Global Fatty Acid Esters Esters was valued at US$ 1,702.2 Mn in 2016 and is projected to reach US$ 2,314.4 Mn by 2023. Sales revenue is expected to increase at a CAGR of 4.5% during the forecast period (2017–2023).
Middle east and Africa is anticipated to be the fastest growing market for Fatty Acid Ester esters market, registering a CAGR of 7.2% over the forecast period
By type, Glycerol Monostearate segment is estimated to dominate the Fatty Acid Ester esters market with 35% share in terms of revenue by 2016 end. However, Medium Chain Triglycerides segment (EVOH) is expected to gain traction over the forecast period.
Food & processing segment is anticipated to increase 1.9X in terms of value during the forecast period, while cosmetic and personal care segment is projected to be the fastest growing segment, registering a CAGR of 6% in terms of value over the forecast period
Fatty Acid Ester Esters are natural substitutes of petroleum products and are also called as oleo chemical substances. They are obtained through esterification process and the key feedstock used in the production of Fatty Acid Ester Esters includes vegetable oils such as, palm oil, sunflower oil, etc.
Rising demand from the end use segments have been driving this market over the years. They are used in a wide range of applications such as, personal care and cosmetics, lubricants, food, surfactants and others. Asia Pacific region is the largest consumer of Fatty Acid Ester Esters with China contributing the largest share to the demand. Cosmetics industry is expected to drive the demand for Fatty Acid Ester Esters in this region. Global industry is expected to be driven by increasing Fatty Acid Ester esters demand in personal care, cosmetics and food processing applications.
Global Fatty Acid Ester Esters market is estimated at US$ XX million for the year 2016 and is expected to reach US$ XX million by 2023, growing at a CAGR of XX% during the forecast period. The global consumption of Fatty Acid Ester esters stood at XX thousand tons in 2016, and expected to reach XX thousand tons by 2023, growing at a CAGR of XX% through 2017 to 2023.