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Fatty acid Market is expected to grow at ~9.4% CAGR during 2016-2022
A fatty acid consists of a straight chain of an even number of carbon atoms, with hydrogen atoms along the length of the chain and at one end of the chain and a carboxyl group (?COOH) at the other end. Fatty acids are not found in a free state in nature. Commonly, they exist in combination with glycerol in the form of triglyceride.
Fatty acid used in many industry which includes Health Care, cosmetics industry and textile industry. Main types of fatty acid are saturated, monosaturated, polysaturated and tran?s fat. Saturated products include palmatic acid, stearic acid, and myristic acid. Monosaturated products include oleic acid & palmitoleic acid whereas polysatuared includes linoleic acid and linoolenic. Omega-3 has leading positions in dietary supplements and clinical nutrition categories. High quality Omega-3 powders for food and infant nutrition applications. Other areas of applications include pharmaceuticals where fatty acids are used as an inactive ingredient in preparation of drugs and as carriers for lipid formulation Stearic acid, lauric acid and oleic acid. Known for high stability, mild odor and white color, are suitable for cosmetics industry.
Global Fatty Acid Market is set for a potential growth and estimated over ~22 million tons in 2014 and expected to reach double digit growth in future
Key players of the global fatty acid market are
- Akzo Nobel N.V (Netherlands),
- BASF SE (Germany),
- Arizona Chemicals (U.S.),
- Ashland Inc. (U.S.),
- Eastman Chemical Company (U.S.),
- Oleon N.V.( Belgium),
- Godrej Industries (India),
- Colgate-Palmolive Ltd (India),
- Ferro Corporation(U.S.)
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The major driving factors of fatty acid market are growing demand from personal and home care products and emerging economies in the Central and South America. In addition, the increasing demand from the detergent and soap industry is expected to fuel market growth of fatty acids in near future. Biological effects due to deficiency of fatty acids are expected to hamper the growth of fatty acids. Potential effects include blood pressure, stroke, coronary artery disease, inflammation among others.
The global Fatty acid market is majorly segmented on the basis of application. Based on application of fatty Acid the market segmented into Health Care, food industry, lubricants, agrochemicals, and textile industry. Additionally, the market is segmented by type as saturated, monounsaturated, polyunsaturated, andTransfats.
Asia pacific is largest consumer and producer of fatty acids including China, India and Malaysia covering most of the market share of fatty acid production. China covers more than half of the Asia?s fatty acids market share being the application of soap, detergent and cosmetic. Europe comes at second position in market share of fatty acids consumption and is expected to show moderate growth rate due to, price fluctuation, market saturation and change in market trends. North America shows moderate consumption of fatty acids. The market share of North Americas for same is expected to grow in future due to presence of variety of industries and their natural fatty acids requirement.
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