NEW YORK, Aug. 24, 2017 /PRNewswire/ -- "The phosphate esters market is projected to grow at a CAGR of 6.9% from 2017 to 2022"
The phosphate esters market is estimated to be USD 843.9 million in 2017 and is projected to reach USD 1,179.8 million by 2022, at a CAGR of 6.9% from 2017 to 2022. The growth of the phosphate esters market is primarily driven by the increasing demand from the Asia Pacific region. Increased usage of non-halogenated phosphorus esters in various application industries, such as lubricants, paints & coatings, and surfactants, among others, is expected to further fuel the growth of phosphate esters market during the forecast period. Phosphate esters are more environment-friendly as compared to other fire retardants but are priced higher than these retardants. Any low-cost substitute will pose a threat to the phosphate esters market during the forecast period.
"Alkyl aryl phosphate esters type is estimated to be the largest segment of phosphate esters market in 2017"
Alkyl aryl phosphate esters are produced by the reaction of intermediate alkyl or aryl phospho- chloridate with alcohol (phenol). The growth of the alkyl aryl phosphate esters segment can be attributed to their increasing use as lubricating and antistatic agents in synthetic fibers and as stabilizers in vinyl plastics and peroxide solutions.
"The plasticizers application segment is expected to be the fastest-growing application segment of the phosphate esters market during the forecast period"
Excellent fire-retardant properties, good gelling behavior, low-temperature performance, and self-extinguishing properties make phosphate esters an excellent choice for use as plasticizers with various polymers, such as polyvinyl chloride, thermoplastic polyurethane, and polyurethane foams. Phosphate esters improve the behavior of plasticized polymers. Owing to these properties the demand for phosphate esters in plasticizers is expected to witness the highest growth during the forecast period.
"Asia Pacific is expected to be the largest and fastest-growing market for phosphate esters during the forecast period"
Asia Pacific is expected to lead the phosphate esters market during the forecast period. The increasing demand for phosphate esters from emerging economies such as China and India is propelling the growth of the phosphate esters market in Asia Pacific. China is a major producer of phosphate esters and the consumption of phosphate esters is growing in various applications in the country, owing to their fire-retardant property.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 35 %, Tier 2 – 30%, Tier 3 – 35%
• By Designation: C level – 16%, Director level – 17%, Others – 67%
• By Region: Asia Pacific – 45%, North America – 25%, Europe – 25%, Middle East & Africa – 8%, South America – 4%
As a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as Lanxess AG (Germany), Elementis plc (UK), Akzo Nobel N.V. (Netherlands), Solvay S.A. (Belgium), Exxon Mobil Corporation (US), Ashland Inc. (US), and Stepan Company (US), among others.
The report defines, segments, and projects the phosphate esters market based on type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyzes their market share and core competencies and tracks. The report analyzes competitive developments, such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities undertaken by key players to achieve growth in the market.
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