- Opportunity and Forecast, 2016 - 2025
Fatty acid is a carboxylic acid with a long aliphatic chain, derived from phospholipids or triglycerides. They are either saturated or unsaturated and essential for humans for regular metabolism. It is used to lower level of depression, and reduce symptoms of ADHD. Moreover, it is used in rheumatoid arthritis cases for curbing stiffness and joint pain. They also provide protection against Alzheimer's disease and dementia, and expected to be effective on gradual memory loss related to aging. Besides health benefits, it is also used in textile industry as emulsifying softener, wetting agent, scouring agent, and dispersant.
Growth of personal care industry, growing demand for functional food & dietary supplements comprising omega 3 fatty acids, and food packaging applications catalyze the global fatty acids industry. Other applications include paints & coatings, lubricants & greases, rubber manufacturing, metal working, mining, and leather. Geographically, the market is segmented based on North America, Latin America, Europe, Asia-Pacific, and Middle East& Africa.
Key companies operating in the market include Akzo Nobel, Arizona Chemicals, BASF SE, Croda, Eastman Chemical, Ashland Inc., and Oleon. Other prominent vendors are Wujiang Jinyu Lanolin Co. Ltd., Godrej Industries, Vantage Oleochemicals, Colgate-Palmolive Ltd, and Ferro Corporation. They have adopted various strategies such as expansion, merger & acquisition, partnerships, collaborations, and joint ventures to gain competitive edge in the industry.
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