Esters Market

An ester is non-hydrocarbon organic compound which contain carbon, hydrogen, and oxygen. The hydrogen compound in carboxyl group is replaced with a hydrocarbon group that are usually formed by the reaction between acid and an alcohol with elimination of water. Esters are more volatile than comparable-sized carboxylic acids, more polar than ethers, and less polar than alcohols.

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 growth of the global esters market. Esters are used in various applications such as paint, plastics, explosives which is 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 for esters 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 growth of the global esters market.

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However, high cost of ester is major factor restraining 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 growth of the global esters market.

The global esters market report has been segmented on the basis of type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Asia Pacific is a dominant player in the global esters market and accounts for 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 for esters in lubricant industry, and in cosmetics in this region.

Prominent players in the global market include, NYCO SA, Esterchem Ltd., DAK Americas LLC, Reliance Industries Limited, Huntsman Corporation, Bayer AG, PMC Biogenix, Inc., Faci Asia Pacific Pte, Stepan Company, and Archer Daniels Midland Company.

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