Fatty Acid Methyl Esters Market
Global fatty acid methyl esters market is estimated to be valued at USD 22.95 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031. Fatty acid methyl esters are the products obtained when fatty acids react with an alcohol in a process known as transesterification. This reaction is commonly carried with methanol to produce biodiesel, a renewable fuel made from plant and animal fats. Fatty acid methyl esters have similar properties to conventional diesel fuel and can be directly used in compression ignition engines. The global demand for biodiesel is rising steadily owing to the depleting fossil fuel reserves and stringent government regulations aimed at reducing vehicular emissions. As a result, the production and trade of FAMEs, which are the primary component of biodiesel, is expanding across major economies.
Market Dynamics:
The global fatty acid methyl esters market is driven by the rising demand for biodiesel from the transportation sector. Government incentives and subsidies for biodiesel production and adoption are boosting the market growth. The mandatory blending targets for biodiesel being adopted by countries will augment the consumption of FAMEs in the coming years. For instance, the European Union has set a target of 14% renewable energy in the transportation sector by 2030. However, the fluctuating supply of raw materials such as vegetable oils can hamper the market growth. Moreover, the higher production cost of biodiesel compared to fossil fuels remains a key challenge. Nonetheless, technological advancements in refining processes and the development of alternative low-cost feedstock are expected to unlock new opportunities. Advancements in feedstock technologies and development of non-edible feedstocks provide new opportunities for sustainable biodiesel production. Market players are investing in R&D to develop advanced technologies to produce biodiesel from algae-based and waste feedstocks.
Key Features of the Study:
- This report provides in-depth analysis of the global fatty acid methyl esters market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global fatty acid methyl esters market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Acme Synthetic Chemicals, ADM (Archer Daniels Midland Company), Cargill, Incorporated, Chemrez Technologies, Inc., CREMER OLEO GmbH & Co. KG, Elevance Renewable Sciences, Inc., Emery Oleochemicals, Godrej Industries Limited, JNJ Oil Industries, Inc., KLK OLEO, Krishi Oil Limited, Mohini Organics Pvt. Ltd., P&G Chemicals, Renewable Energy Group, Inc., Stepan Company, Univar Solutions Inc., Vertec BioSolvents Inc., Victorian Chemical Company Pty Ltd., and Wilmar International Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global fatty acid methyl esters market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global fatty acid methyl esters market
Market Segmentation
Table of Contents
* Browse 50 market data tables* and 40 figures* on “Global Fatty Acid Methyl Esters Market” – Global forecast to 2031.
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