Palm Methyl Ester Derivatives Market 2024 - Future Trends, Business Strategies, Revenue Value And Forecast By 2033
Overview and Scope Palm methyl ester derivatives refer to a type of oleochemical derived from crude palm oil. Oleochemicals come from organic materials like plant and animal lipids. Palm methyl ester derivatives are primarily used in chemical compounds. Sizing and Forecast The palm methyl ester derivatives market size has grown strongly in recent years. It will grow from $3.66 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rise in biodiesel production, environmental regulations, volatility in crude oil prices, global expansion of palm oil production, consumer awareness of sustainable products, shift toward green chemistry.. The palm methyl ester derivatives market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to bi