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Oleate Esters Market Research Report - Forecast to 2024
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The study reports that the global market for oleate esters, which offered an opportunity worth US$1.4 bn in 2015, is projected to expand at a CAGR of 4.80% during the period from 2016 to 2024 and reach a value of US$2.2 bn by the end of the forecast period. In terms of volume, the market is estimated to rise at a CAGR of 4.10% over the same time period. Ethyl oleate has emerged as the most demanded product in this market. Thanks to the increasing usage of ethyl oleate in various applications, such as lubrication, this segment, progressing at a CAGR of 5.10% between 2016 and 2024, is expected to continue as market leader throughout the forecast period.
North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific have been identified as the main regional markets for oleate esters in this report. Among these, North America and Asia Pacific are registering a higher growth in their respective markets for oleate esters than other regional markets, thanks to the presence of a number of large production facilities. The increasing number of industries using oleate esters is also adding to the growth of this market in these regions.
With nearly 33% of the overall market, Asia Pacific surfaced as the leading contributor to this market in 2015. Supported by the easy availability of raw materials for oleate esters, together with well-established production plants and the continual rise in research and development activities, this regional market is likely to remain dominant throughout the forecast period.
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“The demand for oleate esters is heavily influenced by the growing industrialization across the world,” states the author of the study. The emerging economies of Asia Pacific, specifically, has surfaced as key consumers of oleate esters, owing to the high rate of industrialization in this region. The continued rise in industrialization is projected trigger the demand for oleate esters considerably over the forecast period. The increasing demand for various types of lubricants is also anticipated to boost the global market for oleate esters in the forthcoming years.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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