Fatty acids are chemical compounds, containing long chains of hydrocarbon and terminated carboxylate group. Fatty acids are insoluble in water; however, they are highly soluble in organic solvents. Most fatty acids are derived from natural sources such as vegetable oil and coconut oil, while others are obtained from petroleum. Fatty acid derivatives are obtained from fatty acids using various chemical processes such as hydrogenation, dehydrogenation, and isomerization. Fatty acid derivatives have a variety of applications in industries. In human body, these acids produce hormone-like substance, which is responsible for regulating various activities in the body such as blood pressure, blood clotting, blood lipid levels, and inflammation response to injury infections. Fatty acid derivatives also act as intracellular messengers in the human body.
There is a growing concern for finding alternative for the products obtained from petroleum, because petroleum sources are going to exhaust after some time in future. Use of petroleum products is immensely hazardous to the environmental. Fatty acid derivatives are environment-friendly alternatives to some petroleum products. Favorable regulations is a driver for the fatty acid derivative market. Innovation and technology in the production of fatty acid derivatives are opening new horizons for its applications. Use of fatty acid derivatives as bio lubricants is projected to propel the market.
Based on chemical structure, the fatty acid derivatives market can be classified into saturated and unsaturated fatty acids. Saturated fatty acids do not contain double bond and each carbon atom in the chain is bonded to two hydrogen atom. Butanoic acid, Hexanoic acid, and Octanoic acid are some of examples of saturated fatty acid. The unsaturated fatty acid segment is further classified into monounsaturated fatty acids, polyunsaturated fatty acids, and trans fatty acids depending upon the degree of unsaturation.
In terms of application, the fatty acid derivatives market is classified into pharmaceutical industry, personal care industry, food industry, textile industry, paint industry, rubber industry, manufacturing industry, and others. The pharmaceutical industry extensively uses lipid formulations as a carrier for active substance. Fatty acid derivatives are widely used in anticonvulsant drugs. In the personal care industry, these derivatives are used in lotions, soaps, conditioners, baby care products, and others. Amides and other nitrogenous fatty acid derivatives are used in process additives in textile, rubber, paint and coating, and printing ink industries. In the food industry, fatty acid derivatives such as polyol esters are used in specialty products such as high-energy supplements. Fatty acid derivatives are extensively used in the production of bio lubricants. Biolubricants are used in the manufacturing industry.
Based on geography, the fatty acid derivative market is segmented as Asia Pacific, North America, Europe, Middle East and Africa (MEA), and Latin America. Asia Pacific is emerging as the leading market owing to high demand for consumer products. North America and Europe are major markets for fatty acid derivatives. North America had the highest market share in the last couple of years. Middle East & Africa and Latin America are also promising markets for fatty acid derivatives owing to its application in a wide range of end-use products.
Key players operating in the fatty acid derivatives market are BASF SE, Oleo NV, Kuala Lumpur Kepong Berhad (“KLK”), Godrej Chemical, Eastman Chemical, and Wilmar International Limited.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.