(MENAFN- America News Hour) The fatty acid methyl ester is produced by a trans-esterification process of methanol and fatty acids. The product can be extracted from various botanical sources such as rapeseed, palm oil, vegetable oil, and soya beans. Rapeseed is the most preferred plant for extracting fatty acid methyl ester due to adequate oil content compared to other botanical sources. The
is predicted to grow at the rate of 5.40 CAGR by 2031. The fatty acid methyl ester is mainly used as diesel compared to standard diesel due to its outstanding properties such as low toxics emissions. These are readily biodegradable and, therefore, less harmful to the environment. They help control environmental issues such as global warming. The properties mentioned above and fatty acid methyl ester applications are projected to be key factors that compel the forecast period's market growth. Somehow, the minimum availability of all types of raw materials is expected to hinder the fatty acid methyl ester market growth.
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Global Fatty Acid Methyl Ester Market as per the Type
• Rapeseed methyl ester
• Soy methyl ester
• Palm oil methyl ester
• Others
Global Fatty Acid Methyl Ester Market as per the Application
• Fuels
• Lubricants
• Coatings
• Metal Working Fluids
• Food & Agriculture
• Others
Global Fatty Acid Methyl Ester Market as per the Geography
• North America
• Europe
• Asia Pacific
• Rest of the World
According to the fatty acid methyl ester market based on product, the market is divided into glyceryl monostearate, medium-chain triglycerides, polyol esters, glycol esters, isopropyl palmitate, and sucrose esters. The medium-chain triglycerides have the largest share in the market due to the expanding food industry. The medium-chain triglycerides are used in the food as a thickening agent. Moreover, medium-chain triglycerides are considered to have many health benefits.
Based on application, the market is segmented among lubricants & fuels, surfactants & detergents, personal care & cosmetics, and food and pharmaceutical. The lubricants and fuels segment is expected to have a lucrative share in the fatty acid methyl ester market. This is due to the extensive application in automotive, stationary power generators, machinery such as farm equipment, construction equipment, and mining equipment. Moreover, the increasing awareness about bio-diesel in the automotive and transportation industries due to the growing requirement to boost security and environment conservation also supports market growth in this segment.
As per the geography, the regions are segregated into North America, Europe, Asia Pacific, and the Rest of the World. North America is projected to hold the highest share in the fatty acid methyl ester market. The largest market share of North America is ascribed to the increasing requirement of personal care products, government initiatives for the usage of bio-diesel in North America to tackle global warming.
The fatty acid methyl ester is worldwide used as fuels in vehicles, in machines (construction, mining, and farming), stationary power generators, personal care products, as lubricants, in pharmaceuticals, as food additives, and as carriers for fertilizers and pesticides. Furthermore, it is broadly used in food products as a thickening and emulsifying agent. Expanding the food industry around the world is anticipated to augment global market growth.
Major players operating in the fatty acid methyl ester market are Archer Daniels Midland Company, Emery Oleochemicals Group, Longyan Zhuoyue New Energy Co. Ltd., Wilmar International Limited, Alnor Oil Co. Inc, Avantor Performance Materials, Eastman Chemical Company, FUSHIMI Pharmaceutical Co., Berg Schmidt, Velsicol Chemical LLC, and Smart Chemicals Group Co.
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Therefore, the fatty acid methyl ester chemical has a prominent role in the automotive industry as a lubricant and fuel. Moreover, the fatty acid methyl ester's eco-friendly characteristic is majorly fueling the application in many industries such as fuel, supporting in battling global warming.
• This report defines the segmentation of the market in terms of product, application, and geography.
• This study evaluates the fatty acid methyl ester market on the basis of quantitative and qualitative analysis.
• This report identifies and analyzes the major factors such as propellants, restraints, opportunities, and challenges impacting the fatty acid methyl ester market.
• This report also provides the key competitors' profiles and their progressive strategies, such as the latest developments in products, joint ventures, mergers & acquisitions, and alliances.
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