Global Fatty Acid Methyl Ester (FAME) Market Industry New Revenue Pockets

Northbrook, IL, USA, 2021-Oct-14 — /EPR Network/ —

The global fatty acid methyl ester market is estimated to reach USD 22.13 billion by 2021 at a CAGR of 5.1% from 2016 to 2021. Growing biodiesel demand, stringent environmental rules and regulations, reduction of greenhouse gases, energy efficiency are some of the factors driving the global fatty acid methyl ester market.

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Based on type, the rapeseed methyl ester segment led the market for fatty acid methyl ester. This segment is the largest market segment for the global fatty acid methyl ester market. The rapeseed methyl ester segment is projected to grow at the highest CAGR during the forecast period. Rapeseed oil is the largest source of fatty acid methyl ester feedstock in the world, with more than 1.5 million gallons of biodiesel produced from rapeseed globally in 2009. Rapeseed has better oil content than soybean. Soybean has 18% to 22% oil content while rapeseed has 30% to 37% oil content. The high cetane number of biodiesel produced from rapeseed oil enables complete combustion and thus lowers emissions. Rapeseed is a major biodiesel feedstock used in Europe, and it is expected to dominate the overall fatty acid methyl ester market in future as well.

The North America region accounted for the largest share of the global fatty acid methyl ester market in 2015, owing to presence of various fatty acid methyl ester manufacturers in the region with their sales presence all around the globe. However, Asia-Pacific is expected to be the fastest-growing market in the coming years, in terms of value. This market has the highest growth potential, as emerging economies in the Asia-Pacific region are expected to be key markets. Presently, the fatty acid methyl ester market in Asia-Pacific is at the early growth stage and is growing at a faster pace than that of other regions. The Asia-Pacific biodiesel market has high growth potential, due to the abundant availability of feedstock, such as palm oil in Malaysia, Indonesia, and Philippines and waste oil and animal fat in China and Japan. This is expected to consequently increase the demand for fatty acid methyl ester in the region.

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The global fatty acid methyl ester market is fragmented and is highly competitive with the presence of large number of prominent players. BASF SE (Germany), Wilmar International Limited (Singapore), Cargill Inc. (U.S.), KLK Oleo (Malaysia), ADM Company (U.S.), Emery Oleochemicals (Malaysia) and so on.These companies adopted various strategies such as expansions, joint ventures, and mergers & acquisitions to strengthen their foothold and increase their share in this market. The global fatty acid methyl ester market is expected to have significant potential for growth in the near future.