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The global HID ballast market is expected to decline gradually over the period of 10 years between 2022 and 2027. This market is expected to register a growth rate of -9.8% during the forecasted period. In a bid to sustain revenue growth, key market players are laying emphasis on increasing their product offerings and providing innovative products to achieve competitive edge, specifically over other local players.

One of the significant reasons behind the declining growth of the market is increasing replacement of HID with new energy efficient LED luminaries. Global sales of HID ballasts is estimated to be valued at US$ 6.8 Bn in 2022 and this is projected to drop down to US$ 3.6 Bn by 2027.

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Global HID Ballast Market: Key Regional Takeaways

• Increasing government investments for the replacement of conventional lighting with energy efficient lighting systems is expected to provide traction in the North America HID ballast market during the forecast period
• Growing adoption and subsequent sales of energy efficient lighting systems for enhanced outdoor brightness in areas such as stadiums and parking spaces is expected to create an opportunity for electronic ballasts over the forecast period
• Rising replacements of tunnel lighting and street lighting as well as a growing trend for decorative lighting is estimated to propel the Latin America HID ballast market throughout the forecast period
• Regional manufacturers are focussing on increasing the illumination efficiency of car headlights. This may influence the application of HID ballast in the automotive sector during the forecast period

Global HID Ballast Market: Forecast by Sales Channel

The sales channel segment comprises offline and online segments. Offline sales has been a prominent channel for most of the market players due to the fact that they gain direct access to the customer to portray their offerings. It offers high chances of negotiations and also helps build better business relations. On the other hand growing internet infrastructure is likely to create significant opportunities for market players aiming to capitalise on lucrative opportunities in the untapped markets of several developing nations.

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Global HID Ballast Market: Forecast by Product Type

On the basis of product type, global HID ballast market is segmented into electromagnetic ballast and electronic ballast. Electromagnetic ballast technology improves the performance of lighting systems owing to its higher efficiency, optimal lumen maintenance as well as enhanced colour control over magnetic HID Ballast. The electromagnetic ballast segment is estimated to be valued at US$ 1,038.5 Mn in 2022 and this is anticipated to reach US$ 287.1 Mn by the end of 2027. Due to limited usability and subsequently decreasing sales in the global market, the electromagnetic ballast segment is expected to shrink rapidly over the forecast period.

Global HID Ballast Market: Forecast by Application

On the basis of application, the global HID ballast market is segmented into automotive, residential, commercial, industrial, and outdoors. Automotive components manufacturers, mainly headlights and headlamps manufacturers, are focussing on the manufacturing of energy efficient lamps such as HID lamps and LED lamps to enhance the vision of the driver. The automotive application segment was pegged at 64,510 (‘000 Units) in 2021 and is expected to reach 28,327 (‘000 Units) by 2027 end while expanding at a CAGR of -7.5% over the forecast period.

Global HID Ballast Market: Forecast by Region

The key regions of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are covered in this report. Growing construction infrastructure, a rapidly expanding commercial sector and rising demand for outdoor and parking lighting are providing high traction for the HID ballast market in APEJ.

Global HID Ballast Market: Competitive Landscape

Some of the key leaders operating in the global HID ballast market are Philips Lighting Holding B.V., General Electric Company, Fulham Co., Inc. Villa Industrias, S.A. de C.V., Eaton Corporation

Westinghouse Electric Corporation, Morimoto HID, Satco Products Inc., Howard Industries, Inc., Halco Lighting Technologies, Iris Energy Private Limited, OSRAM Licht AG, HELLA KGaA Hueck & Co., Universal Lighting Technologies, GUANGZHOU FUCHW INDUSTRIAL CO., LTD., Lighting and Power Technologies, LLC, and Advanced Lighting Technologies, Inc.

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The market for Heat Recovery Steam Generator with heat recovery will surpass US$ 1.1 billion in 2021. The demand for energy-efficient power generation solutions and rising investments in enhancing power plant efficiency are identified as the main growth drivers.

These factors are expected to cause the market to expand at a steady CAGR of 5.7 percent, with the U.K., the U.S., Germany, and Japan emerging as major producers.

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global heat recovery steam generator market is anticipated to reach US 1.1 Bn in 2021. With the U.S., the U.K., Germany, and Japan emerging as key producers, the market is poised to grow at a 5.7% CAGR through 2031.

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In addition, government initiatives in counties such as the U.S., the U.K., India, and China regarding the promotion of renewable energy will spur demand for heat recovery steam generators in the forthcoming years.

Further, sophisticated customization and innovative product solutions offered by OEM’s and heat recovery steam generator players will continue providing tailwinds to sales.

As per FMI’s regional analysis, the U.K. is anticipated to lead the European heat recovery generator market. Stringent regulations regarding carbon emissions in the European Union, coupled with increasing adoption of renewable energy sources will enhance growth prospects through 2031.

“Increasing investments in the power generation sector to improve efficiency, coupled with inorganic growth strategies adopted by OEMs for better market reach will continue augmenting growth in the forthcoming years,” says the FMI analyst.

Key Takeaways:

• Fully assembled heat recovery steam generators will remain the most preferred type of design.
• In terms of configuration, horizontal drums will account for maximum sales.
• Based on output power, 0-60 MW segment is poised to experience high demand.
• Combined heat and power plants will dominate the application segment.
• The U.S. is anticipated to witness high demand for heat recovery steam generators, owing to increasing energy production and need for sustainable methods. The North American market is poised to grow at a 4.4% CAGR.
• The U.K. will continue leading the European heat recovery steam generator market, expanding at a 4.6% CAGR.
• Demand for heat recovery steam generators will continue rising in China, due to rising adoption of combined cycle plants.
• India will emerge as a lucrative market, owing to government-backed initiatives promoting renewable energy production.
• Japan and South Korea will collectively account for 5% of the total market share.

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Competitive Landscape

Cleaver-Brooks, Siemens AG, General Electric, CMI Group, John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd., Rentech Boilers Systems Inc., Hamon Deltak, Inc., AC BOILERS SpA, SES Tlmače, a.s., and Xizi United Holdings Limited are some players operating in the heat recovery steam generator market profiled by FMI.

Top 5 players in the market include General Electric, Siemens AG, CMI Group, John Wood Group plc, and Mitsubishi Hitachi Power Systems Ltd., accounting for 75.5% of the total market share.

Leading players, as a part of their growth strategies, are focusing on strategic collaborations, mergers, and acquisitions to expand their global footprint and improve their product portfolios. For instance:

• In August 2021, Siemens Energy and state-owned Egyptian Electricity Holding Co. have signed a memorandum of understanding to develop a hydrogen-based, including a 100-200 MW pilot electrolyzer facility for the clean energy industry.
• In August 2021, Mitsubishi Power’s Philippines unit secured a three-year term service agreement to maintain boilers of the Davao coal plant of Aboitiz Power Corp. The agreement is intended to maintain reliable energy access in Mindanao. 

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The industrial use of acid proof lining in coating the floor tiles of various manufacturing units is expected to fuel the growth of Germany’s acid proof lining market. The rising necessity of providing durable solutions to industrial infrastructure is observed as a key driver for the growth of the Germany acid proof lining market.

Furthermore, the mounting private equity investments will continue to boost the growth of the Germany acid proof lining market. However, the high costs of veneering industrial surfaces will be a major challenge hampering the demand for expensive yet highly-durable acid proof lining types such as carbon brick coating.

The need for protecting industrial surfaces exposed to corrosive chemicals will continue to influence the demand for acid proof lining in Germany. In 2016, the acid proof lining market in Germany is expected to reach market value of US$ 4,296.2 Mn, at a y-o-y growth of 5.1% over 2015.

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The rising incidences of industrial equipment damages owing to the mechanical abrasion is also anticipated to drive the demand for acid proof linings in Germany. On the basis of material-type, the acid proof lining market in Germany will witness the fastest growth in the thermoplastics lining segment.

In 2015, the thermoplastics lining segment is estimated to have accounted for over 25% of total market share in Germany’s acid proof lining market. By the end of 2016, the share of thermoplastics lining segment is expected to grow at a substantial rate, closing in on the ceramic brick lining market share, which accounted for 34.8% in 2015.

The acid proof lining market in Germany is further segmented on the basis of end-use industries. Owing to the pervasive need of acid proof lining for protection against chemical abrasion, the chemical industries in Germany are expected to dominate the end-user segment with 29.3% market share in 2016.

The water treatment facilities and power generation plants in Germany are also anticipated to fuel the demand for durable acid proof lining. In order to expand the scope of application, the market for acid proof lining in Germany is undergoing reforms that favour manufacturers. Small acid proof lining manufacturers will continue to emerge, owing to the low entry barriers.

The leading companies in Germany’s acid proof lining market will expand their business operations to meet the surging adoption levels of acid proof linings from end-use industrial verticals such as metallurgy, pharmaceuticals, and automotive manufacturing.

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The key players of the Germany acid proof lining market include:

AGRU Kunststofftechnik GmbH, Steuler-Kch GmbH, SKO Säureschutz und Kunststoffbau GmbH, GBT-BÜCOLIT GmbH, Christen & Laudon GmbH Kunststoff – Apparatebau, A-SPT Protective Solutions GmbH & Co. KG, Knapper Oberflächentechnik GmbH, Nittel GmbH & Co. KG, , Hurner-Funken GmbH and Simona AG, among others.

Key Segments Covered

By Material Type:

• Ceramic Brick Lining
• Carbon Brick Lining
• Tile Lining
• Thermoplastics Lining
• Fluoropolymer Lining

By End-use Industry:

• Power Generation
• Chemicals
• Pharmaceuticals
• Petrochemicals
• Metallurgy
• Water Treatment & Processing
• Others (Automotive, etc.)

Long-term Outlook: The Germany acid proof lining market is projected to register a CAGR of 5.9% during the forecast period 2016-2026. In terms of value, the acid proof lining market in Germany will reach US$ 7.605.3 Mn by end of the forecast period.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The magnesium oxide market is gaining momentum again as the key application sectors are getting back to the track after getting over the shockwaves due to the COVID-19 pandemic earlier in 2020. While the rise in demand for dead burned magnesia and caustic calcined magnesia fuelled the sales over the past decade, requirement in industrial, refractories, and other sectors is further spearheading the growth of magnesium oxide industry.

The latest revised edition of the report on ‘magnesium oxide’ market study by Future Market Insights (FMI) offers an in-depth analysis of the global industry trends, growth & restraining factors, and demand-supply trajectories during the forecast period of 2021 to 2031.

As per the report, the industrial sector will majorly account for the industry growth while North America, Europe, Latin America, and Asia Pacific will remain the leading region.

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Key Takeaways from Market Study

• The global magnesium oxide industry is expected to ascend at over 5% CAGR through 2031
• High demand for dead burned magnesia (DBM) to augment the industry growth
• Rise in application in industrial sector to propel the demand growth
• The United States to remain in the leading position in North America magnesium oxide industry
• Germany to maintain its lead in Europe magnesium oxide industry
• Asia Pacific to register the fastest growth throughout the forecast period
• China, Japan, the United Kingdom, India, Canada, and a few other countries to have positive industry outlook

“The growing demand in refractory application, especially in iron and steel industry is set to bolster the growth of magnesium oxide suppliers. Additionally, DBM grade magnesium oxide is expected to contribute over 50% of the revenue generated in the refractory industries,” says an FMI analyst.

How is the Demand from Industrial Sectors Boosting the Sales of Magnesium Oxide?

Magnesium oxide has extensive application across diverse industrial sectors such as-

• Soil remediation
• Wastewater treatment
• Emissions treatment
• Drinking water treatment
• To molten iron and steel to remove sulfur And others.

As a result the demand from these sectors are aiding in the growth of magnesium oxide providers.

According to a report titled “Performance of the Agriculture Sector- Statistics Explained” published by the European Commission (EC), the European Union (EU)- 27’s agricultural industry created gross value added of EUR 176.4 Billion in 2019, while agriculture contributed 1.3% to the EU-27’s Gross Domestic Product (GDP) in 2019. This gives a glimpse of the high demand for magnesium oxide across various industrial sectors.

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Who is Winning in This Space?

The players in the global magnesium oxide industry are experiencing strict competition. In order to maintain their leading positions through the cut-throat competition, they are launching cost-effective and broader range of products.

For instance,

• Premier Magnesia LLC launched its new range of products such as EnviroBlend®, MAGOX®, Thioguard®, AQUAMAG®, and others during the last few years
• Ube Industries Ltd. launched its new range of Magnesia Clinker, Magnesium Hydroxide Dry, and others a couple of years back

Magnesium Oxide Market Segmentation by Category

Product Type

• Dead Burned Magnesia
• Caustic Calcined Magnesia
• Fused Magnesia

Application

• Industrial
• Refractories
• Agricultural
• Others

Region

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania

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More Valuable Insights

In its latest report, FMI offers an unbiased analysis of the magnesium oxide market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (dead burned magnesia, caustic calcined magnesia, and fused magnesia), and application (industrial, refractories, agricultural, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Future Market Insights has published a new market research report on the medium voltage transformer market that contains global industry analysis during 2014–2018 and opportunity assessment during 2019–2029. The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and past market scenario. The report analyzes the medium voltage transformer market and provides critical insights for the forecast period of 2019-2029. The global medium voltage transformer market size is estimated to reach ~US$ 10 Bn in 2019, and expand at a CAGR of ~5% during the projected period of 2019-2029.

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As per the key findings of the report, the global medium voltage transformer market is expected to witness considerable growth in upcoming years, due to the steady increase in adoption of smart grids, increasing urbanization, rapid growth in power generation, and increasing government investments for electrification.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification. These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country. In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country. Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Eastern. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

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Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization. Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

Medium Voltage Transformer Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpen International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

For instance, medium voltage transformer manufacturers are focusing on providing compact size and environmental-friendly medium voltage transformers. The compact size can better manage moisture and thermal stress, and their average life span is higher. Eco-friendly transformers promise lower load loss as compared to other conventional transformers. Therefore, the rising demand for lighter, smaller and eco-friendly medium voltage transformers is likely to shape the future of the medium voltage transformers market.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global magnesium metal market is predicted to grow at a strong CAGR of 7% from 2021 to 2031. The target market is set to present significant growth during the forecast period. Progress in the automobile manufacturing, growing adoption in aviation capacity, and a surge in crude steel production are expected to drive the growth in the magnesium metal market during this period of observation.

Magnesium metal is a silvery white metal. As one of the lightest metals available for structural applications, magnesium metal is rapidly gaining traction in the global marketplace. Magnesium metal is around 33% lighter than aluminium and nearly 67% lighter than steel and this factor aids in augmenting the demand for the product during the projected period.

One of the most abundant metal, magnesium metal can be obtained form several mineral sources. Magnesium metal is increasingly finding a wide range of applications across multiple industry verticals including the automobile and aviation sectors.

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Magnesium metal is used in the production of aluminum alloys as magnesium metal enhances physical properties and processability of these alloys. Other important applications of magnesium metal includes die-casting, desulphurization, and others.

Moreover, growing concerns for the environment due to increasing pollution from the transport sector also encourages the increasing use of magnesium metals. As one of the most versatile metals, the use of magnesium metal for automotive parts makes them more stable and lighter in weight.

In addition, magnesium metal and magnesium metal alloys are gaining increasing usage in aircraft and aerospace sector. Manufacturers in the aircraft industry are focussing on developing lighter and more fuel-efficient aircraft so as to comply with to strict emission standards and regulations set by diverse regulatory bodies and associations.

As one of the lightest metal, magnesium metal is comparatively more dimensionally stable, immune to high temperatures, and relatively easy to process. In order to effect weight saving without compromising structural strength and effectiveness.

The application of magnesium metal in the aerospace and aircraft industry has led to greater structural strength and effectiveness all the while executing a lightweight aircraft. All of these considerations further aid the growth of the magnesium metal market during the forecast period.

 “Rising adoption in the automobile and aviation sectors will likely supplement the global growth of the magnesium metal market over the forecast period,” says an FMI analyst. 

Key Takeaways:

• Increasing prospects in automotive and aircraft industry will propel the target market.
• The magnesium metal market in the Asia Pacific excluding Japan region is expected to present the highest CAGR.
• MEA and Latin America’s magnesium metal market will also register high growth rate during the forecast period.

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Competitive Landscape 

US Magnesium LLC., Dead Sea Magnesium Ltd, POSCO, RIMA Group, Solikamsk Magnesium Works OAO, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., Shanxi Wenxi Hongfu Magnesium Co., Ltd., Shanxi Wenxi Zhenxin Magnesium Co., Ltd., Taiyuan Tongxiang Magnesium Co., Ltd., among others are some of the major players in the magnesium metal market profiled in the full version of the report.

Leading market players are focusing on employing strategies like sales contract and acquiring technical expertise so as to increase their market share. These enterprises also employ tactics like patents and events, partnerships, joint ventures, collaborations, mergers and acquisitions to strengthen their market position.

Magnesium Metal Market: Segmentation

By Application

• Die-casting
• Aluminium Alloys
• Metal Reduction
• Desulphurization
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excl. Japan
• Middle East and Africa
• Japan

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More Insights into Magnesium Metal Market Report

In its latest report, FMI offers an unbiased analysis of the global magnesium metal market, providing historical data and forecast statistics for 2021 to 2031.  According to the latest FMI reports, based on region, the magnesium metal market in the Asia Pacific excluding Japan region will exhibit substantial growth during 2021-2031.

This region is predicted to present a high CAGR owing to increasing investment in the automobile sector. The growth in crude steel production also contributes to the growing demand for magnesium metal market in this region.

The magnesium metal market in MEA and Latin America will also present notable growth in the magnesium metal market. These regions will also record heightened growth rates. This primarily due to the expanding aviation sector in these regions.

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global esters market is expected to create an absolute dollar opportunity throughout the forecast period 2022-2029. It is anticipated to be worth approximately US$ 89.36 Bn in 2022 showcasing a healthy CAGR of 5.2% totaling US$ 127.41 Bn by 2029. Owing to the increasing demand for esters from diverse end-use industries including chemicals & materials, food & beverage, and automotive are expected to drive the growth of the market.

Ester is considered an essential constituent for making a variety of substances including lubricants, flavoring agents, and surfactants. Their high usage has been witnessed in the automotive, food, and cosmetic sectors. In 2020, the esters market formed around 11.0% of the global specialty chemicals market.

A half-yearly comparison of the growth forecast for the demand of esters has been presented by Future Market Insights along with recent developments being witnessed in the market. One of the key factors propelling the market is the expansion of the automotive and construction industries.

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Key Takeaways

• Some of the crucial drivers that are estimated to surge the growth of the ester market include the introduction of bio-based esters and the rising adoption of esters in the formulation of lubricants, solvents, surfactants, flavoring agents, personal care products, etc.
• The global demand for an ester is estimated to skyrocket and witness a growth rate of 5.4% during the first half of 2022, whereas the market was forecast to grow with a 5.2% CAGR as per the earlier projections.
• Accounting for surging growth in the automotive and construction industry is set to drive the market growth in the global scenario. Due to the introduction of bio-based esters and increasing adoption of esters for formulating lubricants, solvents, surfactants, flavoring agents, personal care products, etc. are some of the major factors driving the market.
• The chemical industry is excessively using ester as the compound is the preferred base stock in lubricant formulation for the automotive, aviation, and other manufacturing industries because they have a clean operation at high temperatures and low-temperature flow ability.
• The diverse application of ester compounds in the formulation of fragrances, varnishes, paints, and lubricants is multiplying its demand all over the world. Esters are chemical compounds derived from organic or inorganic acids by substituting a hydroxyl group (-OH) with an alkyl group (-O-).

Competitive Landscape

Mitsubishi Chemical Corporation, Exxon Mobil Corporation, Cargill, Inc., The Procter & Gamble Company, Lanxess AG, Arkema SA, and Evonik Industries AG are some of the key companies profiled in the full version of the report.

Leading players operating in the global esters market are investing in partnerships, advanced product launches, collaborations, acquisitions, and the establishment of new facilities to gain a competitive edge in the global market.

Key players are heavily investing in geographical and capacity expansions in order to gain momentum in the market. In addition to that, market players are inclining towards renewable sources for esters production to set up a circular economy infrastructure to sustain in the competitive environment.

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Esters Market by Category

By Product:

• Dibasic Esters
• Polyol Esters
• Methyl Esters
• Nitrate Esters
• Vinyl Esters
• Phosphate Esters
• Acrylic Esters
• Sucrose Esters
• Fatty Acid Esters

By Application:

• Lubricants
• Solvents
• Plasticizers
• Fuel and Oil Additives
• Flame Retardants
• Insecticides
• Explosives
• Surfactants
• Flavoring Agents

By End-Use Industry:

• Chemicals
• Food
• Automotive and Aviation
• Marine
• Textiles
• Cosmetics and Personal Care Products
• General Manufacturing

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More Insights into Esters Market

The East Asia region is expected to dominate the global ester market which accounts for 26.7% of the total market share in 2022, with China emerging as a lucrative pocket over the forecast period. Over a span of time, China is gradually becoming a global leader in automotive and chemical production owing to its rapid expansion of these end-use industries is anticipated to boost the sales of esters.

Ester comes with a variety of benefits including low cost, high performance, easy availability, and low environmental impact. Backed by such factors, China has led to the establishment of giant manufacturing bases.

As per FMI analysis, the U.K. market is emerging as a leading market for ester from end-use industries such as food & beverages, cosmetic & personal care, and chemicals. The U.K. is accounted to hold a market share of 23.9% in 2022. The strong demands for cosmetic products and personal care items are surging due to changing lifestyle patterns and an increase in disposable income in the U.K.

This is having a positive impact on the sales of esters. The U.S. esters market is poised to exhibit strong growth on account of the expansion of the construction industry and growing demand for ester-based high-performance lubricants. The growing adoption of ester across the textiles, food, and general manufacturing sectors is triggering the growth of the esters market in the country.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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