글로벌 합성 지방산 시장 – 2024-2031년

Overview
Global Synthetic Fatty Acid Market reached US$ 25.3 billion in 2023 and is expected to reach US$ 40.9 billion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.
Synthetic fatty acids are essential in the textile and leather industries, where they are utilised in operations such as dyeing, finishing and softening fabrics and leather products. The growing emphasis on sustainability and environmental concerns has prompted further research and development of bio-based synthesised fatty acids as alternatives to traditional sources.
Demand for synthetic fatty acid-containing goods is driven by changing customer lifestyles, preferences and a greater emphasis on personal well-being. Companies are developing environmentally friendly solutions to fulfil market demands. For example, in 2021, BASF SE became one of the first companies accredited to the REDcert criteria for its biochemical goods.
In 2022, North America is expected to hold the second-dominant region in the global synthetic fatty acid market covering over 20% of the market. Factors such as well-developed end-use industries and expanding oil and gas exploration in U.S. will drive market expansion over the forecast period. Furthermore, the presence of significant important players like Kraton Corporation, Univar Solutions, Georgia-Pacific Chemicals LLC and Eastman Chemical Company creates profitable potential for the market in the region.
Dynamics
Rising Usage of Omega-3
Omega 3 fats is found in foods such as flaxseed and fish, as well as nutritional supplements like fish oil. Omega-3's increasing penetration in active pharmaceutical ingredients will help it increase during the projection period. According to the National Health and Nutrition Examination Survey, most children and adults in U.S. consume the required levels of omega-3s as ALA.
Omega-3 fatty acids lessen the risk of cardiovascular illness, sudden cardiac death due to an irregular heart rhythm and blood clots. It is lipids commonly present in vegetable oils such as corn, safflower and soybean oil, among others. In August 2019, Cargill got approval from U.S. Department of Agriculture for the development of omega-3 Canoal in U.S.
Rising Demand of Hygiene Products
Fatty acid are a kind of anionic surfactants in the home care cleaning sector. It is used in various household cleaning products, including soaps, detergents, bleaches and cleansers. Lauric, myristic, palmitic, stearic, ricinoleic, oleic, linoleic and linolenic acids are among the fatty acids utilised in soap and detergent formulations. Approximately 70-85% of natural herbal soap bars consist of sodium salts of fatty acids produced from triglycerides or hydrolyzed fatty acids.
The fatty acids contribute significantly to the performance of natural soap and lower the cost of finished products. As per the International Association for Soaps, Detergents and Maintenance Products, the overall market value of the home care and professional cleaning & hygiene sector in Europe is expected to be US$ 47.1 billion by 2020. It also expected that in 2020, European consumers spend an anticipated US$ 37 billion on household care items.
Volatility in Raw Materials Price
The prices of raw materials required in the production of fatty acids like tall oil, soya, coconut and palm kernel, have risen, causing fluctuations in the pricing. According to Tejimandi, an advice firm, natural fats and oils are broken hydrolytically or lipolytically to form fatty acids. The majority of agricultural oils are on an inflationary trend. Palm oil and palm fatty acid distillate prices have continued to grow. It is now rising 43-55% YoY.
Copra and coconut oil increased by 2% to 5% month on month, while groundnut oil increased by 3%. Based on LMC International, raw materials account for 80% of the overall production cost. As a result, the cost of raw materials is always rising or falling due to variables such as transportation and logistics, rising demand and so on, all of which have an impact on fatty acid prices. Thus, the volatility and increase in costs of raw materials such as oils and fats are likely to create a substantial challenge for the makers of fatty acids over the forecast period.
Segment Analysis
The global synthetic fatty acid market is segmented based type, application and region.
Rising Focus on Hygiene Drives the Segment Growth
Household and personal care is expected to drive the market demand with a share of about 1/3rd of the global synthetic fatty acid market in 2022. Synthetic fatty acids are important ingredients in the manufacturing of surfactants and detergents used in household cleaning products. The rising awareness of the need of hygiene resulted in a significant increase in demand for household and industrial products. The demand for effective cleaning solutions in homes promotes the demand for synthetic fatty acids.
Furthermore, fatty acids and oils are used in industrial floor cleansers and polishes due to their wetting, emulsifying and cleaning qualities, which serve as a driving factor in market growth. As per an Entrepreneur India article, India's soap industry is made up of roughly 700 companies and earns approximately US$ 17 billion in revenue each year. It will drive the demand for synthetic fatty acids.
Geographical Penetration
Rising Adoption of Cleaning Products in Asia-Pacific
During the forecast period, Asia-Pacific is expected to be the dominant region in global synthetic fatty acid market with over 1/3rd of the market. The presence of developing countries like China, India and others is boosting regional growth. One of the primary reasons driving fatty acid market growth in Asia-Pacific is the presence of a huge population, as well as the increasing use of cleaning goods such as soaps and detergents.
According to an article published by IndianMirror, soap manufacture is one of the most important activities in the Indian FMCG business, accounting for more than half of the consumer goods sector. It further mentions that around 50% of soap manufactured in India is marketed in the rural market. Furthermore, the developing personal care and cosmetics sector in Asia-Pacific is increasing the use of fatty acids over the expected period.
Competitive Landscape
The major global players in the market include Bakrie Group, Desmnet Blsta India Private limited, Ecogreen, Emery Oleochemicals, IOI, Kao Corporation, Oleon, Pacific Olechemicals, Permata Hijau Group and Wilmar.
COVID-19 Impact Analysis
The pandemic disrupted globally supply chains, hurting raw material availability as well as synthetic fatty acid synthesis. Transportation and logistics restrictions hampered material sourcing and distribution. Various end-user sectors like cosmetics, detergents and pharmaceuticals, were disrupted. Reduced consumer spending, industrial halts and shifts in priorities hampered the demand for items that use synthetic fatty acids.
To keep up with health and safety rules, many manufacturing facilities had to close temporarily or change production schedules. It has an impact on the total production capacity and output of synthetic fatty acids. During the epidemic, there was a greater emphasis on important businesses like healthcare and hygiene. The shift in focus altered the market for specific synthetic fatty acid compounds used in medicines and disinfectants.
Russia-Ukraine War Impact
Russia-Ukraine conflict hampered the supply of raw materials required for synthetic fatty acid manufacturing. For example, disruptions in the availability of petrochemicals or feedstocks have an impact on production. Geopolitical tensions caused interruptions in global supply systems. Synthetic fatty acid makers frequently rely on intricate supply chains for raw materials and distribution. The disturbance in logistics impacted the availability of synthetic fatty acids.
Geopolitical events caused fluctuations in energy prices, affecting the costs of producing synthetic fatty acids. Energy price increases owing to geopolitical tensions had an impact on manufacturers' total cost structure. Governments may impose trade sanctions or regulations in response to geopolitical developments. Such regulations have an impact on the international commerce in synthesized fatty acids.
By Type
• Unsaturated Fatty Acid
• Saturated Fatty Acid
By Application
• Household and Personal Care
• Chemical
• Textile and Leather
• Energy
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• In 2022, Epax (Alesund, Norway) is launching a new Epax NovusLipid product range, the first product of which is Cetoleic 10. Rich in long-chain monounsaturated fatty acids, it contains cetoleic acid, an omega-11 marine lipid and gondoic acid.
• In May 2019, The KAO group completed the construction of new factory of PT Apical Kao Chemicals, a joint venture company of Kao Corporation and Apical Group Limited. The new factory is involved in the production of fatty acids in Sumatra, Indonesia. The Kao Group increased its production capacity, of oleochemical products.
Why Purchase the Report?
• To visualize the global synthetic fatty acid market segmentation based on type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of synthetic fatty acid market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global synthetic fatty acid market report would provide approximately 49 tables, 39 figures and 181 pages.
Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies