Market Size of Fatty Acid Ester Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fatty Acid Ester Market Analysis
The global fatty acid esters market is estimated to reach over 1,771.21 kilotons by the end of the current year, and the market is projected to register a CAGR of over 4% during the forecast period.
The COVID-19 pandemic affected the market negatively in 2020 and the first half of 2021, owing to a decrease in end-user industries such as biofuels and personal care. However, the market has currently reached pre-pandemic levels, and it is expected to grow at a steady rate.
- The major factors driving the market studied are a growing preference for biodiesels and rising demand for personal care products.
- On the other hand, performance limitations associated with fatty acid esters are likely to hamper the market's growth in the forecast period.
- Emerging applications and recycling of fatty acid esters are likely to act as opportunities for the market studied in the coming years.
- The European region dominated the market across the world. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period.
