Essential Fatty Acids Market Regional Opportunities, Demand, Growth Rate, Revenue, Forecast
Market Overview
The global fatty acids market is garnering
colossal traction. The market gets traction from rising applications of fatty
acid in nutrition supplement, animal feeds, cosmetic & personal care
products, and in the drug manufacturing as carriers for lipid formulation.
Fatty acid also finds its huge usages in paints & varnishes, rubber compounding
& formulations, textile chemicals, insecticides, plastic fabrication, and
paper products.
Additionally, this versatile chemical finds
its usages in many industrial applications such as in rubber manufacturing and
plastic production owing to its coagulating quality. The agriculture industry
is considered as the largest user of fatty acid globally owing to the extensive
consumption of these materials in insecticides and in fodders & animal feed
to increase its nutritional value.
Owing to its varied applications, fatty
acids enjoy huge market prominence. Consequently, the market for fatty acids
perceives excellent traction worldwide. The rapidly improving standard of
living is another major factor fostering the growth of the fatty acids market,
driving the consumption of meat, and the demand for animal feed.
According to leading research firm - Market
Research Future (MRFR), the global fatty acids market size is expected to reach
over USD 22 MN by 2022. In its recently published industry analysis, MRFR also
asserts that the market would register approximately 9.4% CAGR throughout the
review period (2016-2022). Additional factors expected to propel the growth of
the market include changing lifestyles, improved economy, and growing
population.
Also, rapid industrialization and
urbanization drive the growth of the market, predominantly. Conversely, changing climatic conditions in
some regions is impeding the growth of the market, affecting the application
industries such as animal feed, rubber industry, and others. Nevertheless,
product diversification and technology advances in feed additive would support
market growth, providing substantial opportunities to the market players.
Global Fatty Acids Market - Competitive Analysis
Highly competitive, the global fatty acid
market appears to be fragmented due to the presence of many well-established
players. To gain a substantially larger market share, players incorporate
strategic initiatives such as mergers & acquisitions, collaboration,
expansion, partnership, and product & technology launch.
These also make high investments to expand
their distribution network, production capacity, and supply chain in emerging
countries. These players strive to reduce the cost of their products by
adopting cost-effective manufacturing methods.
Major Players:
Players leading the global saturated fatty
acids market include BASF SE (Germany), Akzo Nobel N V (Netherlands), Arizona
Chemicals (US), Eastman Chemical Company (US), Ashland Inc. (US), Croda
(India), Godrej Industries (India), Oleon N V (Belgium), Colgate-Palmolive Ltd
(India), and Ferro Corporation (US), among others.
Global Fatty Acids Market - Segmentation
MRFR has segmented the market into three
main dynamics to widen the scope of understanding,
By Type : Saturated, Monounsaturated,
Polyunsaturated, Trans fats, and others.
By Application : Health Care, Food
Industry, Lubricants, Agrochemicals, Textile Industry, and others.
By Regions : North America, Asia
Pacific, Europe, and the Rest-of-the-World.
Global Fatty Acids Market - Regional Analysis
The Asia Pacific region would retain its dominance
over the global fatty acids market. The largest market share attributes to the
presence of the largest producer and consumers of fatty acid in the region.
Countries such as China, Malaysia, Indonesia, and India play a vital role in
Asian fatty acid production. Indonesia, China, Malaysia, and India are the
world’s leading palm oil producers and have raw material advantages.
Moreover, the raw material advantage and
the cost-competitive workforce in these countries are encouraging foreign
investors and manufacturers to shift their production bases to the region.
Factors such as Growing industrialization, the presence of an extensive
production base, and minimal regulatory norms foster the growth of the ester
of fatty acid market to an extent.
The saturated fatty
acid market size in the European region accounts for the world’s second-largest
market, globally. Factors such as the growing demand in the cosmetic industry and
the increasing consumption of medicines are key driving forces driving the
demand for essential
fatty acids market share in Europe.
Moreover, the presence of major manufacturers in the region impacts the
regional market growth positively, offering superior quality products.
Stringent regulatory norms in Europe and
North America have been diverting the demand for fatty acids to emerging
countries like China and India.
Industry/ Innovation/ Related News:
July 15, 2019 ----- Altimmune, Inc. (ALT – the US), a clinical-stage biopharmaceutical
company, announced the completion of its acquisition of Spitfire Pharma, Inc.
(the US), a leading provider of R&D services. The deal includes the product
candidate ALT-801, a potent GLP-1/Glucagon receptor co-agonist for the
treatment of non-alcoholic steatohepatitis (NASH).
Altimmune is largely focused on developing
liver disease and immune-modulating therapies. Spitfire Pharma offers drug
development and research services to improve the pharmaceutical properties of
peptide drugs. This is an important milestone for ALT as it marches towards
moving ALT-801 to the clinic expeditiously and generating proof of concept data
in man
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of
Wantstats Research and Media Private Limited),
Comments
Post a Comment