The major factors propelling the growth rate of the market are the soaring public awareness about the various benefits of using bio-based fatty acid esters as lubricant additives in several applications, such as hydraulic, automotive, and metal cutting.

These eco-friendly esters provide good lubricity and a cleaner and less toxic work environment than the conventional lubricants. Besides, these esters also have low costs, owing to the abundant availability of various raw materials, such as animal fats and plant oils (like rapeseed oil, soy oil, and coconut oil). Additionally, the increasing concerns being raised over the rapid depletion of fossil fuel reserves because of their large-scale exploitation, are also boosting the demand for bio-based fatty acid esters, which is subsequently fueling the expansion of the fatty acid esters market.

Furthermore, the enactment of stringent policies regarding the use of fossil fuels all over the world is also supporting the market growth. Depending on product type, the market is divided into oleates, tall oil fatty acid (TOFA)-based esters, pelargonates, dimerates, stearates, laureates, and palmitates. Out of these, the oleates category dominated the market in 2019 because of their large-scale use in drug production processes. Additionally, oleates are extensively used in personal care products and lubricants.

To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/fatty-acid-esters-market/report-sample 

With the surge in various end-use industries around the world, the requirement for oleates is predicted to soar in the coming years. When application is taken into consideration, the fatty acid esters market is classified into personal care and cosmetic products, lubricants, industrial solvents and additives, and food additives. Amongst these, the personal care and cosmetic products category is predicted to exhibit the fastest growth in the market in the coming years. This is credited to the growing use of organic cosmetic and personal care products. Additionally, the surging consumer expenditure on personal care products, especially in emerging economies, is also predicted to push up the requirement for fatty acid esters.

Globally, the Asia-Pacific (APAC) region dominated the fatty acid esters market in 2019, and this trend is predicted to continue in the coming years as well. This is attributed to the surging requirement for fatty-acid esters in applications in personal care and cosmetic products and lubricants. Additionally, these esters are needed in surfactants, where they are used as emulsifying agents. Furthermore, with the growing disposable income of people in emerging economies, such as China and India, the demand for organic personal care products is rising, which is fueling the market growth in the region.

Browse Full Report Fatty Acid Esters Market Trends and Developments