Phosphate Esters Market Size

Phosphate Esters Market Size

Global Phosphate Esters Market size was estimated over USD 1.7 billion in 2017 and will exhibit growth of 8% up to 2025. Plasticizers application segment held the second-highest share in 2017  and is estimated to dominate the global market over the forecast period.

Phosphate esters market is primarily driven by its increasing applicability ranging from plasticizer and lubricants to Hydraulic fluids. Phosphate esters are a class of organophosphorus compound that are complex mixture of monoester, diester, free phosphoric acid and free nonionic material. These organophosphates esters find widespread usage in numerous consumer-oriented and industrial products where fire retardancy is a desirable property.
 

It is used primarily as fire-resistant base stocks in several applications including turbines, hydraulic systems and compressors. Their excellent oxidation stability, high ignition temperatures and low vapor pressures will hinder ignition, while their low heats of combustion result in self-extinguishing fluids. Recent developments in the automotive industry, booming construction sector and stable developments in aviation & marine have propelled new potential uses of phosphate esters. They are excellent hydrotropes and are effective coupling agents which give outstanding wetting, emulsification and detergency.
 

Flourishing infrastructural and agricultural developments and installation of new industrial plants in the developing markets are in favor for modern, state-of-the-art technology. These trends will result in emergence of new environmentally friendly products. Phosphate ester are considered among the most versatile surfactants. Their stability and solubility in alkali state is the major advantage. They have wide applicability in manufacturing household cleaning products such as detergents, soaps, fabric softeners etc. Steadily growing GDPs combined with rising per capita income of people in developing nations and increased usage of phosphate esters in several end-use industries such as aerospace, defense and agriculture are key factors contributing to phosphate esters market growth.
 

Gradual shift in trend towards development of bio-based esters is anticipated to witness growth, which will eventually generate lucrative opportunities for medium to small scale manufacturers. However, shortage in the supply of raw material and their rapidly increasing costs are of great concern, since these costs are in turn passed on to the end-users.