Methyl Oleate Market size was over USD 2.1 Billion in 2023 and is expected to exceed USD 4.07 Billion by the end of 2036, witnessing over 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of methyl oleate is evaluated at USD 2.2 Billion. The rise in the pesticide industry is attributed to market growth along with the increasing use of methyl oleate as a substitute for methylbenzene in the pesticide industry is expected to have a positive impact on market growth. The national estimates for pest control workers are about 85,370 employees available in 2021 in the United States, as per the U.S. Bureau of Labor Statistics.
The growing chemical industries as well as the increased use of methyl oleate in the petroleum industry as a lubricant along with the rising consumption of petroleum products is estimated to boost the market growth.
Growth Drivers
Rapid Growth of the Chemical Industry - The increasing use of chemicals by other industries fuels the growth of the chemical industry. Also, the high price of chemicals and closure of many plants across China, and high inflation during the pandemic are estimated to boost the methyl oleate market. The total industrial production in 2022 raised from 0.6% to 3.9%.
Increasing Demand for Food and Beverages - 11.9% of U.S household consumer expenditures share was occupied by food ranking third in 2020.
High Demand for Detergent Surfactants Such as Methyl Ester Ethoxylates - The value of detergents and washing preparations increased from 99.5 in 2009 to 111.3 in 2019.
Growing Paint Industry – The total number of paint and coating establishments in United States in 2020 was 50,000.
Increase Use of Personal Care and Cosmetic Products - The average annual expenditure on personal care products raised from 762 in 2017 to 786 in 2019
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.2% |
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Base Year Market Size (2023) |
USD 2.1 Billion |
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Forecast Year Market Size (2036) |
USD 4.07 Billion |
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Regional Scope |
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Application (Printing Inks, Agrochemicals, Metal Working Fluids, Cleaning Chemicals, Lubricants, Absorbents, Plasticizers, Cosmetics)
The global methyl oleate market is segmented and analyzed for demand and supply by application into printing inks, agrochemicals, metal working fluids, cleaning chemicals, lubricants, absorbents, plasticizers, cosmetics, and others. Out of these, agrochemicals are anticipated to hold the largest market size by the end of 2036 on the back of increasing use in metalworking fluids and agrochemicals such as pesticides, herbicides, plant growth chemicals, and weedicides. The worldwide exported value of herbicides, anti-sprouting products, and plant growth regulators in 2021 was 15,432,371.
Our in-depth analysis of the global market includes the following segments:
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By Source |
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By Grade |
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By Application |
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North American Market Forecast
North America methyl oleate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036, owing to stringent regulations on the use of synthetic chemicals owing to their ill effects on health and the environment. FDA removed 7 synthetic flavoring substances and flavor enhancers in 2018. Among them, 6 substances are ethyl acrylate, methyl eugenol, pulegone, pyridine, synthetically derived benzophenone, and myrcene.
Archer Daniels Midland Company
Author Credits: Rajrani Baghel
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