Fatty acids market size was estimated at over 21 million tons in 2014. Growing awareness towards consuming sustainable products owing to rising health consciousness is likely to promote naturally derived fatty acids demand for numerous applications. They are also likely to promote steady pricing in the market and counter volatile crude oil prices arising out of supply-demand deficit.
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Growth of personal care industry is likely to support fatty acids market size growth. They are used in cosmetics & toiletries applications. Stearic acid, lauric acid and oleic acid are suitable for cosmetics & toiletries applications. Known for high stability, mild odor and white color, the stearic acid market size was estimated at 5.74 million tons in 2014 and is likely to grow with an estimated CAGR of 4.5% up to 2023. The U.S. oleic acid market has witnessed strong growth in recent times; driven primarily by broader C18s use oilfield and drilling applications and benchmark fatty acid market price trend.
Food packaging applications include defoaming agents, emulsifiers, stabalizers, plasticizers and lubricants. In food, they find applications in bakery products, margarine, ice creams, chewing gums and candy.
Increasing application scope in textile industry is likely to drive fatty acids market growth. Its derivative namely fatty acid ethoxylate are used in various textile applications such as wetting agents, emulsifying softeners, dispersants and scouring agents They are also used as spin finishing agents in numerous textile formulations.
Key regions such as North America and Europe are likely to witness moderate growth rates over the forecast period. European countries such as Germany, France and UK are likely to witness growth owing to growth of cosmetics industry. North American countries such as U.S. and Canada are likely to witness a steady demand owing to growth in dietary supplements and functional foods consumption.
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Global fatty acids market share is fragmented and the companies are setting up manufacturing bases in emerging economies such as Asia Pacific to tap the potential market due to rapid industrialization. Key companies operating in this market include Akzo Nobel, BASF SE, Arizona Chemicals, Ashland Inc., Eastman Chemical, Croda and Oleon N.V. Other prominent companies include Godrej Industries, Colgate-Palmolive Ltd, Vantage Oleochemicals, Wujiang Jinyu Lanolin Co., Ltd and Ferro Corporation.
This latest Fatty Acids Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Fatty Acids Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Fatty Acids Market Size, Industry Downstream Potential Outlook Report, Regional Analysis, Application Development, Price Trend, Competitive Landscape & Forecast, 2016 – 2023.” in detail along with the table of contents:
Key Insights in this Report
- Fatty Acids Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Fatty Acids Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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