Esters are those acid derived compounds which contain alkoxy group. These acid can be either organic or inorganic. The product segments of global esters market include fatty acids esters of glycerol, nitrate esters, polyesters and others. This classification is based on the presence of alkyl or aromatic group in these esters. Esters are used in ... Read More
Esters are those acid derived compounds which contain alkoxy group. These acid can be either organic or inorganic. The product segments of global esters market include fatty acids esters of glycerol, nitrate esters, polyesters and others. This classification is based on the presence of alkyl or aromatic group in these esters. Esters are used in the production of surfactants, lubricants, polyesters, biofuels, cosmetics, resins, explosives and other industrial chemicals. Hence, major end-user industries of the global esters market include cosmetics, paper industries, lubricant industries and automobile industries.
Automobile, lubricant and textile industries are globally the leading consumers of the ester market. Naturally-derived esters have served as a good substitute for the petroleum based raw materials in the production of cosmetics. Vegetable oil is the commonly used raw material in this case. Palm, soy and sunflower oil are other potential resources. Being derived from natural resources, their eco-friendly nature has significantly promoted the growth of the global esters market.
Apart from their application in the production of cosmetics, esters are also finding increased use in the production of lubricants. The increased demand of esters in lubricant production can be attributed to their superior quality over other substitutes such as polyalkylene glycol and polyalphaolefins. Moreover, with the expanding automobile market, consumption of lubricants is also rising. This is another major factor responsible for the growth of global esters market.
Another significant application of esters is in polyester production, which in turn have diverse applications such as in packaging, insulation, furnishing, textiles and fabrics. Developing nations have a higher contribution towards the growth of global esters market in comparison to developed nations. This could be due to saturation of end-user markets in the developed nations. Within the developing countries, cosmetics, textiles and automobile industries are the major end-user of the ester market.
However, the production cost of esters may hamper the growth of the current market. Process optimization could be a solution to this issue. Also, the use of esters as bio-fuels has opened up new opportunities for the global esters market. Overall, the market is expanding and has potential for further growth provided the minor constraints such as high production costs are taken care of.
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