May 5, 2021   SOURCE: BusinessWire

Worldwide Fatty Acid Methyl Ester Industry to 2026 - Growing Production of Biodiesel is Driving the Market - ResearchAndMarkets.com

The "Fatty Acid Methyl Ester Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Fatty Acid Methyl Ester Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

Companies Mentioned

  • Arkema
  • BASF SE
  • Cargill, Incorporated
  • Cayman Chemical
  • Elevance Renewable Sciences, Inc.
  • KLK OLEO
  • Krishi Oils Limited
  • Larodan AB (ABITEC)
  • Merck KGaA
  • TCI Chemicals (India) Pvt. Ltd.
  • Univar Solutions Inc.
  • Wilmar International Ltd

Key Market Trends

Fuel Sector to Dominate the Market

  • Fuel segment stands to be the dominating segment owing to evolving regulations aimed at protecting the ozone layer and reducing global warming.
  • Growing dependence on fossil fuel and depleting fossil fuel reserves have led countries to look for alternative sources of fuel. Accordingly, this is expected to drive the growth of the methyl ester fatty acid market; as methyl ester fatty acid is a major raw material used in biodiesel production.
  • Biodiesel is witnessing an increase in consumption on account of its properties such as lower toxic emissions and biodegradable. Biodiesel has been demanding fuel in recent years, as biodiesel helps in raising the cetane number of the fuel and also in improving fuel lubricity. This improved lubricity helps in reducing the friction within the moving parts by avoiding additional wear.?
  • North American countries such as the United States of America and Canada are expected to experience high growth in biodiesel use during the forecast period due to increased government support and environmental awareness to reduce greenhouse gas emissions.
  • As per the data provided by The US Energy Information Administration (EIA) estimations, the US biodiesel production is expected to grow slow during 2050, owing to major economic and policy factors. In 2019, the United States consumed approximately 43 million barrels (1.8 billion gallons) of biodiesels. B5 has been used in the trucking industry and B20 biodiesel has been used with fleets of school and transit buses, garbage trucks, mail trucks, and military vehicles. ?
  • According to the European Union, the consumption of biofuels in the region is supported by the ten percent blending target for biofuels in transport fuels for 2020.
  • All the aforementioned factors are expected to drive the fatty acid methyl ester market during the forecast period.

North America Region to Dominate the Market

  • North America region is expected to be the largest and fastest-growing market over the forecast period owing to rising environmental awareness to reduce greenhouse gas emission and increasing support from the government by giving tax incentives and rebates to encourage the use of biodiesel in the region.
  • However, the COVID-19 impacted the fuel market due to lockdown regulations and travel bans around the world. This caused less consumption of biofuel by vehicles and decreased the consumption of fatty acid methyl esters.
  • The COVID-19 impacted the production and sales of vehicles in the North American region thus decreasing the demand for the market studied. North American region produced 13.37 total number of vehicles which is a 20.5% decrease from the previous year 2019.
  • Besides, due to its low VOC and biodegradable nature, increased use of fatty acid methyl esters as a green solvent in the paints and coating industry is expected to further accelerate the development of the methyl ester fatty acid industry.
  • In 2020, American multinational chemical corporation Dow generated some 7.95 billion U.S. dollars of revenue in its Performance Materials and Coatings segment.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Production of Biodiesel

4.1.2 Other Drivers

4.2 Restraints

4.2.1 High Manufacturing Cost Due to Volatile Raw Material Price

4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

4.3 Industry Value Chain Analysis

4.4 Porter's Five Forces Analysis

4.4.5 Degree of Competition

5 MARKET SEGMENTATION

5.1 Type

5.2 Application

5.3 Geography

5.3.1 Asia-Pacific

5.3.1.1 China

5.3.1.2 India

5.3.1.3 Japan

5.3.1.4 South Korea

5.3.1.5 Rest of Asia-Pacific

5.3.2 North America

5.3.2.1 United States

5.3.2.2 Canada

5.3.2.3 Mexico

5.3.3 Europe

5.3.3.1 Germany

5.3.3.2 United Kingdom

5.3.3.3 France

5.3.3.4 Italy

5.3.3.5 Rest of Europe

5.3.4 South America

5.3.4.1 Brazil

5.3.4.2 Argentina

5.3.4.3 Rest of South America

5.3.5 Middle-East and Africa

5.3.5.1 Saudi Arabia

5.3.5.2 South Africa

5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share(%)**/Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Growing Personal Care Industry

7.2 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/vvfj5f