Press Release

Asia Pacific Palm Methyl Ester Market to Grow with a CAGR of 4.17% through 2028

Surge in research and development activities is expected to drive the Asia Pacific Palm Methyl Ester Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Asia Pacific Palm Methyl Ester Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Asia Pacific Palm Methyl Ester Market stood at USD1.85 billion in 2022 and is anticipated to grow with a CAGR of 4.17% in the forecast period, 2023-2028. The initiatives taken by government based on palm methyl ester has led to favorable market conditions for the Asia Pacific Palm Methyl Ester Market. Several factors contribute to the growth of various palm methyl ester market products.

The Indonesian government is actively planning to revamp its palm oil levy system in order to further support its biodiesel program. The new rules, which are currently under discussion, propose implementing a mechanism that would increase the levy when global palm oil prices reach a certain threshold. This strategic move is aimed at providing additional funding for the country's biodiesel initiatives, which heavily rely on palm methyl ester (PME) as a key component.

In addition to the government's efforts, the Indonesian Palm Oil Association (GAPKI) is seeking a comprehensive review of the existing export levy policies in case palm prices surpass 4000 RGT. This proactive initiative reflects the association's commitment to ensuring the long-term sustainability of the country's biodiesel blending rates, which heavily depend on the availability and affordability of PME.


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Research and development (R&D) initiatives have played a crucial role in driving significant advancements in the quality and efficiency of PME (Palm Methyl Ester) production. Through the implementation of advanced processing techniques, the purity levels of PME have been greatly improved, resulting in higher yields and making the production process more cost-effective.

Furthermore, extensive research has also led to the development of PME variants with enhanced properties. These variants exhibit improved oxidative stability, ensuring longer shelf life and enhanced performance in various applications. Additionally, the introduction of PME variants with lower pour points has expanded their suitability for a wider range of industries and environmental conditions.

These continuous improvements in PME production have not only enhanced its competitiveness in the market but have also significantly contributed to its overall growth and market demand. The ongoing commitment to research and development in this field continues to drive innovation and unlock new opportunities for the PME industry.

The Asia Pacific Palm Methyl Ester Market is segmented into derivative, application, regional distribution, and company.

Based on its derivative, the methyl oleate segment held the largest share in the market. The Asia-Pacific region, especially China, is renowned as a significant producer of methyl oleate, providing it with a distinct competitive advantage in the market. This dominance can be attributed to a combination of factors, including the region's abundant palm oil resources and its advanced processing capabilities. These key strengths have propelled the Asia-Pacific region to the forefront of the global methyl oleate market.

Moreover, the region's market dominance is reinforced by the escalating domestic demand for methyl oleate, particularly driven by the exponential growth of industries such as cosmetics and personal care in countries like China and India. As these industries continue to flourish, the demand for methyl oleate as a vital ingredient in their formulations experiences a parallel surge, further cementing the Asia-Pacific region's prominent position in the market.

Based on region, China segment is expected to grow during the forecast period.

One of the significant factors contributing to China's dominance in the market is the abundant availability of palm oil, which serves as the primary feedstock for PME production. Despite not being a major palm oil producer, China has positioned itself as one of the largest importers of palm oil on a global scale. This strategic move ensures a consistent and uninterrupted supply of raw materials, allowing China to maintain its leading position in the market, meet the growing demand for PME, and further solidify its foothold in the industry. With a reliable source of palm oil, Chinese manufacturers can continue to produce PME efficiently, meeting both domestic and international needs, and fueling the country's economic growth in this sector.

Major companies operating in Asia Pacific Palm Methyl Ester Market are:

  • Emery Oleochemicals Japan Ltd
  • Klk Oleo Sdn. Bhd.
  • Universal Biofuels Private Limited
  • Wilmar International Limited
  • Procter & Gamble Chemical Services Pte Ltd
  • Timur Oleochemicals Malaysia Sdn. Bhd.
  • Vance Bioenergy Sdn. Bhd.
  • Future Prelude Sdn. Bhd.
  • Carotino Sdn. Bhd.
  • BASF SE


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“Growing application of palm methyl ester in various end user industries are key drivers of the palm methyl ester market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of palm methyl ester with every passing year are anticipated to register an impressive growth to Asia Pacific Palm Methyl Ester Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Asia Pacific Palm Methyl Ester Market By Derivative (Methyl Linoleate, Methyl Laurate, Methyl Palmitate, Methyl Caprylate, Methyl Myristate, Methyl Oleate, and Others), By Application (Agriculture, Lubricants, Solvents, Polymers, Fuel, Food, and Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Asia Pacific Palm Methyl Ester Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Asia Pacific Palm Methyl Ester Market.


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