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During the forecast period ranging from 2022-2032, the medical plastics market is expected to grow at a value of 7.8%. In 2021, this market was predicted to have a global valuation of US$ 46.5 Billion, and is expected to reach a sum of US$ 106.23 Billion by 2032, according to a recent report published by Future Market Insights. The market is going to face increasing demand owing to the increase in growing geriatric population and various advancements in the field of medical science.

From 2017 to 2021, the Medical plastics industry grew at a CAGR of 6.3%. Since medical plastic does not permeate and is shatter-proof, it is an excellent choice for transporting biohazardous materials. Dangerous pathogens can be kept at bay by properly disposing of medical waste. Furthermore, these plastics have higher levels of safety and antimicrobial properties than other raw materials. Because medical plastics aid in decontaminating samples and securely containing them, the medical plastic market is gaining significant traction in the healthcare sector.

The growing elderly population in the United States, as well as the growing demand for home healthcare services, are driving medical plastics demand in North America. Furthermore, the pharmaceutical sector in Mexico and Canada is expected to expand rapidly, fueling product demand in the pharmaceutical packaging market. At the same time, APAC is estimated to be the leading market for medical plastics during the forecast period, owing to strong investments in R&D and digitization in the healthcare ecosystem.

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Key Takeaways from the Market Study

• In 2022, the global medical plastics market is estimated to have a global market size of US$ 50.13 Billion.
• Medical plastics market in North America acquired 34% of the global market share in 2021.
• Asia Pacific is expected to grow with a 5% CAGR during 2022-2032.
• By product, the Polyphenylsulfone segment took over 52% of the global Medical plastics market share in 2021.
• By application, the medical components segment acquired 42% of the global market share in 2021.

“The demand for medical plastics is expected to rise in the future due to the growing geriatric population and the increased need to find better alternatives to steel and glass medical instruments and equipment. Various technological advancements in this field, especially for prosthetics, will create new opportunities during the forecast period. ,” comments a Future Market Insights analyst.

Competitive Landscape

The global medical plastics market is fragmented due to strong distribution networks and a wide range of products offered by large and small companies in emerging and developing economies. The major growth strategies employed by market players to expand their regional presence and meet the growing demand for medical plastics in emerging economies between 2017 and 2022 were new product launches, agreements & collaborations, expansions & investments, and mergers & acquisitions. Establishment players are creating new medical products through research and development.

• In the first quarter of 2022, Evonik Industries AG introduced VESTAKEEP iC4800 3DF, a PEEK (polyether ether ketone) filament that would improve the fusion between implants and bones.
• In January 2021, PTA Plastics, for example, invested more than $2 million in capital equipment and buildings. These injection moulding and finishing machines and equipment will be used for medical plastics products.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global Medical plastics market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of product type (Polyethylene (PE), Polycarbonate (PC), Polypropylene (PP), Polyphenylsulfone (PPSU), Liquid Crystal Polymer (LCP), Polyethylenimine (PEI), Polyethersulfone (PES), Polymethyl Methacrylate (PMMA) others), by application size (Medical Device Packaging Orthopedic Implant Packaging, Medical Components, Orthopedic Soft Goods, Cleanroom Supplies, Wound Care and Others), and across five major regions (North America, South America, Europe, Asia Pacific and Middle East & Africa).

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About the Chemicals & Materials Division at Future Market Insights

The chemicals & materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the healthcare industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global Faux Paints and Coatings market is valued at US$ 2.1 Bn in 2022 and is expected to reach US$ 4.2 Bn by 2032, expanding at a CAGR of 6.3% between 2022 and 2032. According to Future Market Insights, a market research and competitive intelligence provider, global Faux Paints and Coatings consumption has increased at a CAGR of roughly 5.7% over the last half-decade.

Demand for material-based adhesives is increasing in public and private applications for superior finishes, and a growing acceptance of authentic synthetic finishes, especially in emerging economies, is anticipated to increase the development of the global artificial finish coatings market over the coming decade.

New residential and non-residential developments, particularly in emerging regions, have an impact on the growth of the Faux Paints and Coatings industry. The desire for house décor and painting is projected to fuel demand for fake coatings.

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Key Takeaways from Market Study

• Faux Paints and Coatings Market was valued at US$ 7.2 Bn in 2021. According to Future Market Insights, Faux Paints and Coatings Market revenue would increase 1.8X between 2022 and 2032, reaching roughly US$ 6.4 Bn in 2032.
• In terms of Type, revenue through Plasters is expected to accounts for the highest projected CAGR of over 7%.
• In terms of Application of Faux Paints and Coatings, Building and Construction accounts for the highest CAGR of 6.2% during the historic period (2017-21).
• US is the dominant region in Faux Paints and Coatings Market with an absolute dollar growth opportunity of over US$ 2.2 Bn.

Plasters had the largest market share in 2021, accounting for about 30% of the market. Throughout the projected period, this product segment is likely to dominate the worldwide market.

Winning Strategy

Because of its greater bond than powder compounds, Faux Paints and Coatings are widely used in the residential sector. In the near future, the worldwide Faux Paints and Coatings market is expected to be driven by an increase in the use of Faux Paints and Coatings as bonding agents in the building sector.

Competitive Environment

The worldwide Faux Paints and Coatings industry is fragmented and reliant on a few significant players. To maintain their top positions, these important firms are stressing the development of increasingly innovative and diverse goods.

• In 2021, Faux Effects International Inc. announced the release of WALL SILK in 2021, a one-of-a-kind Faux Effects decorative coating that, when combined with ShimmerCoat, evokes the look, feel, and elegance of raw silk and other magnificent materials.
• In 2020, PPG Industries, Inc. announced that it will introduce a new line of fake finish coatings in a variety of neutral hues.

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Market Segments Covered In Faux Paints And Coatings Market Analysis

By Type:

• Plasters
• Metallics
• Wall Glazing
• Marbleizing
• Other Types

By Application:

• Building & Construction
• Furniture
• Other Applications

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

Future Market Insight’s Domain Knowledge in Chemicals and Materials Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals and Materials domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Chemicals and Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global sales of electrical steel are set to be valued at over US$ 37.5 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report estimates the market to expand at over 6.5% CAGR from 2021 to 2031.

According to the annual market analysis conducted by Future Market Insights, expansion of the energy and automobile industries has led to heightened demand for electrical steel products. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.

In spite of the recessionary effect of the COVID-19 pandemic in 2020, the overall steel industry in terms of production and supply has largely remained unaffected. With the continual demand from the energy industry, growth of electrical steel in the coming decade is expected to reflect an upward trajectory for the foreseeable future.

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Demand for electrical steel is increasing with the rise in the volume of transformer and motor production and sales in recent years. This can be attributed to an increase in investments and expansion of new power generation and transmission projects in developing nations.

The growing requirement of mass production has resulted in increased importance of process automation in the electrical steel market. The market is shifting towards Industry 4.0 norms, leading to the promotion and universal adoption of new production technologies.

There is also an increasing demand from energy and automotive industries for deployment of electrical steel in various applications. Increasing number of players focusing on research and development related to electrical steel is anticipated to have a significant contribution towards market growth in the years to come.

Key Takeaways from Electrical Steel Market Study

• Grain-oriented electrical steel is projected to hold over 51% percent of the global market share in 2021, supported by superior structural characteristics.
• The energy sector is projected to hold over 33% of the overall market share as an end-user by 2031-end, supported by major investments into renewable energy projects.
• The U.S. will remain a chief market, backed by rising demand from the energy sector. It is expected to account for over 86% of demand registered in North America in 2021.
• The markets in India and China are set to surge at around 8% and 7% CAGR over the next ten years.
• Russia is emerging as a key market in Europe, accounting for over US$ 2.1 Bn in 2021, driven by a massive energy infrastructure requirement.

“The electrical steel market is growing at a strong pace driven largely by increasing demand from the energy industry for applications in motors, transformers, and components. The increasing investment in power generation and transmission projects will create extensive opportunities for electrical steel manufacturers. Key industry participants are investing in expansions, strategic alliances, partnerships, and material innovations to gain a competitive advantage in the evolving global market. These partnerships will allow companies to improve their production capacity and strengthen their technical expertise,” says a Future Market Insights analyst.

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Competitive Landscape

The electrical steel market is moderately consolidated, with key players accounting for more than 50% of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel & Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, ArcelorMittal SA, Aperam SA, Baosteel Group, AK Steel Holding Corp, Allegheny Technologies, Inc., Phoenix Mecano AG, and Steel Authority of India Limited.

Electrical Steel Market by Category

By Product Type:

• Grain-Oriented Electrical Steel
• Non-Grain Oriented Electrical Steel

By Application:

• Inductors
• Motors
• Transformers

By End Use:

• Automobile
• Manufacturing
• Energy
• Household Appliance
• Others (Construction, Fabrication)

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global agricultural grade zinc chemicals market is estimated to garner US$ 1.3 Billion while exhibiting a 5.4% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 760.0 Million in 2022.

Growth and expansion of the agricultural industry especially in the developing economies, the development of fertilizers will create lucrative opportunities for growth of the agriculture grade zinc chemicals market. Also, the rising number of research and development by the leading manufacturer and the use of zinc chemicals in agriculture is the primary factor driving the growth of the agricultural grade zinc chemicals market.

The chemical fertilizer segment is likely to offer remunerative opportunities for the global agricultural grade zinc chemicals market. Several emerging economies are making significant developments in their agricultural sector, thereby, providing lucrative opportunities to players in the market.

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Key Takeaways:

• By application, the chemical fertilizer segment is expected to record a 5.4% CAGR by 2032
• By type, the zinc sulphate segment to expand at a 5.3% growth rate during the forecast period
• The U.S market to garner US$ 462.2 Million and record a 5.2% CAGR from 2022-2032
• Market in China to procure US$ 92.9 Million, expanding at a 4.8% growth rate during the assessment period

“Growth and expansion of agricultural industry especially in the developing economies, and development in fertilizers, is expected to fuel the demand of agricultural grade zinc chemicals market over the forecast period,” says an FMI analyst.

Competitive Landscape

Eminent players of the global agricultural grade zinc chemicals market include UPL, Syngenta Crop Protection AG, IFFCO, Yara, and Zochem Inc. among others.  Recent developments among players include:

• In June 2020 – IFFCO signed MoU with ICAR for collaborative research, testing & extension programs across the country for collaborative research, testing and validation of different products through ICAR institutes and Krishi Vigyan Kendras (KVKs). This will also enable these centers to disseminate technological advancements by imparting training, through awareness programs, campaigns, field trials and demonstrations for the benefit of farmers.
• In May 2021 – Yara, a leading crop nutrition solutions provider, announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global agricultural grade zinc chemicals market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Zinc Oxide, Zinc sulphate, EDTA chelated zinc, Sulphur Zinc Bentonite, Zinc chloride, Other), by Application(Animal feed, chemical fertilizer, others), and Region (North America, Europe, APAC, Middle East & Africa, and Latin America)

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global propylene carbonate market is anticipated to expand at a steady 6.3% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI). Propylene carbonate is largely utilized as a solvent for the production of paints and coatings, cleaning solvent in the cleaning and degreasing industry, and as an electrolyte in Li-Ion batteries.

In recent years, companies are focusing on developing new materials with high purity levels at competitive prices. Propylene carbonate is utilized as a long-lasting and ‘green’ alternative for various chemical industrial solvents.

While due to its lower vapor pressure and negligible photochemical reactivity it is an effective substitute for toluene, acetone, NMP, and methyl chloride. Such aforementioned properties of propylene carbonate are expected to increase consumption concerning environmental regulations.

The worldwide propylene carbonate market is being driven by factors such as increased usage of propylene carbonate in industrial processes as solvents, increased demand for paints & coatings, personal care.

Also, growing usage as a cleaning solvent in gas treating and petrochemical applications to boost the market. Propylene carbonate is extensively used in lithium-ion batteries to improve polarity by forming a solvation shell around lithium ions. It is also used in the production of cosmetics like lipsticks, mascara, eye shadow, and other similar items.

Regionally, the market is anticipated to be dominated by East Asia, which is expected to continue in the future evaluation period. Backed by the aforementioned factors, the global propylene carbonate market is projected to top US$ 463.7 Mn by the end of 2032.

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“Over the forecasted period, sales of propylene carbonates are expected to be driven by the increased utilization in Li-ion batteries and paints & coatings. Meanwhile, propylene carbonate is environmentally friendly and has the potential to effectively replace other hazardous chemical solvents,” says an FMI analyst.

Key Takeaways:

• By product form, demand for aqueous propylene carbonate is expected to surge at a 4% CAGR over the forecast period.
• The lithium-ion batteries & electronics segment is anticipated to grow at 7.5% CAGR during the forecasted period.
• The personal care & cosmetics segment of the propylene carbonate market is anticipated to grow at a 7% CAGR through 2032.
• The propylene carbonate market in the U.S. is anticipated to reach 6% CAGR by the end of 2032.
• China will emerge as the most lucrative propylene carbonate market, with sales growing at a 2% CAGR over the forecast period

Competitive Landscape         

Key market participants in the global Propylene Carbonate market elaborated in the report include BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings B.V., Shandong Shida Shenghua Chemical Group Co., Ltd., Linyi Evergreen Chemical Co., Ltd, SMC – Global and others are the leading players in the market

Key players operating in the global propylene carbonate market are focusing on increasing the utilization of propylene carbonate in paints & coating, personal care & cosmetics industries. However, some key players are focused to provide ultrapure propylene carbonate for li-ion batteries.

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More Insights into the Propylene Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the global Propylene Carbonate market, providing historical data from 2016 to 2020 and forecast statistics for the period 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Form (Aqueous and Pellet), By Application (Paints & Coatings, Cleaning & Degreasing, Personal Care & Cosmetics, Textile Dyeing, Lithium-Ion Batteries & Electronics, & Others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, And Middle East & Africa)

About FMI – Chemicals and Materials      

The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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According to a recent study by Future Market Insights, the acrylic acid market is expected to reach US$ 22.6 Billion by 2032, up from US$ 14.6 Billion in 2022, expanding at a CAGR of 4.5%. Rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.

Acrylic acid-based polymers have replaced conventionally used materials in major end-use industries, such as automotive, building and construction, electronics, and others. Acrylic acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative to synthetic rubber in various applications, such as an automotive gasket, hoses, and others.

In addition, owing to the improved properties of AEM, such as strength, and resistance, among others, there is an increasing demand for acrylic acid from the polymer industry during the forecast period. Additionally, the rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market.

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Key Takeaways from the Market Study

• Global acrylic acid market was valued at US$ 14.6 Billion by 2022-end
• The U.S to account for the highest value share of US$ 7.8 Billion of global market demand for acrylic acid in 2032
• From 2015 to 2021, acrylic acid demand expanded at a CAGR of 2%
• By Product, the acrylate esters category constitutes the bulk of Acrylic Acid Market with a CAGR of 6%.

“Increasing demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application, is one of the major factors that is anticipated to propel the industry growth over the forecast period,” remarks an FMI analyst.

Competitive Landscape

Players in the global acrylic acid market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some recent developments among the key players are:

• In August 2021, BASF and SINOPEC decided to expand their Verbund site operated by BASF-YPC Co. Ltd, a 50-50 joint venture of both companies in Nanjing, China. It includes the capacity expansion of several downstream chemical plants, including a new tert-Butyl acrylate plant to support the growing Chinese market.
• In October 2020, Arkema successfully started a its new 90,000-ton acrylic acid reactor at its Clear Lake site in Texas to attract consumers from paints, super-absorbents, water treatment, and adhesives markets in North America.
• In August 2018, BASF PETRONAS Chemicals announced the expansion of the production capacities of its acrylic acid and butyl acrylate plants in Kuantan, Malaysia.

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Know More about What the Acrylic Acid Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Acrylic Acid Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.

To understand opportunities in the Acrylic Acid Market, the market is segmented on the basis of product, and end-use industry across five major regions.

Key Segments Covered In The Acrylic Acid Market Study

Acrylic Acid Market by Product:

• Acrylate Esters
• Glacial Acrylic Acid
• Other Acrylic Acid Products

Acrylic Acid Market by End-Use Industry:

• Acrylic Acid for Surfactants
• Acrylic Acid for Organic Chemicals
• Acrylic Acid for Adhesives & Sealants
• Acrylic Acid for Textiles
• Acrylic Acid for Water Treatment
• Acrylic Acid for Personal Care Products
• Acrylic Acid for Other End-Use Industries

Acrylic Acid Market by Region:

• North America Acrylic Acid Market
• Latin America Acrylic Acid Market
• Europe Acrylic Acid Market
• Asia Pacific Acrylic Acid Market
• Middle East and Africa Acrylic Acid Market

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The global ethylene carbonate market is projected to expand at a 6.2% CAGR during the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis. Ethylene carbonate sometimes known as EC is an organic compound. At room temperature, it is a transparent crystalline solid and soluble in water and is odorless and colorless compound. Ethylene carbonate has various applications in different end-use industries such as automotive, and oil & gas.

Growing usage of lithium-ion batteries in electric vehicles will augment the growth in the market. Ethylene carbonate is one of the most reactive solvents relevant to lithium-ion batteries (EC). Increasing sales of electric vehicles are bolstering the demand for Li-ion batteries, thereby favoring the growth in the ethylene carbonate market.

Ethylene carbonate is an important reactive intermediate in the production of lubricants and greases. Lubricants are widely used in the manufacturing and transportation industries to ensure smooth operation of the object. Consumption of ethylene carbonate is expected grow across the industrial, automotive, and oil and gas sectors, where lubricants are widely used.

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As per FMI, the global ethylene carbonate market is expected to be dominated by East Asia and the trend is predicted to continue during the forecast period. The ethylene carbonate market in East Asia is projected to top US$ 175.0 Mn by 2032.

“Over the assessment period, sales of ethylene carbonate are expected to be driven by its consumption in lithium battery electrolytes & lubricants across the globe, followed by plasticizers and surface coatings.” says an FMI analyst.

Key Takeaways:

• Based on application, the lubricants segment is projected to hold approximately 32% of the total market share in 2022.
• Sales in the lithium battery electrolyte segment will grow at 6.4% CAGR through 2032.
• In terms of end use, demand in the automotive segment will reach a valuation of US$ 204.1 Mn by 2032.
• The India ethylene carbonate market is forecast to expand at a 6.8% CAGR over the assessment period.
• The China ethylene carbonate market will reach a valuation of US$ 127.3 Mn by 2032.
• East Asia will emerge as an attractive ethylene carbonate market, creating an incremental dollar opportunity of US$ 83.5 Mn over the forecast period.

Competitive Landscape         

Huntsman Corporation, BASF SE, Oriental Union Chemical Corporation, Mitsubishi Chemical Corporation, Toagosei Co., Ltd., Asahi Kasei, Shandong Shida Shenghua Chemical Group, Shandong Senjie Chemical, Zibo Donghai Industries, and others are some of the leading players operating in the global ethylene carbonate market.

Key players are investing in mergers, acquisitions, and collaborations to improve their product potfolios. They are also investing in production facility expansions to cater to the growing demand from various end use sectors. For instance:

• In June 2021, Huntsman Corporation’s Performance Products division announced plans to significantly increase its existing capacity for ULTRAPURETM Ethylene Carbonate at its Conroe, Texas facility by mid-2023. ULTRAPURETM Ethylene Carbonate is essential for the safe operation and long life of lithium-ion batteries used in electric vehicles (EVs) and electronics.

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More Insights into the Global Ethylene Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the Global Ethylene Carbonate market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on product form (solid & liquid), by application (lithium battery electrolyte, plasticizers, lubricants, surface coatings, and others), by end-use industry (oil & gas, automotive, pharmaceuticals, and others) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

About FMI – Chemicals and Materials

The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
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The global fatty esters market is expected to secure US$ 3.4 Billion while exhibiting a 4.4% growth rate during the 2022-2032 forecast period. The market was estimated at US$ 2.1 Billion in 2021, and is likely to reach US$ 2.2 Billion in 2022. Growth of the market can be attributed to the extensive usage of fatty esters in a wide range of industries, including cosmetics & personal care, as well as biofuels.

The increasing use of fatty esters in end-use industries such as food, biochemical and agricultural is expected to boost the growth of the market during the forecast period. Growing demand for fatty esters for industrial applications owing to its environment friendliness is expected to augment market growth over the forecast period.

On the contrary, inadequate availability of raw materials is also one of the major factor affecting the growth of the market. In addition to it, lack of proper developed infrastructure in the underdeveloped nations is major disadvantage faced by the market is the another factors projected to hamper the industry growth in the forecast period.

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Key Takeaways from the Report

• By type, the fatty acid methyl esters (FAME) segment is expected to record an 4.1% CAGR by 2032
• By application, the synthetic lubricant segment to expand at a 3.9% growth rate during the forecast period.
• The U.S market to garner US$ 1.2 Billion and record an 4.3% CAGR from 2022-2032
• Market in China to procure US$ 235 Million, expanding at a 3.9% growth rate during the assessment period

 “Growing demand of fatty esters for expansion of cosmetics industry across the globe is expected to drive the market in the forecast period. Also, the development of food, biochemical and agriculture industries is projected to play a vital role in strengthening the market.”

Competitive Analysis

Eminent players in the global fatty esters market include Faci Asia Pacific Pte. Ltd., KLK Oleo, Estelle Chemicals Pvt. Ltd., Evonik Industries, and DuPont, among others. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market. Recent key developments among players include:

• In July 2021, Verbio AG signed an MoU (Memorandum of Understanding) with Indian Oil Corporation Ltd. The MoU will explore the possibility of creating a Joint Venture Company using Verbio’s technology and expertise in the production of biofuels (biomethane (CBG/BioCNG), bioethanol, and biodiesel) and for marketing these biofuels through Indian Oil’s network.
• In March 2021, Renewable Energy Group Inc. collaborated with Optimus technologies. This collaboration deliver biodiesel to fleets across the United States. With Optimus’ new technology, biodiesel can be utilized as B100 in fleets, i.e., with 100% blended biodiesel.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global fatty esters market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of type (fatty acid methyl esters, polyol esters, sorbitan esters, sucrose esters and other types) and application (synthetic lubricants, pharmaceuticals, personal care products, food, biofuel application and other applications) across five major regions (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).

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