Palm Methyl Ester Derivatives Market Size Worth $3.28 Billion By 2032

The palm methyl ester derivatives market revolves around the production, distribution, and utilization of various derivatives derived from palm methyl ester, a renewable and sustainable raw material sourced from palm oil. These derivatives find applications across diverse industries due to their versatility, eco-friendliness, and functional properties.

The global palm methyl ester derivatives market size is expected to reach USD 3.28 billion by 2032, according to a new study by Polaris Market Research. The report “Palm Methyl Ester Derivatives Market Share, Size, Trends, Industry Analysis Report, By Product (Palm Methyl Caprylate, Palm Methyl Laurate, Palm Methyl Myristate, Palm Methyl Stearate, and Others); By Source; By End-Use; By Region; Segment Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapid expansion of personal care & cosmetics product applications globally has paved the way for greater adoption of the product, as they are widely used as lubricants and emulsifiers in numerous personal care and cosmetic products.

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Moreover, rising investment in R&D activities to innovate biodegradable products and expand their production capacities along with the surging focus of giant market players towards utilization of palm oil as a bio-based component, are expected to create lucrative growth opportunities for the market. For instance, in May 2022, Olean, announced the establishment of new manufacturing facility in Baytown, with a total investment of USD 50 Mn. The new facility will be started by the end of 2023 and will be producing esters by utilizing the company’s newest technology.

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Demand and prevalence for sustainable and non-toxic alternative insulating fluid has been on the rise globally due to growing negative impacts on environment of mineral-based insulating fluids. Additionally, this ester derivatives are being heavily used as raw materials for food emulsifiers, as it acts as a flavoring agent and flavor stabilizer, which creates huge potential for market.

Methyl esters, that are derived from the natural fats and oils, might be used as effective alternative to the fatty acids in the manufacturing of large number of oleochemicals & its associated derivatives. Methyl esters have gained huge penetration as feedstock to produce many other oleo-chemicals including fatty alcohol, sulphonates, iso-propyl esters, sucrose poly-esters, & alkanol-amides.

Palm Methyl Ester Derivatives Market Report Highlights

  • Palm methyl oleate segment led the global market share in 2022, mainly due to rising utilization of the product in wide range of applications including industrial cleaners and metals & precision metals
  • Palm kernel oil segment is expected to grow prominently during the anticipated period, which is driven by growth in the demand for soaps & detergents worldwide
  • Personal care & cosmetic segment held the significant market share in 2022, on account of widespread adoption of these products due to change in consumer lifestyles and increased disposable income
  • Asia Pacific region dominated the global market with majority share in 2022, owing to high burden of population and rapid growth in end-use industries including food & beverages and automotive
  • The global key market players include Emery Oleochemicals, The Procter & Gamble Company, Carotino Group, Apical Group, and Wilmar International
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Polaris Market Research has segmented the palm methyl ester derivatives market report based on product, source, end-use, and region:

Palm Methyl Ester Derivatives, Product Outlook (Revenue – USD Billion, 2019 – 2032)

  • Palm Methyl Caprylate
  • Palm Methyl Laurate
  • Palm Methyl Myristate
  • Palm Methyl Stearate
  • Palm Methyl Oleate
  • Palm Methyl Palmitate
  • Palm Methyl Linoleate
  • Others

Palm Methyl Ester Derivatives, Source Outlook (Revenue – USD Billion, 2019 – 2032)

  • Crude Pam Oil
  • Palm kernel Oil

Palm Methyl Ester Derivatives, End-Use Outlook (Revenue – USD Billion, 2019 – 2032)

  • Soaps & Detergents
  • Personal Care & Cosmetic Products
  • Food & Beverages
  • Lubricants & Additives
  • Solvents
  • Others

Palm Methyl Ester Derivatives, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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