Global Phosphate Esters Market: Overview
"The Phosphate Esters Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Phosphate esters are also known as organophosphate compounds, which derived from the reaction of alcohol and phosphoric acid. Phosphate esters are widely used in pesticides, insecticides, lubricant additives, surfactant, flame retardant, and others, owing to its properties such as anti-wear, high ignition temperature, low vapor pressure, and excellent oxidation stability.
These esters are acidic and deprotonated in aqueous solution and can be synthesized by esterification of phosphoric acid, oxidation of phosphite esters or by alcoholysis of phosphorus oxychloride.
Global Phosphate Esters Market: Dynamics
Increasing demand for phosphate esters in plasticizers, lubricants, paints & coatings, coupled with growing construction, automotive, and other end-use industries, are some of the major factors expected to fuel the target market growth.
Increasing adoption of phosphate esters in agrochemicals for killing or avoiding pests and insects is among the other factors expected to propel global market growth. Moreover, increasing demand for phosphate esters in detergent, food, wastewater treatment, owing to its oxidation stability is another factor anticipated to support target market growth to a certain extent.
High price of raw materials is one of the major factors that could restrain global market growth. In addition, unfavorable regulations and guidelines on use of phosphate esters for agriculture purposes could be another hampering factor for target market growth.
Increasing adoption of bio-based phosphate esters and rising demand from various industries, especially in emerging economies, are some of the factors anticipated to present opportunities for existing players and augment growth of the market globally.
Phosphate Esters Market: Segment Analysis
Among the type segments, the triaryl phosphate esters segment is anticipated to account for the highest revenue share in the target market. This can be attributed to increasing adoption of triaryl phosphate esters in hydraulic fluids and fire retardants.
Among the application segments, the plasticizers segment is projected to grow at a faster rate, owing to growing demand for polymers and plastics from end-use industries, coupled with rapid growth of the automotive and construction industrial verticals in developed and developing countries.
Phosphate Esters Market: Region Analysis
The phosphate esters market in Asia Pacific is estimated to hold a dominant position in terms of revenue share and is projected to dominate over the 10-year period. Rapid industrialization, coupled with increasing demand for non-halogenated phosphate esters for applications in lubricants, surfactants, plasticizers, and others is expected to fuel growth of the target market in the region.
Moreover, increasing demand for the product in agrochemicals, hydraulic fluids, and other applications is anticipated to create opportunities for players in the APAC market. The market in North America is anticipated to account for moderate revenue growth, owing to rising adoption of the product in various applications and presence of prominent players in the region.
The Europe market is anticipated to account for moderate share in terms of revenue owing to rapid growth of end-use industrial verticals and rising awareness regarding benefits of the products among manufacturing companies.
Global Phosphate Esters Market Segmentation:
Segmentation based on Type:
- Triaryl Phosphate Esters
- Trialkyl Phosphate Esters
- Alkyl Aryl Phosphate Esters
- Others (Bisphosphate, etc.)
Segmentation based on Application:
- Fire Retardants
- Hydraulic Fluids
- Agrochemicals/ Pesticides
- Others (Dispersants, Emulsion Polymerization, Paints & Coatings, etc.)
Segmentation based on Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- DowDuPont, Inc.
- Lanxess AG
- Akzo Nobel N.V.
- Elementis PLC
- Solvay SA
- Exxon Mobil Corporation
- Eastman Chemical Company
- Ashland Inc.
- BASF SE
- Stepan Company
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