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Esters Market Overview

The report is titled as ‘Esters Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the Esters market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Esters market is expected to grow with significant rate in the near future.

In 2021, global esters market was valued at US$ 77,441.0 Mn and expected to grow significantly at a CAGR of 5.5% over the forecast period (2022-2028)

Esters Introduction

According to a basic definition, an ester can be understood as a chemical compound that is derived from an organic or inorganic acid in which at least hydroxyl (-OH) is substituted by an alkyl (-O-) group. To put it in easier terms, esters are the class of chemical compounds which are developed by bonding of an alcohol class with a class of organic acids, by losing water molecules. Moreover, esters are also generally obtained from carboxylic acids. It is also likely to be procured from the reaction of acid anhydride or acid halides with alcohols or by the reaction of salts of carboxylic acids with alkyl halides.

Other than that, there is another term called ‘Esterification’. Which refers to the process or a basic term for a chemical reaction, in which the two reactants (acid and the alcohol) develop an ester as the final reaction product. In present times, esters are witnessing high demand from the lubricant industry, as they fraternize with metal surfaces and decrease the amount of metal-to-metal contact throughout the sliding motion. Notably, structural factors that affect lubricity comprise the amount of branching, the chain length, and the location of linkages within the molecule.

Growing Demand for High Performance Lubricants from Industrial Sector

Oil and lubricants are few of the most prominent elements of this growing modern industrial sector all over the globe. Significant development in the industrial sector supported by growth in the economy especially in the developing nations has led to the upsurge development of manufacturing along with the industrial sector. Increasing automation in the industrial sector has elevated the adoption of complex machine, tools and equipment. Usage of advance technologies and machines is augmenting the output of several industries. Advancement in the technology and increasing adoption of modern age machinery are driving the demand for high performance lubricants. The demand for industrial lubricants is estimated to grow with a growth rate of 3 to 3.5% in the coming years. Esters are used in the manufacturing of lubricants. Growing demand for industrial lubricants all over the globe is anticipated to bolster the consumption of esters over the forecast period.

Esters Market Segmentation

The global esters market is segmented on the basis of product type, application, end user industry, and region.

By Product

Dibasic Esters

Polyol Esters

Methyl Esters

Nitrate Esters

Vinyl Esters

Phosphate Esters

Acrylic Esters

Sucrose Esters

Fatty Acid Esters

By Application

Lubricants

Solvents

Plasticizers

Fuel and Oil Additives

Flame Retardants

Insecticides

Explosives

Surfactants

Flavoring Agents

By End-Use Industry

Chemicals

               Plastic & Polymers

               Soaps & Detergents

               Paints & Coatings

               Agrochemical & Domestic Hygiene Products

               Industrial Chemical

               Others

Food

Automotive and Aviation

Marine

Textiles

Cosmetics and Personal Care Products

General Manufacturing

By Region

               North America

               Latin America

               Europe

               Asia Pacific

               Middle East

               Africa

Esters Market Key Players

Some of the key participating players in global Esters market are:

BASF SE

Exxon Mobil Corporation.

LANXESS

Arkema Group

Ashland, Inc.

Evonik Industries AG

Cargill, Incorporated

Procter & Gamble

Kao Corporation

Oleon N.V.

Mitsubishi Chemical Corporation

PMC Biogenix, Inc.

Hexion

Calumet Specialty Products Partners, L.P.

Croda International plc

NYCO

Interplastic Corporation

ZSCHIMMER & SCHWARZ

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Esters

Advantages of Esters

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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