Natural Fatty Acid Industry to Reach $25.7 billion in 2019; Usage of Biodegradable Raw Materials on the Rise
BCC Research reveals in its new report on natural fatty acids, the industry has been a workhorse in the chemical industry for a number of years, but it is a shining star today, fueled by the green chemistry agenda. The reason is that the raw material consumed to produce the oleochemicals is mainly based on material that is renewable, sustainable and readily biodegradable.
The global market for natural fatty acids sourced from vegetable oils, animal fats and sulfate Kraft crude tall oil was worth about $17.1 billion in 2013. This is projected to reach more than $25.7 billion in 2019, growing at a compound annual growth rate (CAGR) of 7.1% over the five-year period from 2014 through 2019.