Esters Market Set to Observe Huge Expansion in Coming Years

According to P&S Intelligence, with the increasing demand for paints and coatings in various industries, the esters market will witness considerable growth in the near future. This is because esters are among the most-important ingredients of such products, being primarily used as a tail solvent, on account of their high solvency and slow evaporation. The solubility and miscibility flexibility of esters with a vast variety of organic solvents and resins, respectively, allows them to be added to numerous types of coatings with an acrylic, alkyd, vinyl copolymer, or polyester base.

In this regard, one of the major end-use industries of ester-containing products is automotive. Every vehicle undergoes at least three rounds of coating: primer, basecoat, and clearcoat, which leads to a high demand for esters. Additionally, esters are used in lubricants, another significant liquid product used in the auto sector. Esters impart low volatility, appreciable oxidative and thermal stability, disperancy, detergency, biodegradability, and lubricity. With the growing demand for passenger cars and heavy-duty trucks and buses, the automotive sector continues to grow, thereby driving the demand for lubricants.

The most widely used types of esters are polyesters, fatty acid esters, acrylic esters, and phosphate esters, out of which polyesters recorded the highest usage in the past. This is mainly attributed to the huge demand for these esters from various applications such as home furnishing, textiles, electrical insulation, packaging, and industrial fabrics. Phosphate esters are expected to register the fastest growth in utilization and consumption in the future, primarily on account of their high thermal stability and lubrication properties.

Esters are used in a plethora of applications, including those pertaining to textiles, packaging, lubricant, personal care and cosmetics, paints and coatings, food and beverage, and surfactants. Amongst these, the textile applications registered the highest usage of esters (polyesters) in the past and are predicted to record wide-scale adoption in future. This is mainly ascribed to the light weight and high strength properties of the polyesters. Esters are highly sought-after for use in lubricants in several industries such as marine, automotive, aviation, and in numerous industrial applications.

Globally, the Asia-Pacific region recorded the highest adoption of esters in the past and is expected to register the fastest growth in the usage of esters in the coming years. This is mainly due to the rising demand for polyesters for use in packaging and textile industries and the surging automotive industry in the developing APAC countries such as Vietnam, India, and Thailand. Moreover, the rapid industrialization in several APAC nations including India and China, are predicted to further propel the esters market in the region over the next few years.

Therefore, with the growing automotive, construction, persona care & cosmetics, and textiles sectors, due to the booming population and government support for them, the demand for various types of esters will rise too.

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