The Global Esters Market report 2018-2027 has been prepared By MarketResearch.Biz, based on a deep market analysis with inputs from industry experts. This report covers the market landscape, size, key players, segmentation, production, revenue and its growth prospects for the upcoming years.
An ester is a non-hydrocarbon organic compound which contains carbon, hydrogen, and oxygen. The hydrogen compound in carboxyl group is replaced with a hydrocarbon group that is usually formed by the reaction between an acid and an alcohol with elimination of water. Esters are more volatile than comparable-sized carboxylic acids, more polar than others, and less polar than alcohols.
Esters Market Outlook:
Esters have good fragrant odors which are used as an ingredient in perfumes, food flavorings, essential oils, cosmetics, etc. which is a key factor driving the growth of the global esters market. Esters are used in various applications such as paint, plastics, explosives which are major factor expected to fuel growth to the global esters market over the forecast period. In addition, increasing demand for phosphate and silicate esters from aviation and lubricant industries, and increasing demand foresters for the production of polyesters, synthetic fabrics, and used as food additives to improve the flavor and smell of processed foods these are other major factors anticipated to boost the growth of the global esters market.
However, the high cost of the ester is a major factor restraining the growth of the global esters market. In addition, high production cost, complex processing, and increasing prices of raw materials are some other factors expected to hamper the growth of the global esters market.
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Global esters market segmentation by type:
- Complex Esters
- Methyl Esters
Global esters market segmentation by application:
- Food Grade
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Esters Market by Region:
The Asia Pacific is a dominant player in the global esters market and accounts for the highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to high consumption and production of esters in the region, and availability of raw materials at lower cost. North America accounts for the second largest revenue share contribution to the global esters, owing to factors such as increasing demand foresters in the lubricant industry, and in cosmetics in this region.