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FAME market size-20.54 billion U.S. dollars in 2020, growth-compound annual growth rate of 5.3%. Trends-Innovation and progress in biodiesel applications have expanded the scope of the market
New York City, New York, USA, November 2, 2021/EINPresswire.com/-Increasing tax incentives and favorable regulatory policies to support the adoption of biomass-based fuels is due to the depletion of non-renewable resources and the recyclability of fatty acid methyl esters The key factor for the high compound annual growth rate of the fatty acid methyl ester market during the forecast period.
The global FAME market value in 2020 is 20.54 billion U.S. dollars and is expected to reach 30.51 billion U.S. dollars by 2028, with a compound annual growth rate of 5.3%. Fatty acid methyl ester (FAME), commonly known as biodiesel, is an environmentally friendly and renewable energy source. It is superior to consumable fossil fuels in terms of biodegradability, sulfur content and carbon emissions. Compared with pure vegetable oil, the physical properties of fatty acid esters are very similar to those of fossil fuels, especially traditional diesel. FAME is also non-toxic and biodegradable. It is produced from animal fat, vegetable oil or waste edible oil through a transesterification process. In this process, glyceride and alcohol react in the presence of a catalyst to form a mixture of fatty acid ester and alcohol. The combination of different fatty acid methyl esters is often called biodiesel, which is an alternative renewable fuel. Impurities in FAME, such as metals, must be restricted to applications as engine fuels.
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It is expected that the FAME market will achieve strong growth globally in the next few years, mainly due to its growing demand for biodiesel. FAME is mainly superior to traditional diesel because it has lower toxic emissions and other characteristics. FAME is widely used as a thickener and emulsifier in the food industry. The growth of the global food industry is expected to contribute to market growth. FAME is often used as a green solvent in solvent applications because it contains low VOC and is easily biodegradable. In addition, in the leather chemical industry, it is used to produce leather oiling agent and used as an excellent textile detergent. It is expected that the growth of detergent demand will be combined with market growth in the next few years. Its additional characteristics, such as excellent lubricity, excellent solubility in organic solvents and high boiling point, are increasing its tendency in various end-use industries, such as metal processing solvents, fluids, detergents and surfactants, lubrication Agents, fuels, coatings, food, etc. It is expected that during the forecast period, the high cost of fatty acid esters and the availability of alternatives will limit market participants.
In these regions, due to the soaring demand from end industries including the personal care market, North America is expected to see substantial growth during the forecast period, especially in the United States. In addition, favorable regulatory policies for biodiesel in the region are further expected to cope with global warming To supplement the growth of the FAME market. Due to rapid industrialization and increasing disposable income, especially in emerging economies including China, India and Southeast Asia, the Asia-Pacific market is expected to achieve significant growth. Therefore, the availability of alternatives such as fatty acid ethyl esters (FAEE) and hydrotreated vegetable oils (HVO) may hinder market growth.
The main participants include: KLK Oleo, Cargill Inc., Archer Daniels Midland Company (ADM), BASF SE, Wilmar International Limited, P&G Chemicals, Emery Oleochemicals Group, Longyan Excellence New Energy Co., Ltd., Alnor Oil Company Inc., Berg Schmidt Special, Evonik Industries and Biofuels
The further main findings of the report indicate that as of 2018, rapeseed methyl ester is the main type of fatty acid methyl ester in the world. Due to its higher efficiency and performance, this part is expected to grow the fastest during the forecast period with the highest compound annual growth rate. Compared with other methyl esters
The glyceryl monostearate fatty acid methyl ester segment showed the highest growth trend in 2018 and is expected to maintain this position during the forecast period
The fuel application of fatty acid methyl esters accounted for the most important market share in 2018. It is expected to maintain a leading position with a significant compound annual growth rate during the forecast period. The increase was mainly due to the new demands for fuel safety and environmental protection, which led to an increase in the preference for biodiesel in the automotive and transportation industries
The fuel application field is also the fastest growing field, with the highest compound annual growth rate, followed by the lubricant field, which ranks second in the fatty acid methyl ester market.
The market finds more and more opportunities in the demand for bio-based raw materials in new applications such as polymer manufacturing
North America occupied the most important market share in 2018. The region is expected to remain a major regional market segment during 2019-2026. The United States is the fastest growing economy and is expected to drive the global fatty acid methyl ester market
Significant growth is expected in Europe and the Asia-Pacific region in the next few years
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For the purpose of this report, the report and data segment the fatty acid methyl ester market based on type, product, application, and region:
Rapeseed Methyl Soybean Methyl Palm Oil Methyl Other
Glyceryl monostearate, medium chain triglyceride, polyol ester, glycol ester, isopropyl palmitate, sucrose ester
North America Europe Asia Pacific Middle East and Africa Latin America
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In summary, all aspects of the FAME market have been quantitatively and qualitatively evaluated to compare the global and regional markets. The market research provides key information and factual data about the market, and conducts a comprehensive statistical study of the market based on market drivers, limitations and future prospects.
Explore the main analysis of the report and data on the global materials and chemical industry:
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Tushar Rajput reports and data 12127101370 Email us here and visit us on social media: Facebook Twitter LinkedIn
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