Esters Market Grows On Back Of Bio-Based Alternatives, Says FMI

VALLEY COTTAGE, N.Y. – Consumption
of esters has been significantly growing in across sectors on back of
multi-functional properties. Ester-based fluids, including phosphate esters are
being utilized in fire extinguishing lubricants for multi-fuel gas turbines,
and steel mills hydraulic fluids. In addition, phosphate esters deliver high
resilience against compression in hydro-electric servo systems. Silicate esters
are being considerably utilized for low-temperature refrigeration compressor
lubrication owing to great low-temperature aspects.

On the contrary, application of esters in oil- and water-based lubricants is facing wrath of regulatory bodies due to release of harmful VOCs (Volatile Organic Compound) and particulate matter. As such, manufacturers are shifting towards bio-based alternatives, such as sucrose esters, and fatty acid esters.

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East Asia and Europe represent major portion of esters market against the backdrop of growing chemicals, and food & beverage sectors. In its new business intelligence study, FMI estimates that esters market is estimated to exceed US$ 75 Bn by 2019 end, and is anticipated to progress at a promising CAGR of ~5% over forecast period (2019 – 2029).

Demand Upsurge as Solvent in Food &
Beverages

FMI observes surging adoption of esters as solvents, especially in food & beverages industry. Esters, such as ethyl acetate, are utilized to derive organic solutes from aqueous liquids, for instance, removing caffeine from coffee. Consumers are preferring food and drinks that impart unique flavors. As esters reveal fruity smell, they are used as food additives for adding exotic flavors to beverages, and bakery products.

Preview Analysis of 2019 Analysis and Review of Easters Market by Product – Dibasic Esters, Polyol Esters, Methyl Esters, Nitrate Esters, Vinyl Esters, Phosphate Esters, Acrylic Esters, Sucrose Esters, and Fatty Acid Esters for 2019 – 2029:https://www.futuremarketinsights.com/reports/esters-market

This
study finds that the growing industry of food & beverages reflect the need
for further innovation, particularly in taste, and odor. As such, esters are
set to gain prominence as a solvent in various formulations.

Vital Ingredient in Automotive Lubricants

Esters are characterized by low temperature fluidity and clean operation at escalated temperatures, which make them highly preferred base stock in formulating lubricants. In addition, esters aid in enhancing overall mechanical efficacy. As conventional lubricants are facing backlash from various organizations, esters have emerged as perfect environmentally-friendly alternative.

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Automotive
industry across the globe is poised to witness significant uplift. Elevated
production of automobiles echo rising need for automotive lubricants.
Accompanied by regulatory norms to curb carbon footprint, demand for esters in
lubricants is set to increase owing to biodegradable properties.

Analysts at FMI suggest that “Esters offer plethora of benefits, such as greater spreadability, and less pour point, making them ideal for application in various industries, including food, cosmetics, and manufacturing. However, strict government regulations regarding usage of esters due to toxic emission is hindering market growth.”

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