Press release
Phosphate Esters Market Projected To Show Strong Growth From Retardant Segment By 2025
Based on volume, fire retardant segment captured over 20% of the phosphate esters 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.
Phosphate Esters Market will surpass USD 3 billion by 2025; according to a new research report.
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.
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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.
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
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.
Triaryl phosphate ester will account at over USD 1.5 billion by the end of 2025. The product owing to its antifoaming properties is widely used in hydraulic fluids used in aircraft flight control system, power steering systems, hydraulic brakes, etc. In addition to that the triaryl phosphate ester also find several applications across fire retardants, surfactants, lubricants, plasticizers, agrochemicals, etc.
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.
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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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.
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
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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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