Oleate Esters Market
Oleate Esters Market Analysis By Type (Ethyl Oleate, Methyl Oleate, Butyl Oleate & Trimethylolpropane Trioleate) By Application (Lubricants, Plasticizers, Agrochemicals & Cosmetics) & By Region – Global Market Insights 2022 to 2032
Analysis of Oleate Esters market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Oleate Esters Market Outlook (2022-2032)
Newly-released Oleate Esters Market analysis report by Fact.MR shows that global sales of Oleate Esters Market in 2021 were held at US$ 1.8 Bn. Oleate Esters Market is projected to reach valuation of US$ 3.3 Bn, expanding at a CAGR of 5.8% by 2032.
Lubricants is expected to be the highest revenue-generating application, with a projected CAGR of over 7.3% during 2022 – 2032.
Oleate Esters Market CAGR (2022-2032)
Oleate Esters Market Size (2022)
US$ 1.9 Bn
Oleate Esters Market Size (2032)
US$ 3.3 Bn
Revenue of Oleate Esters Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Oleate Esters Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the value of the Oleate Esters Market increased at around 5.1% CAGR.
The growing cosmetics sector is helping to meet the growing need for oleate esters, which is helping to move the industry ahead. Additionally, the chemical is utilized to create biodegradable and natural paints, which are used in the construction and building sectors.
The demand for oleate esters is growing throughout the industry as a consequence of the increased need for environmentally friendly paints. These factors are expected to propel the oleate esters market ahead in the near future.
Apart from the driving factors, there also exists certain market growth restraining factors for oleate esters, of which is the cost of manufacturing the chemical stands at the forefront. Despite this, increased PVC demand is expected to give lucrative development opportunities for the oleate esters market in the near future, according to industry analysts.
While this is happening, continuing research and development procedures by key players in the worldwide market to create enhanced and safe agrochemicals and lubricants are expected to further accelerate the industry dynamics during the projected period.
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What Factors are Propelling Oleate Esters Demand?
During the forecast period, the improvement of technology in its manufacturing processes, the rising demand for food grains as a result of population increase, and the increasing awareness of the benefits of agrochemicals are expected to propel the growth of the oleate esters market.
Furthermore, the rising demand for lubricants as a result of large-scale applications in the manufacturing, automotive, aerospace, and other industrial sectors, limited agricultural land sizes, and increasing consumer awareness about the use of natural and environment-friendly paints are all expected to contribute to the growth of the oleate esters market in the coming years, according to industry analysts.
Furthermore, the constant changes in climate conditions, as well as the significant upsurge in the cosmetic industry as a result of the rise in disposable income and the increasing willingness to spend money on one's appearance, are some of the factors that are expected to support the growth of the oleate esters demand in the future.
On the other hand, it is predicted that the rise in manufacturing costs would further stifle the expansion of the oleate esters market in the approaching years. The rising demand for polyvinyl chloride will also provide additional potential development prospects for the oleate esters market in the near future, according to the report.
Which Region is projected to Offer the Largest Opportunity for Oleate Esters Market?
Asia Pacific dominates the oleate esters market due to its large production and consumption capacity. Furthermore, the growing demand for oleate esters as a consequence of industrialization and greater awareness about the use of naturally-sourced materials will boost the region's oleate esters market during the forecast period.
Owing to the rising demand for oleate esters in the personal care and cosmetics sectors in the region, the oleate esters market is likely to expand significantly. Furthermore, the region's expanding aerospace and automotive sectors are likely to propel the oleate esters market forward.
Large areas of the Middle East and Africa are being devoted to the development of palm plantations, which may be used as raw materials to make various oleate esters. The inexpensive availability of raw materials may result in a growth in the Middle East and Africa's oleate esters market in the near future.
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Which Country Lies at the CenterStage for Oleate Esters Market Revenue?
China and India are expected to be two of the most important markets for oleate esters. The rising aerospace and automotive industries in both regions will promote lubricant consumption and fuel future market growth for oleate esters. The market in China is expected to showcase an absolute dollar opportunity of US$ 143.9 Mn during 2022 – 2032.
Why Ethyl Oleate is projected to Witness Fastest Growth among Oleate Esters Type?
In 2021, ethyl oleate led the worldwide oleate esters market. The interaction of ethanol with oleic acids produces ethyl oleate. This tendency is expected to continue in the forthcoming years. The primary reason for ethyl oleate's high consumption is its high solvency, which enhances its utility in a broad range of applications and formulations.
Unlike the other oleate esters, ethyl oleates can be utilized in the food sector, albeit in small amounts. Besides, the use of ethyl oleates in lubricants is widespread and is likely to grow further in the future.
How the Butyl Oleate Segment Pulled the Growth Trigger in Oleate Esters Market?
Butyl Oleate is expected to offer significant potential in the oleate esters market. Revenue through this category is projected to grow at a CAGR of 6.7%. Butyl Oleate is used in cosmetics such as lipstick, hair sprays, solubilizer for creams and lotions, antistatic lubricant, plasticizer for natural and synthetic defoamers, textile wetting agent, and rust inhibitors, among others.
They offer good low-temperature flexibility, heat, and sunlight and water resistance. Owing to these factors, the market for oleate esters is projected to grow at a rapid pace during the forecast period.
Which Application of Oleate Esters is expected to Score Highest Growth in the Coming Years?
During the period of projection, lubricant commanded the most revenue as well as it is expected to garner a CAGR of approximately 7.3% during 2022 – 2032. In 2018, lubricants accounted for the lion's share of the global oleate esters market. Oleates are used in lubricants due to their stability, renewability, and biodegradability. The accelerated pace of industrialization, as well as the expanding automotive sector, is expected to boost the usage of oleate esters in lubricants in the forthcoming years.
The usage of oleate esters in agrochemicals has also been expanding. Oleate esters are known to boost the efficiency of agrochemicals when used in combination with them by improving attributes such as spreading through the crop surface. They are good emulsifiers and solvents when mixed with agrochemicals.
The cosmetics industry is also projected to boost the use of oleate esters in their formulations owing to increased knowledge about the use of biodegradable components that have fewer adverse effects than chemical ones.
What is the impact of Covid-19 on Oleate Esters Market?
Most of the chemical businesses were hit hard during the pandemic. This is owing to significant disruptions in their respective production and supply-chain operations as a consequence of many precautionary lockdowns and other restrictions imposed by regulatory authorities throughout the globe. It was also true for the global Oleate Esters market. However, with the resurgence of end-use industries such as lubricants, plasticizers, agrochemicals, and cosmetics, the demand for oleate esters is expected to expand.
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Since oleate esters are obtained from natural resources, manufacturers are researching methods or alternatives to produce oleate esters at a faster rate in order to meet the needs of various areas of application. Compounds that may be used as raw materials in the large-scale manufacturing of oleate esters are being sought after by manufacturers.
The nature of the market is said to alter on a regular basis as a result of changes in the methods used to produce oleate esters. The number of firms operating in the oleate esters market may grow in the coming years.
Because of the intense R&D operations done by market participants, a change in the nature of the oleate esters may be feasible.
The key players operating in the oleate esters market report are P&G Chemicals, Wilmar International Ltd., Kao Corporation, Emery Oleochemicals, Victorian Chemical Company, Italmatch Chemical S.p.A., Croda International Plc., Italmatch, and INEOS Group.
Some of the recent developments of key Oleate Esters providers are as follows:
- In January 2021, Emery Oleochemicals increased its distribution agreement with Omya Inc. Omya's North America company will provide technical help and support to Emery's Green Polymer Additives (GPA) products, including release agents, lubricants, specialty plasticizers, antistatic and antifogging agents, to both new and current customers in the United States.
- In May 2020, Kao Corporation finished the new facility of its joint venture firm PT Apical Kao Chemicals, in Sumatra, Indonesia.
- In January 2020, Ineos Chemicals Holdings Luxembourg S.A. completed the purchase of Wilmar France Holdings S.A.S., an indirect wholly-owned subsidiary of Wilmar that owns and operates an ethoxylation plant in Lavera, France, by Wilmar International Limited and Ineos Oxide.
- In October 2019, Emery Oleochemicals GmbH inked a new distribution deal with IMCD Nordic. Emery's Green Polymer Additives business unit's natural-based lubricants, releasing agents, antistatic and antifogging agents, and specific plasticizers will be distributed and supported by IMCD Nordic.
Similarly, recent developments related to companies’ Oleate Esters services have been tracked by the team at Fact.MR, which are available in the full report.
Oleate Esters Market Report Scope
Historical Data Available for
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Market Segments Covered in Oleate Esters Market Analysis
By Type :
- Ethyl Oleate
- Methyl Oleate
- Butyl Oleate
- Trimethylolpropane Trioleate
By Application :
By Region :
- North America
- Latin America
- FAQs -
The global Oleate Esters Market is worth more than US$ 1.9 Bn at present.
The value of Oleate Esters Market is projected to increase at a CAGR of around 5.8% during 2022 – 2032.
The value of Oleate Esters Market increased at a CAGR of around 5.1% during 2017 – 2021.
The rising cosmetic business is supplementing the need for oleate esters, propelling the industry forward.
The market for Oleate Esters Market in China is projected to expand at a CAGR of around 5.9% during 2022 – 2032.
While the market in South Korea is expected to grow at nearly 5.3%, the market in Japan is projected to register a CAGR of nearly 5.7% during 2022 - 2032.