Phosphate Esters Market Worth 1,179.8 Million USD by 2022

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The growth of the phosphate esters market is driven by the increasing demand from Asia Pacific and the Middle East & Africa and the increased use of non-halogenated phosphorus esters in various applications, such as lubricants, paints & coatings, and surfactants, among others.

Based on type, the triaryl phosphate esters segment is estimated to be the fastest-growing segment of the market in 2017 

The triaryl phosphate esters segment is expected to be the fastest-growing segment of the phosphate esters market in 2017. Triaryl phosphate esters are widely used as fire retardants and hydraulic fluids, owing to their self-extinguishing properties. As hydraulic fluids, they offer excellent anti-foaming properties under extreme conditions. The viscosity of phosphate esters is retained during their life cycle, which provides good corrosion protection for a longer period. Owing to these properties, phosphate esters are widely used as hydraulic fluids in power station turbines. Asia Pacific and North America are the major markets for triaryl phosphate esters, in terms of value and volume.

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The lubricants application segment is estimated to be the largest segment of the phosphate esters market in 2017

The lubricants segment is estimated to be the largest application segment of the phosphate esters market. Phosphate esters are used as lubricants in industrial applications, such as turbines and compressors, due to their excellent oxidation stability and good anti-wear properties. Phosphate esters offer excellent flame retardant property, high ignition temperatures, excellent oxidation stability, and very low vapor pressures, which makes them difficult to burn. This has resulted in their increased demand for fire resistance lubricants in the recent years.

Asia Pacific is expected to witness the highest growth in the phosphate esters market during the forecast period 

Asia Pacific is expected to be the fastest-growing market for phosphate esters during the forecast period, owing to the presence of high growth economies in the region. Emerging countries, such as China and India are the world's major producers and consumers of phosphate esters.

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Key players operational in the Phosphate Esters Market Include 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.

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