Methyl myristate market
Methyl Myristate Market, By Types (Industrial Grade, Food Grade, Cosmetics Grade, and Others), By Application (Personal Care & Cosmetics, Food, Lubricant & Additives, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) -
- Mar 2023
- CMI5576
- 120 Pages
- Excel & Pdf
- Specialty and Fine Chemicals
The global methyl myristate market is projected to surpass US$ 26.69 Bn by the end of 2030, in terms of revenue, growing at CAGR of 4.27% during the forecast period (2023 to 2030).
Global Methyl Myristate Market- Drivers:
Growing demand for personal care and cosmetics
Nowadays, people are spending more money on personal care, hygiene, and cosmetic products, and this is driving the market growth. Myristic Acid, its salts and esters are used in eye makeup, soaps and detergents, hair care products, nail care products, shaving products, and other skin care products. Growing demand for hair care and skin care products is expected to boost global methyl myristate market growth.
Growing demand in chemical companies
Methyl Myristate is used in the production of cutting oils, defoamers, gear oils, jet lubricants, plasticizers, rolling oils, low-VOC (volatile organic compound) solvents, and metalworking fluids, solvents for inks and for paint removal, plasticizer alcohols, emulsifiers, stabilizers, resins, and flavorings. Growing demand in the automotive industry for the oils has significantly increased the demand for methyl myristate.
Figure 1. Global Methyl Myristate Market Revenue Share (%), By Region, 2022
Among region, Asia Pacific is expected to be the leading market for methyl myristate during the forecast period. The Asia Pacific region is a desirable investment location for the producers of methyl myristate due to the availability of low-cost labour and raw materials and rising local demand for methyl myristate. The governmental regulations in the Asia Pacific region regarding ban of plastic bags, and the global warming initiatives are boosting the global market growth.
Global Methyl Myristate Market- Restraints
Restrictions associated with the storage of Methyl Myristate
Methyl Myristate should be stored in a tightly closed containers in a cool and dry place, and it should be protected from light. If it is stored more than 24 months its quality gets affected. Thus restrictions associated with the storage and transport is hindering the global methyl myristate market. Companies providing specialized containers for the storage of methyl myristate.
Methyl Myristate Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 19.1 Bn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 4.27% | 2030 Value Projection: | US$ 26.69 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Procter & Gamble (P&G) Chemicals, CREMER, Wilmar, VVF Ltd., KLK OLEO, Inoue Perfumery MFG, Wuhan Yuancheng Gongchuang, Changsha Jianglong Chemicals, Godrej Industries. |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Methyl Myristate Market- Trends
Increasing demand for food flavoring and additives agents
Methyl Myristate is a white colored solid substance, and is insoluble in water. It has waxy honey like odor and is used in food &beverages industry as a flavoring agent, food additive, and as a fragrance agent. Growing demand for luxury food and life style are one of the trends in the market that is increasing demand for methyl myristate. Nowadays, cosmetics has become an indispensable feature of the modern lifestyle of every individual. Moreover, development of people's internal intelligence, and their growing awareness of beauty is boosting usage of cosmetics in the international market. Currently, males use cosmetics more frequently in their everyday lives than women, this leads to increasing demand for cosmetics in the global market, and this increases demand for methyl myristate. All these factors including altering lifestyles is expected to drive the global methyl myristate market growth.
Figure 2. Global Methyl Myristate Market Revenue Share (%), By Types, 2022
Among Types, cosmetics grade segment is projected to lead the market of methyl myristate during the forecast period, accounting for 36.80% of market revenue share.
Global Methyl Myristate Market - Impact of Coronavirus (COVID-19) Pandemic
Methyl Myristate is mainly used in the automotive industry and in foods as a flavoring agent, food additive, fragrance agent, and as additive in the lubricant in automotive industry. Due to pandemic (Covid-19) the end- use industries are heavily affected. Logistical restrictions, lockdown and shutting down of the hotels and restaurants has slowed down the industries growth during the pandemic.
Competitive Section
Major players operating in the global methyl myristate market include Procter & Gamble (P&G) Chemicals, CREMER, Wilmar, VVF Ltd., KLK OLEO, Inoue Perfumery MFG, Wuhan Yuancheng Gongchuang, Changsha Jianglong Chemicals, and Godrej Industries.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Types
- Market Snippet, By Applications
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER’s Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trends
- Mergers and Acquisitions
- Market Dynamics
- Global Methyl Myristate Market- Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting Global Methyl Myristate Market–COVID-19
- Impact Analysis
- Global Methyl Myristate Market, By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Introduction
- Market Share Analysis, 2023, 2025, and 2030 (%)
- Y-o-Y Growth Analysis, 2017-2030
- Segment Trends
- Industrial Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Food Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Cosmetics Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Introduction
- Global Methyl Myristate Films Market, By Application, 2017-2030, (US$ Bn & Kilo Tons)
- Introduction
- Market Share Analysis, 2023, 2025, and 2030(%)
- Y-o-Y Growth Analysis, 2017-2030
- Segment Trends
- Personal Care & Cosmetics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Food
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Lubricant & Additives
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030 (US$ Bn & Kilo Tons)
- Introduction
- Global Methyl Myristate Market, By Region, 2017-2030, (US$ Bn & Kilo Tons)
- Introduction
- Market Share Analysis, By Region, 2023, 2025, and 2030(%)
- Y-o-Y Growth Analysis, For Region, 2017-2030
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Market Size and Forecast, and Y-o-Y Growth By Application, 2017-2030, (US$ Bn & Kilo Tons)Market Size and Forecast, and Y-o-Y Growth By Country, 2017-2030, (US$ Bn & Kilo Tons)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Market Size and Forecast and Y-o-Y Growth, By Application, 2017-2030, (US$ Bn & Kilo Tons)Market Size and Forecast, and Y-o-Y Growth By Country, 2017-2030, (US$ Bn & Kilo Tons)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Market Size and Forecast, and Y-o-Y Growth By Application, 2017-2030, (US$ Bn & Kilo Tons)Market Size and Forecast, and Y-o-Y Growth By Country, 2017-2030, (US$ Bn & Kilo Tons)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Market Size and Forecast, and Y-o-Y Growth By Application, 2017-2030, (US$ Bn & Kilo Tons)Market Size and Forecast, and Y-o-Y Growth By Country, 2017-2030, (US$ Bn & Kilo Tons)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Types, 2017-2030, (US$ Bn & Kilo Tons)
- Market Size and Forecast, and Y-o-Y Growth By Application, 2017-2030, (US$ Bn & Kilo Tons) Market Size and Forecast, and Y-o-Y Growth By Country/Region, 2017-2030, (US$ Bn & Kilo Tons)
- GCC Countries
- Israel
- Rest of Middle East
- North Africa
- Central Africa
- South Africa
- Introduction
- Competitive Landscape
- Market Share Analysis
- Company Profiles
- Procter & Gamble (P&G) Chemicals
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- CREMER
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Wilmar
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- VVF Ltd.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- KLK OLEO
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Inoue Perfumery MFG
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Wuhan Yuancheng Gongchuang
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Changsha Jianglong Chemicals
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Godrej Industries
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Procter & Gamble (P&G) Chemicals
- Section
- References
- Research Methodology
- About us and Sales Contact
* Browse 16 market data tables* and 16 figures* on "Global Methyl Myristate Market”- Forecast to 2023-2030
Detailed Segmentation:
- Global Methyl Myristate Market, By Types:
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- Global Methyl Myristate Market, By Application:
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- Global Methyl Myristate Market, By Region:
- North America
- By Types
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- By Application
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- By Country:
- U.S.
- Canada
- By Types
- Europe
- By Types
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- By Application
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Types
- Asia Pacific
- By Types
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- By Application
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Types
- Latin America
- By Types
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- By Application
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Types
- Middle East & Africa
- By Types
- Industrial Grade
- Food Grade
- Cosmetics Grade
- Others
- By Application
- Personal Care & Cosmetics
- Food
- Lubricant & Additives
- Others
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- South Africa
- North Africa
- Central Africa
- By Types
- North America