Global Carboxylic Acids Based Esters Market – Industry Trends and Forecast to 2030

Carboxylic Acids Based Esters Market Analysis and Size

The essential factors contributing to the growth of the global carboxylic acids based esters market in the forecast period of 2023 to 2020 include the rise in the construction and buildings industry in the advancing countries. Furthermore, the increasing knowledge regarding the personal care products such as moisturizer is further anticipated to propel the growth of the global carboxylic acids based esters market. Also, the upsurge in the increasing consumer’s interest towards the bio-based chemical is further estimated to cushion the growth of the global carboxylic acids based esters market.

Data Bridge Market Research analyses that the global carboxylic acids based esters market which was USD 3.5 billion in 2022, is expected to reach USD 4.93 billion by 2030, growing at a CAGR of 4.5% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in (depth expert analysis, geographically represented company (wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Carboxylic Acids Based Esters Market Scope and Segmentation

Market Definition

Carboxylic acids based esters are chemical compounds derived from carboxylic acids, which are organic compounds containing the carboxyl functional group (COOH). Esters are formed by the reaction of a carboxylic acid with an alcohol, resulting in the elimination of water. They have the general formula RCOOR', where R and R' are organic groups or hydrocarbon chains.

Global Carboxylic Acids Based Esters Market Dynamics

Drivers

• Rising Demand for Sustainable and Bio-Based Products

There was a growing trend toward using bio-based and sustainable materials in various industries. Carboxylic acids based esters derived from renewable sources are considered environmentally friendly, which can drive their demand, especially in industries such as packaging and cosmetics. Moreover, advances in research and development can lead to the discovery of new applications for carboxylic acids based esters, expanding their market potential.

• Increase in the Industrial Applications

Carboxylic acids based esters find applications as solvents, intermediates, and additives in various industrial processes. As industrial production grows, so does the demand for these chemicals. Carboxylic acids based esters are used as flavoring agents in the food and beverage industry. The growth in this sector, coupled with a preference for natural flavor enhancers, can drive the demand for these esters. The pharmaceutical and personal care industries frequently use carboxylic acids based esters in formulations for drug delivery and cosmetics. As these industries expand, the demand for esters is likely to increase.

Opportunities

• Change in the Consumer Preferences

Consumer preferences for products that are safer, eco-friendly, and natural can drive the demand for esters in various applications, including cosmetics and personal care products. In addition, the growth of emerging markets and urbanization can result in increased consumption of products that use carboxylic acids based esters, such as paints, coatings, and adhesives.

• Stringent Environmental Regulations

Environmental regulations related to the use of certain chemicals can also drive the demand for carboxylic acids based esters. Some esters are considered more environmentally friendly alternatives to other chemicals, making them attractive to companies looking to comply with regulations.

Restraints/Challenges

• Price Volatility of Raw Materials

The prices of raw materials used to manufacture carboxylic acids based esters, such as feedstock chemicals and energy, can be subject to fluctuations. These price variations can affect production costs and profit margins for manufacturers.

• Stiff Competition from Alternative Chemicals

In some applications, carboxylic acids based esters face competition from alternative chemicals and compounds. Manufacturers must continually innovate to demonstrate the advantages of their products over these alternatives.

This global carboxylic acids based esters market report provides details of new recent developments, trade regulations, import (export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global carboxylic acids based esters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high (level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in (depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In September 2023, Eastman Chemical Company announced it has entered into a definitive agreement to sell its Texas City Operations, located in Texas City, Texas, to INEOS Acetyls, a global manufacturer and supplier of acetic acid and related chemicals owned by the INEOS Group. Texas City Operations is currently part of Eastman’s Chemical Intermediates segment. Eastman will retain ownership of its plasticizer business at the site, which INEOS will operate for Eastman as part of this agreement. Eastman and INEOS have also entered into a Memorandum of Understanding to explore options for a long-term agreement for supplying vinyl acetate monomer (“VAM”) to Eastman

Global Carboxylic Acids Based Esters Market Scope

The global carboxylic acids based esters market is segmented on the basis of basis product and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Methyl Acetate
• Ethyl Acetate
• N-Propyl Acetate
• Isopropyl Acetate
• Isobutyl Acetate
• N-Butyl Acetate
• Eugenyl Acetate
• Isoamyl Acetate
• Phenethyl Acetate
• Methyl Propionate
• Ethyl Propionate
• Propyl Propionate
• Butyl Propionate
• Geranyl Propionate
• Phenethyl Propionate
• Methyl Butanoate
• Ethyl Butanoate
• Butyl Butanoate
• Methyl Valerate
• Ethyl Valerate
• Iso-Propyl-Valerate
• Butyl Valerate
• Isobutyric Acid N-Propyl Ester
• Isobutyric Acid Iso-Propyl Ester
• Phenethyl Isobutyrate
• Butyl Isovalerate
• Geranyl Isovalerate
• Methyl Caproate
• Ethyl Caproate
• Butyl Caproate

Application

• Paints and Coatings
• Printing Inks
• Cosmetics and Personal Care
• Pharmaceuticals
• Flavors and Fragrances
• Others

Global Carboxylic Acids Based Esters Market Regional Analysis/Insights

The global carboxylic acids based esters market is analysed and market size insights and trends are provided by basis of product and application as referenced above.

The countries covered in the global carboxylic acids based esters market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Asia-Pacific is expected to dominate the global carboxylic acids based esters market due to the rise in the applications of carboxylic acids based esters.

Europe is projected to observe significant amount of growth in the global carboxylic acids based esters market during the forecasted period of 2023 to 2030 due to the increase in the need for carboxylic acids based esters in paints and coatings application. Moreover, the inclination of the users towards flavors and fragrances is further anticipated to propel the growth of the carboxylic acids based esters market in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down (stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Carboxylic Acids Based Esters Market Share Analysis

The global carboxylic acids based esters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global carboxylic acids based esters market.

Some of the major players operating in the global carboxylic acids based esters market are:

• Sasol Limited (South Africa)
• Green Biologics Limited (U.K.)
• Eastman Chemical Company (U.S.)
• Celanese Corporation (U.S.)
• Wacker Chemie AG (Germany)
• Solventis (Spain)
• Teknor Apex (U.S.)
• Producers Chemical Company (U.S.)
• CABB GmbH (Germany)
• SolvChem (U.S.)
• Jiangsu SOPO (Group) Co., Ltd (China)
• ESTER INDIA (India)
• Ester Chemical Industries Pvt. Ltd (India)
• Ester Formulations (India)
• TCI Chemicals (India) Pvt. Ltd. (India)
• Mitsubishi Corporation (Japan)
• Prasol Chemicals Pvt. Ltd. (India)
• OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (Japan)
• MFG Chemical, LLC (U.S.)
• INEOS (U.K.)

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