FAME is a crucial component in biodiesel production. The
growing demand for cleaner alternatives to fossil fuels in
transportation and other sectors is boosting the market.
WILMINGTON, Del., July 15,
2024 /PRNewswire/ -- The fatty acid methyl
ester (FAME) market was projected to attain US$ 17.6 million in 2023. It is likely to
garner a 5.7% CAGR from 2024 to 2034, and by 2034, the
market is expected to attain US$ 32.4
billion.
FAME is increasingly being used in traditional petrochemical
applications, including as solvents and intermediates in various
chemical processes. Exploring non-food feedstocks, such as algae
and jatropha, can reduce the reliance on traditional agricultural
feedstocks and mitigate the food vs. fuel debate.
Increasing consumer awareness and preference for green and
sustainable products create new markets for FAME-based products,
including lubricants, surfactants, and detergents.
Request a PDF Sample of this Report Now!
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1022
Continued investment in research and development can lead to
breakthroughs in production processes, making FAME more competitive
with traditional petrochemical products. Government policies
promoting the cultivation of oilseed crops can significantly
influence the FAME market by ensuring a steady supply of raw
materials.
The need for energy security and reducing dependence on imported
fossil fuels is motivating many countries to invest in biofuels,
including FAME. Advances in catalyst technologies can enhance the
efficiency of the transesterification process, reducing production
costs and increasing the yield of FAME.
Many countries have implemented mandates requiring the blending
of biodiesel with conventional diesel, directly boosting the demand
for FAME. Participation in carbon trading schemes can provide
financial incentives for the production and use of biodiesel,
indirectly benefiting the FAME market.
The trend towards utilizing waste materials for biofuel
production supports the use of waste oils and fats as feedstocks
for FAME. There is a growing trend towards
decentralized production units that can cater to local
demand and reduce transportation costs.
Fatty Acid Methyl Ester (FAME) Market Report
Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 17.6 Bn
|
Forecast (Value) in
2034
|
US$ 32.4 Bn
|
Growth Rate
(CAGR)
|
5.7 %
|
No. of
Pages
|
241
Pages
|
Segments
covered
|
By Product Type, By
Source, By Region, By End-use
|
Key Findings of the Market Report
- Investment in algae cultivation technologies can provide a
high-yield, sustainable source of raw material for FAME
production.
- Encouraging local production of FAME can reduce transportation
costs and provide local employment opportunities, making FAME more
competitive.
- As electric vehicle technology advances, FAME can be used in
hybrid models or as a transitional fuel in regions where electric
vehicle infrastructure is not yet fully developed.
- Exploring and expanding the use of FAME in non-fuel
applications such as cosmetics, food additives, and pharmaceuticals
can diversify market opportunities.
Market Trends for Fatty Acid Methyl Ester (FAME)
- By product type, the unsaturated FAME segment among these is
expected to boost the growth of the fatty acid methyl ester
market?
- Unsaturated FAMEs, such as those derived from oleic acid,
have double bonds that make them more reactive and versatile for
various chemical processes.
- They provide better lubricity compared to saturated FAMEs,
making them ideal for applications in biodiesel where engine
lubrication is crucial.
- Unsaturated FAMEs have better cold flow properties,
improving the performance of biodiesel in colder climates and
enhancing fuel efficiency.
- In terms of source, the vegetable oil-based FAME segment among
these is anticipated to accelerate the market growth.
Global Market for Fatty Acid Methyl Ester (FAME): Regional
Outlook
North America
- The U.S. Environmental Protection Agency mandates the
blending of renewable fuels, including biodiesel, with conventional
fuels. This policy drives demand for FAME as a key component of
biodiesel.
- Increasing awareness and concern about climate change have led
to a greater focus on renewable and sustainable energy sources,
including FAME-based biodiesel, to reduce carbon
footprints.
Asia Pacific
- Advances in production technologies, such as more
efficient transesterification processes and better catalysts,
are reducing costs and increasing the yield of FAME.
- Investment in biodiesel production facilities and
distribution infrastructure supports the growth of the FAME
market.
Unlock Growth Potential in Your Industry! Download PDF
Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1022
Fatty Acid Methyl Ester (FAME) Market: Key Players
The fatty acid methyl ester (FAME) market is highly competitive
and characterized by the presence of several key players, regional
companies, and new entrants. The competition is driven by factors
such as production capacity, product quality, technological
innovation, cost efficiency, and strategic partnerships. The
following companies are well known participants in the fatty acid
methyl ester (FAME) market:
- BASF SE
- Alnor Oil Company
- ADM
- Cargill, Incorporated
- Berg + Schmidt GmbH & Co. KG
- Emery Oleochemicals
- Wilmar International Ltd.
- Procter & Gamble
- KLK OLEO
- Eastman Chemical Company
- Ag Processing Inc.
Key Developments
- In 2023, Cargill, Incorporated unveiled its plans to
acquire Granol's soybean-crushing and biodiesel production
facilities located in Anápolis, Goiás; Porto Nacional, Tocantins;
and Cachoeira do Sul, Rio Grande do Sul.
- In 2022, Emery Oleochemicals, a leading manufacturer of
natural-based specialty chemicals, launched its EMERY® E product
line, which includes general-purpose fatty acid esters.
Fatty Acid Methyl Ester (FAME) Market
Segmentation
Product Type
- Saturated
- Unsaturated
- Others
Source
- Vegetable Oil-based
- Animal Fat-based
- Waste Oil-based
- Algae Oil-based
- Others
End Use
- Fuels
- Lubricants
- Metal Working Fluids
- Personal Care & Cosmetics
- Surfactants & Detergents
- Pharmaceuticals
- Paints & Coatings
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Buy this insightful premium research report today:
https://www.transparencymarketresearch.com/checkout.php?rep_id=1022<ype=S
More Trending Reports by Transparency Market Research
–
- Hydroprocessed Esters and Fatty Acids (HEFA)
Market - The global hydroprocessed esters and fatty
acids (HEFA) market is projected to advance at a CAGR of
16.0% from 2024 to 2034
- Bio-based Succinic Acid Market - The
global bio-based succinic acid market is projected to expand at a
CAGR of 17.8% during the forecast period from 2024 to
2034
- Nematicide Market: The nematicide market is poised for
significant growth over the forecast period, with the global
industry valued at US$ 1.3 billion in
2023. It is projected to expand at a compound annual growth rate
(CAGR) of 3.5% from 2024 to 2034, potentially reaching US$ 1.9 billion by the conclusion of 2034.
About Transparency Market Research
Transparency Market Research, a global market research
company registered at Wilmington, Delaware, United States, provides custom research and
consulting services. Our exclusive blend of quantitative
forecasting and trends analysis provides forward-looking insights
for thousands of decision makers. Our experienced team of Analysts,
Researchers, and Consultants use proprietary data sources and
various tools & techniques to gather and analyses
information.
Our data repository is continuously updated and revised by a
team of research experts, so that it always reflects the latest
trends and information. With a broad research and analysis
capability, Transparency Market Research employs rigorous primary
and secondary research techniques in developing distinctive data
sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE
HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware
19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free:
866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter|
Blog | YouTube
Logo:
https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/fatty-acid-methyl-ester-fame-market-size-to-hit-usd-32-4-billion-by-2034--at-a-5-7-cagr--analysis-by-transparency-market-research-inc-302196996.html
SOURCE Transparency Market Research