Inclination towards Biodegradable Paints to Elevate Oleate Esters Sales at 5.8% CAGR in 2022

Sales of Oleate Esters in Lubricants to Surge at 7.3% CAGR through 2032 

The latest study published by Fact.MR offers in-depth insights into the global oleate esters market during the forecast period 2022-2032. The study highlights key dynamics such as drivers, restraints, and opportunities across 5 regions. It also provides growth prospect in the market in terms of type and application for the next ten years.

NEW YORK, June 16, 2022 /PRNewswire/ -- The global oleate esters market reached US$ 1.8 Bn in 2021. The sales of oleate esters are anticipated to total US$ 1.9 Bn by 2022, projecting growth at a CAGR of 5.8% during the forecast period 2022-2032.

Increasing research and development (R&D) activities by leading players to develop advanced and safe agrochemicals is estimated to assist the oleate esters demand to exceed US$ 3.3 Bn by the end of 2032.

Due to surging trend of urbanization, there is a swift rise in infrastructure development activities, creating strong demand for paints across the construction industry. With rising concerns pertaining to environmental sustainability, end users are inclining towards the adoption of bio-degradable and natural paints.

Citing this trend, numerous manufacturers are also introducing novel environment-friendly paints. For instance, in 2020, Asia Paints, an Indian multinational paint company launched a new organic range of paints featuring ingredients such as castor seeds, soya beans, and neem oil. As oleate esters are used in the production of these paints, growing adoption of organic paints and rising new product launches are projected to accelerate sales in the global market.

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Among the application verticals, the lubricant segment is expected to account for a maximum share in the market through 2032. This is attributed to the large-scale application of lubricants across automotive, manufacturing, aerospace, and others industries.

Key Takeaways:

• The U.S. is estimated to account for a dominant share of the North America market, owing to increasing adoption of bio-degradable and organic paints.
• Germany is expected to register growth at a considerable pace in the Europe market, driven by the growing applications of lubricants across the automotive industry.
• Sales of oleate esters are forecast to rise at a rapid CAGR in China, assisting the country to create an absolute dollar opportunity of US$ 143.9 Mn through 2032.
• On the basis of type, the butyl oleate segment is anticipated to account for a significant share in the market, expanding at a CAGR of 6.7% between 2022 and 2032.
• Lubricant is projected to account for a leading revenue share in the application segment, exhibiting sales growth at 7.3% CAGR during the assessment period.

Growth Drivers:

• Rising adoption of organic ingredients in personal care & cosmetic products is expected to augment the demand for oleate esters in the market.
• Increasing applications of butyl oleate as a plasticizer for synthetic and natural defoamers, rust inhibitors, and, textile and wetting agent are estimated to favor the growth in the butyl oleate segment.

Restraints:

• Implementation of regulations and ban on the use of polyvinyl chloride across countries such as the U.K., the U.S, India, and others are hindering the demand for oleate esters
• Growing emphasis on decreasing the use of agrochemicals such as fertilizers, pesticides, and herbicides, due to the rising awareness regarding the adverse of these chemicals on soil, is restraining the sales of oleate esters across the agrochemical segment.

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Competitive Landscape:

Leading oleate esters market players are focusing on expanding their production capacity to cater to the surging demand. Also, some of the companies are aiming at entering into strategic collaboration, agreement, and partnership with other players to expanding their global footprint.

For instance,

• In October 2019, Emery Oleochemicals GmbH, a Germany-based manufacturer of based specialty chemicals, announced entering into a distribution agreement with a Swedish distributor of speciality chemical, IMCD Nordic for products such as natural-based lubricants, antistatic, releasing agents, specific plasticizers, and antifogging agents. This has assisted the company to expand customer base in Europe.

Key Companies Profiled by Fact.MR

• P&G Chemicals
• Wilmar International Ltd.
• Kao Corporation
• Emery Oleochemicals
• Victorian Chemical Company
• Italmatch Chemical S.p.A.
• Croda International Plc.
• INEOS Group

More Valuable Insights on Oleate Esters Market

In its latest study, Fact.MR highlights crucial factors steering growth in the global oleate esters market for the forecast period of 2022 to 2032. The study also provides key insights into drivers that are expected to create growth prospects in the oleate esters market through detailed segmentation as follows:

By Type:

• Ethyl Oleate
• Methyl Oleate
• Butyl Oleate
• Trimethylolpropane Trioleate

By Application:

• Lubricants
• Plasticizers
• Agrochemicals
• Cosmetics

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

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Key Questions Covered in the Oleate Esters Market Report

• What is the estimated revenue of the oleate esters market during the forecast period?
• Which are the challenges faced in the oleate esters market?
• Which region is estimated to exhibit fastest growth rate in the global oleate esters market during 2022-2032?
• What is the projected market valuation of the oleate esters market in 2022?
• Which are the factors driving the oleate esters during 2022-2032?
• What is the expected growth rate of the oleate esters market until 2032?

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