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 biojet fuels development, global push for carbon neutrality, global energy security concerns, policy support for biofuel industries, emergence of advanced biofuels.. Major trends in the forecast period include investments in green technologies, focus on product innovation, collaborations and partnerships, technological advancements in biodiesel processing, advancements in conversion technologies..

 

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Segmentation & Regional Insights

The palm methyl ester derivatives market covered in this report is segmented –

1) By Product: Palm Methyl Caprylate, Palm Methyl Laurate, Palm Methyl Myristate, Palm Methyl Palmitate, Palm Methyl Stearate, Palm Methyl Oleate, Palm Methyl Linoleate

2) By Source: Crude Palm Oil, Palm Kernel Oil

3) By End-Use: Soaps and Detergents, Personal Care and Cosmetic Products, Food and Beverages, Lubricants and Additives, Solvents, Other End Users

 

Top Major Players

Wilmar International Limited

The Procter & Gamble Company

Carotino Sdn Bhd

KLK OLEO Group of Companies

Musim Mas Holdings Pte. Ltd.

 

Asia-Pacific was the largest region in the palm methyl ester derivatives market share in 2023. Europe was the second-largest region in the palm methyl ester derivatives market. The regions covered in the palm methyl ester derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 

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Major Driver Impacting Market Growth

Rising awareness regarding natural ingredients used in personal care is expected to propel the growth of the palm methyl ester derivatives market going forward. Natural ingredients are substances that are derived from natural resources through physical processing. Palm methyl ester derivates are used in personal care products; eventually, demand for natural products will propel the growth of the market. For instance, according to a report published by Forbes, an US-based business magazine, in October 2022, 93% of buyers of beauty products regard to nature and animal welfare as essential factors and 9 out of 10 consumers agree that ethical factors, such as sustainability, should be taken into account when purchasing beauty goods. Therefore, the rising awareness regarding natural ingredients used in personal care is driving the palm methyl ester derivatives market.

 

Key Industry Players

Major companies operating in the palm methyl ester derivatives market report are Wilmar International Limited, The Procter & Gamble Company, Carotino Sdn Bhd, KLK OLEO Group of Companies, Musim Mas Holdings Pte. Ltd., Emery Oleochemicals Group, Hebei Jingu Plasticizer Co. Ltd., CREMER Oleo GmbH & Co. KG, PT Ecogreen Oleochemicals, VVF Limited Liability Company, Timur Oleochemicals Malaysia Sdn Bhd, Pacific Oleochemicals Sdn Bhd, Godrej Industries Limited, Cargill Incorporated, PTT Global Chemical Public Company Limited, PT Sinar Mas Agro Resources and Technology Tbk, Peter Cremer North America LP, Asian Agri Group, Apical Group Ltd., IOI Loders Croklaan Group, Kao Corporation, Vantage Specialty Chemicals Inc., Twin Rivers Technologies – Specialties LLC, Oxiteno USA LLC, Procter & Gamble Chemicals, Kuala Lumpur Kepong Berhad, Oleon NV, Croda International plc, Chemical Associates Inc.

 

The palm methyl ester derivatives market report table of contents includes:

1. Executive Summary

2. Palm Methyl Ester Derivatives Market Characteristics

3. Palm Methyl Ester Derivatives Market Trends And Strategies

4. Palm Methyl Ester Derivatives Market - Macro Economic Scenario

5. Global Palm Methyl Ester Derivatives Market Size and Growth

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31. Global Palm Methyl Ester Derivatives Market Competitive Benchmarking

32. Global Palm Methyl Ester Derivatives Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Palm Methyl Ester Derivatives Market

34. Palm Methyl Ester Derivatives Market Future Outlook and Potential Analysis

35. Appendix

 

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