Palm Acid Oil Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031
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May 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Demand for Palm Acid Oil from 2015 to 2020 Vs. Future Market Projections for 2021-2031
From 2015 to 2020, sales of palm acid oil have increased at a stable rate, expanding at over 5% CAGR.
Palm Acid Oil (PAO) is distilled fatty acid used for bio-diesel feedstock, animal feeds, and soap making and is derived from Palm Oil Mill Effluent (POME). PAO is a by-product of palm oil derived from chemical refining and consists of FFA (over 50%) and neutral oil, with 2-3% moisture. It has similar properties to palm fatty acid distillate (PFAD), but its FFA is generally lower.
Europe manufactures palm acid oil on a large scale. In contrast, in APAC countries like Malaysia and Indonesia, palm oil manufacturers get the PFAD instead of the PAO since it is physically processed in the region. Palm Oil Mill Effluent (POME) is the most abundant waste by-product during CPO production. For each ton of CPO made, 2.9 tons of POME is created. POME is produced from large quantities of steam and hot water recycled to clean the fruit. The POME residue is collected on the mill floor from water that is directed from waste ponds. The produced POME consists of 95% to 97% water and 3% to 5% of palm acid oil. The PAO is processed and extracted from the POME, and the palm acid oil residue is brought into the market and sold as a feedstock to produce second-generation biofuels.
Global Palm Acid Oil Market Revenue Outlook:
The global palm acid oil market is valued at US$ 1.4 Bn in 2020 and is projected to register а САGR of close to 6% by 2031.
Palm acid oil is a by-product obtained from the alkaline refining of palm oil, which is widely used for making laundry soaps. Rising consumer demand for laundry detergent and soaps is a factor driving the growth of the target market. Furthermore, increasing demand for palm acid oil in cosmetics and personal care products drives the development of the target market over the forecast period. Growing population, rapid urbanization, rising awareness of personal grooming and hygiene, and high spending capacity of consumers are some of the factors expected to augment the growth of the target market. Increasing research and development for producing new and innovative products is among some significant factors anticipated to drive the growth of the target market.
Biodiesel production is increasing and replacing traditional fossil fuels, which is expected to augment the demand for palm acid oil across the globe. Palm acid oil is a potential and valuable ingredient required for biodiesel production as it is a low-cost feedstock. In addition, palm acid oil is used for making calcium soaps for animal feeds formulation, which increases the energy intake of animals. Palm acid oil produces many positive effects of an energy supplement of animal feed. Animal husbandry is proliferating, and many regions depend on animal husbandry for their livelihood as it plays an essential role in the rural economy. This is another factor expected to drive the growth of the global palm acid oil market.
Global Palm Oil Production (MMT), 2015-2021:
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Import-Export Analysis of Palm Acid Oil, under H.S. code 382319, 2016-2020
The import of palm acid oil (H.S. Code – 382319), including fatty acids, industrial, monocarboxylic; acid oils from refining, increased by 13.7% in 2020 to reach a value of US$ 4.5 Bn, while the export increased by 7.5%. Major importing countries in this category include the Netherlands, accounting for 12.3% of the total global imports. The Netherlands is followed by China, Malaysia, India, and the U.S. Major exporting countries of palm acid oil include Indonesia, Malaysia, Netherlands, Belgium and Germany.
Import (US$ ‘000) of Palm Acid Oil (H.S. Code – 382319) by Country, 2016-2020
Importing Country 2016 2017 2018 2019 2020 Netherlands XXX.X XXX.X XXX.X XXX.X 551972 China XXX.X XXX.X XXX.X XXX.X XXX.X Malaysia XXX.X XXX.X XXX.X XXX.X XXX.X India XXX.X XXX.X XXX.X XXX.X XXX.X The U.S. XXX.X XXX.X XXX.X XXX.X XXX.X XXX XXX.X XXX.X XXX.X XXX.X XXX.X Global XXX.X XXX.X XXX.X 3944843 4483690 To learn more about this report, request for sample report
Export (US$ ‘000) of Palm Acid Oil (H.S. Code – 382319) by Country, 2016-2020
Exporting Country 2016 2017 2018 2019 2020 Indonesia XXX.X XXX.X XXX.X XXX.X XXX.X Malaysia XXX.X XXX.X XXX.X XXX.X XXX.X Netherlands XXX.X XXX.X XXX.X XXX.X XXX.X Belgium XXX.X XXX.X XXX.X XXX.X XXX.X Germany XXX.X XXX.X XXX.X XXX.X XXX.X XXX XXX.X XXX.X XXX.X XXX.X XXX.X Global XXX.X XXX.X XXX.X XXX.X 4101898 To learn more about this report, request for sample report
The imports of palm acid oil declined by 1.1% during the Q2 of 2020 compared to the previous quarter due to the trade restrictions imposed to contain the coronavirus. Nonetheless, the imports stabilized in the Q3-2020, increasing to US$ 164 Mn, gaining by 17.2% from the previous quarter. On the other hand, the exports declined by 4.2% in Q2-2020 of the prior quarter and, post the lockdown relaxations, noted a subsequent growth of 18.7% in Q4-2020.
Regional Analysis:
Asia-Pacific is anticipated to hold a significant share of the global palm acid oil market. The region is also expected to register the highest growth rates over the forecast period. Growing animal feed and biofuel production activities in developed and developing economies in the region such as Japan, South Korea, China, India, etc., are expected to increase demand for palm acid oil. Robust growth of the cosmetics industry in China, Japan, and India is also likely to provide lucrative opportunities for the development of the market.
List of End-Users of Palm Acid Oil by Region:
Company Target Product Segment HQ Cargill Inc. Animal Nutrition The U.S. Midland Feeds Animal Nutrition UK BiofuelsDigest Biofuel Belgium XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX COVID-19 Impact Analysis:
The initial lockdown during Q1 and Q2 2020 caused severe disruptions in the palm acid oil supply chain. Lack of raw materials from major suppliers in China and halts in the movement of finished products stagnated the market growth. The closure of outlets and interrupted retail activities further exacerbated the situation. Relaxation of regulations post the initial lockdown and distribution through online markets helped the market to normalcy.
Nonetheless, various industry players in the global palm acid oil market are increasingly focusing on establishing successful collaborations, acquisitions, and joint venture activities to enhance their respective customer bases. These players are also growing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.
Competitive Landscape:
The palm acid oil market landscape appears highly fragmented, with a significant chunk of it being dominated by players in South-Asian countries.
- Verasuwan Company Limited
- Future Prelude Sdn Bhd
- T. Energy Feeds Indonesia
- Raasi Foods
- PT Anugrah Multi Sawita
- Tanimas Group
- Union Group
- Hade Energia Globale
- Kurnia Sari Utama
- Other Key Players
Report Scope
- Forecast Period: 2022-2031
- Actual Year: 2021
- Historical Data Available for: 2015-2020
Key Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Segments Covered
Palm Acid Oil Market, By Type
- PAO Yellowish
- PAO Brownish
Palm Acid Oil Market, By Application
- Soap
- Animal Feed
- Biodiesel
- Other Applications
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn To learn more about this report, request for sample report
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- Verasuwan Company Limited
- Future Prelude Sdn Bhd
- T. Energy Feeds Indonesia
- Raasi Foods
- PT Anugrah Multi Sawita
- Tanimas Group
- Union Group
- Hade Energia Globale
- Kurnia Sari Utama
- Other Key Players