Ester lubricant maintenance require expensive tools and equipment.
Albany, NY -- (SBWIRE) -- 11/07/2017 -- The global polyol ester market is expected to see a significant growth in the coming years and witness significant growth between 2017 and 2027. The manufacturers and suppliers play a significant role in catering the need of the consumers by strengthening the supply chain, particularly in regions, such as APAC, Europe, and North America. According to the new report of Persistence Market Research titled, "Polyol Ester Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027)," which tracks the performance of the global polyol ester market for the projected period of 10-years, suppliers are catering to specific requirements of polyol esters manufacturers, while adhering to high quality standards of production. Global Polyol Ester market is estimated to be valued at US$ 3,870.6 Mn by 2016 and is expected to expand at a CAGR of 5.1% over the forecast period.
Ester lubricants such as phosphate esters, complex esters, and silicate esters deliver excellent lubricating and safety properties; however, various turbine such as Electro-Hydraulic-Control (EHC) users, and food processing equipment users struggle with the maintenance of ester lubricants. Ester lubricant maintenance require expensive tools and equipment. Outdated or incorrect EHC fluid maintenance equipment used in industrial and aviation applications, costs hundreds of millions of dollars, which restrains manufacturers of synthetic lubricants to produce ester lubricants in bulk.
Food grade lubricants conform to NSF International's requirements of H-1 for finished lubricants and HX-1 for additives used in food grade and industrial application formulations. The HX-1 standard is not specific to any application, and hence, all lubricants designed for application -food grade or industrial - are included in the same category. These applications range from high viscosity gear oils to lower viscosity compressor oils. Also, the food grade lubricants industry is facing various restrictions on the amount of additives allowed to be used in combination with other chemistries.
Global Polyol Ester Market: Regional Analysis
Five regions have been covered in this report, such as North America, Latin America, Europe, APAC, and MEA. Asia Pacific generates a high revenue owing to the varied applications of polyol ester across different industry verticals. The price of polyol esters is steadily increasing in Japan, China, and India, as they have emerged as the fastest growing markets for end-user industries of polyol esters. These countries also happen to be the largest producers of pentaerythritol and neopentyl glycol and are all open for globalization. With the increased demand and governments emphasizing on developing trade relations, the price of these products have gone higher and will continue to grow. The polyol ester industry in Asia Pacific has a substantial growth potential. The automotive industry in China has seen a strong penetration of synthetic lubricant as compared to global standards. In terms of lubricants, the market scenario is not technologically advanced, and a lot of these materials are imported to cater to the unmet domestic demand.
Global Polyol Ester Market: Key Players
Calumet Specialty, Huntsman Corp, Dow Chemical, Shell Chemical, Exxon Mobil, LANXESS, Perstrop, Inolex, and Purinova are some of the key players operating in the global polyol ester market.
Report Overview with TOC @ https://www.persistencemarketresearch.com/market-research/polyol-ester-market/toc