Global Phosphate Esters Market: Overview
Phosphate esters, popularly known as organophosphates, are esters of phosphoric acid and form the foundation of the production of many agrochemicals. Phosphate esters primarily find applications as lubricant additives. These compounds are organic salts of orthophosphoric acid or organophosphorus compounds. They are active anionic surfactants, which are produced as free acids.
Global Phosphate Esters Market: Growth Factors
Massive application of these products in myriad industries such as flame retardant, detergent, food, wastewater treatment, paints and coatings, and surfactant, owing to their stability will proliferate the growth of Phosphate esters market in the years ahead. These products are excellent hydro types as well as coupling agents and provide high ignition temperatures along with outstanding oxidation stability. In addition, the massive application of phosphate esters in emulsion polymerization, metal finishing, textile auxiliaries, and maintenance chemicals will drive the Phosphate esters market trends in the near future. However, the processes & systems making use of phosphate esters involve high maintenance costs and this will hamper the growth of phosphate esters market in the years ahead. Nevertheless, the massive use of phosphate esters in polymer & plastics, oil & gas, metalworking fluids, agrochemicals, and textile & leather sectors as a result of their fire resistant & self-extinguishing features will enlarge the scope of Phosphate esters market in the near future.
Global Phosphate Esters Market: Segmentation
The global Phosphate esters market can be classified into type and application. Based on the type, the market is sectored into Triaryl Phosphate Ester, Trialkyl Phosphate Ester, and Alkyl Aryl Phosphate Ester. Based on the application, the market is segmented into Surfactants, Fire Retardants, Lubricants, Agrochemicals, Plasticizers, and Hydraulic Fluids.
Global Phosphate Esters Market: Regional Analysis
Based on regions, the global Phosphate esters market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Growth in end-use industries of phosphate esters in the Asia Pacific is projected to fuel the demand for phosphate esters in the APAC region. Demand for plastics and polymers in Emerging economies such as China and India in the Asia Pacific has been increasing continuously due to the industrial, economic, and infrastructural development in these countries. Furthermore, Asia Pacific is one of the highly attractive and rapidly growing markets for agrochemicals. This is also augmenting the demand for phosphate esters in the region.
With U.S. Environmental Protection Agency stating the products to be toxic to human beings as well as wildlife, the phosphate esters market in North America is anticipated to witness a sluggish growth. Even the country such as the UK has been monitoring the harmful effects of phosphate esters on humans, microbes and animals, thereby restricting the phosphate esters market growth in the region.
Global Phosphate Esters Market: Competitive Players
Some of the key players in Phosphate esters market are Lanxess AG (Germany), Elementis plc (UK), Akzo Nobel N.V. (Netherlands), Solvay S.A. (Belgium), Exxon Mobil Corporation (U.S.), Ashland Inc. (U.S.), and Stepan Company (U.S.).
Global Phosphate Esters Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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