U.S. Esters Market Size, Share & Trends Analysis Report By Product (Fatty Esters, Phosphate Esters, Acrylic Esters, Cellulose Esters, Allyl and Aromatic Esters), By Application, And Segment Forecasts, 2019 - 2025
The U.S. esters market size is expected to reach USD 4.99 billion by 2025, registering a CAGR of 4.8%, as per a new report by Grand View Research Inc. Esters are extensively used in cosmetics to increase the smoothness and stability of the product. They are replacing numerous animal-based and toxic chemicals in creams, lotions, infant care solutions, and other personal care products, which is propelling the demand for esters massively.
Major corporations that are dominant in North America are shifting their FAE production capabilities to cater to high potential markets in Western Europe, Southeast Asia, and South America.This dynamic is likely to drive consumption in the respective regions.
Growing governmental support in the form of tax incentives to shift away from the utilization of conventional fossil fuels to biofuels & renewable resources is another major driver for the FAE market.
Expansion in the commercial sector coupled with ongoing investments in highway & street development is projected to boost acrylate applications in these sectors. Favorable initiatives, such as MAP-21, had a significant contribution in driving construction spending in surface transportation projects such as bridges, transit systems, and highways.
The industry participants are inclined towards the development of innovative products, and packaging related solutions for the esters market. Recent innovations include the development of a unique heated tote to proficiently manage sterol esters, which are to be used in creamy products as butter spreads while packaging, to decrease wastage and promote cost savings.
Further key findings from the report suggest: • There is an upsurge in the demand for fatty esters, which is derived from vegetable-based sources, owing to their biomass content, which is likely to give a massive hype to the esters market in the U.S. • R&D activities in the field of esters have resulted in the expansion of fatty esters that are used for their thickening and solvency properties, which has eventually helped in increasing the demand for U.S. esters market • Organic phosphorous works as an anti-wear additive, stabilizer, antioxidant, extreme-pressure additive and metal passivators in lubricant formulations, which is increasing the reach of organic phosphorous in the developing economies • The non-toxic nature of acrylic esters is responsible for increasing the growth and adoption rate in various industries and is used as building blocks for industrial polymers • High consumption applications operating for prolonged hours are dependent on lubricants owing to their low cost along with the multipurpose lubricants that have further gained prominence in non-reservoir applications such as lubricating pistons and cylinders, is restraining the growth of the market
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