The global fatty acid methyl ester market is expected to grow from USD 17.26 Billion in 2016 to USD 22.13 Billion by 2021, at a CAGR of 5.1% from 2016 to 2021. Stringent environmental regulations and growing demand for biodiesel are some of the factors that are expected to drive the growth of the fatty acid methyl ester market during the forecast period.
Seattle, WA -- (SBWIRE) -- 01/27/2017 -- The report "Fatty Acid Methyl Ester (FAME) Market by Type (Soya Methyl Ester, Rapeseed Methyl Ester, Palm Oil Methyl Ester), Application (Fuels, Lubricants, Coatings, Food & Agriculture, Metal Working Fluids), and Region - Global Forecast to 2021", The fatty acid methyl ester market is expected to grow from USD 17.26 Billion in 2016 to USD 22.13 Billion by 2021, at a CAGR of 5.1% from 2016 to 2021.
Browse 106 market data tables and 53 figures spread through 154 pages and in-depth TOC on "Fatty Acid Methyl Ester (FAME) Market - Global Forecast to 2021"
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Increase in the use of fatty acid methyl ester in biodiesel and the growing concern for environment are expected to drive the growth of fatty acid methyl ester market.
Rapeseed methyl ester is the largest segment of the fatty acid methyl ester market
The rapeseed methyl ester segment was the largest segment of the global fatty acid methyl ester market. This can be attributed to the increasing use of rapeseed as the primary raw material for fatty acid methyl ester production, as rapeseed has better oil content than other types of raw material for fatty acid methyl ester manufacturing. 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.
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Fuel: largest application segment of fatty acid methyl ester market
The fuel application segment contributed the largest share to the global fatty acid methyl ester market among various applications of fatty acid methyl ester. This growth can be attributed to the significant rise in demand from the biodiesel industry. Fatty acid methyl ester is the primary constituent of biodiesel. Growing environmental concerns on the use of fossil fuel products that increase pollution levels as well as contain toxic volatile organic compounds, are significantly impacting the market for biodiesel as it can be an environment-friendly substituent for fossil fuel.
North America: largest market for fatty acid methyl ester, globally
North America was the largest market for fatty acid methyl ester in 2015. The rise in the demand for fatty acid methyl ester in biodiesel production and the stringent environmental regulations in North America are expected to contribute to the growth of fatty acid methyl ester market in this region. Soy methyl ester was the largest type segment in North America, since North America is a global leader in the production of soybean. The growing application industries, such as fuel, lubricants, and coating, among others are expected to drive the growth of the fatty acid methyl ester market in the region.
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Key players operational in the fatty acid methyl ester market include Wilmar International Limited (Singapore), Cargill Inc. (U.S.), KLK Oleo (Malaysia), ADM Company (U.S.), Emery Oleochemicals (Malaysia), and BASF SE (Germany).
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