friendly is expected to augment market growth.
• Increasing consumption of fatty esters in biodiesel, as a supporting regulation is likely to propel the fatty ester market.
• Increasing personal care applications across the globe is considered a major factor driving the market.
• High cost of ester-based lubricants is expected to hamper market growth over the forecast period.
• The demand for HVO fuels is considered to hamper the market growth in the forecast period.
• The discovery of technically recoverable shale gas reserves is expected to propel fatty esters demand in the oil & gas sector.

Scope of the Report

Market Segment Insights

The personal care &cosmetics segment is projected to register a considerable CAGR

Based on application, the global fatty ester market is divided into Personal Care & Cosmetics, Biofuel, Food & Beverages, Textile, Pharmaceuticals, Packaging, Lubricant, Paint & Coatings. The personal care &cosmetics segment is projected to register a considerable CAGR and holds 35% of the share in the market. The impact of social media on personal care products is considered a vital promoter for the growth of the segment in the market. However, the food & beverages segment is anticipated to hold a key share of the market in the coming years.

Glyceryl monostearate segment is expected to expand at a rapid pace

On the basis of type, the market is segregated into fatty acid esters, polyesters, glyceryl monostearate, sorbitan esters, phosphate esters, sucrose esters, and acrylic esters. The glyceryl monostearate segment is expected to expand at a rapid pace during the forecast period. The rising demand for baked goods has been attributed to the growth of the segment.

The food segment is anticipated to constitute a key market share

Based on end-user, the global fatty ester market is divided into agriculture, food, pharmaceuticals, and biochemical. The food segment is anticipated to constitute a key market share in the forecast period. However, the agriculture and pharmaceutical segments are anticipated for lucrative growth in the market.

The Asia Pacific is expected to witness lucrative growth in the coming years

In terms of regions, the global fatty ester market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. However, the Asia pacific is expected to witness lucrative growth owing to the growth of the food, personal care, and oil & gas industries. The food industry contributes as the major end-user for fatty esters followed by personal care and cosmetics applications which are likely to be the fastest growing sectors over the forecast period. Simple esters are used as a demulcent in lubricants and cosmetics, while composite esters are used in paper manufacture, metal working fluids, food & water treatment, and rolling oils.

Competitive Landscape

Key players competing in the global fatty easter market are Sumitomo Chemical; ABITEC Corp.; Archer Daniels Midland; DuPont; Felda IFFCO; Subhash Chemical Industries; UNDESA Group.; KLK Oleo; Evonik Industries; P&G Chemicals.

FAQs

How much is the market worth?

The global fatty ester market size was valued at USD 2.3 billion in 2021 and is expected to surpass USD 3.2 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is 5.2%.

What are the key drivers of the market?

The high demand in consumption for cosmetics & beauty products, food products, biodiesel, paper, lubricants, and other drivers are anticipated for a lucrative growth in the fatty ester market.

What segments are covered in the Global Fatty Ester report?

Segments covered in the report are, application (personal care & cosmetics, biofuel, food & beverages, textile, pharmaceuticals, packaging, lubricant, paint & coatings), type (fatty acid esters, polyesters, glyceryl monostearate, sorbitan esters, phosphate esters, sucrose esters, acrylic esters), end-users (agriculture, food, pharmaceuticals, and biochemical)

Mention the region is expected to hold the highest share in the Global Fatty Ester Market.

The Asia Pacific region is expected to hold the highest share in the Global Fatty Ester.