The U.S. esters market is expected to reach USD 4.34 billion
by 2022, according to a new report by Grand View Research, Inc. Growing
consumer awareness towards bio-based ingredients in cosmetic and surfactants
sector is expected to play a key role in driving industry growth over the next
seven years. Surging fatty acid and allyl & aromatic esters demand can
be attributed to growing personal care industry in the U.S. In addition,
chemical functions such as stabilization of colloidal dispersions and
detergency have contributed to its significant demand in cosmetic and soap
applications.
The U.S. esters market was valued at USD 3.16
billion in 2015. Growing demand for emulsifiers and stabilizers in personal
care and detergent sectors is expected to drive product demand over the
forecast period. In addition, hydraulic stability and lubricity of phosphate
and fatty acid derivatives are further anticipated to drive industry growth
over the forecast period.
Esters used in synthetic
lubricants play a pivotal role in the country’s economy where hydrocarbon
E&P contributes a major share to the economy. Synthetic ester lubricants
have gained prominence over the past few years owing to their affinity for
metal surfaces and high viscosity index. These product attributes to enhance
the lubricity that subsequently minimizes sludge deposits and engine fouling.
Acrylic
esters emerged as the leading product segment with demand share estimated at
42.3% in 2014. High penetration of this segment can be attributed to methyl
acrylate that has significant demand in coatings, adhesives, sealants, and
elastomers (CASE) application. CASE segment was valued at 172.9 million in
2014. In addition, it is also used in producing woven & non-woven textiles,
inks, pressure sensitive adhesives, leather finish, and plastics.
Fatty
esters emerged as the second major contributor to industry growth in 2014.
Growth in this segment can be attributed to surging demand for glycerol
monostearate (GMS) in food additive and personal care industries. GMS demand in
the U.S. is estimated to reach 180 kilo tons by 2022. Growing demand for
seasonings and confectionary in various public gatherings and festivals is
expected to drive GMS demand over the next seven years.
Access Research Report of U.S. Esters Market @ http://www.grandviewresearch.com/industry-analysis/us-esters-market
Further key findings
from the report suggest:
· The
U.S. esters market demand was 1,481.0 kilo tons in 2014 and is expected to
reach 2,073.5 kilo tons by 2022, growing at a CAGR of 4.3% from 2015 to 2022.
· Cellulose
esters are anticipated to emerge as the fastest growing product segment and
reach a net demand of 255.2 kilo tons by 2022.
· Lubricants
segment is expected to emerge as the largest application for phosphate esters
and is projected to grow at an estimated CAGR of 3.7% over the forecast period.
· Medium
chain triglycerides (MCT) are estimated to emerge as fastest growing fatty acid
ester owing to surging demand in dietary and medical supplements. MCT demand in
dietary supplement is expected to reach USD 83.5 million by 2022.
· Key
players operating in the industry include Arkema, Lanxess, Dow Chemical,
Chemtura, and DuPont that have integrated the raw material processing and ester
production. Other major industry participants include Rotuba, Elementis
Specialties, Polymer Plastics Co. LC, PMC Biogenix, Croda International,
Valtris Specialty Chemicals, Innospec, and LG Chem.
Grand
View Research has segmented the U.S. esters market on the basis of product:
U.S. Esters Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2022)
·
Fatty esters
·
Phosphate esters
·
Acrylic esters
·
Cellulose esters
·
Allyl & aromatic
esters
·
Others
Access Press Release of
U.S. Esters Market@ https://www.grandviewresearch.com/press-release/us-esters-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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