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North America Phosphate Esters Market Is Forecast To Experience Gains Exceeding 7.5% CAGR From 2018 To 2025

Author : Ronak Bora | Published Date : 2019-05-24 

In terms of volume, with U.S. at its foray, North America phosphate esters market is anticipated to register a CAGR of 7.5% over 2017-2025. The massive investment in research and development in industrial equipment and manufacturing components, particularly in the U.S., is poised to accelerate the regional industry expansion in the ensuing years. The overall use of non-halogenated phosphorus esters in myriad industrial applications is also expected to favor the product demand. Estimates claim that this surge in demand has mainly triggered the regional business for triaryl phosphate ester, which is alone forecast to exceed USD 350 million by 2025. The data also significantly goes on to validate that North America phosphate ester market is all set to experience a growing investment interest from potential stakeholders in the coming years.

Phosphate esters market 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 product. 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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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.

Unveiling the application landscape of the global phosphate esters industry

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.

Type By Application

  • Triaryl Phosphate Esters
  • Trialkyl Phosphate Esters
  • Alkyl Aryl Phosphate Esters

By Application

  • Surfactants
  • Fire Retardants
  • Lubricants
  • Agrochemicals
  • Plasticizers
  • Hydraulic fluids
  • Others

Besides the fire-retardant application, two prominently emerging application segments of the global phosphate esters market 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.

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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.

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

BASF SE, Lanxess AG, Israel Chemical Ltd, Solvay S.A., Lakeland Laboratories Ltd., Ashland Inc., Daihachi chemical company, Akzo Nobel N.V., and Elementis PLC are some of the other prominent companies operating the global phosphate esters market.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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