Press release
Esters Market to Witness an Outstanding Growth in Coming Years
The global esters market is expected to grow at a CAGR of 6.6% during the forecast period. The factors driving the growth of the global market include growing automotive industry, technological advancements, increasing demand of coatings in construction industry, and increasing demand for esters in lubricant, personal care and cosmetic industries.The growth of the global esters market is largely driven by high demand for esters in lubricants having several end-uses including automotive, aviation, marine, and industrial. The commercial adoption of bio-based esters, increasing adoption of environmentally acceptable lubricants (EALs) and developing economies of Asia-Pacific, such as India and China offer ample growth opportunities for the manufacturers of esters.
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Among the different types of esters, the polyesters segment held the largest share in the global esters market in 2015. The segment dominated the global market, due to high demand from textile, electrical insulation, industrial fabrics, home furnishing and packaging industries. The phosphate esters segment is anticipated to witness the fastest growth in the global esters market during 2016 -2022, owing to their high lubrication properties and thermal stability.
In 2015, Asia-Pacific held the largest share in the global esters market. The region is also anticipated to be the fastest growing market for esters during the forecast period. The major reasons behind the growth of the esters market in the region include high compliance for polyesters in textile and packaging industries, rapid industrialization and high growth in automotive industry in the developing economies, such as China and India.
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Some of the major players operating in the global esters market include BASF SE, Cargill Incorporated, Exxon Mobil Corporation, DAK Americas LLC, The Dow Chemical Company, Chemtura Corporation, Croda International Plc, Esterchem Ltd., and NYCO.
GLOBAL ESTERS MARKET SEGMENTATION
By Type
• Polyesters
• Acrylic Esters
• Fatty Acid Esters
• Phosphate Esters
• Others
By Application
• Textile
• Lubricant
• Packaging
• Paints and Coatings
• Personal Care and Cosmetics
• Surfactants
• Food and Beverages
• Others
GEOGRAPHICAL SEGMENTATION
By Region
• North America
o U.S.
o Rest of North America
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Rest of the World
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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