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Industry is witnessing steady growth from Asia Pacific and North America due to increased use of non-halogenated phosphorus esters in numerous market applications

Author : Ravi Chawat | Published Date : 2021-02-08 

The phosphate esters market is set to grow from $1.7 billion in 2017 to $3 billion by 2025, according to a 2018 Global Market Insights, Inc. report. The industry is witnessing steady growth from Asia Pacific and North America due to increased use of non-halogenated phosphorus esters in numerous industrial applications.

The escalating number of property renovation projects and modern construction systems in the region will further stimulate the demand for the phosphate esters market. 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.

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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. Dibutyl phenyl phosphate is solely used as an aircraft hydraulic fluid and trixylenyl phosphate is utilized exclusively in the formation of industrial hydraulic fluids. Therefore, increasing usage of the product as a base stock substrate will propel phosphate ester market in coming years.

Stringent regulatory compliances related to the toxicity of the product used as pesticides and fertilizers and development of cost-effective alternatives to the product is expected to hinder the progress of the phosphate esters market in the near future. Moreover, development of bio-based esters will likely generate lucrative opportunities during the forecast timespan.

With over 40% of the industry share triaryl phosphate esters 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.

Browse Related Reports:

https://www.gminsights.com/industry-analysis/magnesium-phosphate-market

https://www.gminsights.com/industry-analysis/sodium-pyrophosphate-market

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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