The global ester market is predicted to grow at a healthy CAGR between 2022- 2030, according to the new report by Market Research Future (MRFR). Ester, simply put, is a non-hydrocarbon organic substance, which is derived from the reaction amid alcohol and carboxylic acid. This is obtained either from synthetic or natural means. Ester has wide applications in sizing agent, binder, oil additive, adhesive, and others.
Various factors are adding to the global Ester Market. According to the new MRFR report, such factors include growing consumption of lubricants, increasing building and construction activities, increasing investment in personal care products, especially in developing and developed regions, and rising population. Additional factors adding market growth include booming automotive sector, rising mining activities in developing countries, and improving construction industry.
On the contrary, a comparatively higher cost of production and complex processing may limit the global ester market growth over the forecast period.
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Eminent Players Profiled In The Global Ester Market Report Include=
Fushun Anxin Chemical Co.
NOF CORPORATION. (Japan)
U-PICA Company.Ltd. (Japan)
Sigma-Aldrich Co. LLC. (U.S.)
BASF SE (Germany)
Huntsman International LLC (U.S.)
Esterchem Ltd. (U.K)
DAK Americas (U.S.)
and Ashland (U.S.).
The MRFR report gives an inclusive segmental analysis of the global ester market report based on end use industry, application, and source.
By source, the global ester market is segmented into synthetic and natural.
By application, the global ester market is segmented into sizing agent, binder, oil additive, adhesive, and others. Of these, the oil additives segment will lead the market over the forecast period. Burgeoning demand for lubricants that are ester-based from different end use industries is adding to the growth of the segment.
By end use industry, the global ester market is segmented into construction, pulp and paper, paint and coatings, lubricant, cosmetic and personal care, and others. Of these, cosmetic and personal care lubricant together will dominate the market over the forecast period. Increasing consumption of personal care products like conditioners, shampoos, lotion cream, and rising production and sales of automotive are adding to the growth of the segment. This will be followed by the construction segment, which is predicted to have significant growth over the forecast period for the surge in renovation and maintenance work in commercial residential buildings and also onsite application.
Based on the region, the global ester market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), Latin America, the Middle East and Africa. Of these, the APAC region will lead the market over the forecast period. Growth of different end use industries like paints and coatings, automotive, and construction, high adoption rate from these industries, and rapid industrialization in Singapore, Japan, Bangladesh, Australia, China, Malaysia, Taiwan, Thailand, India, and South Korea are adding to the ester market growth in the region.
The global ester market in North America is predicted to hold the second-largest share over the forecast period. Rising investments to revitalize the paints coatings construction sector, coupled with the recovery of the industrial sector are adding to the ester market growth in the region. The US has the maximum share in the region, followed by Canada for the expanding textile industry and rising consumption of cosmetic and personal care products.
The global ester market in Europe is predicted to have healthy growth over the forecast period. Expanding personal care industry, coupled with the booming automotive sector, is adding to the ester market growth in the region. France, the UK, Spain, and Germany have the maximum share in the region.
The global ester market in Latin America is predicted to have notable growth over the forecast period. The strong presence of top cosmetic brands and increasing expenditure on personal care products are adding to the ester market growth in the region. Venezuela, Colombia, Brazil, and Mexico have the maximum share in the region.
The global ester market in the MEA is predicted to have sound growth over the forecast period. Increasing consumption of explosives that are ester-based and rising mining activities is adding to the ester market growth in the region. Saudi Arabia, Turkey, the UAE, and Qatar have the maximum share in the region.
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