Distilled Fatty Acids Segmentation
The global distilled fatty acids market is segmented and analyzed for demand and supply by source into palm, coconut, rapeseed, soybean, and others. Out of which, the palm segment is anticipated to hold the largest market revenue by the end of 2036. The growth of this segment can be attributed to rising demand for palm as the primary raw material for industrial applications given to its availability in abundance. For instance, in Malaysia, oil palm was planted on about 4 million hectares of land in 2021. After Indonesia, Malaysia is the second-largest producer of palm oil in the world. Also, palm oil is chosen over other vegetable oils including soybean, canola, and sunflower since it produces oleochemicals with the largest percentage yield and is similarly effective in this regard. However, soybean segment is anticipated to grow at a highest CAGR of 7.5% over the forecast period.
The global distilled fatty acids market is also segmented and analyzed for demand and supply by application into cosmetics, plastics & polymers, lubricants, paints & coatings, soaps & detergents, and others. Amongst these segments, the soaps & detergents segment is anticipated to generate the largest revenue by the end of 2037. However, the cosmetics segment is estimated to grow at a highest CAGR of 7.8% over the forecast period, backed by growing people’s concern for skin health. Additionally, a surge in incidence of skin cancer and other skin illnesses, as well as increased knowledge of the damaging effects of UV radiation on skin is also estimated to boost the segment growth. Further, the majority of cosmetic industries are using natural ingredients obtained from plants in the production of their cosmetics products. Hence, it is predicted that this would encourage the use of distilled fatty acids derived from vegetable oils in cosmetics.
Our in-depth analysis of the global distilled fatty acids market includes the following segments:
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