ALBANY, New York, January 16, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Oleate Esters (Methyl Oleate, Ethyl Oleate, Butyl Oleate, Tri-methylolpropane Trioleate (TMPTO), Others) Market for Agrochemical, Cosmetics, Lubricant, Plasticizer, Absorbent, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global Oleate Esters market was valued at US$ 1,483.3 Mn in 2015 and is anticipated to reach US$ 2,260.3 Mn by 2024, expanding at a CAGR of 4.8% between 2016 and 2024.
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 oleate esters products are segmented as follows: methyl oleate, ethyl oleate, butyl oleate, TMPTO, & Others. Ethyl oleate has been a preferred choice in formulations of lubricants during the last few years and the trend is expected to continue during the future days as well. 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.
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Major application of oleate esters are seen in lubricant, cosmetics, agrochemical, absorbent, plasticizer. They are used in food industry as well but in minor quantity. Oleate esters are generally incorporated into formulations for better performance.
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.
Asia Pacific and North America are the leading regions of the oleate esters market, owing to large production along with consumption capacity in the mentioned regions. Both the regions constitute more than half of the oleate esters market. Rising demand of oleate esters is because of the increase in industrialization as well as the increasing awareness concerning the use of materials having natural source of origin in both the regions. The regions are anticipated to grow at a steady rate, with Asia Pacific showing exceptional development over the years.
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.
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.
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.
Major players in the Oleate Esters market include Procter & Gamble, Wilmar International Ltd., and Croda International Plc.
The Oleate Esters market has been divided into the following segments.
Oleate Esters Market - Product Analysis
- Methyl Oleate
- Ethyl Oleate
- Butyl Oleate
- Tri-methylolpropane Trioleate (TMPTO)
Oleate Esters Market - Application Analysis
Oleate Esters Market - Regional Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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