Oleate Esters Market
REPORT DESCRIPTION
Oleate Esters Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016- 2024
The global market for oleate esters demonstrates a highly competitive landscape, thanks to the intense rivalry between leading players, such as Wilmar International Ltd., Procter & Gamble, and Croda International Plc., finds a research study by Transparency Market Research( TMR). These participants are continuously making efforts to improve profitability by increasing their production capacities. Going forward, a shift in the focus of these companies towards strategic partnerships to increase their visibility can be observed, states the research report.
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The study reports that the global market for oleate esters, which offered an opportunity worth US $ 1.4 bn in 2015, is projected to expand at a CAGR of 4.80 % during the period from 2016 to 2024 and reach a value of US $ 2.2 bn by the end of the forecast period. In terms of volume, the market is estimated to rise at a CAGR of 4.10 % over the same time period. Ethyl oleate has emerged as the most demanded product in this market. Thanks to the increasing usage of ethyl oleate in various applications, such as lubrication, this segment, progressing at a CAGR of 5.10 % between 2016 and 2024, is expected to continue as market leader throughout the forecast period.
Easy Availability of Raw Materials to Ensure Asia Pacific’ s Leadership
North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific have been identified as the main regional markets for oleate esters in this report. Among these, North America and Asia Pacific are registering a higher growth in their respective markets for oleate esters than other regional markets, thanks to the presence of a number of large production facilities. The increasing number of industries using oleate esters is also adding to the growth of this market in these regions.
With nearly 33 % of the overall market, Asia Pacific surfaced as the leading contributor to this market in 2015. Supported by the easy availability of raw materials for oleate esters, together
Transparency Market Research
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