Palm Methyl Ester Market
Global Palm Methyl Ester Market Size, Share & Trends Analysis Report By Derivatives Type (Methyl Linoleate, Methyl Laurate, Methyl Palmitate, Methyl Caprylate, Methyl Myristate, Methyl Oleate, and Others) By Application (Agriculture, Lubricants, Solvents, Polymers, Fuel, Food, and Others) Forecast 2021-2027
The global palm methyl ester market is anticipated to grow at a CAGR during the forecast period (2021-2027). The high demand for environmentally friendly products owing to the growing concern regarding the use of non-renewable fuel consumption is the prominent factor that has supered the market growth. The palm methyl ester is a component used to convert the high viscosity of palm oil in the presence of methanol so that it can be used as an engine oil for automotive vehicles and others. Government support and regulations to promote renewable fuels and environmentally friendly products are also expected to drive global palm methyl ester industry demand over the forecast period. The palm methyl ester is also used in industrial, food, cosmetic, and pharmaceutical areas. The rapid growth in these sectors is likely to create demand for palm methyl ester.
Moreover, growing investment in R&D activities to develop biodegradable products and increasing demand for methyl derivatives in end-user applications such as home care, personal care, and cosmetic products is expected to further drive the market during the forecast period. Apart from these, the major players operating in the market are shifting their focus towards utilization of palm oil as a bio-based component for the manufacturing of various products, the factor is going to offer lucrative growth opportunities to the market during the forecast period.
Impact of COVID-19 on Global Palm Methyl Ester Market
The palm methyl ester market has registered a decline in growth due to the COVID-19 pandemic. Disruption in the raw material supply chain due to lockdown imposed by the government led to the decline in market growth. With the increased cases in China which are considered as the major palm oil producer and exporter, the delay in raw material supply has been witnessed. The demand for palm methyl ester from automotive and other end-user verticals was also decreased owing to the halt on manufacturing activities due to govt stringent regulation to shut down all non-essential production facilities globally to curb the further spreading of the virus.
Segmental Outlook
The global palm methyl ester market is segmented based on derivatives type and application. Based on derivatives type, the market is sub-segmented into methyl linoleate methyl laurate, methyl palmitate, methyl caprylate, methyl myristate, methyl oleate, and others. Among these, the methyl oleate segment dominated the palm methyl ester derivatives market by accounting highest share in the market. The high demand for the product in applications such as personal care products, solvents in industrial cleaners, and solvents & defamers in coating and ink production is the factor that boosted the segment growth. On the basis of application, the market is sub-segmented into agriculture, lubricants, solvents, polymers, fuel, food, and others.
Global Palm Methyl Ester Market Share by , 2020 (%)
Solvent Segment Holds the Highest Share in the Global Palm Methyl Ester Market
Based on application, the solvent segment held a significant share in the market in 2020, the segment is further projected to hold the highest share in the market during the forecast period. Palm methyl ester act as a solvent in a wide range of applications such as the preparation of personal care products, industrial cleaners, and precision metal cleaning products. Petroleum-based solvents such as gasoline, diesel fuel, xylene, and trimethylbenzene are used as carrier solvents in automotive vehicles. The Palm methyl ester is used to convert the high viscosity of these solvents before using them as fuel oils in automotive vehicles. The growth in the automotive sector and rapid development in other industries are expected to drive the segment growth during the forecast period.
Regional Outlook
Geographically, the global Palm Methyl Ester market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America is likely to hold the most substantial share in the market during the forecast period. The US and Canada are the major economies contributing a significant share to the market growth. The increase in consumer awareness about bio-based products, and supportive government regulations towards the adoption of bio-based products in end-user industries to replace non-renewable fuels with renewable and environmentally friendly fuels drive the market growth.
Global Palm Methyl Ester Market Growth, By Region 2021-2027
Asia-Pacific Emerge as a Fastest Growing Region in Global Palm Methyl Ester Market
The Asia Pacific emerged as the major consumer of palm methyl ester in 2020. The high demand for palm methyl ester in automotive, paint & coating, biodiesel, lubricants, food industries, and others is the prominent factor driving the market growth. The automotive industry is the biggest end-user of palm methyl ester. The rapid growth in the automotive sector in major economies such as China, India, South Korea creates significant scope for market growth in the region. Apart from these, growth in consumer health awareness and the need for a clean & green environment have led to a significant increase in investments in the palm oil industry. This is estimated to boost the market in the near future.
Market Players Outlook
The key players in the Palm Methyl Ester market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Agricode Bio-Technology Pte Ltd., BASF SE, Carotino Sdn. Bhd., LOL Oleochemicals Sdn. Bhd., P&G Chemical, Ruchi Soya Industries Ltd., TCI Chemicals (India) Pvt Ltd., Timur Oleochemicals Malaysia Sdn. Bhd., Univar Solution Inc, among others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion, and others.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Palm Methyl Ester market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Palm Methyl Ester Industry
• Recovery Scenario of Global Palm Methyl Ester Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Trade Analysis
2.2.3. Porter’s Analysis
2.2.4. Recommendations
2.2.5. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Palm Methyl Ester Market, By Derivatives Type
5.1.1. Methyl Linoleate
5.1.2. Methyl Laurate
5.1.3. Methyl Palmitate
5.1.4. Methyl Caprylate
5.1.5. Methyl Myristate
5.1.6. Methyl Oleate
5.1.7. Others
5.2. Global Palm Methyl Ester Market, By Application
5.2.1. Agriculture
5.2.2. Lubricants
5.2.3. Solvents
5.2.4. Polymers
5.2.5. Fuel
5.2.6. Food
5.2.7. Others (Surfactants, Metal Working Fluids)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East & Africa
7. Company Profiles
7.1. Agricode Bio-Technology Pte Ltd
7.2. BASF SE
7.3. Berg + Schmidt
7.4. Carotino Sdn. Bhd.
7.5. Emery Oleochemicals Group
7.6. Future Prelude Sdn. Bhd.,
7.7. KLK OLEO
7.8. LOL Oleochemicals Sdn. Bhd.,
7.9. P&G Chemical
7.10. Penta Manufacturing Co
7.11. Ruchi Soya Industries Ltd.,
7.12. TCI Chemicals (India) Pvt Ltd.
7.13. Timur Oleochemicals Malaysia Sdn. Bhd.,
7.14. Univar Solution Inc.
7.15. Vance Bioenergy Sdn. Bhd.,
7.16. Wilmar International Ltd.
1. GLOBAL PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY DERIVATIVES TYPE , 2020-2027 ($ MILLION)
2. GLOBAL PALM METHYL LINOLEATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL PALM METHYL LAURATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL PALM METHYL PALMITATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL PALM METHYL CAPRYLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL PALM METHYL MYRISTATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL PALM METHYL OLEATE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL OTHER PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
10. GLOBAL PALM METHYL ESTER IN AGRICULTURE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL PALM METHYL ESTER IN LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL PALM METHYL ESTER IN SOLVENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL PALM METHYL ESTER IN POLYMERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL PALM METHYL ESTER IN FUEL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL PALM METHYL ESTER IN FOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL PALM METHYL ESTER IN OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. NORTH AMERICAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
18. NORTH AMERICAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY DERIVATIVES TYPE , 2020-2027 ($ MILLION)
19. NORTH AMERICAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
20. EUROPEAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY DERIVATIVES TYPE , 2020-2027 ($ MILLION)
22. EUROPEAN PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY DERIVATIVES TYPE , 2020-2027 ($ MILLION)
25. ASIA-PACIFIC PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
26. REST OF THE WORLD PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
27. REST OF THE WORLD PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY DERIVATIVES TYPE , 2020-2027 ($ MILLION)
28. REST OF THE WORLD PALM METHYL ESTER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL PALM METHYL ESTER MARKET, 2020-2027 (% MILLION)
2. IMPACT OF COVID-19 ON GLOBAL PALM METHYL ESTER MARKET BY SEGMENT, 2020-2027 (% MILLION)
3. RECOVERY OF GLOBAL PALM METHYL ESTER MARKET, 2020-2027 (%)
4. GLOBAL PALM METHYL ESTER MARKET SHARE BY DERIVATIVES TYPE , 2020 VS 2027 (%)
5. GLOBAL PALM METHYL ESTER MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
6. GLOBAL PALM METHYL ESTER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL PALM METHYL LINOLEATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL PALM METHYL LAURATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL PALM METHYL PALMITATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL PALM METHYL CAPRYLATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL PALM METHYL MYRISTATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL PALM METHYL OLEATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL OTHER PALM METHYL ESTER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL PALM METHYL ESTER IN AGRICULTURE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL PALM METHYL ESTER IN LUBRICANTS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL PALM METHYL ESTER IN SOLVENTS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL PALM METHYL ESTER IN POLYMERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL PALM METHYL ESTER IN FUEL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. GLOBAL PALM METHYL ESTER IN FOOD MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
20. GLOBAL PALM METHYL ESTER IN OTHERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
21. US PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
22. CANADA PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
23. UK PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
24. FRANCE PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
25. GERMANY PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
26. ITALY PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
27. SPAIN PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
28. REST OF EUROPE PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
29. INDIA PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
30. CHINA PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
31. JAPAN PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
32. REST OF ASIA-PACIFIC PALM METHYL ESTER MARKET SIZE, 2020-2027 ($ MILLION)
33. REST OF THE WORLD PALM METHYL ESTER MARKET SIZE, 2021-2027($ MILLION
