The global market for oleate esters demonstrates a
highly competitive landscape, thanks to the intense rivalry between
leading players, such as Wilmar International Ltd., Procter &
Gamble, and Croda International Plc., finds a research study by
Transparency Market Research (TMR). These participants are
continuously making efforts to improve profitability by increasing
their production capacities. Going forward, a shift in the focus of
these companies towards strategic partnerships to increase their
visibility can be observed, states the research report.
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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.
Easy Availability of Raw Materials to Ensure Asia
Pacific’s Leadership
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.
In North America, the growing consumption of personal
care products is anticipated to drive the demand for oleate esters in
the near future. On the other hand, the growing demand for organic
esters is projected the Europe market for oleate esters over the next
few years, states the research report.
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Growing Industrialization to Boost Demand for
Oleate Esters
“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.
On the other hand, the high price of oleate esters
and the high cost incurred in their storage and maintenance are
likely to limit their adoption over the next few years, notes the
research study.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Oleate Esters Market
- Global Industry Analysis, Size, Share, Growth, Trends, and Forecas
2016 - 2024.”
The Global Oleate Esters market has been segmented
as follows:
By Product
- Methyl Oleate
- Ethyl Oleate
- Butyl Oleate
- Tri-methylolpropane Trioleate (TMPTO)
- Others
By Application
- Agrochemical
- Cosmetics
- Lubricant
- Plasticizer
- Absorbent
- Others
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