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Global Oleate Esters Market: Highlights
- The global oleate esters market is projected to grow at a CAGR of nearly 5.0% between 2019 and 2027. The primary reason for the high rate of utilization of ethyl oleate in lubricants is their superior qualities such as absorbency, solvency and their resistance to low temperatures while being incorporated in any reaction. The demand for oleate esters is expected to increase in the future due to the rising awareness among the people regarding the superior properties of oleate esters and the wide range of applications that they serve.
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- Oleate esters are used in wide range of applications during present days .Oleate esters include a varied range of products such as ethyl oleate, TMPTO, methyl oleate, butyl oleate, and others such as sorbitan oleate, sodium oleate, etc. which can be used efficiently in number of industrial purposes. The use of vegetable oils as natural materials gives oleate esters a benefit over other chemicals, which also means it is comparatively safer and less toxic.
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Global Oleate Esters Market: Segmental Trends
- Ethyl oleate esters dominated the global oleate esters market in 2018. Ethyl oleate is an ethyl ester of oleic acid. It is synthesized artificially by condensation of ethanol and oleic acid. Ethyl oleate offers good solvency; hence, it can be used in a wide range of applications.
- Methyl oleate accounted for substantial share in global oleate esters market. Methyl oleate is used extensively in agrochemical, lubricants, etc. due to its high solvency.
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- Asia Pacific and North America are the major regions for the market of oleate esters. This is due to large production as well as consumption capacity in these regions. Together, they make up over half of the oleate esters market.
- Growing demand of oleate esters is due to the increase in industrialization as well as the awareness regarding the use of materials which are obtained from natural sources in both the regions. Different region are anticipated to grow evenly, with Asia Pacific showing exceptional growth over the years.
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