Scope of Application of Palm Methyl Ester Derivatives to Widen with Increasing R&D Activities

Rising awareness regarding merits of natural ingredients is triggering their usage in personal care and homecare products. This, in turn, is likely to escalate the adoption of palm methyl ester derivatives. Extensive research and development activities are further widening the scope of application of these derivatives.

What are ‘Palm Methyl Ester Derivatives’?

Palm methyl ester derivatives are oleochemicals processed from crude palm oil (CPO) and palm kernel oil (PKO). These products are being increasingly used in a wide range of applications, including detergents, soaps, food and additives, lubricants, paints and coatings, biofuels, and personal care products.

Use of Palm Oil in Biodiesel Fuel Mix

Growing popularity of eco-friendly products is encouraging research activities for the development of biodegradable products. These can be used as alternatives to petroleum-based products. This, in turn, is triggering a dependence on palm methyl ester derivatives. In future, demand for these derivatives is expected to surge with increasing demand for biofuels.

Molecules in biodiesel are primarily fatty acid methyl esters, which can be obtained from palm oil by transesterification. However, although there are many substitutes to palm oil, its cheap price makes it a preferred choice. In August 2017, the Federation of Philippine Industries (FPI) proposed the inclusion of palm oil in biodiesel fuel mix in addition to the existing coconut oil mixture. According to their study, adding palm oil to the fuel mix would help in cutting down the price of biodiesel.

Market Insights

Favorable government policies such as tax benefits and monetary benefits for bio-based chemical manufacturers are positively impacting the growth of the global palm methyl ester derivatives market. According to Grand View Research Inc., rising environmental and health concerns among consumers are also working in favor of the market. Increasing inclination toward process sustainability in personal care, food, homecare, and other verticals can augment the market.

Besides this, abundant availability of raw materials, especially from countries such as Malaysia and Indonesia, is likely to drive the market over coming years. On the flip side, palm oil production is also being considered one of the major culprits behind deforestation and peatlands clearance in these countries. This, in turn, is anticipated to inhibit market growth.

Some of the key players in the market are VVF, P&G Chemicals, Ecogreen Oleochemicals, Carotino Group, and Kao Corporation.

In-Depth research report on Palm Methyl Ester Derivatives Market:

http://www.grandviewresearch.com/industry-analysis/palm-methyl-ester-derivative-market