Natural Fatty Acids Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Natural Fatty Acids Market Analysis
During the time frame of the forecast, the market for natural fatty acids is expected to register a CAGR of more than 5%.
COVID-19 impacted the overall natural fatty acid market due to the halt in production. However, the upsurge in cosmetics and personal care products has propelled the demand for fatty acids post-pandemic.
- The major factors driving the growth of the market studied are the increasing demand for glycerin to manufacture propylene glycol and epichlorohydrin, government regulations promoting the use of eco-friendly products, the broader use of C18 in oilfield and drilling applications, and the increasing demand from the cosmetics and personal care market.
- On the flip side, the fluctuating supply and prices of feedstock materials serve as the major stumbling blocks in the growth of the market studied.
- During the forecast period, the market that was looked at is likely to have opportunities due to the demand for bio-based raw materials.
- Asia-Pacific dominated the market across the world, where the demand is primarily driven by the growing demand for and production of cosmetics, personal care products, detergents, and soaps.
Natural Fatty Acids Market Trends
This section covers the major market trends shaping the Natural Fatty Acids Market according to our research experts:
Household, Cosmetics, and Personal Care Segment to Dominate the Market Demand
The antibacterial, antifungal, and antiviral properties of natural fatty acids make them widely popular for use in the household, cosmetics, and personal care markets.
- Besides, fatty acid provides an opacifying effect and consistency and increases the thickness of the product. As a result of these properties, natural fatty acids are widely used in cosmetics and personal care products.
- The personal care and cosmetic industry accounted for around USD 317 billion in 2021, with Asia-Pacific and Europe leading the market, which is expected to be driven by high demand for such products in these markets. Also, by 2027, the personal care industry is expected to be worth about USD 354,80 billion.
- According to the Industry Association for Personal Care and Detergents e. V. (IKW), revenues from laundry detergents and cleaning products in Germany accounted for EUR 5,092 million (USD 6,024.60 million) in 2021, compared to EUR 5,246 million (USD 5,989.49 million) in the previous year.
- Furthermore, in the United States, the average annual expenditures for soaps and detergents amounted to roughly USD 80.5 per consumer unit in 2021, up from USD 75.5 in 2020. This growth is likely to make the soap and detergent business use more natural fatty acids.
- Rising incomes, increased urbanization, and increased awareness of the importance of hygiene have resulted in a robust increase in demand for household, cosmetic, and personal care products.
- Since more personal care and beauty products are being made, the use of natural fatty acids will also continue to grow over the next few years.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share. In the region, the demand for natural fatty acids is widely driven by their increasing application in industries such as cosmetics and personal care, detergents and soaps, oilfields, and lubricants.
- The region has been witnessing strong growth in the demand for personal care and cosmetic products, largely 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's employment, and increased 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.
- In 2021, the total production of plastic products in China will amount to 80 million metric tons, an increase of 5.27 percent from the previous year. China is the world's largest plastics producer, accounting for nearly one-third of global plastics production.
- Furthermore, India is also one of the major producers and consumers of plastic products. The total plastic exports from India to France during 2021-22 were around USD 225 million. Government initiatives like "Digital India," "Make in India," and "Skill India" will also boost India's plastics industry.
- 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 has also been increasing substantially.
- With this, people are likely to buy more plastic and rubber, which is likely to drive the market for natural fatty acids over the next few years.
Hence, all such trends in the region are projected to drive the growth of the natural fatty acid market in the coming years.
Natural Fatty Acids Industry Overview
The natural fatty acids market is consolidated, with key major players controlling a sizable portion of 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 (not in any particular order).
Natural Fatty Acids Market Leaders
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BASF SE
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Eastman Chemical Company
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LG Chemicals
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AkzoNobel N.V.
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Ashland
*Disclaimer: Major Players sorted in no particular order
Natural Fatty Acids Market News
- November 2022: Sinarmas Cepsa Pte Ltd (SCPL) and its parent companies, the chemicals business of CEPSA and agribusiness Golden Agri-Resources (GAR), signed a Memorandum of Understanding to expand the production of bio-based chemicals at SCPL's site in Lubuk Gaung, Indonesia.
- August 2022: Kraton Chemical LLC appointed the leading chemical distributor Redox Limited (Redox) as a channel partner for their Tall Oil Fatty Acid and Ink Polyamides range in Australia and New Zealand.
Natural Fatty Acids Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Demand for Glycerin to Manufacture Propylene Glycol and Epichlorohydrin
- 4.1.2 Government Regulations Promoting the Use of Eco-friendly Products
- 4.1.3 Broader Use of C18s in Oilfield and Drilling Applications
- 4.1.4 Increasing Demand from the Cosmetics and Personal Care Market
-
4.2 Restraints
- 4.2.1 Fluctuating Supply and Prices of Feed Stock Materials
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Feedstock Analysis
- 4.6 Production Process
- 4.7 Government Regulations and Policies
5. MARKET SEGMENTATION (Market Size in Value)
-
5.1 Type
- 5.1.1 Stearic Acid
- 5.1.2 Distilled Fatty Acid
- 5.1.3 C8 Caprylic Fatty Acid
- 5.1.4 Tall Oil Fatty Acid
- 5.1.5 Oleic Acid
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5.2 Application
- 5.2.1 Household, Cosmetics, and Personal Care
- 5.2.2 Soap and Detergent
- 5.2.3 Oilfield
- 5.2.4 Rubber and Plastic
- 5.2.5 Lubricants
- 5.2.6 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akzo Nobel NV
- 6.4.2 Ashland Inc.
- 6.4.3 BASF SE
- 6.4.4 Baerlocher GmbH
- 6.4.5 Behn-Meyer Holding AG
- 6.4.6 Chemithon Corporation
- 6.4.7 Chemol Company Inc.
- 6.4.8 Croda Industrial Chemicals
- 6.4.9 Eastman Chemical Company
- 6.4.10 Faci SpA
- 6.4.11 Kraton Performance Polymers, Inc.
- 6.4.12 LG Chemicals
- 6.4.13 Pacific Oleochemicals Sdn Bhd
- 6.4.14 SABIC
- 6.4.15 Yueyang Ch-Cheng Oleochemicals Co. Ltd
- 6.4.16 Zibo Fenbao Chemical Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Preference for Bio-based Raw Materials in Polymer Manufacturing
Natural Fatty Acids Industry Segmentation
Natural fatty acids are a broad and diverse family of substances that are present in both plants and animals. Natural fatty acids and their derivatives are used in various sectors, including plastic, rubber, detergents, cosmetics, and personal care products. The market is segmented by type, application, and geography. The type, or market, is segmented into stearic acid, distilled fatty acid, C8 caprylic fatty acid, tall oil fatty acid, and oleic acid. By application, the market is segmented into household, cosmetics and personal care, soap and detergent, oilfield, rubber and plastic, lubricants, and other applications. The report also covers the market size and forecasts for the concrete repair mortar market in 15 countries across major regions. Revenue (USD million) was used to size and forecast the market for each segment.
| Type | Stearic Acid | |
| Distilled Fatty Acid | ||
| C8 Caprylic Fatty Acid | ||
| Tall Oil Fatty Acid | ||
| Oleic Acid | ||
| Application | Household, Cosmetics, and Personal Care | |
| Soap and Detergent | ||
| Oilfield | ||
| Rubber and Plastic | ||
| Lubricants | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Natural Fatty Acids Market Research FAQs
What is the current Natural Fatty Acids Market size?
The Natural Fatty Acids Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Natural Fatty Acids Market?
BASF SE, Eastman Chemical Company, LG Chemicals, AkzoNobel N.V. and Ashland are the major companies operating in the Natural Fatty Acids Market.
Which is the fastest growing region in Natural Fatty Acids Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Natural Fatty Acids Market?
In 2024, the Asia-Pacific accounts for the largest market share in Natural Fatty Acids Market.
What years does this Natural Fatty Acids Market cover?
The report covers the Natural Fatty Acids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Natural Fatty Acids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Natural Fatty Acids Industry Report
Statistics for the 2024 Natural Fatty Acids market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Natural Fatty Acids analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
