Palm Methyl Ester Derivatives Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4150
Palm Methyl Ester Derivatives Market size will experience a substantial growth from 2019 to 2025 owing to its increasing use in personal care and detergents industry. Methyl esters are kind of fatty acids produced by alkali-catalyzed reaction in between fatty acids (or fats) and methanol. Palm oil-based derivatives of methyl esters are increasing in demand owing to their intrinsic properties offered by their base vegetable oil.
Global personal care and cosmetics market has been observing a steady rise in past few years. In 2017, it was reported over USD 200 billion in global sales. The global cosmetics market has grown from 2.9% in 2008 to about 5% in 2017. It is indicative of the growing cosmetics industry, mainly due to wide customer base (including both, men & women) and growing e-commerce sector, which is pushing cosmetics sales in previously limited geographical markets. As the cosmetics industry grows, it will propel the product demand over the forecast period.
The palm methyl ester derivatives demand may experience hindrance over the growing opposition to the palm oil cultivation, as it has resulted in large scale deforestation in its respective growing areas. However, until a suitable substitute is available in the market, the palm oil supply and in turn, the product demand, is likely to be steady in the coming years.
The palm methyl ester derivatives market is segmented based on the type of derivatives It mainly includes methyl linoleate, methyl laurate, methyl palmitate, methyl caprylate, methyl myristate, methyl palmitate, methyl stearate, methyl oleate, and others. Methyl oleate is likely to have a considerable share in the coming years. It is owing to methyl oleate’s role in various processes for manufacturing a number of products for various end-user industries. Methyl oleate is used as defoamer and solvent in the production of inks and coatings. It is also used as a lubricant for metalworking. It acts as an emulsifier, degreaser, and solvent in laundry and household cleaning products. These utility characteristics shall significantly propel palm methyl ester derivatives demand over the forecast timeframe.
Application segments of the palm methyl ester derivatives market include detergents, antioxidants, emulsifiers, wetting agents, stabilizers, waxes, and others. Palm methyl ester derivatives are used in a variety of applications for various chemical processes. The detergents and soap application segment are likely to have a larger share soon. The huge demand for cleaning products will be a chief reason for this development. Almost every palm methyl ester derivative is used to produce domestic and industrial cleaning products, such as adhesive, paint, ink and household cleaners. The growing economic activity with increasing hygienic habits of consumers in Asia Pacific will govern the global cleaning product demand. On account of its vital developments, the palm methyl ester derivatives market is likely to grow soon.
End-user segments of the palm methyl ester derivatives market include personal care & cosmetics, paper and inks, industrial, food & beverages and others. Personal care & cosmetics will be the chief end-user industry where the product is likely to find an increasing use over the forecast period. The product act as excellent emulsifiers and lubricating agents, which is utilized to produce a number of cosmetic products such as nail polish removers, personal soaps, etc. palm methyl ester derivatives is also utilized as a flavoring agent in a number of processed food products such as sauce and jams. In industry. they are largely used as solvents for a number of chemical processes. The following growth of end-user industries will drive product demand over the forecast timeframe.
Asia Pacific will be a significant region, for palm methyl ester derivatives market growth in the coming years. Owing to rapid industrialization in Asia Pacific, the disposable income of consumers is steadily growing. The increased spending capacity coupled with increasing penetration of soap and detergent use for specifically personal hygiene purposes will be a leading factor for fueling product demand in the region. Additionally, the growing industrialized areas of the region will need a greater amount of cleaning products for everyday operations. This factor will also govern the product demand in the coming years. The mentioned developments will cumulatively play a vital role in positively influencing product demand in the region over the forecast timeframe.
The companies functioning in product business are P&G Chemicals, Wilmar International, Timur olechemicals, UNIVAR USA, INC, Godrej, KLK Oleo, Carotino Group, Berg + Schmidt, The Seydel Companies and Penta Manufacturing Company.
Palm Methyl Ester Derivatives Market, By Material, 2014-2025 (Tons) (USD Million)
- Methyl Linoleate
- Methyl Laurate
- Methyl Palmitate
- Methyl Caprylate
- Methyl Myristate
- Methyl Palmitate
- Methyl Stearate
- Methyl Oleate
Palm Methyl Ester Derivatives Market, By Application, 2014-2025 (Tons) (USD Million)
- Wetting agents
Palm Methyl Ester Derivatives Market, By End users, 2014-2025 (Tons) (USD Million)
- Personal care & cosmetics
- Paper and inks
- Food & Beverages
The above information has been provided for the following regions and countries:
- North America
- Latin America
- South Africa.
- Saudi Arabia
- P&G Chemicals
- Wilmar International
- Timur olechemicals Malaysia
- UNIVAR USA, INC
- KLK Oleo
- Carotino Group
- Berg + Schmidt
- The Seydel Companies
- Penta Manufacturing Company
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