Global Ethoxylated Sorbitan Esters Market to witness a CAGR of 5.8% during 2018-2024

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NEW YORK, Sept. 14, 2018 (GLOBE NEWSWIRE) -- The global Ethoxylated Sorbitan Esters market is expected to witness a CAGR of 5.8%, and is projected to reach USD 840.7 Million by 2024. The growth is attributed to the high demand for beauty and personal care products and growth of pharmaceutical Industry across the globe. Sorbitan esters are usually produces by their catalyzed reaction with fatty acids which apart from cosmetic and pharmaceutical industry have application in food and other industry. Edible products like bread, ice-cream, chewing gum, and gelatin all are made using polysorbates. Various medicines use it as an ingredient for the proper dispersion of pills in stomach. Cosmetics industry uses it as a solublizer to blend all the ingredients together.

Sorbitan ester ethoxylate is a surfactant that found application in preparation of emulsion, creams, soaps, ointments, in pharmaceutical and cosmetic industry. They usually produce stable water in oil emulsion but when used with polysorbates they produce a variety of emulsion of food and pharmaceutical grade. The polysorbate is another name for ethoxylated sorbitan ester and industrially is known as Tweens.

Sorbitan Ester is one of the inactive ingredients in many of the medications and vaccines act as a solublizing agent to increase the solubility of various ingredients into one another. These products are used mainly as solubilizers and emulsifiers and exhibits low toxicity.  Furthermore, they provide wetting, stabilizing, dispersing, and viscosity modifying properties in several applications. Polysorbate 20 and Polysorbate 80 are the common types of ester used in pharmaceutical applications. Polysorbate 80 is used as a solubilizing agent in IV formulations of the antiarrhythmic drug amiodarone. Growing application in dermatology, human pharmaceutical and veterinary health drives the demand for ehtoxylated sorbitan esters across the globe.

Europe is accounted to hold the maximum share in the global market. Growth of food and packaging industry coupled with increasing expenditure in development of pharmaceutical industry, fuels the demand for Ethoxylated Sorbitan Esters in the region. With changing lifestyle and disposable income demand for packaged food has grown significantly over the past few years which in turn has has led to greater demand for additives thus providing boost to the market growth. Demand for Ethoxylated Sorbitan Esters in North America is owned to growing application in the household & personal care industry. Asia-Pacific is expected to bolster at highest CAGR over the forecast period, owning to rise of large economies such as China and India.

The report segments Ethoxylated Sorbitan Esters market on the basis of grade type, end-use  and region.

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Globe Newswire: 14:02 GMT Friday 14th September 2018

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