The global palm methyl ester market is anticipated to grow at a CAGR of around % during the forecast period (2021-2027). Asia-Pacific region is projected to show the fastest growth in the global palm methyl ester market during the forecast period. Major economies in the Asia-Pacific region such as China, India, Malaysia have implemented biodiesel policies to ensure air quality and energy security. For instance, in India, in October 2007 the National Policy on Biofuels had proposed an announcement regarding ethanol production along with an indicative target of 20% blending of biofuels both for bio-diesel and bio-ethanol. The policy offers farmers and cultivators a minimum support price for non-edible oil seeds, as well as a minimum purchase price for fuel. Additionally, compulsory fuel blending in Indonesia, Thailand, Malaysia, and China are further offering lucrative opportunities for palm methyl ester producers across the region. As per the above source, the National Policy on Biofuels also set a uniform price of INR21.50 (USD0.35) per liter for ethanol. Since October 2007, 5% blending of ethanol with petrol has been mandatory, increasing to 10% from October 2008.
Browse the full report description of “Global Palm Methyl Ester Market Size, Share & Trends Analysis Report By Derivatives Type (Methyl Linoleate, Methyl Laurate, Methyl Palmitate, Methyl Caprylate, Methyl Myristate, Methyl Oleate, and Others) By Application (Agriculture, Lubricants, Solvents, Polymers, Fuel, Food, and Others) Forecast 2021-2027” at https://www.omrglobal.com/industry-reports/palm-methyl-ester-market
Moreover, the supportive government biofuel subsidies in China is another prominent factor, manufacturing companies are adopting biofuel in place of non-renewable fuels. According to government data commissioned by the GSI, China provided a total of $115 million, roughly $0.40 a liter in biofuel subsidies. Besides, as per the Indonesian Biofuel Producers Association (APROBI), the region has produced around 3.62 million kiloliters (KL) of palm oil’s fatty acid methyl ester (FAME), the bio-content used in blending with fossil diesel fuel to make biodiesel in 2021. The FAME production helped the market to grow in the region.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Derivatives Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Agricode Bio-Technology Pte Ltd., BASF SE, Carotino Sdn. Bhd., LOL Oleochemicals Sdn. Bhd., P&G Chemical, Ruchi Soya Industries Ltd., TCI Chemicals (India) Pvt Ltd., Timur Oleochemicals Malaysia Sdn. Bhd., Univar Solution Inc., and Others.
• Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Palm Methyl Ester Market Report By Segment
• Global Palm Methyl Ester Market, By Derivatives Type
• Global Palm Methyl Ester Market, By Application
Global Palm Methyl Ester Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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