PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1757771
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1757771
Global Methyl Myristate Market to Reach US$24.2 Billion by 2030
The global market for Methyl Myristate estimated at US$20.1 Billion in the year 2024, is expected to reach US$24.2 Billion by 2030, growing at a CAGR of 3.1% over the analysis period 2024-2030. Industrial Grade, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$11.4 Billion by the end of the analysis period. Growth in the Food Grade segment is estimated at 2.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$5.5 Billion While China is Forecast to Grow at 6.0% CAGR
The Methyl Myristate market in the U.S. is estimated at US$5.5 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2030 trailing a CAGR of 6.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Global Methyl Myristate Market - Key Trends & Drivers Summarized
Why Is Methyl Myristate Emerging as a Bio-Based Alternative in Key Industries?
Methyl myristate, the methyl ester of myristic acid, is gaining increasing relevance as a sustainable, plant-derived compound used across cosmetic, pharmaceutical, industrial, and fuel sectors. Naturally sourced from coconut, palm kernel, or nutmeg oils, it serves as a biodegradable emollient, solvent, and processing aid in formulations that require low toxicity, skin-friendliness, and environmental safety. In recent years, as consumer and industrial markets pivot toward eco-friendly ingredients, methyl myristate has gained momentum as a non-petroleum-based alternative for a variety of applications.
In personal care and cosmetics, it is used for its quick-spreading, non-greasy feel in lotions, sunscreens, hair care products, and makeup formulations. It also functions as a penetration enhancer for active ingredients in dermal products. Beyond cosmetics, methyl myristate is used in lubricants, plasticizers, and mold-release agents, offering high lubricity and biodegradability. Its role as a high-cetane additive or component in biodiesel is also gaining attention, particularly in low-sulfur fuel blends that require enhanced cold-start performance.
How Are Production Methods and Feedstock Choices Influencing Market Development?
The production of methyl myristate is primarily based on transesterification of natural triglycerides rich in myristic acid. The sustainability of its supply is strongly influenced by the availability and price volatility of coconut and palm-derived feedstocks. With the push toward traceable and certified sustainable palm oil, manufacturers are increasingly aligning with RSPO and other sustainability certification programs. Additionally, enzymatic transesterification and solvent-free synthesis methods are being explored to enhance yield, reduce energy use, and meet green chemistry benchmarks.
Blending capabilities and cross-functional use are also helping improve market penetration. For instance, co-production of other methyl esters such as methyl laurate and methyl palmitate allows producers to optimize operational efficiency and supply multiple industries from the same feedstock base. Integrated oleochemical platforms in Southeast Asia are particularly well-positioned to scale up production cost-effectively while meeting environmental regulations and product quality specifications for global exports.
What Applications Are Expanding Methyl Myristate’s Global Demand Profile?
The cosmetics and personal care industry remains the largest end-use segment, driven by rising demand for biocompatible emollients and natural-origin skin conditioning agents. The global shift toward "clean beauty" is reinforcing methyl myristate’s position as a preferred ester in formulations avoiding synthetic silicones and petroleum-based solvents. In pharmaceuticals, its use as a carrier and solubilizer for topical drug delivery is expanding, particularly in dermatology and pain relief gels.
Industrial applications are also accelerating, especially in biolubricants and processing fluids. Methyl myristate's lubricity, low volatility, and compatibility with synthetic esters make it attractive in food-grade lubricants, rubber processing, and specialty mold-release agents. In energy and fuel markets, the compound’s potential use in biodiesel blends is aligned with regulatory pushes toward renewable fuels and carbon reduction targets. These diverse applications are solidifying its position as a multi-sector, high-potential ester.
The Growth in the Methyl Myristate Market Is Driven by Several Factors…
The growth in the methyl myristate market is driven by several factors closely tied to sustainability, product innovation, and cross-industry utility. The surge in demand for bio-based ingredients in personal care, particularly in Asia-Pacific and North America, is creating a robust consumer base. The increasing adoption of biodegradable and low-toxicity additives in industrial lubricants and plastic processing compounds is further broadening the market.
In parallel, regulatory initiatives supporting green chemistry and carbon-neutral industrial practices are encouraging manufacturers to replace traditional mineral oils and petrochemical solvents with methyl esters. Technological advancements in feedstock traceability, production optimization, and formulation science are enabling more consistent quality and broader application scope. With growing alignment to clean energy, natural cosmetics, and eco-industrial practices, methyl myristate is well-positioned for accelerated global growth.
SCOPE OF STUDY:
The report analyzes the Methyl Myristate market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Industrial Grade, Food Grade, Cosmetics Grade, Other Types); Application (Personal Care & Cosmetics, Food, Lubricant & Additives, Other Applications)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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