Market Research Report
Palm Methyl Ester Derivatives Market (2014-2024)
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||811809|
|Published||Content info||300 Pages
Delivery time: 1-2 business days
|Palm Methyl Ester Derivatives Market (2014-2024)|
|Published: February 19, 2019||Content info: 300 Pages||
P&S Intelligence has estimated that the global palm methyl ester derivatives market would reach $2,106.7 million in 2024. The heavy demand for these derivatives for the manufacturing of cosmetics, personal care products, soaps, detergents, and agricultural products, along with the increasing disposable income in Latin America (LATAM) and Asia-Pacific (APAC) regions, is expected to drive the market growth.
For easy understanding, the market has primarily been segmented by product, type, and application. Palm kernel oil (PKO) and crude palm oil (CPO) are the two categories under the "type" segment, of which PKO is estimated to lead the palm methyl ester derivatives market in terms of sales volume in 2018. Rich in nutrients (such as unsaturated fats and vitamins K and A) and antioxidants, PKO also has a high oil content. Thus, owing to its beneficial properties, the demand for PKO is fairly high in the market.
Similarly, methyl laurate, methyl caprylate, methyl palmitate, methyl myristate, methyl oleate, methyl stearate, and methyl linoleate are the major categories under the "product" segment. The revenue share of methyl oleate is estimated to be the largest in 2018 due to its heavy demand in various industries. This is also expected to help the palm methyl ester derivatives market grow during the forecast period.
In 2018, the highest revenue in the market is estimated to be generated from soaps and detergents. Palm-based derivatives, including stearates, oleates, linoleates, palmitates, caprylates, laurates, and myristates, are being increasingly used in the manufacturing of detergents and soaps, owing to their high lather and froth formation, low cost, good emulsifying capabilities, and optimum performance during hard and soft washes.
The Procter & Gamble Company, Wilmar International Ltd., Musim Mas Group, IOI Corporation Berhad, Emery Oleochemicals Group, KLK Oleo, Oleon NV, and VVF LLC are among the key palm methyl ester derivatives market players. Most of these companies either have their manufacturing plants in or source their raw material from Malaysia and Indonesia, the two largest producers of palm oil and palm oil derivatives in the world. A major trend seen in the market is the backward and forward integration among manufacturers, primarily aimed at supply chain integration and market share improvement. Unveiling of new palm oil-containing consumer products and increasing acquisitions of plantations are fueling this market trend.