Fatty Methyl Ester Sulfonate Market Trends by 2029
The global fatty methyl ester sulfonate market size is set to enter a period of dynamic expansion owing to the exponential growth in urban areas around the globe, states Fortune Business Insights™ in its report, Recent estimates released by the UN Department of Economic and Social Affairs (UN DESA) show that approximately 55% of the global population lives in urban areas. According to the UN DESA predictions, by 2050, nearly 70% of the world’s population will be housed across urban agglomerates worldwide, with Asia and Africa accounting for almost 90% of this increase. This augurs well for this market because fatty methyl ester sulfonate is majorly used in laundry detergents and personal care products. These items are easily accessible and affordable to urban populations and their growing demand in emerging economies will further propel the market in the coming years.
List of Key Players Profiled in the Fatty Methyl Ester Sulfonate Market Report:
- Huish Detergent Inc.
- P&G Chemicals
- Henan Surface Chemical Industry Co., Ltd
- Lion Corporation
- KLK Oleo
- Stepan Company
- Emery Oleochemicals
- Zanyu Technology Group Co.
- Jinchang Chemical
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Increasing Preference for Biodiesel to Create Numerous Opportunities
A novel driver shaping the fatty methyl ester sulfonate market growth is the increasing inclination of consumers and manufacturers towards biodiesel. Extracted from natural sources such as vegetable oils and waste animal fat, different fatty acid methyl esters are combined to produce biodiesel. Their most distinguishing feature is that they have properties similar to those of conventional diesel, but they are biodegradable and non-toxic. With air pollution reaching startling levels around the globe, the need for biodiesel blends is at an all-time high. According to the US Department of Energy’s Argonne National Laboratory, biodiesel consumption reduces carbon dioxide emissions by 74% compared to conventional diesel. In Europe, carmakers are actively testing the effects of biodiesel on vehicular performance. Thus, as the adoption of biodiesel steadily grows, the market for fatty methyl ester sulfonate is expected to gain significant traction in the foreseeable future.
Rising Disposable Incomes in Asia Pacific to Accelerate Regional Market Growth
Among regions, Asia Pacific is anticipated to lead the fatty methyl ester sulfonate market share in the forthcoming years as expanding incomes of consumers in the region is fueling the demand for personal care products in the region. In addition, promising growth in the production of niche raw materials such as agro-chemicals and natural-derived ingredients for home and personal care products will also provide impetus to the regional market growth.
In North America, the primary market driver will be the proliferation of detergent manufacturers in the US and Canada over the past several years. On the other hand, the market in Europe will be supported by the growing preference for biodegradable personal care items as well as increasing research into the potential of fatty methyl esters in the production of biodiesel.
Highlights of the Report:
- Careful segmentation of the market and in-depth analysis of all segments;
- Thorough assessment of the forces driving and restraining the market;
- Comprehensive profiling and study of all key market players and their strategies; and
- Tangible insights into the regional dynamics impacting the market.
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Operational Expansion to be Key Growth Strategy for Market Players
With a view to penetrate the rapidly expanding economies of Asia, Africa, and Latin America, key players in this market are strategically expanding their operations in these regions. Their primary focus is on introducing products and solutions that cater to the local requirements in these regions.
- September 2020: Stepan Company entered into an agreement with Clariant (Mexico) to take over Clariant’s anionic surfactant business as well as sulfation equipment at its plant in Santa Clara, Mexico. The acquisition will enable Stepan to meet the growing demand for surfactants in Mexico.
- September 2020: Emery Oleochemicals launched its general purpose product suite of fatty acid esters called EMERY® E. Designed as sustainable alternatives to fossil fuel-based raw materials, the products within the suite feature a high biodegradability quotient, low odor, and good color stability.
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