U.S. Esters Market is estimated to grow significantly in the forecast period owing to the increase in demand for stabilizers and emulsifiers from personal care segment. Esters are the organic compounds that produce organic or inorganic acids when reacted with water. Esters possess properties like flexibility and low polarity and are more volatile than the equivalent amides. Esters are widely used as aromas in different fruits, pharmaceutical items and personal care products like shampoos.
U.S. esters market is witnessing growth due to factors like developments and innovations in surfactants, lubricants, pesticides and others, economic developments, growing population that demands personal care products and growing industrialization. Esters are extensively used in synthetic lubricants, which ultimately encourages U.S. esters industry. Moreover, growth in food industry due to increasing population is fueling United States esters market. However, the market is restrained by the government regulations for limiting the use of unsafe chemicals in the food & personal care products and unstable prices of raw materials.
Nevertheless, low labor cost and regulations by government are encouraging the market growth of esters. Functional efficiency followed by biodegradability, sustainability and performance offered by esters are gaining traction by the market players. Also, the development of various personal care industries are expected to bring opportunities in U.S. esters industry in the coming years.
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U.S. esters market is categorized on the basis of product type, application and geography. On the basis of product type, the market is divided into complex esters, diesters, monoesters and methyl esters. Complex esters segment is expected to lead U.S. esters industry since they offer high film thickness, wide viscosity range, high surface activity, and are cost-effective.
Based on application, U.S. esters market is bifurcated into industrial lubricants, automotive lubricants, marine lubricants, aviation lubricants and food grade lubricants. Aviation segment followed by automotive and industrial segment are expected to hold larger market share of esters due to wide applications. Geographically, U.S. esters industry is segmented as The West, Southwest, The Middle Atlantic, New England, The South and The Midwest.
The key players in United States esters industry comprise Arkema, Chemtura, Lanxess, Dow Chemical, Evonik Industries, DuPont, Procter & Gamble (P&G), Croda International, Sasol, PCC Chemax, Honeywell, Eastman Chemical, Ashland, AkzoNobel, Innospec, Archer Daniels Midland, LG Chem, Elementis Specialties, Valtris Specialty Chemicals, Rotuba, PMC Biogenix, Polymer Plastics Co. LC.AndStepan Company.
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