Sarasota, FL, Dec. 29, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Palm Methyl Ester for Bio-fuel, Food, Lubricants, Surfactants, Agriculture, Solvents, Polymers, Metal Working Fluids, and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global demand for palm methyl ester market was valued at over USD 4.56 billion in 2015, is expected to reach above USD 6.45 billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.10% between 2016 and 2021.
Palm methyl ester is aliphatic organic esters derived from palm oil. Palm oil is first cut down to methyl ester with methanol as a catalyst. As it is not possible to use palm oil directly owing to its high viscosity, they are converted to palm methyl esters. Palm methyl ester is the base material for bio fuels and can be used as lubricants in the automotive sector.
Browse through 10 Market Tables and 16 Figures spread over 110 Pages and in-depth TOC on “Global Palm Methyl Ester Market: Type, Size, Share, Trends, Review, Analysis, Segment and Forecast 2015-2021”.
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Palm methyl ester is widely used as solvents, polymers, surfactants in agriculture, paint and coating industry, plasticizers industry. Palm methyl ester is environmental friendly and cost efficient. Therefore increasing demand for palm methyl ester in bio fuel industry is expected to drive the market for palm methyl ester market in coming years. Environmental agencies had imposed various stringent regulations over the use of conventional fuel is likely to strengthen the growth of palm methyl ester market in the forecast period. However, issues such as deforestation for plantation of palm may barricade the growth of the palm methyl ester market. Nonetheless, ongoing research for the innovating novel product line is anticipated to impel the growth of the palm methyl ester market in the forecast period. Moreover, growing demand from the food industry for the palm methyl ester market is likely to offer new opportunities in the coming years.
There are numerous applications of palm methyl ester such as bio-fuel, food, lubricants, surfactants, agriculture, solvents, polymers, metal working fluids and others. Among all, lubricants segment dominated the palm methyl ester market with significant market share in 2015. Palm methyl ester is extensively used as the lubricant in automotive, fibers, transformers, biodegradable lubes and hydraulic fluid. Palm methyl ester are also used as emulsifiers in the food industry and as solvents in the agricultural industry for attaining better adhesion in an eco-friendly and sustainable manner which radically contributes in the growth of palm methyl ester market.
Browse the full "Palm Methyl Ester for Bio-fuel, Food, Lubricants, Surfactants, Agriculture, Solvents, Polymers, Metal Working Fluids, and Others: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/palm-methyl-ester-market
Asia Pacific clutched the palm methyl esters in 2015 and is likely to maintain its pace in the coming years. India is one of the largest consumers for palm methyl esters owing to high usage of palm methyl esters in automotive, paint and coating and food industry. Moreover, the huge trend of bio diesel in India owing to various initiatives by the Indian government is anticipated to reinforce the palm methyl ester market in the forecast period. Furthermore, growing automotive and coating industry in Asia Pacific is expected to exhibit enormous growth for palm methyl ester market in coming years.
Europe was the second largest palm methyl ester market in 2015 and is predicted to witness significant growth over the forecast period. Stringent regulations imposed by European government on conventional fuel is expected to promote the massive growth of bio fuel market which will further result in the enormous growth of palm methyl ester market in coming years. Ongoing research for innovating novel products using palm oil in Europe is likely to experience productive growth for palm methyl ester market in the forecast period.
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North America accounted for beneficial market growth for palm methyl ester in 2015. Stringent rules imposed by North American government for use of eco-friendly coating due to the high impact of conventional coating on the environment has led to the high usage of the eco friendly coating. This factor is expected to boost the demand for palm methyl ester market in North America in the coming years.
Latin America, Middle East, and Africa are likely to experience upright growth over the forecast period. This is mainly attributed to the growing urbanization and industrialization in Brazil. Brazil attained highest sales of automobiles and stood as the seventh largest producer across the globe. Therefore, this factor is expected to trigger the growth of automotive market which in turn will bolster the growth of palm methyl ester market. Escalating agricultural industry in the Middle East and Africa is anticipated to witness gleam growth for palm methyl ester market. Moreover, there is a huge plantation of palm trees in Africa which is expected to assist the growth of palm methyl ester market in coming years.
Some of the global major players in the palm methyl ester are OnBiz Enterprise, PG Worldwide Trade SDN BHD, Pure Diesel Co. Ltd., RITS, Bioinvent Sdn Bhd., LOL Oleochemicals Sdn. Bhd., International Source, AM Biofuels Sdn Bhd., Natural Fuel PTE Ltd., Green and Natural Sdn Bhd., Agricode Bio-Technology Pte Ltd., and Alternative Fuels Holdings Sdn Bhd among others.
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This report segments the palm methyl ester market as follows:
Palm Methyl Ester Market: Application Analysis
- Bio-fuel
- Food
- Lubricants
- Surfactants
- Agriculture
- Solvents
- Polymers
- Metal Working Fluids
- Others
Palm Methyl Ester Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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