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Published Date: 2015-02-18Number of Pages: 85

Fatty Acid Esters (Product - Medium Chain Triglycerides (MCT), Glyceryl Monostearate, Isopropyl Palmitate, and Polyol Esters, Glycol Esters, and Sucrose Esters; Application - Personal Care Products and Cosmetics, Lubricants, Food, Surfactants, and Paper and Pharmaceuticals) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

Global Fatty Acid Esters Market: Snapshot

Esters are chemical compounds derived from acids by replacing at least one –OH (hydroxyl) group by –O–alkyl (alkoxy) group. Whereas, fatty acid esters are the type of esters that are formed due to the combination of fatty acids and alcohols. Also known as oleochemical substances, fatty acid esters could be natural substitutes to petroleum products and find various applications in biofuels. Vegetable oils such as rapeseed oil, palm oil, and sunflower oil are prominent raw materials used for the production of fatty acid esters. Applications in the manufacture of various products such as surfactants, lubricants, cosmetics, and food are expected to drive the global fatty acid esters market. Furthermore, increasing applications in the paper and pharmaceuticals industries could promise a significant growth of the global market for fatty acid esters.

A report by Transparency Market Research (TMR) estimates that the worldwide market for fatty acid esters could grow to reach a value of US$2.24 bn by the end of 2020.

Growing Demand from Food and Beverage to Propel Growth

Various product types of fatty acid esters such as isopropyl palmitate, glyceryl monostearates (GMS), medium chain triglycerides (MCT), sucrose esters, glycol esters, and polyol esters could find numerous applications across a range of industries. Used in the food industry as an emulsifier and a thickening agent, GMS forms a significant market share of the world fatty acid esters market. Using MCT, man-made fats prepared from palm oil, in food items helps to burn calories to reduce weight. Another fatty acid ester produced by palm oil, isopropyl palmitate is used as a thickening agent and emollient in the production of cosmetics such as creams and lotions.

The growing demand from the cosmetic industry for isopropyl palmitate is anticipated to fuel the global market for fatty acid esters. Other product types such as sucrose esters, glycol esters, and polyol esters could account for a relatively smaller market share. Nevertheless, due to growing applications of these esters in industries such as surfactant, pharmaceutical, and paper, they are projected to grow their global annual production in future.

However, GMS could still be a major product in the world fatty acid esters market. It is usually in the form of a hygroscopic, sweet-tasting, odorless, and white flaky powder and finds applications in various markets such as health and personal care, pharmaceutical, and food and beverage. In food production, GMS is engaged as a texture stabilizer, flavor enhancer, and an emulsifier for food products such as instant noodles, biscuits, chewing gums, non-dairy creamers, toffees, caramels, chocolates, candies, pastas, and meats products.

North America to Sustain Foremost Position Due to Demand from Cosmetics

According to the report, the global fatty acid esters market is envisaged to grow at a healthy CAGR with substantial support provided by key regions. The extensive use of fatty acid esters in the food industry may assist Asia Pacific countries to grow at a telling pace. The rising demand from the cosmetics and food industries is forecasted to boost the market for fatty acid esters in not only the Asia Pacific but also North America region. The market for fatty acid esters in Asia Pacific is foreseen to increase owing to a rising demand from the food industry.

In the recent past, North America had dominated the global market of fatty acid esters. For the same year, the Europe market had secured a decent share in the fatty acid esters business worldwide. However, Europe is predicted to lose its market share because of volatile prices and strict regulations imposed by European Union (EU) regulation bodies such as Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH).

The international fatty acid esters market could witness the presence of several prominent players including Cremer Oleo, Chemicals Co. Ltd., Henan Eastar, China Top Chemical (Jiangsu) Co. Ltd., and Zhengzhou Dahe Food S&T Co. Ltd.

Fatty acid esters are known as oleochemical substances which are natural substitutes to petroleum products. They are formed by a process known as esterfication. The key feedstock required in the production of fatty acid esters includes vegetable oils such as palm oil, sunflower oil and rapeseed oil among others. The usage of vegetable oils and products manufactured from natural raw material has been increasing which thereby has led to increasing demand for fatty acid esters for several applications in the market. Monoglycerides, diglycerides and triglycerides are formed when glycerol is the alcohol component in fatty acid esters. Fatty acid esters are used in a wide range of applications in personal care and cosmetics, food and surfactants among others. Medium chain triglycerides, glyceryl monostearates, isopropyl palmitate and others are the major products of fatty acid esters which are also anticipated to create demand for fatty acid esters in the market.
 
This study analyzes, estimates and forecasts the global fatty acid esters market in terms of demand based on volume (Kilo tons) and revenue (US$ Mn) from 2014 to 2020. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
 
The report provides a detailed view of the fatty acid esters market based on product types and key applications. It segments the market into product types. These include medium chain triglycerides, glyceryl monostearates, isopropyl palmitate and others including polyol esters, glycol esters, sucrose esters, etc. Key application segments include personal care products and cosmetics, lubricants, food, surfactants and others such as pharmaceuticals and paper among others. Furthermore, the report segments the market based on key geographies such as North America, Europe, Asia Pacific and Rest of the World (RoW). It also provides market volume and revenue for each application segment under every regional segment.
 
Based on the fatty acid esters application segment, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain (from raw material manufacturers to end-users). Additionally, the study analyzes market competition and industry players using Porter’s five forces analysis.
 
The report includes an overview of the market share of key companies in the global fatty acid esters market. Key market participants profiled in the study include Cargill Incorporated, E.I. DuPont de Nemours and Company, Estelle Chemicals Pvt Ltd, Evonik Industries, Faci Asia Pacific Pte Ltd, Fine Organics, KLK Oleo, Oleon NV, Procter & Gamble (P & G) Chemicals, The Seydel Companies, Inc and World Chem Industries. Profiles of key participants comprise parameters such as company overview, product portfolio, financial overview, business strategy and recent developments.
 
Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities. 
 
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases and relevant patent and regulatory databases. Some of the other sources include national government documents, statistical databases, and market reports, news articles, press releases and webcasts specific to the companies operating in the market. Secondary sources referred for fatty acid esters study include ICIS, The REACH, WikiGenes, Platemart and company presentations.
 
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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