PALM METHYL ESTER MARKET ANALYSIS

Regional Analysis

Market Outlook

On the basis of region, the global palm methyl ester market is segmented into North America, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific held dominant position in the palm methyl ester market, followed by Europe and Middle East & Africa. The market in Asia Pacific is expected to witness high growth in the near future, owing to introduction of biodiesel policy in India and various initiatives taken by regional government to promote use of biodiesel as a fuel in passenger vehicles over diesel.

Increasing product base in food applications is expected to significantly drive growth of the Middle East & Africa palm methyl ester market over the forecast period. Moreover, in Europe, as palm methyl ester meets the European standards for biodiesel, it is widely accepted as biodiesel in the region. Also, it has been successfully evaluated as a diesel alternate in summer and with an additive in winter due to its poor cold-flow properties.