Palm Methyl Ester Derivative Market is expected to grow at a CAGR of around 5.3% from 2017 to 2025: Radiant Insights

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Palm Methyl Ester Derivative Market is expected to grow at a CAGR of around 5.3% from 2017 to 2025: Radiant Insights

The global palm methyl ester derivatives market is anticipated to reach USD 1.01 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for CPO and PKO derived products from a wide range of sectors including personal care, home care, and food along with other industrial products such as adhesives, lubricants, paints, coatings, and inks is expected to influence product demand over the forecast period.

Palm methyl ester derivatives are essentially oleochemicals processed from CPO and PKO, leading to greater global demand driven by sustainability along with environmental and health concerns. Rising consumer preference for natural ingredients and process sustainability in personal care, food, and other sectors is also anticipated to boost product demand.

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In the past few years, the industry has witnessed increasing investments in R&D activities for the development of biodegradable products, which can substitute the petroleum-based ones. This, in turn, has led to increased dependence on these specialty chemicals. Some of the major application sectors of the products include homecare, personal care, and cosmetic products.

Methyl oleate held the largest share in the market and is expected to continue its dominance over the forecast period. The increasing use of the product as solvents in industrial cleaners, as surfactants in personal care products, as solvents & defamers in the production of inks and coatings and as a lubricant for metal cleaning & precision metal cleaning are expected to be the major factors driving oleate demand over the forecast period.

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Further key findings from the report suggest:

• The collective demand for palm methyl ester derivatives globally was 204 kilo tons in 2016 and is expected to grow at a CAGR of around 5.3% from 2017 to 2025 to exceed a total volume of over 320 kilo tons by 2025

• Crude palm oil (CPO) was the largest source for these derivatives while accounting for over 60% of the total revenue in 2015

• Personal care & cosmetics was the largest application segment for methyl laurate with a demand of over USD 32 million in 2016

• Asia Pacific is expected to be the largest regional market with a projected demand of around USD 575 million by 2025

• The industry is dominated by a few multinational corporations such as Peter Cremer North America, Carotino Group, KLK OLEO, Ecogreen Oleochemicals, and Kao Corporation with significant presence across the value chain

• Companies such as P&G Chemicals, VVF, and KLK Oleo are integrated throughout the value chain from manufacturing of raw materials for downstream chemicals to finished products such as detergents, soaps, and personal care products.

Read more related reports by Radiant Insights:

·         Fatty Amines Market-

The global fatty amines market is anticipated to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand for high-quality surfactants and emulsifiers due to increased usage of personal and household care products in emerging economies such as Asia Pacific is excepted to steer the market growth in the near future.

Fatty amines market growth is mainly depended on the end-use industries. The U.S. fatty amines market in water treatment chemicals application was valued over USD 52 million in 2016. Growing awareness regarding recycling and reusing polluted water due to water scarcity is anticipated to steer product demand in the region.

·         Recycled Polyethylene Terephthalate (PET) Market-

The global recycled polyethylene terephthalate (PET) market is expected to reach USD 10.8 billion by 2025, according to a new report by Grand View Research, Inc. Changing end-user perception towards sustainable sourcing of bottling materials and ban of landfills (introduced in European nations) has positively impacted industry growth in the recent past.

Increasing awareness among general populace about plastic wastage has prompted governments to take initiatives that are aimed at promoting plastic recycling, which in turn boosted polyethylene terephthalate recycling landscape. Furthermore, bottling companies across the global are gradually adopting to recycled PET in order to establish sustainable material sourcing strategies.

About Radiant Insights, Inc

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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