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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