Scienza e Tecnologia
Inclination towards Biodegradable Paints to Elevate Oleate Esters Sales at 5.8% CAGR in 2022
NEW YORK , June 16, 2022 /PRNewswire/ -- The global oleate esters market reached US$ 1.8 Bn in 2021. The sales of oleate esters are anticipated to total US$ 1.9 Bn by 2022, projecting growth at a CAGR of 5.8% during the forecast period 2022-2032.
Increasing research and development (R&D) activities by leading players to develop advanced and safe agrochemicals is estimated to assist the oleate esters demand to exceed US$ 3.3 Bn by the end of 2032.
Due to surging trend of urbanization, there is a swift rise in infrastructure development activities, creating strong demand for paints across the construction industry. With rising concerns pertaining to environmental sustainability, end users are inclining towards the adoption of bio-degradable and natural paints.
Citing this trend, numerous manufacturers are also introducing novel environment-friendly paints. For instance, in 2020, Asia Paints, an Indian multinational paint company launched a new organic range of paints featuring ingredients such as castor seeds, soya beans, and neem oil. As oleate esters are used in the production of these paints, growing adoption of organic paints and rising new product launches are projected to accelerate sales in the global market.
Among the application verticals, the lubricant segment is expected to account for a maximum share in the market through 2032. This is attributed to the large-scale application of lubricants across automotive, manufacturing, aerospace, and others industries.
Leading oleate esters market players are focusing on expanding their production capacity to cater to the surging demand. Also, some of the companies are aiming at entering into strategic collaboration, agreement, and partnership with other players to expanding their global footprint.
For instance,
In its latest study, Fact.MR highlights crucial factors steering growth in the global oleate esters market for the forecast period of 2022 to 2032. The study also provides key insights into drivers that are expected to create growth prospects in the oleate esters market through detailed segmentation as follows:
: A recent study by Fact.MR on the global matting agents market offers a 10-year forecast for 2022 to 2032. The study analyzes crucial trends that are currently determining the growth of the market.
: The petroleum coke market is predicted to increase due to expanding opportunities from several end-use industries. Paints and coatings, steel, fertilisers, and other sectors' growth are projected to generate significant potential for the industry.
Key players are focused on adopting advanced manufacturing technologies for the production of impregnating resins to penetrate the global market and to improve the overall supply chain in the global impregnating resins market.
: Fact.MR, a market research and competitive intelligence provider, has further discussed the market scenario in Europe and other regions of the world, in this new ceramic inks market research report.
: The United States needle coke market is expected to account for 90.8% of the North America Market share, in 2032. The presence of key market players and technological advancements are likely to boost needle coke sales in the U.S.
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.
Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg