Global Oleate Esters Market to Reach $2.1 Billion by 2026

Amid the COVID-19 crisis, the global market for Oleate Esters estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Ethyl Oleate, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Methyl Oleate segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 27.5% share of the global Oleate Esters market.

The U.S. Market is Estimated at $436.5 Million in 2021, While China is Forecast to Reach $407.3 Million by 2026

The Oleate Esters market in the U.S. is estimated at US$436.5 Million in the year 2021. The country currently accounts for a 25.86% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$407.3 Million in the year 2026 trailing a CAGR of 6.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR while Rest of European market (as defined in the study) will reach US$436.3 Million by the end of the analysis period.

In Asia-Pacific growth is bolstered by numerous production facilities, easy access to raw materials and increasing investments in R&D activity. The market is receiving a notable contribution from India and China owing to their strong agrochemicals industry coupled with high consumption of fertilizers and pesticides. The oleate esters market in Middle East & Africa is anticipated to gain from easy access to key raw materials. The region is known for large-scale cultivation of palm plantations that are effective raw materials for production of different types of oleate esters.

The market is also poised to be propelled by strong demand for lubricants owing to expansion of the automotive and aerospace industries. Oleate esters are anticipated to benefit from increasing consumption in cosmetic and personal care sector in the U.S.

Butyl Oleate Segment to Reach $302 Million by 2026

In the global Butyl Oleate segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$178.6 Million in the year 2020 will reach a projected size of US$237.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$39.6 Million by the year 2026, while Latin America will expand at a 4.8% CAGR through the analysis period.