Methyl Palmitate Market: Global Industry Analysis and Forecast (2023-2029)

Methyl Palmitate Market size was valued at USD 2.31 Bn. in 2022 and the total Methyl Palmitate revenue is expected to grow at a CAGR of 5.2% from 2023 to 2029, reaching nearly USD 3.30 Bn.
Methyl Palmitate Market Overview:
Methyl palmitate (MP) are naturally occurring fatty acid ester reported as an inflammatory cell inhibitor. Methyl palmitate (PAME), a fatty acid ester of palmitic acid, is a muscarinic receptor antagonist. Methyl palmitate functions as a vasodilator and relaxes the arterioles in the retina upon electrical depolarization. In the superior cervical ganglion, methyl palmitate modulates nicotinic receptors. Endogenous methyl palmitate modulates nicotinic receptor-mediated transmission in the superior cervical ganglion.

Methyl palmitate has been widely used as a standard to determine retention indices (RIs) using a gas chromatograph-mass spectrometer and to examine the influence of cerebral blood flow using laser doppler flowmetry (LDF) tests. In addition, Methyl Palmitate is increasingly being used as a raw material in the production of detergents, emulsifiers, wetting agents, stabilizers, resins, lubricants, plasticizers, and animal feeds. Rising demand from various end-users is driving the Methyl Palmitate market during the forecast period. However, increased Methyl Palmitate penetration in Pharmaceuticals for Liver Cancer Treatment opens up significant potential for the Methyl Palmitate market.To know about the Research Methodology :- Request Free Sample Report
Methyl Palmitate Market Dynamics:
High demand for Methyl Palmitate as a raw material across various industries

Methyl Palmitate is widely utilized in a variety of sectors as a raw ingredient for emulsifiers or oiling agents for meals, spin finishes, textiles, plastic lubricants, paint and ink additives, surfactants, and basic materials for fragrance. They are also utilized as solvents or cosolvents, as well as oil carriers, in the agricultural business. The rising demand for Methyl palmitate from various industries is expected to drive the Methyl Palmitate market. In rats, methyl palmitate acts as an anti-inflammatory and anti-fibrotic drug, preventing bleomycin-induced lung inflammation and fibrosis. Due to this, methyl palmitate is widely used in laboratories for experiments done on rats. In addition, it also prevents carbon tetrachloride-induced liver fibrosis linked to reducing transforming growth factor beta, which is a secreted protein that controls proliferation, cellular differentiation, and other functions in most cells.

Increasing demand for Methyl Palmitate as Naturally Occurring Cardioprotective Agent

Cardioprotective agents are substances that protect the heart and reduce the risk of cardiotoxicity. Natural products' cardioprotective benefits have recently received a lot of attention. As Methyl palmitate (MP) is a naturally occurring methyl ester it is widely used as a naturally occurring cardioprotective agent across the pharmaceutical industries and driving the Methyl Palmitate industry size in the pharmaceutical sector.

MP demonstrated anti-inflammatory action as shown by decreased production of pro-inflammatory cytokines and increased expression of anti-inflammatory cytokines. Additionally, MP demonstrated anti-apoptotic action as revealed by increased anti-apoptotic protein expression and decreased pro-apoptotic protein expression. Thus, MP has significant cardioprotective benefits due to its antioxidant, anti-inflammatory, anti-apoptotic, anti-fibrotic, and vasodilatory capabilities. Because of these qualities, the industry revenue is expected to grow substantially throughout the forecast period.

Market Opportunities:

Rising penetration of Methyl Palmitate in Pharmaceuticals for Liver Cancer Treatment

Liver cancer is the world's second leading cause of cancer-related mortality. Hepatocellular carcinoma (HCC) has a high recurrence rate and a low survival rate (20%). Natural vegetable oil fatty acid methyl esters with high anti-oxidant properties may be useful in decreasing chemotherapy-induced damage in vivo and providing neuroprotective benefits. One such methyl ester is Methyl Palmitate (MP), which has hepatoprotective, anti-fibrotic, and anti-inflammatory properties. Many medicinal plants with MP as their main constituent have anti-cancer and antioxidant properties. MP may have reduced cyclophosphamide-induced cardiotoxicity in vivo and lowered oxidative stress. The combination of Methyl Palmitate with Sorafenib enhanced Sorafenib's anti-cancer actions by boosting cytotoxicity, inducing apoptosis, and reducing the migration of Hep-G2 cells. As a result, demand for Methyl Palmitate is rapidly increasing in the Healthcare sector, driving the Methyl Palmitate market during the forecast period.
Methyl Palmitate Market Segment Analysis:
Increasing demand for the Biofuel segment to drive the Methyl Palmitate Market Growth

The Biofuel segment dominated the Methyl Palmitate market with the largest share in 2022 and is expected to grow at a CAGR of 4.8% during the forecast period. Methyl palmitate (MP) is a naturally occurring fatty acid ester that has been reported to decrease inflammatory cell growth. Biodiesels derived from fatty acid esters (renewable sources) are more environmentally friendly. Biodiesel is less harmful and emits fewer greenhouse emissions than petroleum fuel. They can be used in their pure form (B100) or combined with petro-diesel as B2 (2% biodiesel, 98% petroleum diesel) or B5 (5% biodiesel, 95% petroleum diesel). They can also be used as B20 and B100. Biodiesel is utilized as-is in certain circumstances (B100), mostly by large trucking enterprises.

Biodiesel has also assisted numerous nations in reducing their reliance on foreign oil reserves since it is manufactured domestically and can be used in any diesel engine with little or no modification to the engine or fuel system. Biodiesel, an environmentally beneficial alternative to gasoline, has become increasingly important, particularly since pollution levels have beyond permissible levels. The biofuel (biodiesel) industry is expected to grow at a fast pace due to its additional benefits and safety, which would greatly raise demand for Methyl Palmitate natural fatty acid esters and drive market growth.

The North American area has one of the largest aircraft markets, as well as a well-established land transportation system that is predominantly powered by fossil fuels. North America has been at the forefront of reducing emissions to mitigate the greenhouse effect. Biofuels, comprising biogasoline and biodiesel, generated approximately 623 thousand barrels of oil equivalent per day in the North American area in 2020. Additionally, the United States utilized 454 thousand barrels of oil equivalent per day in 2020, accounting for nearly half of global bio-gasoline demand.

The countries in the region consider policies that help in the rapid adoption of biofuels in the region. In January 2022, the US Environmental Protection Agency announced a new initiative for streamlining the review of biofuels and chemicals that can play a major role in replacing higher GHG-emitting fossil fuels providing a major push to the biofuels market. Similarly, in Canada, the government is aiming for increased carbon taxes by CAD 10 to CAD 50 per tonne of emissions from April 2022, thereby pushing for wider adoption of biofuels that emit less GHG. As a result, the demand for Biofuel increases the demand for Methyl Palmitate and eventually increases the Methyl Palmitate market size.
Methyl Palmitate Market Regional Insights:
APAC market held the largest market share of about 38% and dominated the Methyl Palmitate market in 2022. The region is further expected to maintain its dominance throughout the forecast period due to the high consumption of Methyl Palmitate in personal care & cosmetics products. Rising industrial production and population growth, particularly in China, India, and Southeast Asia, particularly driven the region's manufacturing and food processing industries. As a result, natural and sustainable materials with application-specific qualities are in high demand. The Asia-Pacific area is home to the largest global producers of Methyl palmitate (MP) fatty acid esters. Handan Shijia Chemical Technology Co., Ltd. (China), Veeprho (India), Acme synthetic chemicals (India), Tokyo Chemical Industry Co., Ltd. (TCI) (Japan), and others are among the top manufacturers of Methyl palmitate (MP) fatty acid esters.

Asia-Pacific is the world's largest oil and fat producer and raw material source for oleochemicals, with more control over oleochemical production and distribution. In the current context, China is by far the greatest user of lubricants. The extensive manufacturing operations of various sectors, as well as the fast rise in the industrial and automotive sectors, have driven the country to the center of the landscape's main consumers and producers. The rate of consumption is expected to remain the same in the country, irrespective of the economy witnessing slow growth.

Besides that, India is ranked third in terms of pharmaceutical production volume and 14th in terms of pharmaceutical production value. The domestic pharmaceutical sector is comprised of 3,000 pharmaceutical businesses and 10,500 production units. In FY21, India's medicine and pharmaceutical exports were USD 24.44 billion. India is the world's 12th largest exporter of medical goods. The pharmaceutical industry accounts for 6.6% of overall merchandise exports in the country. As a result of these factors, the Asia-Pacific region is expected to dominate the market during the forecast period.

The North American market is expected to be the fastest-growing market during the forecast period. Rising environmental and health concerns are driving up the demand for natural components and cosmetic products. Increased standards of living and increasing focus on appearance, beauty, and grooming due mainly to social media influence, changing perceptions of customers, and making the transition promotional methods by major personal care companies are expected to drive product demand in this region.
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Methyl Palmitate Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.31 Bn.


Forecast Period 2023 to 2029 CAGR:
5.2%
Market Size in 2029:
US $ 3.30 Bn.


 Segments Covered:
by Type
• Purity99
• Purity98.5
• Purity98
• Purity97


by Source
• Palm Oil
• Coconut Oil
• Sunflower Oil
• Olive Oil
• Peanut Oil
• Others Vegetable Oils


by Application
• Detergents
• Emulsifiers
• Wetting Agents
• Stabilizers
• Plasticizers
• Biofuel



Methyl Palmitate Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Methyl Palmitate Market, Key Players are:
• Merck KGaA (Germany)
• Handan Shijia Chemical Technology Co.,ltd (China)
• Thermo Scientific (US)
• Veeprho (India)
• Glentham Life Sciences (United Kingdom)
• Acme synthetic chemicals (India)
• CYMIT QUÍMICA S.L. (Spain)
• Eucerin
• Acme-Hardesty (US)
• Alfa Aesar, Hebei Jingu Group
• Anhui Fengyuan Bio-Energy
• Haiyan Fine Chemical
• CiteAb (United Kingdom)
• Spectrum Chemical Mfg. Corp (US)
• Tokyo Chemical Industry Co., Ltd. (TCI) (Japan)

FAQs:

1. What is the major growth driver for the Methyl Palmitate market?
Ans. Growing demand for Methyl Palmitate as a raw material in the production of detergents, emulsifiers, wetting agents, stabilizers, resins, lubricants, plasticizers, and animal feeds is expected to be the major driver for the market growth.

2. What is the lucrative opportunity for the Methyl Palmitate market growth?
Ans. The Rising penetration of Methyl Palmitate in Pharmaceuticals for Liver Cancer Treatments is expected to be a lucrative opportunity for the Methyl Palmitate market growth.

3. Which region is expected to lead the global Methyl Palmitate market during the forecast period?
Ans. The Asia-Pacific market is expected to lead the global Methyl Palmitate market during the forecast period due to the high consumption of Methyl Palmitate in personal care & cosmetics products. In addition rising industrial production and population growth, particularly in China, India, and Southeast Asia, particularly driven the region's manufacturing and food processing industries.

4. What is the projected market size & growth rate of the Methyl Palmitate Market?
Ans. The Methyl Palmitate Market size was valued at USD 2.31 Bn. in 2022 and the total Methyl Palmitate revenue is expected to grow at a CAGR of 5.2% from 2023 to 2029, reaching nearly USD 3.30 Bn.

5. What segments are covered in the Methyl Palmitate Market report?
Ans. The segments covered are Type, Source, Applications, and Region in the Methyl Palmitate Market report.