Phosphate Ester Market to Exhibit Favorable Growth Rate between 2015 and 2020

Also called as organophosphate, phosphate esters are mostly used as additives in lubricants, owing to their thermal stability and high lubrication properties. Phosphate ester is the generic name given to esters of phosphoric acid. They are a group of synthetic chemical compounds formed by the replacement of a hydrogen atom of an acid with hydrocarbon radical of an ethyl type. They are being adopted at a rapid pace across many industries because of their high performance, anti-wear properties, fire resistant, and safety as compared to others. Thus, looking at these advantages over other compounds, there has been an increase in the demand for phosphate esters, thereby triggering the growth of this market, globally.

Drivers for the Market

The growth of the global market for phosphate ester is majorly driven by the following factors:

  • High demand for phosphate esters from Asia-Pacific region
  • Developments and advancements in lubricants, surfactants, pesticides, and other applications
  • Growing industrialization
  • Economic developments
  • Growing population

Moreover, cheap labor and favorable rules and regulations by the government are also stimulating the growth of this market. However, the growth of this market may be inhibited by varying prices of raw materials, which may slow down its demand or applications.

Know the Market

The size of the global phosphate ester market which was estimated to be USD 736.4 Million in 2014 is projected to reach USD 1,018.8 Million by 2020, growing at a CAGR of 6.9% during the forecast period. Among regions, Asia-Pacific was the largest, accounting for about 55.5% of the total market share, by volume, in 2014. This trend is expected to continue over the forecast period as well, with the market growing at a CAGR of 7.4%, owing to increasing industrialization, emerging economies, and growing population in this region.

Among applications, the lubricants segment took up the largest share of about 21.4% of the total market, followed by surfactants.

Chemtura Corporation (U.S.), The Dow Chemical Company (U.S.), Exxon Mobil (U.S.), Castrol (U.K.), Akzo Nobel (Netherlands), Elementis Plc (U.K.), and LANXESS (Germany) are of the major companies functioning in the global market for phosphate ester.

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Research Scope

As per the researchers, the global phosphate ester market has been studied and forecasted on the basis of following segmentation:

  • Type: Tri Aryl/Alkyl Aryl Phosphate Ester, Tri Alkyl Phosphate Ester, Bisphosphates
  • Application: Lubricants, Surfactants, Pesticides, Fire Retardants, Hydraulic Fluids, Plasticizers, Paints & Coatings, Others
  • Region: Asia-Pacific, North America, Europe, RoW

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