H1 2023: The US market's fatty acid pricing dynamics persisted at the highest levels during the first two months of 2023. The personal care sectors' downstream purchases increased and reinforced the market's perceptions of fatty acids. The inventory release has strengthened positive market sentiments. The production facilities were running at a regular rate, and there was ample of inventory to satisfy the demand for goods downstream. Nevertheless, the price trends for fatty acids moved southward in March 2023. The burden on the production activities has been reduced together with the cost of input energy materials. The market foundations for fatty acids in the US domestic market were undermined by the decline in demand from the downstream personal care industry. The price realizations of fatty acids have been under pressure to decline as a result. Furthermore, the increase in inquiries from the downstream Personal Care sector was primarily responsible for the rise in price in May 2023. Additionally, there was enough palm oil available upstream, as production rates hiked in the month of May. The sentiment of the fatty acid market suffered significant harm at the conclusion of H1 2023.
The global Fatty Acid market stood around 16.5 million tonnes in 2022 and is expected to grow at a CAGR of 5.01% during the forecast period until 2032.
It is projected that the growing use of fatty acids in pharmaceutical, nutraceutical, and household cleaning goods will significantly fuel market expansion for fatty acids. Additionally, over the course of the study period, the market will have a significant opportunity due to the development of new products for cleaning surfaces, dishes, floors, fabrics, and surfaces. Fatty acids are increasingly found in a wide range of cosmetics and personal hygiene products, such as moisturizers, soaps, and detergents. Many household cleaning products, such as detergents, bleaches, and cleansers, include fatty acids. Fatty acids including lauric, myristic, palmitic, stearic, ricinoleic, oleic, linoleic, and linolenic acids are some of the ones used in soap and detergent formulations. About 70–85% of natural herbal soap bars are composed of sodium salts of fatty acids, which are made from triglycerides or hydrolyzed fatty acids. The body needs omega fatty acids, which are abundant in fish oils. Omega-3 supplements can be taken orally or medicinally, and they can help reduce the symptoms of rheumatoid arthritis. Fatty acids offer dietary assistance for reducing body fat and boosting lean muscular mass.
Over the course of the forecast period, the market is predicted to grow as a result of the growing demand for fatty acids in a variety of personal care and cosmetics products, such as detergent, moisturizers, and soap. Furthermore, rising disposable incomes, urbanization, and consumer lifestyle changes have increased the use of cosmetics and personal care items are likely to enhance the demand for fatty acids. Consumers in countries like China, India, and the United States are becoming more health conscious, which is driving up demand for foods and drinks high in nutrients. The demand for convenient, healthful foods that have been fortified is further driven by rising income levels and an increasing urban population. The demand for omega-6 and omega-3 fatty acids in the food and beverage industry continues to be stimulated by growing knowledge of the benefits of a better diet and active lifestyle, which is expected to accelerate market expansion in the projection period. The Fatty Acid demand in the forecast period and reach 27 million tonnes in 2032.
Based on region, Asia Pacific region is among the leading consumers across the globe. On the other hand, the food and beverage, pharmaceutical, and domestic cleaning industries are likely to drive up demand for fatty acid across North America. One of the main markets for fatty acids is the United States.. The market demand is anticipated to be driven throughout the projected period by the abundance of raw materials and the growing demand for nutraceutical products. The need for cosmetic items is rising in the European Union as people's preferences for improved appearances grow. The rise of the fatty acids market in the European Union (EU) region is expected to be supported by the growing usage of cosmetics across Europe.
Based on type, the global market for fatty acids is divided into saturated and unsaturated segments. In 2022, the unsaturated category held the biggest market share for fatty acids worldwide. The increasing ubiquity of the unsaturated segment type in the pharmaceutical industry is responsible for its large share. Unsaturated fatty acids can reduce inflammation, improve blood cholesterol levels, and stabilize cardiac rhythms. The usual sources of unsaturated fats are canola, soybean, almonds, avocados, and olive oil.
Based on the end-user industry, the global Fatty Acid market is divided into Soaps & Detergents, Personal Care & Cosmetics, Oil field, and Others. Although, Soaps & Detergents industry is the dominating as a consumer, with a market share of approximately 28% of the total demand in 2022. Moreover, it is expected that the Personal Care & Cosmetics industry will experience a surge in the forecast period.
Major players in the production of Global Fatty Acid market are Akzo Nobel, BASF SE, Ashland Inc., Eastman Chemical Company, DOW, Croda International Plc, Cargill Incorporated, Arizona Chemicals, Koninklijke DSM NV, and Oleon N.V.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Fatty Acid which covers production, demand and supply of Fatty Acid market in the globe.
• To analyse and forecast the market size of Fatty Acid
• To classify and forecast Global Fatty Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Fatty Acid market in the globe.
To extract data for Global Fatty Acid market, primary research surveys were conducted with Fatty Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Fatty Acid market over the coming years.
ChemAnalyst calculated Fatty Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Fatty Acid across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Fatty Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Fatty Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Fatty Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Fatty Acid s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
16.5 million tonnes
Market size Volume by 2032
27 million tonnes
Growth Rate
CAGR of 5.01% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Type, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Soaps & Detergents, Personal Care & Cosmetics, Oil field, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What is the expected global market size of Fatty Acid in terms of volume for 2032?
Ans:
The global market size of Fatty Acid is expected to reach approximately 27 million tonnes by 2022, and it is expected to further expand with a CAGR of 5.01%.
Q2.
What are the major end-use industries of Fatty Acid?
Ans:
Fatty Acid is used in a wide range of end use industries including Soaps & Detergents, Personal Care & Cosmetics, Oil field, and Others.
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