December 01, 2017
WELLESLEY, Mass., Dec. 01, 2017 – Price and performance will remain as key drivers for producers in the oleochemical fatty acids markets, but growing consumer demand for more environmentally friendly and natural ingredients should boost the industry. In a new report, Oleochemical Fatty Acids: Global Markets to 2022, BCC Research estimates the global market for natural fatty acids sourced from vegetable oils, animal fats and crude tall oil (CTO) to reach more than $16.8 billion by 2022, reflecting a compound annual growth rate (CAGR) of 5.6% from 2017 through 2022.
This comprehensive update of BCC Research’s 2013 report examines the main markets for the major acid types from stearic acid, distilled fatty acids, polyunsaturated (including tall oil fatty acid: TOFA), fractionated fatty acids and monounsaturated oleic acid. The analysis also reviews the latest technology developments (including those in the patent space), provides a regional perspective, examines the changing landscape of raw material and reviews the byproduct glycerin market.
Although natural-based fatty acid has been a workhorse of the chemical industry for many years, it has a bright future, fueled by the green chemistry agenda. Most innovation in oleochemicals outside of biorefining is being driven by the end-user application companies such as Croda, Evonik, BASF, Dow Chemicals or Fuchs Lubricants rather than the merchant oleochemical producers themselves.
“The average price of fatty acids fell sharply between 2008 and 2009 due to the recession, but has been rising slowly on the market recovery. By 2016, the average price stood at just under $1,290 per metric ton, or about 9% higher than the prerecession average price of $1,184 (i.e., an average increase of 1.1% per year since 2008). Due to significant overcapacity in the industry, overall prices are not expected to increase much between 2016 and 2022. Projections assume that overall price levels will continue to rise at a CAGR of 1% through 2022, or slightly lower than the average rate of increase between 2008 and 2016,” said Andrew McWilliams, BCC Research analyst and author of the report.
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Oleochemical Fatty Acids: Global Markets to 2022. (CHM062D)
Publish Date: Nov 2017
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Oleochemical Fatty Acids: Global Markets to 2022( CHM062D )
Publish Date: Nov 2017
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.