Phosphate Esters Market Analysis

Phosphate Esters Market Analysis

Based on Type, the global phosphate esters market has been segmented into Triaryl, Trialkyl, Alkyl Aryl and others such as bisphosphate. Based on volume, the triaryl segment will hold the maximum share of over 40%. Due to their anti-foaming properties, it finds significant usage in hydraulic fluids used in power steering systems, hydraulic brakes, aircraft flight control system, etc. The product also has extended application as fire retardants due to its enhanced self-extinguishing properties.

Based on revenue, the trialkyl phosphate esters segment was more than USD 200 million in 2017 owing to its growing usage as plasticizers, lubricating fluids, nuclear-processing additives, and flame retardants. The growth in their applications has triggered an increased awareness of their environmental impact.

The global phosphate esters market has been segmented on the basis of application into surfactants, fire retardants, lubricants, agrochemicals, plasticizers, hydraulic fluids and others. The others segment includes paints & coatings, dispersants, emulsion polymerization, etc. In 2017, fire retardant segment held a prominent share of more than 20% of the global market. Growing population along with advanced living standards has significantly upsurge sustainable products. Phosphate esters are broadly used in automobile industry in die casting equipment and foundries, steel industry, and other industries where high temperature could pose fire hazards. Phosphate-esters are well known multifunctional additives for metalworking fluids. They are emulsifiers for expandable oils, as well as anti-wear additives, corrosion and staining inhibitors.
 

In 2017, plasticizers application held the second highest share of the global phosphate esters market and will witness growth at over 7% CAGR from 2018 to 2025. The major consumer product for phosphate ester as plasticized poly vinyl chloride are automotive & truck interiors, as vinyl-coated fabric upholstery, vinyl film upholstery, wire and cable coating and insulation.
 

Based on revenue, Asia Pacific region is a key contributor with significant growth opportunities owing to rising demand for advanced consumer products and automotive production in the region. Additionally, China, India and South Korea collectively accounted for over 45% of the regional share in 2017. Recuperation in industrialized economies and a robust growth in the developing markets of China, India, Vietnam, Thailand and Indonesia will subsequently augment investments in industrial, aerospace & defense, construction & textile and oil & gas industries. For example, the government of China had incorporated 46 pilot projects, with focus on technological developments to impose smart manufacturing as an initiative to ‘Made in China 2025’. Furthermore, shift in manufacturing hubs due to availability of inexpensive labor and raw materials in India, Indonesia, Thailand, and China, are major aspects stimulating the revenue outflow of phosphate esters market share in the region.