Fatty Acid Methyl Ester Market is Projected to grow at a CAGR of 5.1% from 2016 to 2021
“The global fatty acid methyl ester market size is projected to reach USD 22.13 billion by 2021”
The global fatty acid methyl ester market is projected to reach USD 22.13 billion by 2021, from USD 16.52 billion in 2015, registering a CAGR of 5.1%between 2016 and 2021. The main reasons for the growth of this market are the increasing use of these fatty acid methyl ester due to its environmental friendly nature and increasing usage of biodiesel in the various region.
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“Rapeseed methyl ester: The largest type segment of the market”
Rapeseed methyl ester segment was the largest type segment of the global fatty acid methyl ester market in 2015. Rapeseed oil is the largest source of fatty acid methyl ester feedstock in the world, with more than 1.5 million gallons of biodiesel produced from rapeseed globally in 2009. Rapeseed has better oil content than other types of raw materials of fatty acid methyl ester. Other type include soy methyl ester, palm oil methyl ester and so on.
“Fuels: The fastest growing and the largest application segment”
Fuels is the largest application segment of the global fatty acid methyl ester market, having accounted for the largest market share in 2015. This large share can be attributed to the high usage of fatty acid methyl ester for biodiesel production due to strict environmental rules and regulations and government intervention. Lubricants and coatings are the other key applications of fatty acid methyl ester market.
“Asia-Pacific: The fastest-growing regional market for fatty acid methyl ester”
The Asia-Pacific fatty acid methyl ester market is the fastest-growing market. The Asia-Pacific FAME market is in a relatively nascent; however, it has huge growth potential in India, China, and Japan. These nations are among the largest consumers of oil fuels and 70% to 85% of their fuel requirement is dependent upon imports. The rising need for fuel security is has led to these economies searching for alternative fuels. Governmental rural welfare programs, which encourage community and small-scale biodiesel production projects in countries such as India and the need to reduce Greenhouse Gas (GHG) emissions are expected to drive the Asia-pacific fatty acid methyl ester market.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 – 11%, Tier 2 – 33%, and Tier 3 – 56%
• By Designation: Director Level – 10%, C Level – 20% Others – 70%
• By Region: Europe – 33% North America – 25%, Asia-Pacific – 25%, RoW – 17%
As a part of qualitative analysis, the report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as Wilmar International Limited (Singapore), Cargill Inc. (U.S.), KLK Oleo (Malaysia), ADM Company (U.S.), Emery Oleochemicals (Malaysia), BASF SE (Germany), and others.
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