Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 21.1 Billion | USD 32.1 Billion | 5.7% | 2020 |
FrequentlyAsked Questions
Expansion of fatty esters market over forecast timespan is subject to huge demand for biofuel production, lubricants, and cosmetics & personal care sector. Surge in need of biodiesel, also referred as fatty acid methyl ester, owing to depleting fossil fuels in earth crust surface along with rise in environmental degradation has led to massive product demand. Apart from this, rise in end-user preference for natural esters as well as specialty esters in personal care items will steer market trends.
According to Zion market research report, the global Fatty Esters Market accrued earnings worth approximately 21.1 (USD Billion) in 2020 and is predicted to gain revenue of about 32.1 (USD Billion) by 2028, is set to record a CAGR of nearly 5.7% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to high product penetration in flourishing food, oil & gas, and personal care industries in sub-continent. Apart from this, huge presence of lubricant manufacturers in countries such as India and China has paved way for product demand in these countries, thereby amplifying elevation of fatty esters industry in Asia Pacific region. Rise in use of product in cosmetic & personal care as well as food industries will boost regional market trends.
The key market participants include Faci Asia Pacific Pte. Ltd., KLK Oleo, Estelle Chemicals Pvt. Ltd., Evonik Industries, DuPont, Cargill, Inc., Arkema S.A., Oleon N.V., Fine Organic Industries, The Seydel Companies, Inc., and P&G Chemicals.
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