According to the recent study the palm methyl ester derivative market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by rising preference for bio-based and natural products, continuous industrial shift toward utilization of palm-based raw materials for manufacturing various products, and growing investment in R&D activities to develop biodegradable products.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in palm methyl ester derivative market by source (crude palm oil and palm kernel oil), product (methyl caprylate, methyl laurate, methyl myristate, methyl stearate, methyl oleate, methyl palmitate, and methyl linoleate), application (soap and detergent, personal care and cosmetics, textile treatments, inks, rubber, waxes, food and beverages, lubricants and additives, agricultural products, biofuel, paints and coatings, pharmaceutical ingredients, plasticizers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Methyl laurate market is expected to remain the largest segment during the forecast period.”
Based on product, the palm methyl ester derivative market is segmented into methyl caprylate, methyl laurate, methyl myristate, methyl stearate, methyl oleate, methyl palmitate, and methyl linoleate. Lucintel forecasts that the methyl laurate market is expected to remain the largest segment due to its superior quality as compared to its other substitutes, increasing usage among various application, and huge demand from personal care & cosmetics industry.
“Within the palm methyl ester derivative market, the personal care and cosmetics segment is expected to remain the largest application”
Based on application the personal care and cosmetics segment is expected to witness the highest growth over the forecast period due to the growing population of emerging countries, increasing demand for cosmetics among population and growing usage of methyl ester as lubricating agents and emulsifiers among personal care and cosmetic industry.
“Asia pacific will dominate the palm methyl ester derivative market in near future”
Asia Pacific will remain the largest region due to the increasing demand from a wide range of end use industries, growing health concern among consumers, and low-cost raw materials available in the region.
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Major players of palm methyl ester derivative market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Musim Mas Mas, Oleon, KLK Oleo, Wilmar International, VVF, Emery Oleochemicals, and Carotino are among the major palm methyl ester derivative providers.
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