Market Size of Natural Fatty Acids Industry
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 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 | |||||||
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Natural Fatty Acids Market Size Summary
The natural fatty acids market is poised for significant growth, driven by increasing demand in various sectors such as cosmetics, personal care, and industrial applications. The market is expected to experience a robust expansion over the forecast period, with a notable compound annual growth rate. The post-pandemic recovery has seen a surge in demand for cosmetics and personal care products, which has been a key factor in the market's resurgence. The growing preference for eco-friendly and bio-based products, supported by government regulations, is further propelling the market. However, challenges such as fluctuating supply and prices of feedstock materials continue to pose obstacles to market growth. The Asia-Pacific region leads the global market, fueled by its burgeoning cosmetics and personal care industry, as well as its significant production of soaps, detergents, and plastics.
The Asia-Pacific region's dominance in the natural fatty acids market is attributed to its expanding industrial applications and increasing consumer demand for personal care and cosmetic products. The region's strong economic growth, urbanization, and rising awareness of hygiene have contributed to the heightened demand for these products. Additionally, the region's status as a major producer of plastics and rubber, coupled with government initiatives, is expected to further drive market growth. Key players in the market, such as BASF SE, Eastman Chemical Company, and LG Chemicals, hold substantial market shares, and recent strategic partnerships and expansions indicate a focus on enhancing bio-based chemical production. These trends suggest a promising outlook for the natural fatty acids market in the coming years.
Natural Fatty Acids Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Glycerin to Manufacture Propylene Glycol and Epichlorohydrin
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1.1.2 Government Regulations Promoting the Use of Eco-friendly Products
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1.1.3 Broader Use of C18s in Oilfield and Drilling Applications
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1.1.4 Increasing Demand from the Cosmetics and Personal Care Market
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1.2 Restraints
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1.2.1 Fluctuating Supply and Prices of Feed Stock Materials
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Feedstock Analysis
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1.6 Production Process
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1.7 Government Regulations and Policies
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Stearic Acid
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2.1.2 Distilled Fatty Acid
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2.1.3 C8 Caprylic Fatty Acid
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2.1.4 Tall Oil Fatty Acid
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2.1.5 Oleic Acid
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2.2 Application
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2.2.1 Household, Cosmetics, and Personal Care
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2.2.2 Soap and Detergent
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2.2.3 Oilfield
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2.2.4 Rubber and Plastic
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2.2.5 Lubricants
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2.2.6 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Natural Fatty Acids Market Size 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.