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Global Esters Market - Forecasts from 2020 to 2025

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  • 134 Pages
  • September 2020
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5174355
The global esters market is projected to grow at a steady pace during the forecasts period.

Esters are known to be derived out of carboxylic acids and alcohol. These give a characteristic fruity fragrance and find extensive use in food flavorings, perfumes and cosmetic applications, essential oils, and others. The market is projected to grow at a significant pace during the forecast period owing to the growing cosmetic and personal care industry. Pleasing fragrances of perfumes make esters a perfect ingredient for the perfume manufacturers. They are also found in hair conditioners, and face creams offering a strong push towards gaining consumer attention and triggering impulse buying. The growing food and beverage industry are further augmenting the market demand with changes in customer dietary requirements. Furthermore, the esters are utilized in paints, solvents, and even explosives. The commonly used esters in the form of explosives are nitrate esters. In addition, esters usually fall under the group of oleochemicals and specialty chemicals. Hence, with the growing demand for chemicals, the demand for specialty chemicals is continuing to grow, and this, in turn, will put a significant impact on the market growth as well. Commonly known esters include ethyl acetate, ethyl propanoate, propyl methanoate, propyl ethanoate, methyl butanoate, and glycerides that are fatty acid esters of glycerol.

Furthermore, the growing trend towards the adoption of natural and eco-friendly products is further providing an impetus in fueling the market growth for esters during the forecast period. One of the major advantages of esters include that they do not leave a greasy residue on a person’s skin, thus, leaves a long-lasting impression of the product. In addition, esters utilized in the form of thickeners provide the desired viscosity, further suggesting the consumers that the product is effective as well as a high-end product.

On the basis of type, the market is segregated into natural and synthetic esters. Natural esters are manufactured from natural sources, like soybean and canola. On the other hand, synthetic esters are prepared through the selection of raw materials giving rise to a finished product as per the specific application.

The present novel coronavirus pandemic scenario has caused an adverse impact on the global chemical industry. This is mainly due to the disruptions in the raw material supply and labour shortages. Significant measures taken to curb further transmission of viral particles has resulted in shutting down of chemical manufacturing facilities and adopting work-from-home measures. Hence, an impact on the production level in comparison to the previous years was noticed. As per the information provided by the National Bureau of Statistics, China, there has been a decline in chemical manufacturing in the country by 20% approximately, as compared to the previous year. Also, a significant decrease in profits was noticed, by around 66%. The COVID-19 pandemic will definitely cause a noteworthy impact on the market growth in a negative manner during 2020.

On the basis of geography, the market is categorized into five regions, namely, North America, South America, Europe, Middle East and Africa, and the Asia Pacific region. The APAC region is predicted to show a substantial market share owing to increasing demand from varied end-use industrial sectors that will continuously demand esters in the form of raw materials and additives for manufacturing of finished goods.

The growing demand for chemicals for end-use applications is projected to contribute to augmenting the market growth during the forecast period.

The surge in demand for chemicals have resulted in innovations that significantly contributed to providing huge economic as well as societal benefits. These include advancements in medical sciences further leading to the enhancement of life span with the development of novel and effective drugs. In addition, other advancements include the creation of innovative and safe agrochemicals contributing to enhancing the crop yields, improved cosmetic products, and many more. As per the information provided by the International Council of Chemical Associations (ICCA), the chemical industry in the North American region contributed close to USD866 billion in the total GDP and provided employment to 6 million individuals in 2017. In the European region, the chemical industry contributed USD1.3 trillion to the total GDP, and supported nearly 19 million jobs. While, in the Middle East and Africa region, the chemical sector contributed around USD550 billion to GDP and supported around 5 million jobs; in the APAC region, it contributed around USD2.6 trillion to GDP, and supported around 83 million jobs. In China alone, the chemical industry contributed around USD1.5 trillion to the total GDP, and supported around 60million jobs. In Latin American and Caribbean, the chemical industry contributed around USD374 billion to the total GDP and offered employment to around 6 million jobs. Additionally, with manufacturers investing in the research and development activities, the market is projected to grow at a significant pace with the growing R&D investments. For example, the Ester Industries, in 2017, announced to invest around Rs.50 crores for establishing a novel research and development center in Gurgaon, India. The company is a manufacturer of polyester films and produces engineering plastic compounds.

Significant product launches by the ester companies are further opportunities for the market to grow in the forecast period.

In 2019, Eastman declared the launching of novel product portfolio of thirteen cellulose esters for utilization in food contact applications. These include inks, internal can, tapes and labels, and adhesives among others. The products are in compliance with the USFDA regulations for certain food contact applications. Also, they fulfill the requirements of the European Commission, Regulation 10/2011, and Swiss Ordinance on Materials and Articles in contact with Food. In addition, the products are manufactured, handled, stored, and transported by the company in accordance with current the good manufacturing practices, cGMP for food contact applications.

In 2020, a company, Kraton Corporation announced the release of its rosin ester technology for manufacturers seeking light, stable, and hot melt formulations consisting of high biobased content. The Revolution ester technology is committed for the development of bio-based products offering light color and oxidative stability, further, contributing to the achievement of sustainability.

In 2020, a specialty pharmaceutical company, ANI Pharmaceuticals declared the release of omega-3-acid ethyl esters capsules, one gram. These are indicated as a supplement to diet for the reduction of triglyceride levels in adult patients suffering from severe hypertriglyceridemia.

Increasing the production capacities by companies is further providing an impetus in fueling the growth of the global esters market during the forecast period.

In 2018, Sun Chemical and DIC Corporation, its parent company, announced to enhance the production capacity of its extreme pressure additives by 6000 tons every year. The surge in production capacity is planned at its environment-friendly plant in Japan. The product, Dailube® extreme pressure additives are utilized for metal working fluids for use in cutting, forming, and rolling. These pressure additives are light in colour and have a low odor, also are available in a variety of chemistries that consist of olefin, lard, ester, and fatty acid.

Perstorp, multinational feed additive manufacturer based in Sweden, in 2019, announced the expansion of its production capacity for organic acids and esters. The enhancement is done owing to the increasing threat of antimicrobial resistance via human and animal nutrition. The company, further predicts that at the present growth rate, antibiotic resistance is capable of causing a greater number of casualties than cancer within a period of 30 years. Hence, this encouraged the company to invest in organic based solutions, mainly the ones based on esters of organic acids. An area of immense potential. Additionally, the increasing population along with the increasing protein consumption demand the next-generation solutions. On the basis of research, the company has proved that its organic acid and ester-based solutions offer remedy to the society’s need for preventing human antibiotic resistance, along with numerous application areas that provide help in reducing the utilization of antibiotics. The company further announced the investment of over €14 million in its feed and food business. This further include a strategic expansion of the main feed and food plant at Waspik, Netherlands. Additionally, there are plans for establishment of satellite production units in the Asian and American regions in order to bring faster, stronger, and highly flexible supply chain to these markets. The company also planned to increase the number of employees in research and development, regulatory affairs, operations, marketing and sales, and supply chain functions by two-folds. Furthermore, the company stated that with investments in solutions for gut health and preservation, it is required to utilize employees having right skills in addition to having passion for agriculture food will help its farm, veterinarian, and nutrition customers from around the globe to benefit from Perstorp’s organic acid and ester-based commodities.

In spite of antibiotics being banned as a growth promoter in the European region since 2006, in addition to being under strict regulations in the United States since 2017, antibiotic resistance is a threat to the public health. On the basis of advanced solutions, the company’s ester technology is geared to provide a unique way for binding acids like butyric, valeric, and propionic acid, and making them much more efficient and safer for use.


By Type
  • Natural Esters
  • Synthetic Esters

By Application
  • Perfumes & Cosmetics
  • Food Flavouring
  • Essential Oils
  • Solvents
  • Others

By Geography
  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • UK
  • Germany
  • France
  • Others
  • Middle East and Africa
  • UAE
  • Israel
  • Saudi Arabia
  • Others
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Others

Table of Contents

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. Global Esters Market Analysis, by Type
5.1. Introduction
5.2. Natural Esters
5.3. Synthetic Esters
6. Global Esters Market Analysis, by Application
6.1. Introduction
6.2. Perfumes & Cosmetics
6.3. Food Flavouring
6.4. Essential Oils
6.5. Solvents
6.6. Others
7. Global Esters Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.2.1. North America Esters Market, By Type, 2019 to 2025
7.2.2. North America Esters Market, By Application, 2019 to 2025
7.2.3. By Country United States Canada Mexico
7.3. South America
7.3.1. South America Esters Market, By Type, 2019 to 2025
7.3.2. South America Esters Market, By Application, 2019 to 2025
7.3.3. By Country Brazil Argentina Others
7.4. Europe
7.4.1. Europe Esters Market, By Type, 2019 to 2025
7.4.2. Europe Esters Market, By Application, 2019 to 2025
7.4.3. By Country UK Germany France Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Esters Market, By Type, 2019 to 2025
7.5.2. Middle East and Africa Esters Market, By Application, 2019 to 2025
7.5.3. By Country United Arab Emirates Israel Saudi Arabia Others
7.6. Asia Pacific
7.6.1. Asia Pacific Esters Market, By Type, 2019 to 2025
7.6.2. Asia Pacific Esters Market, By Application, 2019 to 2025
7.6.3. By Country Japan China India Australia Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. BASF SE
9.2. Esters and Solvents LLP
9.3. Global Green Chemicals Public Company Limited
9.4. Teknor Apex
9.6. Ester Industries Limited
9.7. PMC Group, Inc.
9.9. DuPont
9.10. The Dow Chemical Company

Companies Mentioned

  • Esters and Solvents LLP
  • Global Green Chemicals Public Company Limited
  • Teknor Apex
  • Ester Industries Limited
  • PMC Group, Inc.
  • DuPont
  • The Dow Chemical Company