The global chemical industry is expanding quickly, which is driving up demand for methyl oleate. The value of the global market for methyl oleate was predicted to reach approximately US$ 1.8 billion in 2022. While methyl oleate is increasingly used in a variety of products, including agrochemicals, lubricants, plasticizers, and cosmetics, it is expected that global sales will increase overall between 2022 and 2032 at a moderate CAGR of around 4.5%, reaching about US$ 2.45 billion.
Methyl oleate is a fatty ester derivative, methyl ester derived from canola, soybean canola and other vegetable oils. Methyl oleate is used for a wide range of applications including, bio-fuel, agrochemicals, lubricants, cleaners, metal working fluids, oiling agent for textile, solvents and personal care and cosmetics products. Methyl oleate is formed by the condensation of carboxy group of oleic acid with methanol.
Methyl oleate is also predominantly used as a chemical for the production of ester based detergent surfactants such as sulphonated methyl esters (SME), methyl ester ethoxylates (MEE), alkanolamides amongst others. Methyl oleate is known by alternate names such as Methyl Cis-9-octadecenoic acid, Oleic Acid Methyl Ester, Methyl Cis-9-Octadecenoate, Methyl Ester of Oleic Acid.
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Owing to numerous benefits such as good solvency properties, methyl oleate can be used as replacement for various hydrocarbon solvents. Methyl oleate is used as a substitute product for methyl benzene, dimethyl benzene, and solvent oil predominantly in the pesticide application. Methyl Oleate is widely being preferred owing to its low toxicity and environmental friendly properties. There has also been rise in demand for methyl oleate in the metal working industry both as lubricants and as cleaning agents and degreasers.
Global Methyl Oleate Market Dynamics
Global Methyl Oleate Market Drivers
As methyl oleate is obtained from natural sources, these products are relatively more preferred over the synthetically derived alternatives. One of the prominent factors driving the demand for methyl oleate market is its increasing use as eco-friendly alternative used in pesticide formulations. Methyl oleate is used as a substitute for methylbenzene in the pesticide industry. It is also being used as an oil carrier and co-solvent in the agriculture industry. The growth of methyl oleate market is also being governed by the increasing demand from the paints coatings and inks application. Methyl oleate is used as a defoamer and solvents for inks and coatings and as tar remover.
As methyl oleate is derived from bio based sources therefore it has low toxicity and poses low health and risk for end users. As methyl oleate is readily bio degradable, this becomes a major factor for the growth of the market demand.
Global Methyl Oleate Market Restraints
The use of other oleate esters such as ethyl oleate is expected to restrain the market demand for methyl oleate over the forecast period. The easier availability of the chemical alternatives in pesticides, metal working industry and other application has resulted in the prevalent use of the conventionally used chemicals. The cost for methyl oleate is also a major challenge for the global methyl oleate manufacturers
Global Methyl Oleate Market Trends
Methyl oleate is used as a breeding bacterium liquid. Methyl oleate is used to produce antibiotic bacterium and is used as nutrient solution. Methyl oleate is also being used as non-fluorescing slurry lubricant to improve the absorbability and wettability of the slurry to reduce adhesion and achieve desired characteristics. Methyl oleate is also being used to make cosmetics, detergents and specialty lubricants and textile assistants.
Methyl oleate is derived from bio based sources, manufacturers are also focusing on the development of methyl oleate through alternative production methods to improve yield, efficiency and output.
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Global Methyl Oleate Market Participants
Some of the market participants identified across the value chain of global Methyl Oleate market are:
- KLK OLEO
- Tokyo Chemical Industry Co., Ltd.
- Acme Synthetic Chemicals
- Hebei Jingu Plasticizer Co., Ltd.
- Wilmar International Ltd.
- Lion Corporation
- Hebei Jingu Grease Technology Co .Ltd
- VICTORIAN CHEMICAL CO. PTY. LTD.
- TRI-TECH CHEMICAL COMPANY Pty Ltd.
- Croda International Plc
Global Methyl Oleate Market Segmentation
By Source:
- Palm Oil
- Canola Oil
- Soyabean Oil
- Others
By Grade:
- Methyl Oleate 99% Purity Grade
- Methyl Oleate 70% Purity Grade
By Application:
- Printing Inks
- Agrochemicals
- Metal Working Fluids
- Cleaning Chemical
- Lubricant
- Absorbent
- Plasticizer
- Cosmetics
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