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
Buy Now Report ID: 4387 | Published Date: Feb 13, 2023
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 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.
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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.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2033) |
~ USD 3 Billion |
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Regional Scope |
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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
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 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.
The 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 2033, 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.
Our in-depth analysis of the global methyl oleate 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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Archer Daniels Midland Company
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Rapid growth of chemical industry and growing paint industry are the major factors driving the growth of the methyl oleate market.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.
Ans: High cost and use of ethyl oleate are the challenges affecting the market growth.
Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Archer Daniels Midland Company, 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, and Wilmar International Limited.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by source, grade, application, and by region.
Ans: The agrochemicals segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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