Fatty Acid Methyl Ester Market 2023: Comprehensive Study Explores Huge Revenue Scope in Future | Leading Key Players
Jun 18, 2019
Fatty Acid Methyl Ester (FAME) Market Information: By Type (Medium Chain Triglyceride, Isopropyl Palmitate, Glyceryl Monostearate), Applications (Fuel, Lubricant, Metalworking Fluids, Coatings, Cosmetics & Personal Care), Region– Forecast Till 2023
Pune, India - June 18, 2019 /MarketersMedia/ —
Growing use and demand for Fatty Acid Methyl Ester (FAME) as an alternative to mineral oil derived fuel is the primary factor driving the growth of the global fatty acid methyl ester market. The rising demand for FAME in biodiesel production is mainly attributed to the complete combustion of fuel, lower toxic emissions, and corrosion free-nature. Metalworking fluid and lubricants are other major applications of FAME due to reducing use of mineral oil-based fluid in industrial processes to mitigate the environmental impact.
Market Segmentation:
The global fatty acid methyl ester (FAME) market is segmented by type, application, and region.
Based on the type, the market is segmented into medium chain triglyceride, isopropyl palmitate, glyceryl monostearate, glycol ester, polyol ester, sucrose ester, and others.
On the basis the application, the global fatty acid methyl ester (FAME) market is segmented into fuel, metalworking fluids, lubricant, food, agriculture, coatings, and others.
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Competitive Analysis:
Some of the key players in the global fatty acid methyl ester (FAME) market are BASF S.E. (Germany), Archer Daniels Midland Company (ADM) (U.S.), Cargill Inc. (U.S.), Wilmar International Limited (Singapore), Procter & Gamble (Singapore), Emery Oleochemicals Group (Malaysia), Evonik Industries AG (Germany), KLK Oleo (Malaysia), Longyan Zhuoyue New Energy Co. Ltd. (China), and Alnor Oil Co. Inc. (U.S.) among others.
Regional Analysis:
The global fatty acid methyl ester (FAME) market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific is the largest regional market across the globe due to increasing industrialization and growing automotive industry along with significant growth of the agriculture sector in this region. Countries namely India, China, South Korea, Malaysia, and Singapore are the major contributors to the growth of this region owing to the significant presence of major end-use industries namely foods & beverages, automotive, agrochemicals.
North America is the second leading region in the global fatty acid methyl ester (FAME) market. The U.S. is the leading market in this region owing to the presence of well-established end-user industries and substantial manufacturers of the FAME such as Archer Daniels Midland Company (ADM), Alnor Oil Co. Inc., and Cargill Inc.
Europe is another substantial region in the global fatty acid methyl ester (FAME) market. The major contributors to the growth of this regional market are the U.K., Germany, France, and Poland, wherein the automotive sector is the major consumer of FAME.
The Middle East & Africa and Latin America are holding a relatively little share of the market. Yet, these regions are projected to have a significant share in the global fatty acid methyl ester (FAME) market during the years to follow.
Market Overview:
The fatty acid methyl ester is an organic chemical compound, synthesized through transesterification of fatty acids and methanol. It can be derived from the vegetable source such as palm oil, rapeseed, vegetable oil, and soya beans. Rapeseeds are mainly preferred to produce fatty acid methyl ester due to high oil content (over 30%–40%), and it's high cetane content that gives complete combustion as well as lowers the emissions of harmful gases.
By type, the medium chain triglyceride is the fastest growing type of FAME among others due to surging demand from the foods & beverages industry. Glyceryl monostearate, another substantial type of FAME, is majorly used as an emulsifier in baking operations.
Based on applications, the product is primarily used as a substantial constituent of biodiesel and is preferred over conventional diesel due to non-toxic and biodegradable nature. Additionally, FAME is majorly used to nullify any corrosion that can be caused by free fatty acids to the metals of engines and production facilities. In the food & beverages industry FAME is used an emulsifying and thickening agent. The product finds its usage in a range of applications such as fuel additives, coatings, lubrication, metalworking fluids, and cosmetics & personal care.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Fatty Acid Methyl Ester (FAME) Market
5 Industry Overview of Global Fatty Acid Methyl Ester (FAME) Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
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Source: MarketersMedia
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