New York, NY, July 30, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fatty Acid Methyl Ester (FAME) Market by Type (Soya Methyl Ester, Rapeseed Methyl Ester, and Palm Oil Methyl Ester) and by Application (Fuels, Lubricants, Coatings, Food & Agriculture, and Metal Working Fluids): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global fatty acid methyl ester (FAME) market was approximately USD 19.07 billion in 2018 and is expected to generate around USD 28.38 billion by 2026, at a CAGR of around 5.10% between 2019 and 2026.
The fatty acid methyl ester (FAME) is likely to grow notably in future, due to FAME’s low toxin emissions and biodegradable nature. The fatty acid methyl ester (FAME) market is also driven by the growing demand for biodiesel due to its environment-friendly nature. FAME usage is increasing rapidly due to its recyclable property and government concessions on tax, which will further the fatty acid methyl ester (FAME) market growth in the future. However, insufficient availability of feedstock may limit the fatty acid methyl ester (FAME) market. Additionally, the problem of overstocking of raw materials in developing nations leads to wastage of resources. There have been rapid technological advancements to harness more power and diverse utilization of FAME. Biodiesel is a popular substitute for the manufacturing of polymers. These favorable properties are expected to also boost the fatty acid methyl ester (FAME) market globally in the future.
Browse through 13 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Fatty Acid Methyl Ester (FAME) Market: By Type, Size, Industry Share, Trends, Applications, Analysis and Forecast, 2018–2026”.
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On the basis of type, the fatty acid methyl ester (FAME) market is divided into soya methyl ester, palm oil methyl ester, and rapeseed methyl ester. Soya methyl ester is expected to hold the maximum market share, in terms of both revenue and volume, over the projected timeframe. Soya methyl ester is increasingly used as a green solvent, as it contains low VOC apart from being biodegradable. The increasing demand for soya methyl ester is expected to further this segment’s growth in the future.
Based on application, the global market for fatty acid methyl ester (FAME) is divided into fuels, coatings, metal working fluids, food and agriculture, and lubricants. Fuels are expected to contribute the largest share, in terms of both revenue and volume, in t6he years ahead. Fuel is mostly used in vehicles, farm equipment, stationary power generators, and machines like construction and mining equipment.
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North America is estimated to hold the maximum share of the fatty acid methyl ester (FAME) market globally, in terms of both revenue and volume, over the projected time period. This regional growth can be attributed to the region’s recyclability demand and rising environmental awareness, which has increased the use of biodiesel.
The European fatty acid methyl ester (FAME) market has grown notably in recent years, due to increasing fuel applications across the region. FAME is highly popular in the regional market due to its low toxin emissions and biodegradable nature. These properties will positively influence the demand for FAME in Europe, as there are many prominent automobile manufacturers based across the region.
Browse the full “Fatty Acid Methyl Ester (FAME) Market by Type (Soya Methyl Ester, Rapeseed Methyl Ester, and Palm Oil Methyl Ester) and by Application (Fuels, Lubricants, Coatings, Food & Agriculture, and Metal Working Fluids): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/fatty-acid-methyl-ester-market
The Asia Pacific region will hold a major share in the global fatty acid methyl ester (FAME) market over the forthcoming years, owing to the growing demand for soya methyl ester by the automobile industry. India and China are expected to be major countries that will significantly contribute to the fatty acid methyl ester (FAME) market growth in the Asia Pacific region.
The Middle Eastern and African fatty acid methyl ester (FAME) market is expected to witness moderate rate of growth over the projected time period. This can be attributed to the increasing demand for FAME from the Middle Eastern automotive sector. Biodiesel is likely to witness high demand in the generators used in various construction activities.
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Some key players operating in the global fatty acid methyl ester (FAME) market are Novaol, Biopetrol Industries, Biofuels Corporation, Diester Industries, ADM Biodiesel, Evonik Industries, Cargill, Green Fuels, Western Lowa Energy, and P&G Chemicals.
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This report segments the global fatty acid methyl ester (FAME) market into:
Global Fatty Acid Methyl Ester (FAME) Market: By Type
- Soya Methyl Ester
- Rapeseed Methyl Ester
- Palm Oil Methyl Ester
Global Fatty Acid Methyl Ester (FAME) Market: By Application
- Fuels
- Lubricants
- Coatings
- Food and Agriculture
- Metal Working Fluids
Global Fatty Acid Methyl Ester (FAME) Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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