According to a report,” Palm Methyl Ester Derivative Market By Product (Methyl Caprylate, Methyl Laurate, Methyl Myristate, Methyl Palmitate, Methyl Stearate, Methyl Oleate, Methyl Linoleate), By Source, And Segment Forecasts, 2018 – 2025 “published by Grand View Research, Inc., The global palm methyl ester derivatives market is anticipated to reach USD 1.01 billion by 2025.Growing demand for CPO and PKO derived products from a wide range of sectors including personal care, home care, and food along with other industrial products such as adhesives, lubricants, paints, coatings, and inks is expected to influence product demand over the forecast period.
Palm methyl ester derivatives are essentially oleochemicals processed from CPO and PKO, leading to greater global demand driven by sustainability along with environmental and health concerns. Rising consumer preference for natural ingredients and process sustainability in personal care, food, and other sectors is also anticipated to boost product demand.
Key Takeaways from the report:
The collective demand for palm methyl ester derivatives globally was 204 kilo tons in 2016 and is expected to grow at a CAGR of around 5.3% from 2017 to 2025 to exceed a total volume of over 320 kilo tons by 2025
Crude palm oil (CPO) was the largest source for these derivatives while accounting for over 60% of the total revenue in 2015
Personal care & cosmetics was the largest application segment for methyl laurate with a demand of over USD 32 million in 2016
Asia Pacific is expected to be the largest regional market with a projected demand of around USD 575 million by 2025
The industry is dominated by a few multinational corporations such as Peter Cremer North America, Carotino Group, KLK OLEO, Ecogreen Oleochemicals, and Kao Corporation with significant presence across the value chain
Companies such as P&G Chemicals, VVF, and KLK Oleo are integrated throughout the value chain from manufacturing of raw materials for downstream chemicals to finished products such as detergents, soaps, and personal care products.
U.S. palm methyl ester derivative market volume by product, 2014 – 2025 (Tons)
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Global palm methyl ester derivatives market revenue by application, 2016 (%)
In the past few years, the industry has witnessed increasing investments in R&D activities for the development of biodegradable products, which can substitute the petroleum-based ones. This, in turn, has led to increased dependence on these specialty chemicals. Some of the major application sectors of the products include homecare, personal care, and cosmetic products.
Methyl oleate held the largest share in the market and is expected to continue its dominance over the forecast period. The increasing use of the product as solvents in industrial cleaners, as surfactants in personal care products, as solvents & defamers in the production of inks and coatings and as a lubricant for metal cleaning & precision metal cleaning are expected to be the major factors driving oleate demand over the forecast period.
Grand View Research has segmented the global palm methyl ester derivative market on the basis of source, product, application and region:
Palm Methyl Ester Derivatives Source Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
Crude Palm Oil (CPO)
Palm Kernel Oil (PKO)
Palm Methyl Ester Derivatives Product Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
Methyl Caprylate
By Application
Fatty Alcohols
Solvent/Co-solvent
Agriculture
Personal care & cosmetics
Lubricant & addition
Foods
Others
Methyl Laurate
Chemical Synthesis
Paints & inks
Methyl Myristate
Fatty Alcohols/ Fatty methyl ester sulfonates (FMES)
Detergent
Lubricant
Personal care & Cosmetics
Methyl Palmitate
Lubricant & additives
Food & Beverage
Methyl Stearate
Soaps & Detergent
Food
Methyl Oleate
Methyl Linoleate
Palm Methyl Ester Derivatives Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
North America
U.S.
Europe
Germany
UK
France
Asia Pacific
China
India
South Asia Countries
Central & South America
Brazil
Colombia
Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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