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.
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
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.
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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