17-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Palm Methyl Ester Market By Application (Bio-fuel, Food, Lubricants, Surfactants, Agriculture, Solvents, Polymers, Metal Working Fluids, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global palm methyl ester market in 2019 was approximately USD 5.5 Billion. The market is expected to grow at a CAGR of 5.10% and is anticipated to reach around USD 7.8 Billion by 2026.
The Palm methyl ester is an organic aliphatic ester, obtained from palm oil. Palm oil can not be used directly therefore it is processed to form methyl esters by reacting to it with methanol. It can not be used specifically as engine oil, due to the high viscosity of palm oil. Palm oil forms the basis for biofuel production, and this can be linked to the growth of palm oil methyl ester due to the increasing popularity of biofuels.
Browse the full “Palm Methyl Ester Market By Application (Bio-fuel, Food, Lubricants, Surfactants, Agriculture, Solvents, Polymers, Metal Working Fluids, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/palm-methyl-ester-market-by-application-bio-fuel-769
In the biofuel industry, the rising demand for palm methyl ester is anticipated to push the market for palm methyl ester in the forecast years. Palm methyl ester is commonly used in the paint and coating industries as polymers, solvents, and as surfactants in farming. The methyl ester in the palm is cost-effective and environmentally friendly. The growing trend of green fuel will improve the demand for palm methyl. The food industry is anticipated to boost the palm methyl ester market in the next few years. Nevertheless, problems for instance deforestation of palm plantations can hamper the growth of the demand for palm methyl esters. Nonetheless, current research into palm methyl ester properties and unexploited prospects is likely to have a positive impact on the market for palm methyl ester in the coming years. Nevertheless, the increasing demand for the palm methyl ester market from the food industry is likely to present novel prospects in the future years.
The palm methyl ester is used in a variety of applications, including surfactants, lubricants, polymers, biofuel, fertilizers, solvents, food, metalworking fluids, and others. As a lubricant, the automotive industry, the fiber industry, transformers, hydraulic fluids, and the biodegradable lube industry commonly use palm methyl ester. In the food& beverage industry, too, palm methyl ester is used as an emulsifier and in the agro sector as a solvent to achieve better ecological and bearable adhesion, which significantly contributes to the development of the palm methyl ester market.
The Asia Pacific dominated the market for palm methyl ester in 2019 and is expected to continue its dominance in the years ahead. The rising automotive sector in India, Japan, and China has boosted the market of palm methyl ester and has also created new opportunities in the Asia Pacific region. Scaling up Europe's biofuel investment is likely to boost the biofuel demand which is expected to boost the growth of the market for palm methyl ester over the forecast period.
Some of the key players in the palm methyl ester market are PG Worldwide Trade SDN BHD, RITS, LOL OleochemicalsSdn. Bhd., AM Biofuels Sdn Bhd., Green, and Natural Sdn Bhd., Alternative Fuels Holdings SdnBhd, OnBiz Enterprise, Pure Diesel Co. Ltd., BioinventSdn Bhd., International Source, Natural Fuel PTE Ltd., Agricode Bio-Technology Pte Ltd., and Others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 5.5 Billion |
Projected Market Size in 2026 |
USD 7.8 Billion |
CAGR Growth Rate |
5.10% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Agricode Bio-Technology Pte Ltd., On Biz Enterprise, AM Biofuels SdnBhd, LOL OleochemicalsSdn. Bhd., Alternative Fuels Holdings SdnBhd, PG Worldwide Trade SDN BHD, RITS, Green and Natural Sdn Bhd., BioinventSdn Bhd., International Source, Natural Fuel PTE Ltd., Pure Diesel Co. Ltd., and others. |
Key Segment |
By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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This report segments the palm methyl ester market as follows:
Global Palm Methyl Ester Market: By Application Segmentation Analysis
- Bio-fuel
- Food
- Lubricants
- Surfactants
- Agriculture
- Solvents
- Polymers
- Metal Working Fluids
- Others
Global Palm Methyl Ester Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
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