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CHEMICALS AND ADVANCED MATERIALS

Methyl Oleate Market Analysis by Source (Palm Oil, Canola Oil, Soyabean Oil, and Others); by Grade (Methyl Oleate 99% Purity, and Methyl Oleate 70% Purity); and by Application (Printing Inks, Agrochemicals, Metal Working Fluids, Cleaning Chemicals, Lubricants, Absorbents, Plasticizers, Cosmetics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Stepan Company introduced STEPOSOL ME a naturally derived methyl oleate from soyabean oil. This product was approved for use as an insert ingredient under U.S EPA 40 CFR 180.910 with REACH registered. Also, exhibit thaw stability, excellent freeze, and opt for solvents or co-solvents in agricultural applications.

Global Methyl Oleate Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

 ~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 3 Billion

The global methyl oleate market is estimated to garner a revenue of USD 3 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 2 Billion in the year 2022. The increase in the use of methyl oleate as a substitute for methylbenzene in the pesticide industry is expected to have a positive impact on market growth. Further, the rise in the pesticide industry is attributed to market growth. The national estimates for pest control workers are about 85,370 employment available in 2021 in the U.S, as per the U.S. Bureau of Labor Statistics.

Methyl-Oleate-Market-Size

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Also, increase use in the petroleum industry as a lubricant is estimated to boost the market growth. It is reported that 99.4 million barrels of petrol and liquid fuel were consumed per day around the world as of 2022.

Global Methyl Oleate Market: Growth Drivers and Challenges

Growth Drivers

  • Rapid Growth of the Chemical IndustryThe 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 market.  The total industrial production in 2022 raised from 0.6% to 3.9%.

  • Increasing Demand for Food and Beverages11.9% 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 IndustryThe total number of paint and coating establishments in the U.S in 2020 was 50,000.
  • Increase Use of Personal Care and Cosmetic ProductsThe average annual expenditure on personal care products raised from 762 in 2017 to 786 in 2019

Challenges

  • High Cost of Methyl Oleate
  • Increase Use of Ethyl Oleate
  • Industries Still Use Conventional Chemicals

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 2033 on the back of increasing use in metal working 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.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Methyl Oleate Market Regional Synopsis

Regionally, the global methyl oleate market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033 owing to stringent regulations on the use of synthetic chemicals. 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.

Methyl-Oleate-Market

The global methyl oleate market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global methyl oleate market includes the following segments:

By Source

  • Palm Oil
  • Canola Oil
  • Soyabean Oil
  • Others

By Grade

  • Methyl Oleate 99% Purity
  • Methyl Oleate 70% Purity

 

By Application

 

  • Printing Inks
  • Agrochemicals
  • Metal Working Fluids
  • Cleaning Chemicals
  • Lubricants
  • Absorbents
  • Plasticizers
  • Cosmetics
  • Others

 

Top Featured Companies Dominating the Global Methyl Oleate Market

  • Archer Daniels Midland Company 
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Tokyo Chemical Industry Co., Ltd.
  • Lion Corporation
  • KLK OLEO
  • Croda International Plc
  • acme synthetic chemicals 
  • Tri-Tech Chemical Company
  • Hebei Jingu Plasticizer Co., Ltd.
  • Victorian Chemical Company Pty Ltd
  • Wilmar International Limited

 

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