This research estimates that the global palm methyl ester derivatives market would reach $2,106.7 million in 2024.
The heavy demand for these derivatives for the manufacturing of cosmetics, personal care products, soaps, detergents, and agricultural products, along with the increasing disposable income in Latin America (LATAM) and Asia-Pacific (APAC) regions, is expected to drive the market growth.
For easy understanding, the market has primarily been segmented by product, type, and application. Palm kernel oil (PKO) and crude palm oil (CPO) are the two categories under the type segment, of which PKO is estimated to lead the palm methyl ester derivatives market in terms of sales volume in 2018. Rich in nutrients (such as unsaturated fats and vitamins K and A) and antioxidants, PKO also has a high oil content. Thus, owing to its beneficial properties, the demand for PKO is fairly high in the market.
Similarly, methyl laurate, methyl caprylate, methyl palmitate, methyl myristate, methyl oleate, methyl stearate, and methyl linoleate are the major categories under the product segment. The revenue share of methyl oleate is estimated to be the largest in 2018 due to its heavy demand in various industries. This is also expected to help the palm methyl ester derivatives market grow during the forecast period.
In 2018, the highest revenue in the market is estimated to be generated from soaps and detergents. Palm-based derivatives, including stearates, oleates, linoleates, palmitates, caprylates, laurates, and myristates, are being increasingly used in the manufacturing of detergents and soaps, owing to their high lather and froth formation, low cost, good emulsifying capabilities, and optimum performance during hard and soft washes.
The Procter & Gamble Company, Wilmar International Ltd., Musim Mas Group, IOI Corporation Berhad, Emery Oleochemicals Group, KLK Oleo, Oleon NV, and VVF LLC are among the key palm methyl ester derivatives market players. Most of these companies either have their manufacturing plants in or source their raw material from Malaysia and Indonesia, the two largest producers of palm oil and palm oil derivatives in the world.
A major trend seen in the market is the backward and forward integration among manufacturers, primarily aimed at supply chain integration and market share improvement. Unveiling of new palm oil-containing consumer products and increasing acquisitions of plantations are fueling this market trend.
Key Topics Covered
Chapter 1. Research Background 1.1 Research Objectives 1.2 Market Definition 1.3 Research Scope 1.3.1 Market Segmentation by Type 1.3.2 Market Segmentation by Product 1.3.3 Market Segmentation by Application 1.3.4 Market Segmentation by Geography 1.3.5 Analysis Period 1.3.6 Market Data Reporting Unit 1.3.6.1 Value 1.3.6.2 Volume 1.4 Key Stakeholders
Chapter 2. Research Methodology 2.1 Secondary Research 2.2 Primary Research 2.2.1 Breakdown of Primary Research Respondents 2.2.1.1 By region 2.2.1.2 By industry participant 2.2.1.3 By company type 2.3 Market Size Estimation 2.4 Data Triangulation 2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Type 4.1.1.1 Crude palm oil (CPO) 4.1.1.2 Palm kernel oil (PKO) 4.1.2 By Product 4.1.2.1 Methyl caprylate 4.1.2.2 Methyl laurate 4.1.2.3 Methyl myristate 4.1.2.4 Methyl palmitate 4.1.2.5 Methyl stearate 4.1.2.6 Methyl oleate 4.1.2.7 Methyl linoleate 4.1.2.8 Others 4.1.3 By Application 4.1.3.1 Soaps and detergents 4.1.3.2 Personal care and cosmetics 4.1.3.3 Food and beverages 4.1.3.4 Lubricants and additives 4.1.3.5 Solvents 4.1.3.6 Others 4.2 Value Chain Analysis 4.3 Production Process 4.4 Market Dynamics 4.4.1 Trends 4.4.1.1 Shifting consumer preference toward organic personal care products 4.4.2 Drivers 4.4.2.1 Growing demand for organic cosmetics and personal care products 4.4.2.2 Increasing adoption of palm oil derivatives owing to their beneficial properties 4.4.2.3 Impact analysis of drivers on market forecast 4.4.3 Restraints 4.4.3.1 Increasing regulatory pressure on companies to source palm oil from sustainable farms 4.4.3.2 Impact analysis of restraints on market forecast 4.4.4 Opportunities 4.4.4.1 Commercial adoption of palm oil-based biodiesel 4.5 Price Analysis, By Region
Chapter 5. Global Market Size and Forecast 5.1 By Type 5.2 By Product 5.2.1 Palm Methyl Caprylate, By Application 5.2.2 Palm Methyl Laurate, By Application 5.2.3 Palm Methyl Myristate, By Application 5.2.4 Palm Methyl Palmitate, By Application 5.2.5 Palm Methyl Stearate, By Application 5.2.6 Palm Methyl Oleate, By Application 5.2.7 Palm Methyl Linoleate, By Application 5.3 By Application 5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape 11.1 Market Share Analysis of Key Players 11.2 Competitive Benchmarking of Key Players 11.3 Strategic Developments of Key Players
Chapter 12. Company Profiles 12.1 Wilmar International Ltd. 12.1.1 Business Overview 12.1.2 Product and Service Offerings 12.1.3 Key Financial Summary 12.1.4 Palm Methyl Ester Derivative Offerings 12.2 The Procter & Gamble Company 12.3 KLK OLEO 12.4 Musim Mas Group 12.5 IOI Corporation Berhad 12.6 VVF LLC 12.7 Emery Oleochemicals Group 12.8 Carotino Group 12.9 Vantage Specialty Ingredients Inc. 12.10 Hebei Jingu Plasticizer Co. Ltd. 12.11 Haiyan Fine Chemical Industry Co. Ltd. 12.12 PMC Biogenix Inc. 12.13 Peter Cremer North America L.P. 12.14 Timur OleoChemicals 12.15 Shanghai Qianwei Oil Science & Technology Co. Ltd. 12.16 Ecogreen Oleochemicals (Singapore) Pte. Ltd. 12.17 Pacific Oleochemicals Sdn Bhd 12.18 Kao Corporation
