Global Palm Methyl Ester Derivatives Market Size To Worth USD 2.81 Billion By 2033 | CAGR of 6.55%
Category: Chemicals & MaterialsGlobal Palm Methyl Ester Derivatives Market Size To Worth USD 2.81 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Palm Methyl Ester Derivatives Market Size is Expected to Grow from USD 1.49 Billion in 2023 to USD 2.81 Billion by 2033, at a CAGR of 6.55% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 117 Market data tables and figures & charts from the report on The " Global Palm Methyl Ester Derivatives Market Size, Share, and COVID-19 Impact Analysis, By Product (Caprylate, Laurate, Myristate, Palmitate, Stearate, Oleate, Linoleate, and Others), By Source (Crude Palm Oil (CPO) and Palm Kernel Oil (PKO)), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/palm-methyl-ester-derivatives-market
The palm methyl ester derivatives market refers to the application of palm oil-derived products in industries like personal care, cosmetics, and household cleaning products. The chemical compound is used as emulsifiers, surfactants, and biofuels. Because of PME’s biodegradability and excellent lubricating properties, PME (palm methyl ester derivative) is utilized as a base oil in lubricant products. The increased need for personal care and the cosmetic industry along with the increasing awareness regarding health, wellness, and personal grooming & appearance is escalating the lucrative market growth opportunity for palm methyl ester derivatives. The rising production of soaps & detergents, and personal care & cosmetics along with the surging modern lifestyle and booming urbanization are driving the market demand for palm methyl ester derivatives. Further, the expanding use of in manufacturing biodiesel and emphasis on sustainable agriculture practices are propelling the market. However, the concerns about deforestation and plant diversity loss as well as the price fluctuation of palm oil are restraining the market.
The laurate segment dominated the global palm methyl ester derivatives market with the largest revenue share in 2023.
Based on the product, the palm methyl ester derivatives market is classified into caprylate, laurate, myristate, palmitate, stearate, oleate, linoleate, and others. Among these, the laurate segment dominated the global palm methyl ester derivatives market with the largest revenue share in 2023. Products including cosmetics, soaps, shampoos, and biofuels use laurate, a fatty acid methyl ester made from palm methyl esters. The growing trend of sustainable and bio-based products is driving the market in the laurate segment.
The crude palm oil (CPO) segment accounted for the largest revenue share of the global palm methyl ester derivatives market in 2023.
Based on the source, the palm methyl ester derivatives market is classified into crude palm oil (CPO) and palm kernel oil (PKO). Among these, the crude palm oil (CPO) segment accounted for the largest revenue share of the global palm methyl ester derivatives market in 2023. In addition to producing biodiesel and other industrial products, crude palm oil is used in cooking, soap production, and cosmetic manufacturing. The availability and lower production cost of CPO leads to drive the market demand.
Asia Pacific is estimated to hold the largest share of the palm methyl ester derivatives market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the palm methyl ester derivatives market over the forecast period. Nations like Indonesia and Malaysia play an essential role in the availability and supply of palm methyl ester derivatives in the region, thereby driving the regional market growth. Furthermore, as a result of rising local demand owing to the rising living standards and disposable income, the region has become a significant consumer of specialized chemicals.
Europe is predicted to grow at the fastest CAGR in the palm methyl ester derivatives market over the forecast period. The use of palm methyl ester derivatives for industrial applications and the establishment of manufacturers and research institutions dedicated to renewable chemicals are propelling market growth. The stringent regulations on the usage of renewable resources along with the increased emphasis on sustainability and environmental protection are contributing to driving the market demand.
Major key players in the global palm methyl ester derivatives market include Wilmar International Ltd., Kao Corporation, Cremer North America, LP, Carotino Group, Procter & Gamble, KLK OLEO, Ecogreen Oleochemicals, Future Prelude Sdn Bhd, PMC Biogenix, Inc., Vantage Specialty Ingredients, Pacific Oleochemicals Sdn Bhd, Acme-Hardesty Company, Zhejiang Haiyan Fine Chemical Industry Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the palm methyl ester derivatives market based on the below-mentioned segments:
Global Palm Methyl Ester Derivatives Market, By Product
- Caprylate
- Laurate
- Myristate
- Palmitate
- Stearate
- Oleate
- Linoleate
- Others
Global Palm Methyl Ester Derivatives Market, By Source
- Crude Palm Oil (CPO)
- Palm Kernel Oil (PKO)
Global Palm Methyl Ester Derivatives Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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