Global Oleate Esters Market: Key Highlights
- The global demand for Oleate stood nearly US$ 1.74 Bn in 2018 and is projected to reach over US$ 2.63 Bn by 2027. The market is expected to witness continuous changes due to emerging techniques in its manufacturing processes, as any modification may lead to the better enhancement of the product in the current market.
- Oleate Esters are known as the esters or salts of oleic acids. Esters are synthesized by the reaction between alcohol and oleic acids in presence of catalysts. They are obtained from natural sources such as animal fats and vegetable oils, most preferably palm oil, canola oil, soybean oil, etc. As they are obtained from natural raw materials, they are preferred over other chemical compounds.
- As oleate esters are obtained from natural resources on a large scale and its demand is also expected to be increasing in the future, manufacturers are looking for ways by which they can produce oleate esters more quickly in order to meet the growing demands from various fields of application. Manufacturers are nowadays trying to find out chemicals which can be used as raw materials for producing oleate esters on a large scale.
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Global Oleate Esters Market: Segmental Insights
- Ethyl oleate dominated the global oleate esters market in 2018. Ethyl oleate is obtained by the reaction between ethanol and oleic acids. This trend is anticipated to continue in the next few years. The prime reason for the high consumption of ethyl oleate is their property of high solvency, which makes it useful in wide range of applications and in various formulations. Unlike most other forms of oleate esters, ethyl oleate can be used in food industry as well, but in minimal quantity.
- The incorporation of ethyl oleates in lubricants is followed on a large scale and is expected to continue to increase in the future as well.
- Methyl oleate is also used in major applications such as agrochemicals, lubricants, and in oil based formulations due to its property of having high solvency.
- In terms of application, lubricants accounted for major share in global oleate esters market in 2018. The use of oleates in lubricants is preferred due to their properties such as renewability, stability, and biodegradability. The increase in the rate of industrialization and the increasing number of automotive industries is expected to drive the usage of oleate esters in lubricants in the coming days.
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Global Oleate Esters: Regional Insights
- Asia Pacific and North America are the major regions for the market of oleate esters. This is due to large production as well as consumption capacity in these regions. Together, they make up over half of the oleate esters market.
- Growing demand of oleate esters is due to the increase in industrialization as well as the awareness regarding the use of materials which are obtained from natural sources in both the regions. Different region are anticipated to grow evenly, with Asia Pacific showing exceptional growth over the years.
- Demand for oleate esters In North America is estimated to rise due to their increasing requirement in the personal care and cosmetics sectors in the U.S.
- The market of oleate esters in Europe is in its developmental stage. The oleate esters market in Europe is likely to register a CAGR of more than 4% during the forecast period.
- Middle East & Africa is beset with vast lands engaged in the cultivation of palm plantations which can be effectively used as raw materials to manufacture various oleate esters. The easy availability of raw materials may lead to the expansion of the market of oleate esters in Middle East & Africa in the near future
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Global Oleate Esters Market: Competition Landscape
- Major players in the Oleate Esters market include
- Procter & Gamble
- Wilmar International Ltd.
- Kao Corporation
- Emery Oleochemicals
- KLK
- Victorian Chemical Company
- Italmatch chemical S.p.A.
- Croda International Plc.
- Key players are constantly making efforts to increase profitability by raising plant capacities and through strategic partnerships
- In January 2019, Emery Oleochemicals, expanded distributor partnership with Omya Inc. effective January 1, 2019. Omya’s North America division will provide technical service and support to new and existing customers across the United States for Emery’s Green Polymer Additives (GPA) products which include lubricants, release agents, antistatic and antifogging agents, and specialty plasticizers.
http://www.sbwire.com/press-releases/food-safety-testing-market/release-1331553.htm
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