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Future-Proofing Palm Methyl Ester Derivatives: Market Size, Industry Share, 2033 Forecast || Wilmar International Limited, The Procter & Gamble Company, Carotino Sdn Bhd
Palm Methyl Ester Derivatives Global Market Report 2024
The Business Research Company presents an extensive market research report on the Palm Methyl Ester Derivatives Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The palm methyl ester derivatives market size has grown strongly in recent years. It will grow from $3.66 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rise in biodiesel production, environmental regulations, volatility in crude oil prices, global expansion of palm oil production, consumer awareness of sustainable products, shift toward green chemistry..
The palm methyl ester derivatives market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to biojet fuels development, global push for carbon neutrality, global energy security concerns, policy support for biofuel industries, emergence of advanced biofuels.. Major trends in the forecast period include investments in green technologies, focus on product innovation, collaborations and partnerships, technological advancements in biodiesel processing, advancements in conversion technologies..
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Key Market Players:
Major companies operating in the palm methyl ester derivatives market report are Wilmar International Limited, The Procter & Gamble Company, Carotino Sdn Bhd, KLK OLEO Group of Companies, Musim Mas Holdings Pte. Ltd., Emery Oleochemicals Group, Hebei Jingu Plasticizer Co. Ltd., CREMER Oleo GmbH & Co. KG, PT Ecogreen Oleochemicals, VVF Limited Liability Company, Timur Oleochemicals Malaysia Sdn Bhd, Pacific Oleochemicals Sdn Bhd, Godrej Industries Limited, Cargill Incorporated, PTT Global Chemical Public Company Limited, PT Sinar Mas Agro Resources and Technology Tbk, Peter Cremer North America LP, Asian Agri Group, Apical Group Ltd., IOI Loders Croklaan Group, Kao Corporation, Vantage Specialty Chemicals Inc., Twin Rivers Technologies - Specialties LLC, Oxiteno USA LLC, Procter & Gamble Chemicals, Kuala Lumpur Kepong Berhad, Oleon NV, Croda International plc, Chemical Associates Inc.
Market Drivers:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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