Global Oleate Esters Market: Highlights
·
The
global oleate esters market is projected
to grow at a CAGR of nearly 5.0% between 2019 and 2027. The
primary reason for the high rate of utilization of ethyl oleate in lubricants
is their superior qualities such as absorbency, solvency and their resistance
to low temperatures while being incorporated in any reaction. The demand for
oleate esters is expected to increase in the future due to the rising awareness
among the people regarding the superior properties of oleate esters and the
wide range of applications that they serve.
·
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.
·
The
segment of lubricant is expected to increase the consumption of oleate esters
in its formulations due to the changing trends and the demands of the industries
where lubricants have an important role. There is an increasing amount of
interest in the consumption of oleate esters in agrochemical and cosmetics
owing to rapid developments in agricultural products as well as personal care
commodities respectively.
·
Oleate
esters are used in wide range of applications during present days .Oleate
esters include a varied range of products such as ethyl oleate, TMPTO,
methyl oleate, butyl oleate, and others such as sorbitan oleate, sodium oleate,
etc. which can be used efficiently in number of industrial purposes. The use of
vegetable oils as natural materials gives oleate esters a benefit over other
chemicals, which also means it is comparatively safer and less toxic.
Global Oleate Esters Market: Segmental Trends
·
Ethyl
oleate esters dominated the global oleate esters market in 2018.
Ethyl oleate is an ethyl ester of oleic acid. It is synthesized artificially by
condensation of ethanol and oleic acid. Ethyl oleate offers good solvency;
hence, it can be used in a wide range of applications.
·
Methyl
oleate accounted for substantial share in global oleate esters market. Methyl
oleate is used extensively in agrochemical, lubricants, etc. due to its high
solvency.
·
The
lubricants segment dominated the global market for oleate esters in 2018,
holding approximately 30% of the global oleate esters market.
Properties such as renewability, stability, and biodegradability drive the
demand for oleate esters in the lubricants application segment
·
The
consumption of oleate esters in agrochemicals is also increasing at a steady
pace. Oleate esters when used along with agrochemicals are known to enhance
their efficiency by improving its properties such as spreading onto the crop
surface. They act as excellent solvents and emulsifiers when used along
with agrochemicals.
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Global Oleate Esters Market: Regional Highlights
·
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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Key Developments in Global Oleate Esters Market
·
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.
·
In May
2019, Kao Corporation completed the new factory of its joint venture
company PT Apical Kao Chemicals (a joint venture company of Apical Group
Limited and Kao Corporation) that produces fatty acids in Sumatra, Indonesia.
·
In January
2019, Wilmar International Limited and Ineos Oxide completed the
acquisition by Ineos Chemicals Holdings Luxembourg S.A. of Wilmar France
Holdings S.A.S., an indirect wholly-owned subsidiary of Wilmar, which owns and
operates an ethoxylation facility located in Lavera, France.
·
In October
2018, Emery Oleochemicals GmbH appointed a new distributor agreement with IMCD
Nordic. IMCD Nordic will represent Emery's Green Polymer Additives business
unit to distribute and provide technical support for their natural-based
lubricants, release agents, antistatic and, antifogging agents, and special
plasticizers.
·
In May
2018, Emery Oleochemicals LLC, appointed Tri-iso Tryline LLC as the
distributor for its DEHYLUB® Ester Base Stocks and Additives in the United
States.
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Global Oleate Esters Market: Competition Landscape
·
Since
oleate esters are obtained from natural resources and its demand is also said
to be increasing in the future, manufacturers are devising methods or
alternatives through which they can produce oleate esters at a faster rate in
order to meet the demands from various fields of application. Manufacturers are
nowadays looking for chemicals which can be used as raw materials for the
synthesis of oleate esters on a large scale.
·
The
nature of market is said to be changing constantly as a result of variations in
techniques involved in the manufacturing of oleate esters. In coming days,
there may be a rise in the number of players involved in the market of oleate
esters. Modifications in the nature of the oleate esters can be possible due to
the stringent R&D activities being undertaken by the market players.
·
Some of
the major manufacturers operating in the global oleate esters market include Procter
& Gamble, Wilmar International Ltd., Kuala Lumpur Kepong Berhad (KLK), Kao
Corporation, Italmatch Chemicals S.p.A., and The Victorian Chemical Company
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