Detailed Study of Phosphate Ester Market by Research Cosmos
Phosphate Ester Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Phosphate Ester Market was valued at USD 843.9 Million in 2017 and projected to reach USD 1,179.8 Million by 2022 growing at a CAGR of 6.9% during the forecast period 2017 to 2022.
Phosphate esters are mainly organic salts of orthophosphoric acid or organophosphorus compounds. The phosphate esters can be classified as natural and synthetic, depending on the raw materials used in their production. The esters produced from cresylic acid derived from coal tar are called natural phosphate esters.
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Phosphate Ester Market Growth Drivers and Restraints:
Growth in the global market is driven by growth in the automotive industry, advances in technology, increasing demand for coatings in the construction industry, and increasing demand for phosphate esters in the lubricants, personal care and cosmetics. The growth of the phosphate ester market is largely driven by strong demand for esters in lubricants used for a variety of purposes, including automotive, aviation, marine and industrial. These esters have many advantages over other surfactants. Its stability and its solubility in the alkaline state constitute its main advantage. They are also excellent hydrotropes and coupling agents, which offer high ignition temperatures and excellent oxidation stability. These are some of the other benefits of phosphate esters that are expected to drive the market in the years ahead.
However, fluctuations in commodity prices, uncertain global economic conditions and stringent environmental regulations are expected to hinder somewhat the growth of the global phosphate ester market.
The commercial adoption of bio-sourced esters, the increasing adoption of environmentally acceptable lubricants (EAL) and developing economies offer many growth opportunities for phosphate ester manufacturers.
The cleaning products and detergents, polymers and plastics, textiles and leather, agrochemicals, oil and gas, metalworking fluids, and so on are the prominent end-users of the world phosphate esters market.
Geographical Analysis of Phosphate Ester Market:
Geographically, the market can be divided into Asia Pacific, North America, Latin America, Europe, and Middle East and Africa. Asia Pacific leads the phosphate ester market. It is likely that its domain will continue during the forecast period. The growth of the end-use industries in Asia-Pacific is projected to fuel demand for phosphate esters in the region. Demand for plastics and polymers in developing countries such as China and India in the Asia-Pacific has steadily increased due to the industrial, economic and infrastructural development of these countries.
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Key Market Players of Phosphate Ester Market:
The main players in the global phosphate ester market include Lanxess AG, Akzo Nobel NV, Exxon Mobil Corporation, Solvay SA, Ashland Inc., Elementis plc and Stepan Company.
Phosphate Ester Market Segmentation:
By Type:
- Introduction
- Triaryl Phosphate Esters
- Alkyl Aryl Phosphate Esters
- Trialkyl Phosphate Esters
By Application:
- Introduction
- Lubricants
- Fire Retardants
- Surfactants
- Hydraulic Fluids
- Paints & Coatings
- Plasticizers
- Pesticides
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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