Key Insights on the Global Fatty Acid Methyl Ester Market| Technavio

LONDON–(BUSINESS WIRE)–#FAME–The latest market research report by Technavio
on the global fatty acid methyl ester (FAME) market predicts a
CAGR of around 5% during the period 2017-2021.

The report segments the global
fatty acid methyl ester market by application (fuel, coatings,
lubricants, metalworking fluid, and food and agriculture) and by
geography (North America, Europe, APAC, and ROW). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global fatty acid methyl ester
market, according to Technavio chemicals
and materials researchers:

• Growth of personal care industry: a major market driver
• The global FAME market by fuel accounted for a market share of around
  39% in 2016, making it the largest segment
• In 2016, North America dominated the FAME market and accounted for a
  market share of around 36%
• Cargill, Emery Oleochemicals, Kuala Lumpur Kepong Berhad, Wilmar
  International, and Wratislavia-BIOdiesel are the leading players in
  the market

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Growth of personal care industry: a major market driver

The growth of the personal care industry is one of the major factors
driving the global
fatty acid methyl ester market. FAME is extensively used in
cosmetics and personal care applications. During the forecast period,
the increasing demand for FAME in creams, lotions, and moisturizers will
propel the market growth. End-users in developing as well as developed
countries such as Canada, the US, Australia, France, China, the UK,
India, Saudi Arabia, and Germany spend on cosmetics. Therefore, the
consumption of cosmetic products is high in these regions, which is
attributed to the high disposable income. FAME is manufactured from raw
materials such as fats and oils from animals and vegetables by a process
known as transesterification. The basic raw materials used in the
production of FAME include vegetable oils and animal fats, which are
biodegradable and non-toxic in nature.

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North America: largest FAME market

In 2016, North America dominated the FAME market and accounted for a
market share of around 36%, according to Technavio researchers. The FAME
market in North America is predicted to witness significant growth due
to the increasing demand for FAME in the production of biodiesel. The
FAME market in North America is expected to grow at the highest CAGR
during the forecast period because of the increasing demand for FAME
from end-user industries such as fuel, food, and agriculture in the US.

According to Ajay Adikhari, a lead analyst at Technavio for research on specialty
chemicals, “Regulatory favorability for biodiesel in North
America to combat global warming is driving the FAME market in this
region. The use of conventional fuel results in the emission of
greenhouse gas that lead to global warming. To protect the environment,
governments in North America encourage the use of biodiesel. This will
drive the market demand for FAME during the forecast period.”

Competitive vendor landscape

The global
FAME market is dominated by five prominent vendors that comprise of
Cargill, Emery Oleochemicals, Kuala Lumpur Kepong Berhad, Wilmar
International, and Wratislavia-BIOdiesel. These players have a vast
geographical presence with production facilities located across the
globe. However, there are many local and regional vendors with
substantial shares of the market. Vendors compete based on factors such
as operational cost, innovation, price, and product quality. Some of the
players can drive down market prices because their costs are lower than
their competitors. Additionally, some of the suppliers have more
financial, technological, and other resources and can better withstand
the changes in the market conditions.

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