Global Oleate Esters Market to Reach $2.1 Billion by 2026

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Editing: 9; Published: February 2022
Executive commitments: 423
Companies: 33 – Players covered include Acme Synthetic Chemicals; CHS Endustriyel Urunler San. Tic. LIKE; Ecogreen Oleochemicals (Singapore) Pte., Ltd. ; Hebei Jingu Plasticizer Co., Ltd. ; Italmatch Chemicals SpA; Kao Corporation; Kowa India Pvt.Ltd. ; Kuala Lumpur Kepong Berhad; Procter & Gamble Company, The; Victorian Chemical Company Pty., Ltd. ; Wilmar International Ltd. and others.
Blanket: All major geographies and key segments
segments: Product (Ethyl Oleate, Methyl Oleate, Butyl Oleate, Tri-Methylolpropane Trioleate (TMPTO)); Application (lubricants, plasticizers, agrochemicals, cosmetics, other applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.

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Global Oleate Esters Market to Reach $2.1 billion by 2026
Representing salts or esters of oleic acids, oleate esters are obtained from the reaction of oleic acids and alcohol in the presence of specific catalysts. Derived from natural sources such as animal fats or vegetable oils, especially soybean, palm, and canola oils, oleate esters enjoy high preference over their chemical counterparts. Oleate esters include different products like TMPTO, methyl oleate, ethyl oleate, butyl oleate and others. These compounds are consumed in various industrial applications such as agrochemicals, pharmaceuticals, cosmetics, personal care, and the food and beverage industry. The global oleate esters market is supported by strong demand across all sectors and the use of natural materials that make them safe and stand out from chemicals in terms of toxicity and side effects. Oleate esters benefit from a notable expansion of the agrochemical industry. Booming population and growing demand for food grains along with various merits of agrochemicals are poised to drive the demand for oleate esters. The market is taking advantage of shrinking arable land and climate change, prompting growers to use more fertilizers and pesticides to increase crop yields.

Amid COVID-19 crisis, Global Oleate Esters Market Estimated at US$1.8 billion in 2022, is expected to reach a revised size of US$2.1 billion by 2026, growing at a CAGR of 4.9% over the analysis period. Ethyl Oleate, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.5% to reach 1 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the methyl oleate segment is readjusted to a revised CAGR of 4.8% for the next 7-year period. This segment currently represents a 27.5% share of the global market for oleate esters.

The US market is estimated at $450.9 million in 2022, when China is expected to reach $407.3 million by 2026
The oleate esters market in the United States is estimated at US$450.9 million in 2022. The country currently accounts for a 25.86% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$407.3 million in 2026 with a CAGR of 6.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 3.4% and 3.7% respectively over the analysis period. In Europe, Germany is expected to grow around 3.9% CAGR while the rest of the European market (as defined in the study) will reach US$436.3 million at the end of the analysis period.

In Asia Pacific growth is supported by numerous production sites, easy access to raw materials and increasing investment in R&D activity. The market receives a notable contribution from India and China due to their strong agrochemical industry coupled with high consumption of fertilizers and pesticides. The market for oleate esters in Middle East & Africa should benefit from easy access to the main raw materials. The region is known for the large-scale cultivation of palm plantations which are effective feedstocks for the production of different types of oleate esters.

The market is also poised to be propelled by strong demand for lubricants owing to the expansion of automotive and aerospace industries. Oleate esters set to benefit from increased consumption in US cosmetics and personal care sector

Butyl oleate segment to reach $302 million by 2026
In the global butyl oleate segment, United States, Canada, Japan, China and Europe will drive the CAGR of 4.1% estimated for this segment. These regional markets representing a combined market size of US$178.6 million will reach a projected size of US$237.1 million at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$39.6 million by 2026, while Latin America will grow at a CAGR of 4.8% over the analysis period. Continued

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