What is the Current Scenario of Palm Methyl Ester Market?

The Palm Methyl Ester Market is projected to reach USD 9.52 Billion by 2028 at a CAGR of 5.5% during the forecast period.

According to quince market insights, increasing demand for palm methyl ester in diesel engines is one of the major factors influencing the demand during the forecast period. The report provides a detailed analysis of palm methyl ester market trends, market size, and forecasting. This study provides a detailed overview of major companies operating in the market, impact factors influencing the market, and so on.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Wilmar International Limited
2. ADM Company
3. Cargill Inc.
4. Natural Fuel PTI Ltd.
5. KLK OLEO

Asia-Pacific to drive the market demand during the forecast period

Asia-Pacific by region has been the fastest-growing market for palm methyl esters market owing to the presence of countries such as Malaysia, India, China, and others that some of the major producers of palm methyl ester. Moreover, these countries have witnessed tremendous infrastructural as well as industrial growth in the past few decades. Some of these sectors contributing to the growth are major markets for palm methyl esters. The automotive sector is such a major sector in the region that have been using palm methyl esters as a fuel alternative.

Focus on renewable fuels in comparison to traditional fuels

Various countries are increasingly looking towards alternatives for fossil fuels due to volatile market prices and depleting nature. Bio-based alternatives have been developed from the green feedstock. These alternatives have been tested on various automotive either independently or in blend with diesel. Palm methyl ester has been one such alternative that has been increasingly tested by various countries around the world. This is expected to drive the demand of the palm methyl ester market during the forecast period.

Palm Methyl Ester Market Overview:

Palm methyl ester derived from the palm tree is a major type of fatty acid methyl ester (FAME) and finds applications in end-use industries such as automotive, personal & home care, industrial, food & agriculture, chemical, and others. Major applications in these industries include fuel, lubricants, solvents, metalworking fluids, surfactants, and others. Some of the major factors influencing the growth of the market include growing concerns over conventional fuels resulting in demand for alternatives, and increasing government initiatives on the use of bio-based fuels.

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Palm Methyl Ester Market Scope:

By Application:

Fuels
Lubricants
Solvents
Metal Working Fluids
Surfactants
Others

By End-Use Industry:

Automotive
Personal and home care
Food and agriculture
Industrial
Chemicals
Others

By Region:

North America
Western Europe
Eastern Europe
Asia a Pacific
Middle East
Rest of the world

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109,
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.