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Phosphate Ester Market Industry Leaders: Lanxess AG (Germany), Elementis plc (UK), Akzo Nobel N.V. (Netherlands), and Solvay S.A. (Belgium)

11-16-2018 08:38 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets Chemical

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Phosphate Ester Market Industry Leaders: Lanxess AG (Germany),

The phosphate esters market is estimated to be USD 843.9 million in 2017 and is projected to reach USD 1,179.8 million by 2022, at a CAGR of 6.9% from 2017 to 2022. Phosphate esters are increasingly used in in various applications, such as lubricants, surfactants, pesticides, fire retardants, hydraulic fluids, plasticizers, and paints & coatings, among others. The growing demand for phosphate esters from these applications is expected to drive the phosphate esters market.

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Lanxess AG (Germany), Elementis plc (UK), Akzo Nobel N.V. (Netherlands), and Solvay S.A. (Belgium) are recognized as visionary leaders in the phosphate esters market. These companies are focused on investing in plant capacity expansions. They have the potential to broaden their product portfolio and compete with other key market players.

Exxon Mobil Corporation (US), Ashland Inc. (US), and Stepan Company (US) are recognized as innovators. Innovators have a focused product portfolio. However, they do not have very strong growth strategies for their overall business as compared to visionary leaders.

In April 2017, Lanxess AG, acquired Chemtura, one of the leading suppliers of flame retardants and lubricant additives. The acquisition helped expand Lanxess’ additives product portfolio. It also strengthened the company’s position in the North American region.

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In June 2016, Lanxess AG expanded its Rhein Chemie Additives business unit with the development of innovative flame retardants. This expansion was made in order to meet the growing demand for halogen-free flame retardants from the automotive, buildings, and electronics sectors. This will enhance the company’s product portfolio in the flame retardants category.

In June 2016, Lanxess expanded the storage capacity of the phosphoric acid ester plant at its Leverkusen site. The new storage facility ensures a reliable supply of raw materials. This positively impacted the manufacturing of its phosphoric acid esters Levagard and Disflamoll.

In February 2013, Elementis plc (UK), acquired Hi-Mar Specialty Chemicals, LLC (US), a coating additives company, for USD 33 million. This acquisition is expected to help the company expand its products and technical services in the North American region.
In September 2012, Elementis expanded its production facility for specialty rheological additives and dispersants at an industrial park owned by Bayer Material Science, LLC at New Martinsville, West Virginia. This expansion was carried out in order to meet the market demand.

Phosphate esters offer fire-resistance, anti-wear properties, and good chemical resistance, due to which they do not react with metals and chemicals in various mechanical systems. Phosphate ester products can withstand a wide range of temperatures. They can also withstand corrosive industrial agents and hydraulic system environments. These properties of phosphate esters have led to their increased use in hydraulic systems, lubricants, and fire retardants. The phosphate esters market is estimated to be USD 843.9 million in 2017 and is projected to reach USD 1,179.8 million by 2022, at a CAGR of 6.9% from 2017 to 2022. Non-halogenated phosphorous esters are expected to drive the market, due to their increased use in various application industries, such as lubricants, paints & coatings, and surfactants, among others.

Based on type, the triaryl phosphate esters segment is estimated to be the fastest-growing segment of the phosphate esters market in 2017. Triaryl phosphate esters are widely used as fire retardants and hydraulic fluids, owing to their self-extinguishing properties. Asia Pacific and North America are the major markets for triaryl phosphate esters, in terms of value and volume. Some common triaryl phosphate esters include CDP (Cresyl Diphenyl Phosphate), TCP (Tricresyl Phosphate), and TPP (Triphenyl Phosphate).

The plasticizers segment is estimated to be the fastest-growing application segment of phosphate esters market during the forecast period, owing to their good gelling behavior and low-temperature performance. Phosphate esters are used as plasticizers in various polymers, such as polyvinyl chloride, thermoplastic polyurethane, and polyurethane foams. Their inherent fire retarding property is used to improve the behavior of plasticized polymers in various applications.
Asia Pacific is expected to be the fastest-growing market for phosphate esters during the forecast period, owing to the presence of high growth economies in the region. Emerging countries, such as China and India are the world’s major producers and consumers of phosphate esters.

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