Rockville, MD, Dec. 18, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global oleate ester market is estimated to reach a valuation of US$ 2,094.8 Million in 2024 and is expected to grow at a CAGR of 5.6% during the forecast period of (2024 to 2034).
Rising environmental awareness and growing regulations on the use of chemicals, oleate esters are being produced from renewable and non-polluting resources by manufacturers to keep up to the needs. The recent changes by producers can be noted with an emphasis on the procurements of palm, soy and sunflower oleo-chemicals that fully replace their petroleum-based counterparts which is more environmentally friendly. This is because customers have become more health-conscious over the years and prefer safe oleate which meet their quality standards.
In order to enhance the performance and adaptability of oleate esters to changing needs, manufacturers allocate some of their resources to research and development. For example, advances in technology enabled the development of oleate esters with enhanced stability, solubility and emulsification properties which has further expanded their use in various products including cosmetic agents and industrial lubricants.
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Key Takeaways from the Market Study:
- The global oleate ester market is projected to grow at 5.9% CAGR and reach US$ 3,612.3 Million by 2034
- The East Asia is a prominent region that is estimated to hold a market share of 33.1% in 2034
- Predominating market players include Wilmar International Ltd., Kao Corporation, Emery Oleochemicals, Victorian Chemical Company, Italmatch Chemical S.p.A., Croda International Plc., and INEOS Group.
- Ethyl oleate under oleate type is estimated to grow at a CAGR of 5.8% reaching a valuation of US$ 942.8 Million by 2034
“Oleate ester improves lubrication, decreasing friction and wear, which is essential for mechanical systems. It functions as a lubricant catalyst, guaranteeing seamless performance.” says a Fact.MR analyst.
Leading Players Driving Innovation in the Oleate Esters Market:
Wilmar International Ltd.; Kao Corporation; Emery Oleochemicals; Victorian Chemical Company; Italmatch Chemical S.p.A.; Croda International Plc.; INEOS Group; Other Prominent Players
Market Development:
The oleate esters market is growing strongly due to their wide range of uses in different sectors. Manufacturers have recently been concentrating on improving their performance and sustainability through new developments. By creating new formulations and improving refining processes, manufacturers have attained greater purity and enhanced lubricating properties, meeting the advanced needs of contemporary machinery and equipment.
Manufacturers are actively highlighting the environmentally friendly properties of oleate esters, emphasizing their biodegradability and lower environmental impact in comparison to conventional lubricants. The marketing strategy outlined here is in line with the global trends of focus on sustainability and the legal requirements for such options. With the help of significant corporations in some industries such as automotive, aerospace, and manufacturing, the producers have managed to enter a new market and seize more clients. Consequently, the oleate esters market is expected to continue growing due to constant innovations and partnerships that cater to changing industry demands and sustainability objectives.
Oleate Esters Industry News:
- In January 2021, Emery Oleochemicals expanded its distribution arrangement with Omya Inc. in the United States for Emery's Green Polymer Additives (GPA) products, including oleate esters.
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Fact.MR, in its new offering, presents an unbiased analysis of the global soy chemicals market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on the by type (Ethyl Oleate, Methyl Oleate, Butyl Oleate, and Trimethylolpropane Trioleate), by application (Lubricants, Plasticizers, Agrochemicals, and Cosmetics) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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