Fatty acid esters are formed by the esterfication process. Esters, which are the basic constituent of fatty acid esters, are the chemical compounds that are obtained from inorganic and organic acids in which the alkyl group replaces the –OH group. The esters for oleochemical substances originate from alcohol and carboxylic acid; fatty acids and alcohols combine to form fatty acid esters.Fatty acid esters are natural substitutes for petroleum products. The key feedstock needed for the synthesis of fatty acid esters is vegetable oil, which can be rapeseed oil, palm oil, or sunflower oil. Fatty acid esters have large-scale application in cosmetics, personal care products, surfactants, and food.
Glyceryl Monostearates held 40% Share in Fatty Acid Esters Market in 2013
The global fatty acid esters market is segmented on the basis of application, geography, and product type. Based on product type, the fatty acid esters market is segregated into glyceryl monostearates, isopropyl palmitate, medium chain triglycerides, and others, including sucrose esters, polyol esters etc. The fatty acid esters market is segmented based on application into lubricants, cosmetics, food, paper, personal care products, and pharmaceutical. According to geographical segmentation, the fatty acid esters market is divided into Asia Pacific, North America, Europe, and Rest of the World (RoW).
In the product type segmentation, glyceryl monostearates held a 40% share of the fatty acid esters market in 2013. Glyceryl monostearates accounted for a significant share of the fatty acid esters market owing to its use as emulsifier and thickening agent in the food industry. Isopropyl palmitate is expected to contribute significantly to the fatty acids ester market due to its wide application in cosmetics. The others product segment of the fatty acid esters market includes glycol esters, sucrose esters, and polyol esters, which account for a steady but small share of the fatty acid esters market.
Application in Cosmetics and Personal Care Products Propels Fatty Acid Esters Market
Fatty acid esters have large-scale applications in several industries owing to their functional properties. The dermatological benefits of fatty acid esters, such as their ability to remove the accumulation of greasy particles on the skin and to provide a protection against the same, have increased their demand in personal care products and cosmetics. The fatty acid esters market could be driven in the coming years by the food industry owing to its use as a flavoring agent. Additionally, the fatty acid esters market may also be driven by the dairy industry due to its application as a thickening agent.
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Volatile Prices of Key Feedstock may Hamper Fatty Acid Esters Market
The volatile prices of the raw material used in the synthesis of fatty acid esters may hamper the global fatty acid esters market. The growing demand from the food industry and other end-use industries may create new opportunities for the fatty acid esters market. The fatty acid esters market may also get a boost owing to increasing demand from the pharmaceutical industry.
North America Leads the Global Fatty Acid Esters Market
North America and Asia-Pacific contribute significantly to the growth of the fatty acid esters market due to its widespread application in cosmetics, personal care products, and the food industry. Europe held a 20% share of the global fatty acid esters market in 2013. The market share of Europe for the period 2014-2020 is expected to drop owing to unstable prices and strict regulations implemented by the EU’s REACH regulation. The Rest of the World (RoW) segment, which includes Australia, the Middle East, Latin America, and Africa held a small share of the fatty acid esters market in 2013.
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