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What's Driving The Phosphate Esters Market Growth? Key Company Profiled In Lanxess, AkzoNobel, Solvay,Castrol, Lakeland Laboratories Ltd., Ashland, Daihachi chemical co., Elementis Global, ExxonMobil, Eastman Chemical Company, Stepan Company, The Dow Chem

06-18-2019 06:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Phosphate Esters Market

Phosphate Esters Market

Hydraulic fluids segment will account over 18% of the phosphate esters market share by the end of 2025. Phosphate ester based hydraulic fluids are prominently used in hydraulic brakes, excavators and backhoes, aircraft flight control systems, power steering systems, transmissions, lifts, garbage trucks, and industrial machinery. Product based hydraulic fluids are significantly used in aerospace industry as it simultaneously offers fire resistant characteristics.

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Phosphate Esters Market will surpass USD 3 billion by 2025; according to a new research report. 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

Chapter 4. Phosphate Esters Market, Type By Application
4.1. Global phosphate esters market, type insights
4.2. Triaryl phosphate esters
4.2.1. Market estimates and forecast, by application, 2014 – 2025
• Surfactants
• Fire Retardants
• Lubricants
• Agrochemicals
• Plasticizers
• Hydraulic fluids
• Others
4.2.2. Market estimates and forecast by region, 2014 – 2025
4.3. Trialkyl phosphate esters
4.3.1. Market estimates and forecast, by application, 2014 – 2025
• Surfactants
• Fire Retardants
• Lubricants
• Agrochemicals
• Plasticizers
• Hydraulic fluids
• Others
4.3.2. Market estimates and forecast by region, 2014 – 2025
4.4. Alkyl aryl phosphate esters
4.4.1. Market estimates and forecast, by application, 2014 – 2025
• Surfactants
• Fire Retardants
• Lubricants
• Agrochemicals
• Plasticizers
• Hydraulic fluids
• Others
4.4.2. Market estimates and forecast by region, 2014 – 2025
4.5. Others
4.5.1. Market estimates and forecast, by application, 2014 – 2025
• Surfactants
• Fire Retardants
• Lubricants
• Agrochemicals
• Plasticizers
• Hydraulic fluids
• Others
4.5.2. Market estimates and forecast by region, 2014 – 2025

Based on revenue, Asia Pacific will drive the phosphate ester market with a CAGR of 8.3%. The regional trialkyl phosphate ester market will generate revenue over USD 40 million by 2025. Rapid industrialization in Asia Pacific is expected to subsequently propel phosphate esters market by 2024.

Due the presence of the large number of players in the market, the phosphate esters market is highly competitive in nature. Major players in the business includes BASF SE, Israel Chemical Ltd, Clariant, Eastman chemical company, Lanxess AG, Elementis PLC, Akzo Nobel N.V., Solvay S.A., Ashland Inc., Daihachi chemical company, Lakeland Laboratories Ltd. The companies are focusing on increasing their production capacity and regional presence by strategic mergers & acquisition. For instance, in April 2017 Lanxess acquired Chemtura which is one of the world's leading suppliers of flame retardant and lubricant additives. This will help the Lanxess to increase its production capacity and strengthen its position in the market.

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Unveiling the application landscape of the global phosphate esters market

Speaking of the application spectrum, estimates claim that the fire-retardant segment accounted for more than 20% of the overall phosphate esters market share in 2017. The rapidly growing population and construction sector are the most pivotal factor driving this application segment. The demand for phosphate esters as multifunctional additives for metal working fluids has also favored the segment growth.

Besides the fire-retardant application, two prominently emerging application segments of the global phosphate esters industry are the hydraulic fluids and agrochemicals. Reliable reports claim that the trend of fusion prototype and miniaturization in industrial and consumer goods segment will positively impact the demand for phosphate esters in the ensuing years. Phosphate ester hydraulic fluids are widely used in steel mill equipment, flight deck elevators, and aircraft catapult systems and including control fluid for steam turbines and hydraulic doors on blast furnaces. Consistent demand for these applications have significantly uplifted the growth of the hydraulic fluid segment, which according to reports will surpass a remuneration portfolio of USD 500 million by 2025.

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

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.

Phosphate esters market is expected to witness steady growth from developed countries due to tremendous growth in the aerospace industry. Phosphate esters as fire resistant hydraulic fluids which find widespread applications in systems such as aircraft carriers, excavators, hydraulic brakes, aircraft flight control system, power steering systems, turbines & compressors, lifts, etc. Some phosphate esters are specifically used for the aerospace industry, for instance, Dibutyl phenyl phosphate is widely used as a significant hydraulic fluid across aerospace industry.

Fire resistant property of the phosphate esters makes it preferred for different applications such as PVC, plastic, film & cables to improve the behavior of plasticized polymers. Additionally, the ability of phosphate ester to maintain low viscosity, required for hydraulic fluids will further stimulate phosphate ester demand in aerospace industry.

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

Stringent regulations regarding handling and use of phosphate ester as pesticide and fertilizer in agriculture and as a hydraulic fluid in different industries, due to the toxicity may hamper industry growth in coming years. Direct product contact with skin or eyes may lead to irritation, red rash, itching and burning sensation to skin and intense stinging sensation to eyes. However, increasing development trend of bio-based esters to overcome problems associated with synthetic esters is expected to generate lucrative opportunities for phosphate esters market by 2024.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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