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At 8% CAGR, Phosphate Esters Market to cross USD 3 billion by 2025 | Lanxess, AkzoNobel, Elementis Global, Solvay, BASF, ExxonMobil, Eastman Chemical Company, Ashland, Castrol, Stepan Company, The Dow Chemical Company, Croda, Israel Chemical Ltd., Clarian
Phosphate Esters Market
Based on volume, North America driven by the U.S. will exhibit CAGR of over 7.5%. The regional triaryl phosphate ester market will capture close to USD 350 million by the end of forecast timespan. Moreover, huge expenditure in research & innovation and high technology industrial equipment in U.S. will augment the market growth by 2025.
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Phosphate ester market is witnessing steady growth from Asia Pacific and North America due to increased use of non-halogenated phosphorus esters in numerous industrial applications.
Type By Application
o Triaryl Phosphate Esters
o Trialkyl Phosphate Esters
o Alkyl Aryl Phosphate Esters
By Application
• Surfactants
• Fire Retardants
• Lubricants
• Agrochemicals
• Plasticizers
• Hydraulic fluids
• Others
The escalating number of property renovation projects and modern construction systems in the region will further stimulate the demand for the product. The major benefit of phosphate esters is their intrinsic fire retarding property which is largely required in formidable applications such as plastic, PVC, film & cables to improve the behavior of plasticized polymers.
Endowed with a wide application spectrum, the growth prospects of the global phosphate esters market have been witnessing an upsurge in the recent years.
The wide range of structures and links of phosphate esters that can be developed to adapt to specific applications and functional properties have in turn resulted into wide range of commercially valuable products. With the globally flourishing agricultural and construction industries, the demand for phosphate esters as a raw material in surfactants, agrochemicals, lubricants, fire retardants, and plasticizers have significantly favored this business sphere.
Growth drivers
1. Growth in aerospace industry in developed nations
2. Steady growth in industrialization in APAC
Triaryl phosphates such as alkyl diaryl phosphates and triphenyl phosphate are two major class of this type of plasticizers. Phosphate esters used in PVC as flame retardant compliments the production of household products. Employment of these esters as fire resistant hydraulic fluid leads to a widespread utility in industries operating hydraulic systems such as excavators, aircraft carriers, hydraulic brakes, power steering systems, aircraft flight control system, lifts, turbines and compressors etc.
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Based on volume, fire retardant segment captured over 20% of the phosphate ester market share in 2017. The hydraulic fluid segment is poised to exceed USD 500 million by 2025. The miniaturization trend and fusion prototype sighted in industrial and consumer goods might create an assembly confront.
Phosphate ester hydraulic fluids are primarily used in industries where a significant fire hazard would exist if a rupture would occur in a hydraulic line. For example, its plays a vital role in aircraft carriers in aircraft catapult systems, flight deck elevators, steel mill equipment such as hydraulic doors on blast furnaces, control fluid for steam turbines for electricity generation.
With over 40% of the industry share triaryl phosphate ester will foresee growth at a significant pace due to its huge acceptance as a synthetic polyolester base stocks owing to their excellent oxidation stability and good anti-wear properties.
The trialkyl phosphate ester market size will reach over USD 400 million by the end of 2025, owing to its rising usage as rust & corrosion inhibitors. Trialkyl phosphate esters are composed as an anti-wear, emulsifying, and antifoaming agents in machinery as engine oils, compressor oils, gear oils, and piston oils. These lubricants are also used as cutting fluids in many industries.
Phosphate ester market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2014 to 2025, for the following segments:
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Lanxess AG
2. Solvay S.A
3. Akzo Nobel N.V.
4. Elementis PLC
5. Eastman chemical company
6. Exxon Mobil Corporation
7. Ashland Inc.
8. Castrol Ltd.
9. Stepan Company
10. Dow Chemical company
11. Croda International Plc
12. Israel Chemical Ltd
13. BASF SE
14. Clariant
15. Lakeland Laboratories Ltd.
Browse key industry insights from the report, “Phosphate Esters Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/phosphate-esters-market
Global phosphate ester market is highly competitive due to presence of large number of industry players as well as unorganized sector. Some major players in the industry are, Clariant, Lanxess AG, BASF SE, Israel Chemical Ltd, Eastman chemical company Elementis PLC, Solvay S.A., Akzo Nobel N.V., Ashland Inc., Lakeland Laboratories Ltd., Daihachi chemical company.
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