Fatty Acid Methyl Ester (FAME) Market Overview
Fatty acid methyl ester or FAME demand will continue to growth healthy in the next decade. It is bio-based product, which primarily derived from vegetable oil, soya beans, palm oil and rapeseed. Market Research Future (MRFR) reports that the global fatty acid methyl ester (FAME) market will exhibit a healthy growth between 2018 and 2023. Rise of bio-fuel has reflected favorably on the market. FAME is a key constituent in biodiesel. In recent years, biodiesel has emerged as one of the better options to replace conventional fossil fuels. FAME is a low emission and non-toxic product.
The product is also used in manufacturing facilities for greasing and lubrication purpose. It prevents corrosion in machineries and equipment. FAME is also popular in the food & beverage sector. It is used as thickening agent and emulsifying agent in various types of packaged food. The application of fatty acid methyl ester market spans across fuel additives, metalworking fluids, coatings, cosmetics & personal care and lubrication. It is also used as an alternative to mineral oil.
Global Fatty Acid Methyl Ester (FAME) Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of application, type and region.
Based on application, the market has segmented into metal working fluids, food, coatings, fuel, agriculture, lubricant and others. On the basis of type, the market has been segmented into isopropyl palmitate, glycol ester, sucrose ester, medium chain triglyceride, polyol ester, glyceryl monostearate and others.
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Global Fatty Acid Methyl Ester (FAME) Market: Regional Analysis
On the basis of region, the fatty acid methyl ester industry report has been segmented into Europe, the Middle East & Africa (MEA), North America, Latin America and Asia Pacific (APAC). In 2016, APAC accounted for more that 40% market share in terms of revenue. The region is expected to retain it dominant position of over 2023. Favourable business climate, fast-growing automotive sector and rapid industrial growth are some of key factors supporting the market in Asia Pacific. Major of the growth is expected to come from China during the assessment period. The country’s growing status in the global manufacturing industry make it’s a highly attractive investment destination. Other countries such as India, Vietnam and Indonesia are also expected to market impressive contributions to the market in the forthcoming years.
Archer Daniels Midland Company (ADM) (U.S.), Wilmar International Limited (Singapore), Emery Oleochemicals Group (Malaysia), Longyan Zhuoyue New Energy Co. Ltd. (China), BASF S.E. (Germany), Alnor Oil Co. Inc. (U.S.), Cargill Inc. (U.S.), Evonik Industries AG (Germany), Procter & Gamble (Singapore) and KLK Oleo (Malaysia) are among the top-notch companies operating in the global fatty acid methyl ester (FAME) market.
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