Carboxylic Acids Based Esters Market Size will Observe Substantial Growth by 2023
Carboxylic acids based esters are sweet-smelling compounds that are formed when an alcohol reacts with a carboxylic acid. Recently, demand for carboxylic acids based esters has risen significantly due to their ability to replace hazardous air pollutants (HAP) in the formulation of paints, coatings, inks, cosmetics, and personal care products. Carboxylic acids based esters are largely used as solvents in paints & coatings owing to properties such as high solvency and medium evaporation rate. Strong growth in the global building & construction industry is anticipated to boost demand for paints & coatings. Expansion of the manufacturing industry in growing economies such as China, India, Brazil, and other countries in ASEAN is expected to contribute significantly to growth of the carboxylic acids based esters market in the near future. Similarly, demand for printing inks is increasing across the globe, especially in packaging. As a result, several packaging manufacturers...