Rockville, Sept. 06, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Lubricant Ester Market is estimated to be valued at US$ 1.3 billion in 2023 and is projected to expand at a CAGR of 4.3% during the forecast period (2023 to 2033).
Lubricant esters are created by mixing esters and long-chain fatty acids. Ester-based lubricants are well-known for their high-temperature stability, resistance to oxidation, and compatibility with a wide range of base oils. Lubricant esters are used as a basic stock in the manufacturing of high-quality engine oil. Esters are blended with other additives such as detergents, dispersants, and viscosity index improvers to produce high-quality lubricants capable of withstanding the high temperatures and pressures in combustion engines.
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Key Segments of Lubricant Ester Market Research Report
| By Ester Type | By Application | By Region |
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High-performance automobiles and aircraft use lubricant esters because they protect against wear and tear, lower friction, and enhance fuel efficiency. These esters are also utilized in industrial applications like hydraulic systems and gearboxes, where high-quality lubrication is vital to the equipment's performance and reliability.
Key Takeaways from Market Study
- The global lubricant ester market is projected to expand at 4.3% CAGR and reach US$ 1.9 billion by 2033.
- The market was valued at US$ 1.2 billion in 2022, and advanced at a CAGR of 3.6% from 2018 to 2022
- Leading market players include Avi-Oil India [P] Ltd., ABITEC, Afton Chemical Corporation (NewMarket Corporation), Avient Corporation, BASF SE, Beser Chemical Industry, Cremer Oleo GmbH & Co. KG, Croda International Plc, Emery Oleochemicals, Evonik AG, ExxonMobil Corporation, Kao Corporation, Lanxess, NYCO, Quality Group, SPAK Orgochem Pvt. Ltd., and Zschimmer & Schwarz, Inc.
- Application of lubricant esters in engine oil is projected to rise at a CAGR of 4.7% through 2033.
- The market for lubricant esters in China is forecasted to progress at a CAGR of 5% during the forecast period.
Competitive Landscape:
Prominent manufacturers in the synthetic lubricant ester industry include Avi-Oil India [P] Ltd., ABITEC, Afton Chemical Corporation (NewMarket Corporation), Avient Corporation, BASF SE, Beser Chemical Industry, Cremer Oleo GmbH & Co. KG, Croda International Plc, Emery Oleochemicals, Evonik AG, ExxonMobil Corporation, Kao Corporation, Lanxess, NYCO, Quality Group, SPAK Orgochem Pvt. Ltd., and Zschimmer & Schwarz, Inc.
These manufacturers are committed to advancing lubricant ester technology, leveraging materials science and chemistry to enhance performance and sustainability. Their investments span various ester types, including monoesters, polyol esters, diesters, trimellitate esters, aromatic esters, polymeric esters, and adipate esters. These efforts are geared towards meeting the diverse demands of applications such as engine oil, gear oil, industrial processes, automotive components, hydraulic fluids, compressor oils, aviation turbine lubricants, wind turbine lubricants, transmission oils, and grease.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 1.9 Billion |
| Growth Rate (2023-2033) | 4.3 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 74 Figures |
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Market Developments
Market players are focusing on strengthening their position and capitalizing on emerging opportunities. Some strategies adopted by market players include identifying target markets, advancing technology, broadening innovation, enhancing environmental sustainability, optimizing production, refining procurement processes, and improving the supply chain. Additionally, companies are forging strategic partnerships with industry counterparts to gain access to fresh markets and distribution channels.
Players are also investing in marketing and branding efforts to raise awareness about the benefits of their products are differentiate themselves from other competitors. By pursuing these growth strategies, market players aim to foster sustainable growth, gain a competitive edge, and meet market demands.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the lubricant ester market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals essential insights based on ester type (monoesters, polyol esters, diesters, trimellitate esters, aromatic esters, polymeric esters, adipate esters) and application (engine oil, gear oil [industrial, automotive], hydraulic fluid, compressor oil, aviation turbine oil, wind turbine lubricants, transmission oil, grease), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Automotive Lubricants Market: The global automotive lubricants market size is likely to be valued at US$ 79.23 Billion in FY 2022, up from US$ 76.82 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 3%. From 2022 to 2032, automotive lubricants sales are poised to flourish at a CAGR of 3.1% by 2032.
Forging Lubricants Market: The global forging lubricants market experienced growth at the rate of 1.2% CAGR between 2017 and 2021 to reach a market valuation of US$ 5.8 billion at the end of 2021. Worldwide demand for forging lubricants is predicted to increase at 3.7% CAGR to reach US$ 8.7 Billion by 2032-end.
Aviation Lubricants Market: The aviation lubricants market is likely to register a CAGR of 5% across the 2022-2032 forecast period. By 2021-end, sales reached US$ 859.8 Million, following extensive applications across large commercial jets, in the wake of a resumption in passenger air travel. By 2022, the market is expected to close at US$ 902.79 Million.
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