The Global Ester Market is projected to be worth USD 127.45 Billion by 2030, registering a CAGR of 5.25% during the forecast period (2022 - 2030).

Ester Market Overview:

Ester is a non-hydrocarbon chemical compound formed by the interaction of carboxylic acid with an alcohol. It can be obtained either naturally or synthetically. The naturally occurring ester is primarily generated from seed oils like rapeseed, soya bean, and sunflower. Synthetic esters have a low pour point and great oxidation stability, making them useful in a variety of applications such as oil additives, adhesives, sizing agents, and binders. It is then utilized in a variety of end-use sectors, including lubricants, paints and coatings, pulp and paper, cosmetics and personal care, construction, and so on.

The global ester market is driven by expanding construction activity, increasing demand for the ester as a sizing agent in paper and pulp, and the defense sector's continued expansion. Furthermore, increasing mining-related activities leads to increased explosives usage, which is expected to fuel nitrate ester demand over the assessment period. Over the forecast period, demand for the ester is expected to be driven by expanding population and rising consumption of packaged food and beverage. Furthermore, in the textile business, several forms of ester are utilized as a textile finishing agent or binder. As a result, the worldwide ester market offers a profitable prospect thanks to the textile industry's continued growth.

Ester Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Ester Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In September 2020, Clariant, one of the leading suppliers of sustainable ingredients and solutions for the industrial lubricants segment, launched a new next generation phosphate ester for metal working formulations based on renewable sources.
• In August 2021, Mitsubishi Chemical Corporation announced the launch of a new sugar ester production facility at its Fukuoka plant. The new facility will increase the company’s production capacity to meet the rising demand from the food sector where it (sugar ester) is mostly utilized.
• In August 2021, LANXESS completed the acquisition of Kalama Chemicals to expand and strengthen its portfolio for industrial applications.

Major Market Segments Covered in Ester Market Industry Research:

Market Key Players:
Ashland (U.S.),  DAK Americas (U.S.), Esterchem Ltd. (U.K),  Huntsman International LLC (U.S.),  BASF SE (Germany), Evonik (Germany),  Sigma-Aldrich Co. LLC. (U.S.), U-PICA Company.Ltd. (Japan), Michelman Inc. (U.S.), NOF CORPORATION. (Japan),  Fushun Anxin Chemical Co. Ltd. (China).

By Type:

• Natural
• Synthetic

By Application:

• Adhesive
• Oil Additive
• Binder
• Sizing Agent
• Others

By End-Use Industry:

• Cosmetic & Personal Care
• Lubricant
• Paint & Coatings
• Pulp & Paper
• Construction

By Region:

The East Asia esters market is projected to account for 26.7% of the total market share in 2022, with china emerging as a lucrative pocket over the forecast period.

Over the last few years, China has gradually turned into a global leader in automotive and chemical production. Rapid expansion of these end-use industries is anticipated to boost the sales of esters.

Esters are being extensively used for formulating various lubricants due to their benefits including low cost, easy availability, high-performance and low environmental impact. The country is among the leading producers and consumers of esters and has a well-established base of manufacturing giants.

Moreover, growing adoption of esters in food and cosmetic industries will further expand the ester market in the country during the forecast period.

The U.K. market is primarily driven by rising demand for ester from end-use industries such as food & beverages, cosmetic & personal care and chemicals. A market share of over 23.9% has been projected for the Europe ester market spearheaded by the U.K. in 2022.

Changing lifestyle patterns, along with increasing disposable income is creating a strong demand for personal care and cosmetic products in the country. This is positively impacting the sales of esters.

Esters are being extensively used in cosmetics and other personal care products to increase smoothness and stability. They are replacing numerous animal-based and toxic chemicals used in lotions, creams, infant solutions, and several other cosmetic products.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Significant Market Dynamics:

Drivers

The esters market is expected to develop due to increasing demand from the cosmetics sector. Growing demand for emulsifiers and stabilizers in the personal care and detergent industries is expected to boost the esters market as well. As demand for cosmetics and personal care products increases worldwide, the esters market is also growing along with the cosmetics sector.

The market growth of esters is expected to benefit from their expanding use as food additives in the food industry. They are mainly used in processed foods, ice cream and baked goods. It improves the texture of food by stabilizing and thickening it. Global demand for processed foods is another factor contributing to the expansion of the ester market.

Manufacturers can produce a full range of lubrication products for a specific environment or application. This has emerged as a critical factor in addressing performance and environmental challenges. There are many ester-based fluids and lubricants on the market today that not only provide good performance but also have no impact on the environment. For example, phosphate esters and silicate esters are several types of ester-based fluids that are frequently used as lubricating oils, hydraulic oils, lubrication additives, and flame retardant lubricants. Silicate esters are widely used for lubricating low-temperature refrigeration compressors because of their good low-temperature properties. As a result, the global esters market is expected to experience strong growth during the forecast period.

In addition, rapid industrialization and urbanization along with growing demand for ester derivatives such as polyesters significantly accelerate the growth rate of the global esters market. Additionally, increasing installations of modern machinery in numerous industries are helping the esters market to see expanded growth in lubricants. Rapid growth and expansion of industries such as automotive and construction are expected to boost the growth of the market. Esters are basic raw materials for the formulation of lubricants in the automotive, aerospace and general manufacturing sectors because they provide low-flow capability and clean operation at high temperatures.

Opportunities

Additionally, increasing adoption of environmentally acceptable lubricants (EALs) expands lucrative opportunities for market participants over the forecast period of 2022 to 2029. Additionally, advancements in technology, such as the introduction of automation and increasing adoption of modern machinery, Industry 4.0 will further augment the future growth of the esters market.

Restraints/Challenges

Market expansion of esters is expected to be constrained by the lack of adequate standardization for food grade lubricants. There are also limits to the amount of ester additives that can be used in the food sector. All these issues are expected to hinder market expansion.

The overall cost of synthetic esters is influenced by fluctuating crude oil prices and the raw materials used to prepare chemically synthesized esters made from petroleum products. These aspects are expected to challenge the ester market growth rate.

Ester Market report scope:

Key Takeaways from this Ester Market Report

• Estimate Ester Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Ester Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Ester Market?

The Ester Market is growing at a CAGR of 5.25% During Forecast Period.

 What are the key types of Ester Market?

Natural, Synthetic

What are the key applications of Ester Market?

Adhesive, Oil Additive, Binder, Sizing Agent, Others                            

Who are the key players in Ester Market?

Ashland (U.S.),  DAK Americas (U.S.), Esterchem Ltd. (U.K),  Huntsman International LLC (U.S.),  BASF SE (Germany), Evonik (Germany),  Sigma-Aldrich Co. LLC. (U.S.), U-PICA Company.Ltd. (Japan), Michelman Inc. (U.S.), NOF CORPORATION. (Japan),  Fushun Anxin Chemical Co. Ltd. (China).