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Fatty Esters Market: Segmented: By Type (Glycerol Monostearate, Medium Chain Triglycerides, Isopropyl Ester, Glycol Esters, Sucrose Esters, Polyol Ester, Others), By Application (Textile, Lubricant, Packaging, Paints and Coatings, Personal Care and Cosmetics, Surfactants, Food and Beverages, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Fatty Esters Market to surpass USD 3.68 billion by 2032 from USD 2.2 billion in 2021 at a CAGR of 4.8% in the coming years, i.e., 2022-32.
The esters which are formed from the combination of alcohol with fat or oil are Fatty Esters. They have good conditioning and stabilizing properties, high oxidation, and thermal stability along with low volatility, and lubricating properties owing to which their application has increased in the chemical industry. There are various types of Fatty Esters such as Medium Chain Triglycerides, Isopropyl Ester, Glycerol Monostearate, Glycol Esters, Polyol Ester, Sucrose Esters, and Others. They have wide applications in Lubricants, Packaging, Textile, Paints and Coatings, Surfactants, Personal Care and Cosmetics, Food and Beverages, Others
Growing demand from various industries, growing population, rise in disposable income, and growing awareness related to healthy lifestyle changes among consumers, and favorable government initiatives are driving the growth of Fatty Esters market.
Fatty Esters market is classified on the basis of type into Glycerol Monostearate, Medium Chain Triglycerides, Isopropyl Ester, Glycol Esters, Sucrose Esters, Polyol Ester, Others. Glycerol Monostearate segment is dominating the market with the largest market share. The growth is attributed to the high usage in bakery products, whipped cream and ice cream processing as it gives smooth texture to the products.
Fatty Esters market is classified on the basis of application into Textile, Lubricant, Packaging, Paints and Coatings, Personal Care and Cosmetics, Surfactants, Food and Beverages, Others. Personal Care and Cosmetics is dominating the market with the largest share. The rising influence of social media has induced the demand of various products which is driving the growth of the segment. Furthermore, Lubricant segment is projected to grow at a significant rate during the forecast period.
Rising Demand from Various Industries
Fatty Esters are widely being used across various industries which is promoting the market growth. Rising consumer preference for natural ingredients in products has induced the usage in personal care and cosmetic products. Fatty esters have properties such as high oxidation and thermal stability along with low volatility and thus can be used as thickening agents in ointments, emulsifiers, anti-foaming agents. Fatty esters are used in lubricants, food products, and other industries owing to their environment friendly characteristics.
Growing Awareness and Favorable Government Initiatives
Growing population, rise in disposable income, and growing awareness related to healthy lifestyle changes among consumers is driving the growth of the market. Increasing influence of social media has stimulated the demand for personal care products. Industry application of fatty esters have gained traction in developing countries with the expansion and development in economic activities. Furthermore, government has launched various initiatives to promote the usage of bio-fuels and renewable resources which is fueling the growth of Fatty Esters market.
Unavailability of Raw Materials and High Production Costs
Growing uncertainty and disruptions in economic stability across the regions have resulted in difficulty in procurement of raw materials in the market. Moreover, high costs associated with the production of fatty esters is a major hindrance in the growth of the market.
Fatty Esters market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds the largest share of the market. High living standards and a rising focus on physical appearance and lifestyle owing to the growing influence of social media are contributing to the market growth in the region. Furthermore, Asia Pacific is projected to grow with the highest CAGR during the forecast period, owing to the growth in the industrial sector and favorable government initiatives.
Covid-19 pandemic has adversely affected the global economies and industries across the globe. With strict imposition of lockdowns and travel bans have resulted in shutdown of many businesses. The unprecedented problems due to coronavirus has disrupted the procurement of raw materials and global supply chain. Covid-19 had a negative impact on Fatty Esters Market. However, the market is expected to grow significantly in the post-pandemic situation with the relaxation in government regulations and resuming consumer demand.
| Report Attribute | Details |
| Market size value in 2021 | USD 2.2 billion |
| Revenue forecast in 2032 | USD 3.68 billion |
| Growth Rate | CAGR of 4.8% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Duopont, SOLVAY, Dow, Sumitomo Chemical Co., Ltd., ABITEC, ADM, BASF SE, AkzoNobel N.V., Biotage, Stepan Company, CEM Corporation, Fine Organics, Subhash Chemicals, Gattefosse, Croda International and Other Prominent Players |
Fatty Esters market size was estimated at USD 2.2 billion in 2021 and is expected to reach USD 3.68 billion in 2032.
The esters which are formed from the combination of alcohol with fat or oil are Fatty Esters. They have good conditioning and stabilizing properties, high oxidation and thermal stability along with low volatility, and lubricating properties owing to which its application has increased in the chemical industry.
Glycerol Monostearate and Personal Care and Cosmetics segment accounted for the largest Fatty Esters market share.
Key players: Duopont, SOLVAY, Dow, Sumitomo Chemical Co., Ltd., ABITEC, ADM, BASF SE, AkzoNobel N.V., Biotage, Stepan Company, CEM Corporation, Fine Organics, Subhash Chemicals, Gattefosse, Croda International and Other Prominent Players are the key players in the Fatty Esters market.
Growing Demand from Various Industries and Growing Awareness and Favorable Government Initiatives are the factors driving the Fatty Esters market.
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