The growing relevance of personal care products, especially amongst youngsters and women, has generated humongous demand within the global fatty acid esters market. The use of these esters is not restricted to a single industry, and a plethora of applications for these chemical compounds have come to the fore in recent times. Therefore, the total volume of revenues within the global fatty acid esters market is set to expand in the years to follow. The chemical industry has also become a matter of debate and discussion across key international entities. Development of distinct compounds and esters for chemical testing and analysis has become an important consideration for several chemical scientists. Therefore, the use of fatty acid esters is expected to increase in the years to follow.
Transparency Market Research (TMR), in its report, predicts that the global fatty acid esters market would reach a value of US$2.24 bn by 2020-end, growing from a value of US$1.70 bn in 2013. This market is expected to tread along a lucrative path, with a projected to CAGR of 4.10% over the period between 2014 and 2020. Growing usage of fatty acid esters in surfactants and food products shall pave way for increased revenues within the global market. The humongous growth of medical and pharmaceutical research sector shall also impel the growth of this market.
Growing Demand for Improved Cosmetic Products
The cosmetics industry holds tremendous potential for growth and expansion, majorly due to increasing demand for self-care products. The growing inclination of the masses towards buying beauty products has paved way improved research within the cosmetics sector. Furthermore, marketing and promotions for cosmetic products have been quite prominent over the past decade. The innovation-led approach of cosmetics manufacturers towards popularising their products has aided the growth of the global fatty acid esters market. As celebrities and influencers endorse leading brands of cosmetic products, vendors in the fatty acid esters market are projected to thrive.
Multiple Uses of Esters
Use of esters in lubricants and other similar materials is also a key driver of market demand. Several industries use lubricants to moderate friction across a plethora of physical applications. Therefore, the growth of the global fatty acid esters market largely depends on advancements in third-party applications such as industrial machinery and cosmetic research. The food industry has emerged as a formidable consumer of fatty acid esters, and this is an important dynamic for market vendors. Besides, the stellar size of the pharmaceutical industry, where fatty acid esters are used for analysis and testing, is an important standpoint for vendors.
Some of the leading vendors in the global fatty acid esters market are Henan Eastar, China Top Chemical (Jiangsu) Co. Ltd., Cremer Oleo, and Zhengzhou Dahe Food S&T Co. Ltd.
The global fatty acid esters market can be segmented on the basis of:
- Medium chain triglycerides (MCT)
- Glyceryl monostearate
- Isopropyl palmitate
- Others (Including polyol esters, glycol esters, sucrose esters, etc.)
- Personal care products and cosmetics
- Others (Including paper, pharmaceuticals, etc)
- North America
- Asia Pacific
- Rest of the World (RoW)
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