Natural Fatty Acids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Natural Fatty Acids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The natural fatty acids market is expected to witness a CAGR of around 5.5% during the forecast period. The major factors driving the growth of market studied are the increasing demand for glycerin to manufacture propylene glycol and epichlorohydrin, government regulations promoting the use of eco-friendly products, broader use of C18s in oilfield and drilling applications, and increasing demand from the cosmetics and personal care market On the flipside, the fluctuating supply, and prices of feedstock materials serve as the major stumbling blocks in growth of the market studied.

Key Highlights

• Household, cosmetics, and personal care products segment dominated the market. The segment is likely to grow during the forecast period due to the growing demand from personal care products, driven by the hygiene awareness and the increased demand resulting from the rise in women's employment.
• Preferences of bio-based raw materials likely to provide opportunities for the market studied during the forecast period.
• Asia-Pacific dominated the market across the world, where the demand is majorly driven by the growing demand and production of cosmetics, personal care products, detergents, and soaps.

Key Market TrendsHousehold, Cosmetics, and Personal Care Segment to Dominate the Market Demand

• The antibacterial, antifungal and antiviral properties of natural fatty acids make it widely popular for use in the household, cosmetics, and personal care market.
• Besides, fatty acid provides an opacifying effect and consistency and increases the thickness of the product. Hence, such properties of natural fatty acids make them widely popular for use in cosmetics and personal care products.
• The personal care products market is expected to cross over USD 200 billion by 2020, with Asia-Pacific and Europe leading the market, which is expected to be driven by high demand for such products in these markets.
• Evolution in consumer lifestyles as a result of rising incomes, increasing urbanization contributing to the increasing consumption of personal care and cosmetic products in the market, and growing awareness about the importance of hygiene have led to the robust growth in demand for household, cosmetics, and personal care products.
• Hence, with the growth in the production of personal care and cosmetic products, the use of natural fatty acids will also continue to grow during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region dominated the global market share. In the region, the demand for natural fatty acids is widely driven by its increasing application in industries, such as cosmetics and personal care, detergent and soaps, oilfield, and lubricants.
• The region has been witnessing strong growth in the demand for personal care and cosmetic products, majorly driven by the influence of western culture. This has led to the increased usage of cosmetic products by teenagers, increased awareness of being presentable with growing women employment, and hygiene awareness, owing to which the production of such products has also been increasing in the region.
• Besides, Asia-Pacific is also the largest producer of products, such as soaps, rubber, and plastics. The production of rubber and plastics has been increasing noticeably in the region with growing usage from industries, such as construction, automotive, and electronics.
• The construction industry in the region has been witnessing strong growth owing to the growing residential and commercial construction in countries, such as India, China, Indonesia, Singapore, and Vietnam. Besides, automotive production in countries, like India, Malaysia, Thailand, and Indonesia, have also been increasing substantially.
• With this, the demand for plastic and rubber is expected to increase, which is further likely to drive the demand for the natural fatty acids market during the forecast period.
• Hence, all such trends in the region are projected to drive the growth of the natural fatty acids market in the coming years.

Competitive Landscape

The natural fatty acids market is a consolidated market, where key major players holding significant share of the market demand. Some of the major players in the market include BASF SE, Eastman Chemical Company, LG Chemicals, AkzoNobel N.V., and Ashland, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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