Global Oleate Esters Market 2019 By Regional Trend,
Revenue & Growth Forecast: Global Market Insights
Inc.
According to new Global Market Insights, Inc, chemical research report Oleate Esters
Market size is expected to grow steadily during the forecast time span. The products
are synthesized by the condensation of alcohol and oleic acid and has several
industrial end-uses including agrochemicals, lubricants, adhesives, and additives.
The oleate esters market will be driven by flourishing agrochemical industry during the
forecast time span. Increasing demand for food grains due to rising population and
rising awareness about the advantages of agrochemicals will increase the product
demand in future. Moreover, factors such as limited agricultural land sizes and
continuously changing climate conditions are compelling farmers to increase yield with
the usage of pesticides and fertilizers. China and U.S. are the two leading countries in
terms of pesticide consumption. In 2014, worldwide pesticides exports accounted for
around USD 34.9 billion, whereas it has increased to USD 36.5 billion in 2018,
registering a growth by more than 4.5% from 2017 to 2018. China, Germany, U.S.,
France and India were the top five pesticide exporters, contributing to more than half
of the worldwide pesticide exports in 2018. The agrochemical industry shows
promising future trends, thereby facilitating the growth of oleate esters market in
upcoming years.
Oleate esters are used as a lubricant and plasticizer in a wide range of applications.
According to a report published by Fuchs Petrolub SE, global lubricant demand
increased by 1% to reach 36.1 million tons in 2018 over the demand of 35.7 million
tons for the year 2017. The demand for lubricants is increasing due to large scale
applications in manufacturing, automotive, aerospace and other industrial sectors.
This in turn will spur the market growth of oleate esters within the forecast period.
Rising demand for polyvinyl chloride will create positive outlook for the plasticizer
industry, and favorable trends associated with plasticizer industry will propel the
product market from 2019 to 2025. However, the market growth will be affected by
high production costs.
Based on type, oleate esters market is classified into methyl, ethyl, butyl and other
oleates. Methyl oleate is a fatty acid methyl ester produced by the formal condensation
of oleic acid and methanol. It occurs in liquid form and is insoluble in water. It is used
in agricultural chemicals, lubricants, personal care products, water treatment products,
etc. Ethyl oleate is a derivative of oleic acid produced by its condensation process of
ethanol. It is a long chain fatty acid ethyl ester produced in the body due to ethanol
intoxication.
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