The Palm Methyl Ester Derivatives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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As per The Business Research Company’s comprehensive Palm Methyl Ester Derivatives Global Market Report for 2024, the robust growth trajectory of the palm methyl ester derivatives market continues its ascendancy. Projected to surge from $3.66 billion in 2023 to an estimated $3.89 billion in 2024, this uptrend reflects a noteworthy compound annual growth rate (CAGR) of 6.3%. The market’s historical advancement is intricately linked to factors such as the upsurge in biodiesel production, stringent environmental regulations, the fluctuating dynamics of crude oil prices, the global proliferation of palm oil production, heightened consumer consciousness regarding sustainable products, and a notable shift towards green chemistry practices.
Anticipating a trajectory of formidable expansion, the palm methyl ester derivatives market is poised to reach an impressive $5.09 billion by 2028, manifesting a compelling CAGR of 7.0%. The impending growth in this forecasted period finds its roots in the development of biojet fuels, the global impetus towards carbon neutrality, concerns surrounding global energy security, robust policy support propelling biofuel industries, and the emergence of cutting-edge advanced biofuels. Noteworthy trends set to define this forecasted period include strategic investments in green technologies, an unwavering focus on transformative product innovations, heightened collaborative efforts and partnerships within the industry, and pivotal technological advancements in biodiesel processing methodologies, coupled with breakthroughs in conversion technologies.
Rising awareness regarding natural ingredients used in personal care is expected to propel the growth of the palm methyl ester derivatives market going forward. Natural ingredients are substances that are derived from natural resources through physical processing. Palm methyl ester derivates are used in personal care products; eventually, demand for natural products will propel the growth of the market. For instance, according to a report published by Forbes, an US-based business magazine, in October 2022, 93% of buyers of beauty products regard to nature and animal welfare as essential factors and 9 out of 10 consumers agree that ethical factors, such as sustainability, should be taken into account when purchasing beauty goods. Therefore, the rising awareness regarding natural ingredients used in personal care is driving the palm methyl ester derivatives market.
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The palm methyl ester derivatives market covered in this report is segmented –
1) By Product: Palm Methyl Caprylate, Palm Methyl Laurate, Palm Methyl Myristate, Palm Methyl Palmitate, Palm Methyl Stearate, Palm Methyl Oleate, Palm Methyl Linoleate
2) By Source: Crude Palm Oil, Palm Kernel Oil
3) By End-Use: Soaps and Detergents, Personal Care and Cosmetic Products, Food and Beverages, Lubricants and Additives, Solvents, Other End Users
Top 5 Major Players:
- Wilmar International Limited,
- The Procter & Gamble Company,
- Carotino Sdn Bhd,
- KLK OLEO Group of Companies,
- Musim Mas Holdings Pte. Ltd.
A prominent trend that garners substantial traction within the palm methyl ester derivatives market landscape is innovation. Leading entities in this market are channeling their efforts into pioneering extraction processes, thereby fortifying their market presence. An exemplar instance of this commitment to innovation transpired in November 2022 when the American Chemical Society, a distinguished US-based scientific society, introduced a groundbreaking extraction process for methyl ester from oil seeds. This single-step process, utilizing heterogeneous catalysts, stands as a paradigm shift, enabling maximum oil extraction in a singular process, superseding conventional two/three-step methods. This pioneering approach underscores the industry’s dedication to advancing sustainability and efficiency in palm methyl ester derivative production.
The palm methyl ester derivatives market report table of contents includes:
1. Executive Summary
2. Palm Methyl Ester Derivatives Market Characteristics
3. Palm Methyl Ester Derivatives Market Trends And Strategies
4. Palm Methyl Ester Derivatives Market – Macro Economic Scenario
5. Global Palm Methyl Ester Derivatives Market Size and Growth
…..
31. Global Palm Methyl Ester Derivatives Market Competitive Benchmarking
32. Global Palm Methyl Ester Derivatives Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Palm Methyl Ester Derivatives Market
34. Palm Methyl Ester Derivatives Market Future Outlook and Potential Analysis
35. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Palm Methyl Ester Derivatives Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Palm Methyl Ester Derivatives Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Palm Methyl Ester Derivatives Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Wilmar International Limited Financial Performance
Table 75: The Procter & Gamble Company Financial Performance
Table 76: Carotino Sdn Bhd Financial Performance
Table 77: KLK OLEO Group of Companies Financial Performance
Table 78: Musim Mas Holdings Pte. Ltd. Financial Performance
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