Methyl Oleate Market Trends

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

• High Cost of Methyl Oleate – owing to the rising prices of chemicals globally. The disadvantage is associated with the large amount of energy required in the reboiler to purify the mixture is expected to hinder market growth in the near future.
• Increasing Use of Ethyl Oleate
• Industries Still Use Conventional Chemicals