Fatty Acid Methyl Ester Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Global Fatty Acid Methyl Ester Market is anticipated to witness robust growth in the forecast period, 2024-2028. The global market for fatty acid methyl esters is anticipated to prosper from rising demand for fatty acid methyl esters from different end-use industries. For applications in lubricants, paints and coatings, food and agriculture, detergents and surfactants, metalworking, emulsifiers, and others, fatty acid methyl ester is the most favored substitute for traditional mineral-based products.
Moreover, one of the main drivers projected to propel the expansion of the worldwide fatty acid ester market is expected to be the low toxicity of fatty acid esters and the changing preference of consumers for biodiesel over conventional diesel. Due to their low cost and decomposing ability, fatty acids are predicted to expand as the automotive industry gradually shifts to green technology. According to the National Biodiesel Board, biodiesel, renewable diesel, and renewable jet fuel use in air transportation, electricity generation, and home heating applications will exceed six billion gallons by 2030, thus eliminating over 35 million metric tons of CO2 equivalent greenhouse gas emissions annually.
Increasing Demand of Renewable Energy Sources
Fatty Acid Methyl Ester (FAME) is preferred over conventional diesel because of its properties, such as lower toxic emissions. Because of its advantages over traditional diesel, such as its lower air pollutants, fatty acid methyl ester is preferred. As a result, it is regarded as non-toxic and biodegradable. Fatty Acid Methyl Ester (FAME) is a widespread thickening and emulsifying agent in the food industry. The expanding food sector is anticipated to support the fatty acid methyl ester market's expansion. It is frequently employed as a green solvent in solvent applications because of its low VOC concentration and biodegradability.
Demand from Various End-Use Industries
The global fatty acid and methyl acid markets are driven by demand from numerous end-use industries. It creates a leather fat liquoring agent utilized as a great textile detergent in the leather industry. Its properties, such as superior solubility in organic solvents, good lubricity, and high boiling temperatures, are also driving up demand for it in various end-use industries, including coatings, food, and metalworking fluids, lubricants, solvents, and fuels.
Global Fatty Acid Methyl Ester Market is segmented based on Feedstock, and End-Use. Based on Feedstock, the market is divided into Rapeseed, Sunflower, Palm oil, Soybean, Animal Fat and Others. Based on End-Use, the market is divided into Fuels, Food Processing, Lubricants, Coatings, Pharmaceuticals and Others.
Cargill Inc., DuPont, Estelle Chemicals Pvt. Ltd., Evonik Industries, Faci Asia Pacific Pte. Ltd, Fine Organics, KLK Oleo, Metroshen International Corporation, Oleon N.V., TCI Chemicals Pvt. Ltd are some of the key players operating in the market.
In this report, global plastic films & sheets market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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