Palm Methyl Ester Derivatives Market To Reach $2.45 Billion By 2030

Palm Methyl Ester Derivatives Market Growth & Trends

The global palm methyl ester derivatives market size is anticipated to reach USD 2.45 billion by 2030, expanding at a CAGR of 6.6% from 2024 to 2030, 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.

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 is expected to be the major factors driving oleate demand over the forecast period.

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Palm Methyl Ester Derivatives Market Report Highlights

• The laurate segment held the largest market revenue share of 31.1% in 2023. Laurates, derived from palm methyl esters, are valued for their emulsifying, moisturizing, and cleansing properties, making them a key ingredient in cosmetics, soaps, and shampoos.

• The crude palm oil (CPO) segment held the largest market revenue share in 2023. CPO is a key raw material used in producing palm methyl esters, essential in various industries, including biofuels, cosmetics, and personal care products.

• Asia Pacific held the largest market revenue share of 59.3% in 2023. Countries such as Indonesia and Malaysia, among the largest producers of palm oil globally, play a critical role in the region's availability and supply of palm methyl ester derivatives.

Palm Methyl Ester Derivatives Market Segmentation

Grand View Research has segmented the global palm methyl ester derivatives market on the basis of product, source, and region:

Palm Methyl Ester Derivatives Market Product Outlook (Revenue, USD Million, 2018 - 2030)

• Caprylate

  • Fatty Alcohols

  • Solvent/Co-Solvent

  • Agriculture

  • Personal Care & Cosmetics

  • Lubricant and additives

  • Food

  • Others

• Laurate

  • Fatty Alcohols

  • Solvent/Co-Solvent

  • Chemical Synthesis

  • Personal Care & Cosmetics

  • Paints and inks

  • Others

• Myristate

  • Fatty Alcohols/Fatty Methyl Ester Sulfonate (FMES)

  • Detergent

  • Lubricant

  • Personal Care & Cosmetics

  • Others

• Palmitate

  • Detergents

  • Lubricant and additives

  • food and beverage

  • Personal Care & Cosmetics

  • Others

• Stearate

  • Soaps and detergents

  • Lubricant and additives

  • Food

  • Personal Care & Cosmetics

  • Others

• Oleate

  • Fatty Alcohols

  • Solvent/Co-Solvent

  • soaps and detergents

  • Lubricant and additive

  • Personal Care & Cosmetics

  • Others

• Linoleate

  • Solvent/Co-Solvent

  • Soap and detergent

  • Personal Care & Cosmetics

  • Food

  • Others

• Other Products

Palm Methyl Ester Derivatives Market Source Outlook (Revenue, USD Million, 2018 - 2030)

• Crude Palm Oil (CPO)

• Palm Kernel Oil (PKO)

Palm Methyl Ester Derivatives Market Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players of Palm Methyl Ester Derivatives Market

• Cremer North America, LP

• Carotino Group

• Procter & Gamble

• KLK OLEO

• Ecogreen Oleochemicals

• Kao Corporation

• Wilmar International Ltd

• Future Prelude Sdn Bhd

• PMC Biogenix, Inc.

• Vantage Specialty Ingredients

• Pacific Oleochemicals Sdn Bhd

• Acme-Hardesty Company

• Zhejiang Haiyan Fine Chemical Industry Co., Ltd