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Esters market

Esters Market, By Product Type (Monoesters, Diesters, Complex Esters, and Methyl Esters), By Application (Automotive Lubricant, Industrial Lubricant, Aviation Lubricant, Marine Lubricant, and Food Grade Lubricant), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

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  • Jul 2023
  • CMI3975
  • 120 Pages
  • Excel & Pdf
  • Specialty and Fine Chemicals

Global esters market is estimated to reach around US$ 1,813.4 Million by  2030, in terms of revenue, exhibiting a CAGR of 8.6% during the forecast period (2023-2030).

Global Esters Market: Market Drivers

Rising Demand for Esters from Cosmetic Industry

The growing demand from the cosmetic industry is expected to drive growth in the esters market. The demand for emulsifiers and stabilizers in the personal care and detergent industries is also expected to drive growth in the market for esters. The esters market is expanding alongside the cosmetic industry as a result of the rising demand for cosmetics and personal care products around the world.

Growing Demand for Esters from Food Industry

Increasing use of esters in the food industry as a food additive is expected to drive the market growth. These are largely used in baked food products, ice-creams, and processed food. It stabilizes and thicken the food, and also enhance the texture of the food products. Global ester market is expected to witness growth due to rising demand for processed food products around the globe. For instance, in August 2021, Mitsubishi Chemical Corporation announced the opening of a new sugar ester production facility at its Fukuoka facility. The new facility will increase the company's production capacity in order to meet the rising demand from the food industry, where sugar ester is primarily used.

Global Esters Market: Market Restraints

Lack of Proper Standardization for Food-Grade Lubricants

Lack of proper standardization for food-grade lubricants is expected to hinder the market growth. Moreover, the market is also facing restrictions on the amount of ester additives used in the food industry. All these factors are expected to hinder the market growth.

High Cost of Raw Materials

Fluctuating prices of raw materials used in the preparation of chemically synthesized esters that are produced from petroleum product, and hence volatile price of crude oil affects the overall price of the synthetic esters. This factor is expected to hinder the market growth.

Global Esters Market:  Market Opportunity

Rising Use of Esters in Various Products

Increasing use of esters for niche applications such as solvency and bio-diesel are expected to offer potential growth opportunities for the market players. Bio-diesel derived from fatty acids is considered as an ideal alternative of the conventional crude oil. Moreover, growing demand for specialty and natural esters from various industries is further expected to drive the market growth of the esters.

Esters Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2022: US$ 937.7 Mn
Historical Data for: 2018 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 8.6% 2030 Value Projection: US$ 1,813.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC, South Africa and Rest of Middle East & Africa
Segments covered:
  • By Product Type: Monoesters, Diesters, Complex Esters, Methyl Esters
  • By Application: Automotive Lubricant, Industrial Lubricant, Aviation Lubricant, Marine Lubricant, Food Grade Lubricant
Companies covered:

BASF SE, Exxon Mobil Corporation, NYCO S.A., Hatco Corporation, Calumet Specialty Products Partners, L.P., PMC Biogenix, Inc., Cargill, Inc. and Croda International, Plc.
Growth Drivers:
  • Growing demand for esters from the cosmetic industry
  • Increasing use of esters in the food industry as a food additive
Restraints & Challenges:
  • Lack of proper standardization for food-grade lubricants
  • High cost of raw materials

Inclusion of Esters by Paint Industry

Growing demand for eco-friendly ester from the paints industry is expected to provide potential growth opportunities to the market. Increasing demand for esters are in from packaging industry is expected to drive the market growth. Moreover, increasing adoption of environmentally acceptable lubricants (EAL) is further anticipated to drive the market growth of the esters over the forecast period.

Global Esters Market:  Market Trends

Adoption of Esters by Aviation Industry

Launch of aviation lubricants for gas turbines that operates up to 300°F is expected to be a major trend in the market. Dioctyl sebacate and dibasic acid esters are two major aviation lubricants that are used by aviation industry. Rising use of thick multi-grade lubricants to thin synthetic lubricants is another major trend due to growing demand for durable and fuel-efficient lubricants. All these factors are expected to drive the market growth. Increasing production capacity of the esters by manufacturers, in order to meet the global demand is expected to be a major trend.

Global Esters Market: Key Developments

In January 2023, a Chemical company BASF SE, has made its initial financial information for the entire year 2022 available. The projected 2022 sales of US$95, 231 million and operating income (EBIT) of €7, 531 million before special items are in line with BASF's forecast ranges and the level of analyst consensus estimates

In May 2023, Montana Renewables, LLC (MRL), an unrestricted subsidiary of Calumet Specialty Products Partners, L.P., hosted significant aviation stakeholders, including Montana Governor Greg Gianfort, as part of a multi-year agreement with Shell Trading (US) Company ("Shell"), to commemorate the first production and initial shipments of sustainable aviation fuel (SAF). As soon as production begins, Montana Renewables surpasses all other producers of SAF in North America.

In May 2023, the company that develops, produces, and sells specialty chemicals, Croda International Plc (Croda), has signed two new partnership agreements. The first partnership is a contract for an exclusive license with Amyris, a major synthetic biology company. The second partnership is with Botanical Solutions Inc. (BSI) to create a QS-21 vaccine adjuvant of pharmaceutical grade. These agreements will help the pharmaceutical industry create a more sustainable vaccine adjuvant supply chain.

In November 2022, Food Warming Equipment Company, Inc. (FWE), a manufacturer that specializes in heated holding cabinets, cook & hold ovens, smokers, refrigerated cabinets, transport carts, and others, was acquired by Hatco Corporation, a U.S.--based company which provides Commercial Foodservice & Restaurant Equipment. 

Global Esters Market: Regional Analysis

Figure 1. Global Esters Market Share (%), in terms of Value, By Region, 2022

Among region, Asia Pacific dominated the global esters market with a 33% revenue share, followed by Europe and North America, in 2022. The rapid growth of the end-use industries, the low cost of raw materials, and the increase in consumer awareness are primary drivers.

Global Esters Market: Segmentation

Based on product type, the global esters market is segmented into complex esters, methyl esters, diesters, and monoesters. In 2022, complex esters segment dominated the market with 35% of the revenue share followed by methyl esters and diesters.

Figure 2. Global Esters Market Share (%), By Product Type, 2022

Global Esters Market-Impact of Coronavirus (COVID-19) Pandemic

Esters are used as lubricants in different industries such as automotive, aviation, marine, and food. The COVID-19 pandemic had negatively affected the automotive, aviation, and marine industries. For instance, in 2020, according to the European Automobile Manufacturers’ Association (ACEA), in the European Union (EU), the total sales of new vehicles in the first two months of 2020 were 7.4% less than the same period in the 2019. The major countries in the EU that faced decline in demand in 2020 were Germany, France, Italy, and Spain. Demand for automotive lubricants is falling as a result of the downturn in the automotive industry forced on by the spread of Covid-19. 

Global Esters Market: Key Companies

Key Companies operating in global esters market are BASF SE, Exxon Mobil Corporation, NYCO S.A., Hatco Corporation, Calumet Specialty Products Partners, L.P, PMC Biogenix, Inc., Cargill, Inc. and Croda International, Plc.

*Definition: Esters are produced from organic or inorganic acids by dehydration with the alcohol process. It contains a carbonyl group adjacent to the ether linkage. Nitrate esters, acid esters of glycerol, and polyesters are some of the major types of esters. Oils, fats, and triglycerides are some of the types of naturally occurring esters. These are widely used in cosmetics, lubricants, plastics, resins, bio-fuel, explosives, and surfactants.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTERS’S Analysis
      • New Product Approvals/Launches
      • Promotion and Marketing Initiatives
  4. Global Esters Market - Impact of Coronavirus (COVID-19) Pandemic
    • COVID-19 Epidemiology
    • Supply Side and Demand Side Analysis
    • Economic Impact
  5. Global Esters Market, By Product Type, 2023 – 2030, (US$ Million & Thousand Tons)
    • Introduction
      • Market Share Analysis, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, 2023-2030
      • Segment Trends
    • Monoesters
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Diesters
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Complex Esters
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Methyl Esters
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
  6. Global Esters Market, By Application, 2023 – 2030, (US$ Million & Thousand Tons)
    • Introduction
      • Market Share Analysis, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, 2023-2030
      • Segment Trends
    • Automotive Lubricant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Industrial Lubricant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Aviation Lubricant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Marine Lubricant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • Food Grade Lubricant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
  7. Global Esters Market, By Region, 2023-2030, (US$ Million & Thousand Tons)
    • Introduction
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, and Y-o-Y Growth, 2023-2030, (US$ Million & Thousand Tons)
    • North America
      • Market Share Analysis, By Country, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, For Country, 2023-2030
        • U.S.
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
    • Latin America
      • Market Share Analysis, By Country, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, For Country, 2023-2030
        • Brazil
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Rest of Latin America
          • Sub-region/Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
    • Europe
      • Market Share Analysis, By Country, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, For Country, 2023-2030
        • France
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • U.K.
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, For Country, 2023-2030
        • China
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • India
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2023 and 2030 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2023-2030
        • GCC
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030, (US$ Million & Thousand Tons)
          • Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2023-2030, (US$ Million & Thousand Tons)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • BASF SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Exxon Mobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • NYCO S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Hatco Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Calumet Specialty Products Partners, L.P.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • PMC Biogenix Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Cargill, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Croda International, Plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

 

  • Global Esters Market, By Region:
    • North America
      • U.S.
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Canada
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
    • Latin America
      • Brazil
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Mexico
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      •  Rest of Latin America
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
    • Europe
      • France
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Germany
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • U.K.
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Italy
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Spain
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Russia
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Rest of Europe
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
    • Asia Pacific
      • China
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Japan
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Australia
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • India
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • South Korea
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Rest of the Asia Pacific
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
    • Middle East & Africa
      • GCC
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • South Africa
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
      • Rest of Middle East & Africa
        • By Product Type
          • Monoesters
          • Diesters
          • Complex Esters
          • Methyl Esters
        • By Application
          • Automotive Lubricant
          • Industrial Lubricant
          • Aviation Lubricant
          • Marine Lubricant
          • Food Grade Lubricant
- Frequently Asked Questions -

What will the market size be in 2030 and at what rate will it grow?

Global esters market is estimated to surpass US$ 1,813.4 Million by 2030, exhibiting a CAGR of 8.6% between 2023 and 2030.

What are the major growth driving factors for the market during the forecast period?

Growing demand for esters in cosmetic industry and the increasing use of esters in food industry as a food additive are expected to drive the market growth.

What is the compound annual growth rate (CAGR) of the market during the forecast period (2023-2030)?

The market is expected to exhibit a CAGR of 8.6% during the forecast period (2023-2030).

Who are the prominent players in the market?

Key Companies are BASF SE, Exxon Mobil Corporation, NYCO S.A., Hatco Corporation, Calumet Specialty Products Partners, L.P, PMC Biogenix, Inc., Cargill, Inc. and Croda International, Plc.

What are the key factors hampering the growth of the market?

Lack of proper standardization for food-grade lubricants and the volatile prices of raw materials can hamper growth of the market during the forecast period.  
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