Top 3 Drivers for the Global 9-Decanoic Acid Methyl Ester Market | Technavio

November 22, 2017

LONDON–(BUSINESS WIRE)–#9decanoicacid—Technavio
market research analysts forecast the global
9-decanoic acid methyl ester market to grow at a CAGR of more than
7% during the forecast period, according to their latest report.

The report further segments the global 9-decanoic acid methyl ester
market by application (the flavors and fragrance and pharmaceutical
industry) and by geography (APAC, Europe, North America, and ROW).

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global 9-decanoic
acid methyl ester market:

Increased demand for oleochemicals
Growing demand for esters in the flavors and fragrance industry
Increased production capacity of palm oil in APAC

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Increased demand for oleochemicals

Oleochemicals are directly obtained from plant and animal sources. Fatty
acids, fatty alcohols, fatty acid methyl esters, and glycerol are some
of the vital oleochemicals. Decanoic acid can be extracted from
renewable sources such as seed oil, animal fats, palm oil, coconut oil,
and kernel palm oil. About 10% of the decanoic acid is naturally
available in coconut oil, and nearly 5% of it can be obtained from palm
kernel oil. The chemicals that are directly obtained from petrochemical
sources release many hydrocarbons and volatile organic compounds (VOC).
This has led to agencies such as Environmental Protection Agency (EPA),
United Nations Environment Programme (UNEP), and World Nature
Organization (WNO) to encourage consumers to reduce the usage of
petrochemical products and choose biodegradable products.

According to Kurva Samba Sivudu, a lead analyst at Technavio for specialty
chemicals research, “There are strict government regulations
to restrict the use of petroleum-based products to protect the
environment. This will propel the demand for green chemicals such as
9-decanoic acid methyl ester. The 9-decanoic acid methyl ester is
usually used in the fragrance, pharmaceuticals, and personal care and
cosmetics industries owing to its fewer side-effects, zero VOC
emissions, and low pollution levels.”

Growing demand for esters in the flavors and fragrance industry

The flavors and fragrance industry is the major application segment of
the global market. The 9-decanoic acid methyl ester is utilized as an
artificial flavoring agent in food items such as jams, jellies, dairy
products, desserts, wines, and spices. Apart from this, it is also
extensively used in perfumes because of its pleasant fragrance.
Increased disposable income and changing consumer lifestyles, along with
the expansion of the food and beverage industry, are some of the most
significant factors contributing to the growth of the global
9-decanedioic acid methyl ester market.

The 9-decanoic acid methyl ester is commonly used as an additive and as
an artificial flavoring agent in the food and beverage industry. This is
because the methyl ester is extracted from natural sources. The
9-decanoic acid methyl ester is obtained through the transesterification
process. Palm oil, palm kernel oil, coconut oil, seed oil, and animal
fat are used as the basic raw materials in this process.

Increased production capacity of palm oil in APAC

Palm oil is a typical tropical oil that is produced in several APAC
countries such as Indonesia, Malaysia, and Thailand. Malaysia and
Indonesia produce approximately 85% of the total palm oil produced in
APAC. Sumatra and Kalimantan are predicted to have good palm oil
production capacity during the forecast period. Companies such as Wilmar
International and Musim Mas Holdings are the largest palm oil producers
in Indonesia. India is the largest palm oil importer in the APAC region
followed by China, and Pakistan.

“The price of palm oil is very less because of its high yield when
compared to other oils. An oil palm produces 10 times more oil than
soybean and around five times more than rapeseeds and coconuts. The palm
oil manufactured in APAC is the highest in terms of volume. It is used
to manufacture many products apart from methyl esters such as olein and
stearin,” says Kurva.

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