Dibasic Ester Market size is expected to reach USD 181 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of dibasic ester was USD 85 Billion. Dibasic ester usage is being driven by the growing need for low-VOC, environmentally acceptable solvents in a variety of applications. Industries are actively looking for substitutes that reduce their influence on air quality as governments and environmental agencies impose stronger controls on VOC emissions. In 2022, the US released about 11.9 million tons of volatile organic compounds (VOCs).
In addition, the dibasic ester market is expected to grow in the near future due to the industry's ongoing progress and new product introductions to meet changing consumer needs. In order to increase DBE's performance, broaden its use, and create novel formulations, industry participants are funding research and development initiatives.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~6% |
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Base Year Market Size (2023) |
~ USD 85 Billion |
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Forecast Year Market Size (2036) |
~ USD 181 Billion |
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Regional Scope |
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End Use (Paints & Coatings, Chemical, Textile, Foundry & Casting, Agrochemicals, General Industrial)
Based on end use, the textile segment is in the dibasic ester (DBE) market is anticipated to hold 35% of the revenue share during the forecast period. This is explained by the widespread usage of polyester fibers, which are derived from ester polymers, in the production of textiles and fabrics for apparel, home furnishings, and industrial uses. Polyester materials are easy to keep and care for because of their excellent resistance to wrinkles and strong colorfastness and retention. These materials also provide excellent printability, allowing for durable and colorful designs. The amount of polyester fiber produced worldwide in 2022 was 63.3 million metric tons. Since 1975, when 3.37 million metric tons of polyester fibers were produced globally, this number indicates a notable growth in the production of polyester worldwide.
Applications (Paint Stripper, Resin, Solvent, Plasticizer, Additives)
Based on applications, the paint stripper segment in the dibasic ester market is anticipated to hold the largest revenue share during the forecast period. The growing laws prohibiting the use of dangerous chemicals in paint strippers, including methylene chloride, have increased demand for safer substitutes, such as dibasic ester. The adoption of DBE is also influenced by regulatory pressure to limit emissions of volatile organic compounds (VOCs), as it has a lower VOC content than certain other solvents. Compared to more hazardous solvents like methylene chloride, which has been connected to major health problems, dibasic ester is thought to be safer to use. Dibasic ester is becoming increasingly often used in paint remover formulas as a result of the move towards safer and greener alternatives. A versatile option for paint remover formulas, DBE can be applied on stone, metal, and wood substrates. Its expanding use in the industry is partly due to its effectiveness on various surfaces. The need for and understanding of ecologically friendly products is rising. Because DBE is more environmentally friendly than other solvents due to its biodegradability and reduced air quality impact, paint strippers are using it.
Our in-depth analysis of the global dibasic ester market includes the following segments:
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Product Type |
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Applications |
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End Use |
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APAC Market Forecast
The dibasic ester (DBE) market is expected to hold the largest revenue share of about 33% during the forecast period. The demand for dibasic ester in South Asia is anticipated to rise over the course of the projected period due to the region's continuously growing chemical sector. Esters are essential chemicals used in many different industries as plasticizers, solvents, and food additives. The demand for esters increased as a result of the expansion of industries such as plastics, food processing, and cosmetics in the region. Due to China's importance in the global chemical industry, this increase was a result of both exports and local consumption. In the personal care industry as well, esters are crucial. Because of China's growing middle class and increased disposable money, esters are becoming more and more in demand in the processed food and personal care sectors.
North American Market Statistics
Dibasic ester market is projected to hold second largest revenue share of about 27% during the forecast period. The rising adoption of ester derivatives like polyesters, as well as their increasing usage in industrial textiles, fabrics, desktops, consumer products, packaging, and electrical insulation, are some of the factors that are expected to support the growth of the market in the United States over the course of the forecast period. Another factor contributing to this growth is the availability of a wide range of esters. The growth of the manufacturing industry is another influence. Over the course of the forecast period, it is expected that the growing use of ester in cosmetics such as lip products, tints, and blush, as well as in beauty goods like shower gels, conditioners, and shampoos, will propel market growth. It is also expected that the food and beverage industry's significant need for esters will support dibasic ester market growth in the US.
Author Credits: Smruti Ranjan, Rajrani Baghel
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