STOCKHOLM, SWEDEN, July 15, 2022 (GLOBE NEWSWIRE) -- Recent study report released by Data Bridge Market research titled “Global Esters market” (covering USA, Europe, China, Japan, India, South East Asia and etc.) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. Esters Market is the best quality market report that has in-depth market research studies. This report encourages accomplishing success by making to focus on the information and substances of the business which is in trend. With the market report, it turns out to be easy to draw together industry data more rapidly. This global market research report will prompt significant thoughts and better leadership. The marketing report is a careful analysis of the current situation of the worldwide market, which covers a few market elements. An international Esters market report makes organizations equipped with information and data produced by sound research strategies.
Global Esters Market was valued at USD 76.28 billion in 2021 and is expected to reach USD 125.30 billion by 2029, registering a CAGR of 6.4% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Overview:-
Over the last few years, the esters industry has been gaining traction owing to their budding acceptance across the food and beverages industry due to their pleasant smell and tastes is boosting sales in the market. Additionally, due to their capacity to dissolve various substances, esters are among the most widely used solvents in the chemical, food, textile, and other sectors. Consequently, these determinants are estimated to accelerate the overall demand for the market.
A non-hydrocarbon organic compound called ester is created when a carboxylic acid and an alcohol react. It can be acquired either naturally or artificially. Natural seed oils, including rapeseed, soy, and sunflower oil are the main sources of the occurring ester. Synthetic esters can be used as an oil additive, adhesive, sizing agent, binder, and many other things because of their great oxidation stability and low pour point. Finally, it finds usage in various end-use sectors, including construction, lubricants, paint and coatings, pulp and paper, cosmetics and personal care, and others.
The Major Players Covered in the Global Esters Market Report Are:
- DuPont (U.S.)
- Solvay (Belgium)
- Huntsman International LLC (U.S.)
- DAIKIN (Japan)
- Dow (U.S.)
- Ashland (U.S.)
- DAK Americas (U.S.)
- Esterchem Ltd. (U.K)
- Sumitomo Chemical Co., Ltd. (Japan)
- ABITEC (U.S.)
- ADM (U.S.)
- BASF SE (Germany)
- IFFCO (Turkey)
- AkzoNobel N.V. (Netherlands)
- Biotage (Sweden)
- Stepan Company (U.S.)
- DSM (Netherlands)
- CEM Corporation (U.S.)
- Fine Organics (India)
- Subhash Chemicals (India)
- Gattefosse (France)
- Croda International (U.K.)
The manufacturers can produce any lubricating product for a particular environment or application. This has emerged as the deciding element in solving the performance and environmental problems. There are many fluids and lubricants with ester bases on the market today that not only offer good performance but also have no effect on the environment. Phosphate esters and silicate esters, for example, are several types of ester-based fluids that are frequently employed as lubricants, hydraulic fluids, lubricant additives, and fire retardant lubricants. Silicate esters are widely utilized for low-temperature refrigeration compressor lubricating because they have good low-temperature characteristics. As a result, the global esters market is anticipated to experience strong growth over the forecast period.
Additionally, the rapid industrialization and urbanization along with the growing demand for esters derivatives such as polyesters largely accelerate the growth rate of the global esters market. Also, due to an increase in the installation of contemporary machinery across numerous industries, lubricants are assisting the esters market in seeing expanded growth. The rapid growth and expansion of the industries such as automotive and construction, are projected to bolster the growth of the market. Esters are the go-to base stock for lubricant formulation in the automotive, aerospace, and general manufacturing sectors because they offer low temperature flow ability and clean operation at high temperatures.
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Recent Development
In July 2021, An MoU (Memorandum of Understanding) was signed between Verbio AG and Indian Oil Corporation Ltd. By utilizing Verbio's technology and industry knowledge to produce biofuels (biomethane (CBG/BioCNG), bioethanol, and biodiesel) and market them through Indian Oil's network, the MoU will investigate the feasibility of establishing a joint venture company.
In March 2021, Optimus technologies worked with Renewable Energy Group Inc. Through this partnership, biodiesel is delivered to fleets all around the United States. Biodiesel may now be used in fleets as B100, or with 100% blended biodiesel, thanks to new technology from Optimus.
In August 2021, At its Fukuoka factory, Mitsubishi Chemical Corporation announced opening a new sugar ester production facility. In order to meet the growing demand from the food industry, where sugar ester is mostly used, the new facility will enhance the company's production capacity.
Key Coverage in the Esters Market Report:
- Detailed analysis of the Global Esters Market by a thorough assessment of the technology, product type, application, and other key segments of the report
- Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
- Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
- Comprehensive analysis of the regions of the Esters industry and their futuristic growth outlook
- Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
Opportunities
- Adoption of Environment-friendly Products and Other Advancements
Furthermore, the increase in adoption of environmentally acceptable lubricants (EAL), extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the advancements of technology such as the introduction of automation and increasing adoption of modern age machinery such as Industry 4.0 will further expand the future growth of the esters market.
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Drivers
- High Demand Across Cosmetics Industry
The market for esters is anticipated to develop as a result of rising demand from the cosmetics sector. The market for esters is also anticipated to increase as a result of rising emulsifier and stabilizer demand in the personal care and detergent industries. As a result of the growing demand for cosmetics and personal care products worldwide, the esters market is growing along with the cosmetic sector.
- Growing Utilization across Food Industry
Esters' market growth is anticipated to be aided by their expanding use as food additives in the food industry. They are primarily used in processed foods, ice creams, and baked goods. It improves the texture of the food products by stabilizing and thickening the food. The global demand for processed food products is another factor contributing to the expansion of the ester market.
- Availability of Numerous Esters
The manufacturers can produce any lubricating product for a particular environment or application. This has emerged as the deciding element in solving the performance and environmental problems. There are many fluids and lubricants with ester bases on the market today that not only offer good performance but also have no effect on the environment. Phosphate esters and silicate esters, for example, are several types of ester-based fluids that are frequently employed as lubricants, hydraulic fluids, lubricant additives, and fire retardant lubricants. Silicate esters are widely utilized for low-temperature refrigeration compressor lubricating because they have good low-temperature characteristics. As a result, the global esters market is anticipated to experience strong growth over the forecast period.
Esters Market Segmentation:-
Source
- Natural
- Synthetic
Product
- Dibasic Esters
- Polyol Esters
- Methyl Esters
- Nitrate Esters
- Vinyl Esters
- Phosphate Esters
- Acrylic Esters
- Sucrose Esters
- Fatty Acid Esters
Application
- Lubricants
- Solvents
- Plasticizers
- Fuel and Oil Additives
- Flame Retardants
- Insecticides
- Explosives
- Surfactants
- Flavoring Agents
End-Use Industry
- Chemicals
- Food
- Automotive and Aviation
- Marine
- Textiles
- Cosmetics and Personal Care Products
- General Manufacturing
Strategic Points Covered in Global Esters Market Table of Content:
Chapter 1: Introduction, the basic information of the Global Esters Market & product overview
Chapter 2: Objective of Study and Research Scope of the Esters Market
Chapter 3: Esters Market Dynamics- driving growth factors, disruptive forces, Trends and Challenges & Opportunities
Chapter 4: Market Factor Analysis, Esters Market Value Chain, PESTEL & PORTER Model, Market Entropy, Patent/Trademark Analysis
Chapter 5: Player Analysis; Competitive Landscape, Peer Group Analysis of Esters Market, Strategic Group Analysis, Perpetual Mapping, BCG Matrix & Company Profiling
Chapter 6: Displaying Market Revenue Size by Type, application /vertical or end users, other Segments
Chapter 7: To evaluate the market by countries further broken down by countries
Chapter 8: Research Methodology
Chapter 9: Data Source
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