Phosphate Esters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The phosphate esters market is expected to grow at a CAGR of over 6% during the forecast period. Major factor driving the market studied is growing demand of phosphate esters as fire retardants. On the flip side, government restrictions on usage of phosphate esters in food and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

Key Highlights

• Growing demand of phosphate esters as agrochemical additives is forecasted to offer various opportunities for the growth of the market over the forecast period.
• Phosphate esters from fire retardant application is expected to dominate the market studied over the forecast period.
• Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Growing Demand of Phosphate esters as Fire Retardants

• Phosphate esters are natural esters that, when utilized with carefully chosen added substances, give a gathering of manufactured liquids that can be utilized where fire resistance is required.
• Phosphate esters are the most fire resistant of the non-aqueous synthetic basestocks in common use. Their high ignition temperatures, excellent oxidation stability and very low vapor pressures make them difficult to burn.
• Phosphate esters are added to consumer and industrial products in order to reduce flammability and used in plasticizers, hydraulic fluids, solvents, extraction agents, antifoam agents, and coatings for electronics.
• Additionally phosphate esters can be used in spray dried, powder blended and liquid laundry detergents as low foaming detergent/hydrotropes
• Various fire standards around the world increases demand for flame retardants. In Europe, all materials for building and construction have to meet the fire requirements according to EN 13501.
• Hence, owing to the above-mentioned factors, the application of phosphate esters from fire retardants application is likely to dominate during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for phosphate esters during the forecast period. The rising demand of phosphate esters from Fire Retardants and growing application as surfactants in developing countries like China, Japan and India is expected to drive the demand for phosphate esters in this region.
• The largest producers of phosphate esters are located in Asia-Pacific region. Some of the leading companies in the production of phosphate esters are LANXESS Deutschland GmbH, Exxon Mobil Corporation, Solvay, Eastman Chemical Company, and Dow among others.
• According to China statistical yearbooks, the construction industry has contributed considerably to China’s economic development and the urbanization process and the gross output of the construction industry in China has increased from USD $0.21765 trillion to USD $2.902 trillion dollars which in turn boosts the demand for phosphate esters as flame retardants.
• Increasing demand of surfactants in countries like India and China with rising population and GDP boosts the demand of phosphate ester from surfactants.
• Owing to the above-mentioned factors, the market for phosphate esters in the Asia-Pacific region is projected to grow significantly during the study period.

Competitive Landscape

The global phosphate esters market is partially fragmented in nature with only few major players dominating the market. Some of the major companies are LANXESS Deutschland GmbH, Exxon Mobil Corporation, Solvay, Eastman Chemical Company, and Dow among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support