Global Fatty Acid Methyl Esters (FAME) Market to Reach $21.1 Billion by 2026

SAN FRANCISCO , March 11, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Fatty Acid Methyl Esters (FAME) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 7; Released: February 2022
Executive Engagements: 3613
Companies: 31 - Players covered include Alnor Oil Company; Archer Daniels Midland Company; BASF SE; Berg + Schmidt GmbH & Co. KG; Cargill, Inc.; Emery Oleochemicals Group; KLK Oleo; Longyan Zhuoyue New Energy Co. Ltd.; P&G Chemicals; Wilmar International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Fuels, Metalworking Fluids, Lubricants, Food & Agriculture, Coatings, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Fatty Acid Methyl Ester (FAME) Market to Reach $21.1 Billion by 2026
FAME or fatty acid methyl ester (FAME) is a fatty acid ester type that is derived by transesterifying fats with methanol. The biodiesel's molecules primarily are FAME, which are obtained usually from vegetable oils through transesterification. FAME is used in the production of biodiesel and detergents and is produced typically by a reaction that is alkali-catalyzed between methanol and fats when base substances like sodium methoxide, potassium hydroxide, or sodium hydroxide are present. FAME-based biofuel is the most commonly available biodiesel type in the marine industry and is frequently used for blending with standard marine diesel. The use of FAME as a thickening and emulsifying agent in the food industry is expected to boost market prospects. The growing popularity of stain resistant coatings also bodes well for overall growth of FAME in this end-use sector as FAME is widely used as a solvent in coatings. Green chemistry plays an important role in the paints and coatings industry that serves a large base of both industrial and consumer end segments such as automotive, construction, electronics, aviation, marine, consumer products, and residential and commercial buildings. The concept of green chemistry largely focuses on reducing the use of volatile organic compounds (VOCs), enable process efficiency enhancements, waste minimization, use of renewable feedstock and more. The discussed scenario in the coatings industry brings cheer for FAME manufacturers as it is a green solvent containing low VOC along with being readily biodegradable.

Amid the COVID-19 crisis, the global market for Fatty Acid Methyl Ester (FAME) estimated at US$17.7 Billion in the year 2022, is projected to reach a revised size of US$21.1 Billion by 2026, growing at a CAGR of 4.1% over the analysis period. Fuels, one of the segments analyzed in the report, is projected to grow at a 5.3% CAGR to reach US$9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metalworking Fluids segment is readjusted to a revised 2.6% CAGR for the next 7-year period. This segment currently accounts for a 17.7% share of the global Fatty Acid Methyl Ester (FAME) market. Engineering materials that optimize the process of metalworking are called metalworking fluids. The move toward environmentally acceptable metalworking fluid formulations is expected to drives prospects for fatty acid methyl esters.

The U.S. Market is Estimated at $5.2 Billion in 2022, While China is Forecast to Reach $2.8 Billion by 2026
The Fatty Acid Methyl Ester (FAME) market in the U.S. is estimated at US$5.2 Billion in the year 2022. The country currently accounts for a 29.32% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.8 Billion in the year 2026 trailing a CAGR of 5.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$3 Billion by the end of the analysis period.

By Application, Lubricants Segment to Reach $3.4 Billion by 2026
Biolubricants are emerging into the spotlight a readily biodegradable, non-toxic product that breaks down by a minimum amount of 60% within a period of 28 days. Concerns for the environment, sustainability, and safety in their totality, drive the growth of the global bio-lubricants industry. The scenario is opening up new windows of opportunities in researching the potential of FAME in biolubricants production. Several studies have already validated the effective lubricity of methyl-branched fatty acid methyl esters in providing excellent protection on metal surfaces against friction. In the global Lubricants segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2 Billion will reach a projected size of US$2.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$219.4 Million by the year 2026, while Latin America will expand at a 5% CAGR through the analysis period. More

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