Espargaro came to Sepang 27 points behind championship leader Francesco Bagnaia and needed to lose no more than three points to the Ducati rider to keep his title hopes alive going to Valencia.
But the Aprilia rider endured a tough Malaysian GP, taking the chequered flag in 11th and 21.5 seconds off of race winner Bagnaia – though he was promoted one spot to 10th after Franco Morbidelli was given a time penalty for a collision with the Aprilia rider.
Espargaro says he is “proud” of everything Aprilia has achieved in an “historic” season for the marque, but concedes the championship was too big an ask.
“I’m very disappointed, I’m very sad,” Espargaro said after Sunday’s race.
“I’m very proud of everybody in Aprilia, of myself, of my teammate, of everyone in Noale.
“What we did this year is amazing, historic, it will last forever.
“But at the same time, the way we ended the season it’s a bit sad because if we were able to maintain our level [from the first half of the season] in the last four races we would have arrived in Valencia with some chances.
“But we really lost it. Looks like the dream was too big for us. So, we will learn about it and be ready for it for the future.”
Espargaro was at a loss to explain his difficult Sepang race, noting he had traction issues throughout, while branding the last four rounds a “nightmare” having scored just 18 points from a possible 100.
Asked about what went wrong in Malaysia, Espargaro said: “I don’t know. We were very slow, the bike was very, very slow today in the straight.
“There was no traction at all, zero grip from the beginning. Believe me, I tried everything I could, I really pushed like hell knowing that every point was important for the championship.
“But I was very slow. All the last four races were a nightmare.”
Espargaro now sits third in the standings, one point clear of Enea Bastianini and 23 behind Fabio Quartararo in second.
If Espargaro wants to finish runner-up in the 2022 championship, he must win in Valencia and hopes Quartararo finishes 15th or lower.