Global Polyol Ester Market Expected to Reach USD 748.2 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Polyol Ester Market by Type (Neopentyl Glycol Esters (NPG), Trimethylolpropane Esters (TMP), Pentaerythritol Esters (PE), Dipentaerythritol (DiPE), Others), by application (Industrial Lubricants [Greases, Engine Oils, Hydraulic Fluids, Heat Transfer fluids , Others], Refrigeration Oil, Transformer Coolant, Others), by End-use (Aviation, Automotive, Energy & Power, Marine, Chemical, Food & Beverage, Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa): Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 493.7 Million in 2022 and is expected to grow at a growth rate of 4.8 % by the year 2031.

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As per Growth Market Reports industry analyst Aditya Jawalkar, the “Global Polyol Ester Market is anticipated to witness significant growth during the forecast period 2023-2031. Polyol esters are a type of synthetic refrigeration lubricants that are highly miscible with non-chlorine refrigerants. They have extensive use in various high-temperature applications, such as stationary turbine engines, industrial oven chains, high-temperature grease, fire-resistant hydraulic fluids, textile lubricants, and fire-resistant transformer coolants.

Polyol esters are a type of synthetic refrigeration lubricants that are highly miscible with non-chlorine refrigerants. They have extensive use in various high-temperature applications, such as stationary turbine engines, industrial oven chains, high-temperature grease, fire-resistant hydraulic fluids, textile lubricants, and fire-resistant transformer coolants.

Increasing demand for polyol esters from refrigeration oil manufacturers is driving the market. The requirement for refrigeration oil has been increasing consistently, owing to the rising demand in frozen foods & pharmaceutical sectors. An increase in population and changing food habits among the public are supporting the growth of packaged food. These foods are supposed to be stored in a cool place where refrigeration oils are often utilized in the compressors.

Based on type, the global polyol ester market is categorized as neopentyl glycol esters (NPG), trimethylolpropane esters (TMP), pentaerythritol esters (PE), dipentaerythritol esters (DiPE), and others.

NPG esters are known for their excellent thermal stability, low volatility, and high flash point, which make them suitable to use in synthetic lubricants for various applications, including lubricants for jet aircraft engines.

Trimethylolpropane (TMP) esters are a type of synthetic lubricant base oil. These esters are produced by reacting TMP with fatty acid methyl esters (FAMEs).

PE esters enhance the surface properties of plastic articles and biaxially oriented polyester films, including abrasion resistance, while maintaining transparency and color stability at concentrations up to 0.5%.

Dipentaerythritol (DiPE) is a crucial polyol component used in the production of high-quality polyol esters. Dipentaerythritol esters are commonly used in refrigeration lubricants.

Glycerol esters are a type of glycerolipids, consisting of a glycerol backbone and one, two, & three fatty acids that are ester-linked to it.

Trimethylolethane are useful in the production of polyol ester synthetic lubricants that withstand high temperatures.

On the basis of application, the market is categorized as industrial lubricants, refrigeration oil, transformer coolant, and others. The industrial lubricants segment is further sub-segmented into greases, engine oils, hydraulic fluids, heat transfer fluids, and others.

Synthesis of polyol esters is possible with several permutations of different acids and alcohols, due to the multiple ester linkages in POEs. The ester shows variations of properties related to molecular weight, such as pour point, viscosity, volatility, and flash point, based on the alcohol used. The selection and mixing of esterified acids onto alcohols enables versatile fluid design.

Polyol esters have excellent lubricating qualities hence, they are used in grease formulations. Polyol esters provide good corrosion resistance, thermal and oxidative stability, and a wide temperature operating range when used as base fluids in greases.

It has high thermal stability, which makes them suitable for engines that run at high temperatures, such as those found in racing, high-performance vehicles, and aircraft. They are widely used synthetic hydraulic fluids, as they have strong inherent fire resistance. Excellent hydraulic fluid performance, easy conversion from petroleum oil, and high compatibility with system parts are all provided by polyol ester fluids.

Polyol esters are advanced synthetic fluids in heat transfer fluids that are designed to withstand high temperatures. Their high thermal stability allows them to withstand elevated temperatures without significant degradation. They are preferred in metalworking fluids, due to their outstanding lubricity, thermal stability, and oxidation resistance. This enhances tool life, surface finish, and overall machining efficiency. These lubricants aid in the optimization of refrigeration system performance, which results in energy savings and a reduction in greenhouse gas emissions, by guaranteeing smooth and efficient operations.

Synthetic ester transformer oil is more moisture-resistant than silicone and mineral oil transformer oil, due to its strong polarity and affinity for water molecules. Polyol esters act as plasticizers, enhancing the flexibility and processibility of polymers. They contribute to the formulation of various plastic and polymer products.

Synthetic polyol ester fluids are the preferred choice for lubricating aircraft gas turbine engines used in both commercial and military applications. They are essential to the automobile industry, due to their superior thermal stability. They are used as base fluids in automatic transmission fluids and engine lubricants. Polyol esters serve as lubricants in gearboxes of marine propulsion systems, guaranteeing smooth operation and wear prevention for marine gear applications. Polyol esters used as lubricants in chemical manufacturing equipment for efficient functioning and prevent wear.

The primary and secondary research methodology is used for keen observation and study of Recycled Copper Scrap. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets and automotive components and creating manufacturing issues.

In January, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of February 13, 2023, this pandemic had infected over 678,724,789 people, and over 6,791,202 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and life of people.

Key Takeaways from the Study:

• The players include Calumet Specialty Products Partners, L.P., Emery Oleochemicals, Exxon Mobil Corporation, Kao Corporation, Kuala Lumpur Kepong Berhad (“KLK”), LANXESS, MOHINI ORGANICS PVT. LTD., Shandong Xinfa Ruijie New Material Technology Co., Ltd., Shanghai Daopu Chemical Co., Ltd., Vantage Specialty Chemicals, Zhengzhou Chorus Lubricant Additive Co., Ltd., ZSCHIMMER & SCHWARZ, INC. Calumet Specialty Products Partners, L.P., Emery Oleochemicals, Exxon Mobil Corporation, Kao Corporation, Kuala Lumpur Kepong Berhad (“KLK”), LANXESS, MOHINI ORGANICS PVT. LTD., Shandong Xinfa Ruijie New Material Technology Co., Ltd., Shanghai Daopu Chemical Co., Ltd., Vantage Specialty Chemicals, Zhengzhou Chorus Lubricant Additive Co., Ltd., ZSCHIMMER & SCHWARZ, INC.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and Manufactures

• Demand Side: Lubricants manufacturing companies and others

• Regulatory Side: Concerned government authorities, and other regulatory bodies.