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CHEMICALS AND ADVANCED MATERIALS

Global Phosphate Ester Market Analysis by Source (Natural, and Synthetic); by Type (Alkyl Aryl Phosphate Ester, Trialkyl Phosphate Ester, and Triaryl Phosphate Ester); by Application (Fire Retardant, Pesticides, Lubricant, and Surfactant); and by End User (Automotive, Paints & Coatings, Plastic, Agrochemicals, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • June 14, 2022: Solvay S.A. launched biosurfactants called Mirasoft SL L60 and Mirasoft SL A60 to be used in a wide range of cosmetics such as shampoos, conditioners and face washes. They are biodegradable, effective and cost-efficient

  • August 23, 2019: Ashland Inc. announced the launch of innovative coating additive called the Strodex PK-86NV, a phosphate ester surfactant, that is able to provide substrate wetting, increased gloss, and enhanced color to waterborne architectural coatings

Global Phosphate Ester Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Phosphate Ester Market Regional Table

The global phosphate ester market is estimated to garner a revenue of about USD 1900 million by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of approximately USD 1000 million in the year 2021. The extensive use of phosphate ester in multiple industries such as automotive, construction, and agriculture is expected to provide the stimulus necessary for the growth of the global phosphate ester market. Phosphate ester is known for its intrinsic fire-retardant ability which makes it valuable in extinguishing fires that are rampant across the globe. The increasing incidences of fire outbreaks are bound to raise the demand for fire extinguishers across the world. This, in turn, is estimated to boost the market growth. According to the United States Fire Administration, there were almost 1.3 million incidents of fires in the US in 2019, and more than 24% rise in deaths due to fire, compared to the year 2010.

Phosphate Ester Market Overview

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Phosphate Esters are also called Organophosphates (OPEs). They form the backbone of nucleic acids - DNA and RNA, that are vital for the storage and transmission of genetic material. Phosphate Esters are biochemical intermediates in the conversion of food into energy in plants and animal cells. They are highly used in the production of cleaners and detergents used in homes, institutions and industries owing to their wetting, anti-static and emulsifying properties. As per research, there was a rise in the amount spent by Europeans on household cleaning products such as surface care, dishwashing and bleaches, from USD 30 billion in 2019 to almost USD 33 billion in 2020, on the back of the pandemic.

Global Phosphate Ester Market: Growth Drivers and Challenges

Growth Drivers

  • Widespread Use in Automotive Industry – Used mainly as lubricant additives in vehicles, the global phosphate ester market is expected to expand on the back of the growth in automotive industry. Around 80 million motor vehicles were manufactured worldwide in 2021, a rise of ~2% compared to the numbers in 2020.

  • Increasing Use in Pesticides – Phosphate Esters are extensively used in agriculture as a pesticide owing to their toxic nature as well as their biodegradability. Over 2.6 million tons of pesticides were used all over the world in 2020, according to the Food and Agriculture Organization of the United Nations.

  • Growing Use in Mosquito Control- According to the World Health Organization (WHO), globally around 241 million people were afflicted with malaria in 2020.

  • Expansion in Cosmetics Industry – Phosphate Esters provide surfactant and conditioning quality to shampoos and other hair care products. The global cosmetics industry grew by ~12% in 2021 compared to the year before, as per industry research. This trend is expected to drive the global phosphate ester market growth.

  • Growth in Construction Industry – Phosphate esters are used in the manufacture of a whole range of products used in construction industry such as PVC, TPU, thermosets and others. The construction industry in India grew by ~6% in 2020 and contributed about USD 34 billion to the country’s GDP in 2019, according to a recent study.

Challenges

  • Prevalence of Cheaper Alternatives
  • Health Hazard if Exposed for Longer Period
  • Need for Special Handling and Storage

The global phosphate ester market is segmented and analyzed for demand and supply by type into alkyl aryl phosphate ester, trialkyl phosphate ester, and triaryl phosphate ester. Of these segments, the triaryl phosphate ester division is expected to observe the highest growth during the forecast period owing to its increasing use as plasticizers and fire retardants. Triaryl phosphate esters are used in aircraft flight control systems, power steering systems as well as in fire-resistant hydraulic fluids. From around USD 500 billion in 2021, the worldwide commercial airlines revenue grew to almost USD 790 billion in 2022. The aviation industry is estimated to grow by ~4% in the coming decades. This steady development in the aerospace industry is likely to propel the global phosphate ester market growth.

Major Macro-Economic Indicators Impacting the Market Growth

Phosphate Ester Market Region

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Phosphate Ester Market Regional Synopsis

Regionally, the global phosphate ester market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific region is projected to hold the largest market share by the end of 2031. The population expansion, rapid urbanization, and a massive demand for power supply are predicted to impel the growth of the phosphate ester market in the region. For instance, China generated about 8000 terawatt hours of electricity in 2021, roughly 9% more when compared to its yield in 2020. Specially refined phosphate base stocks and additives are used in the manufacture of turbofluids that are employed in power generation applications.

Phosphate Ester Market Regional Synopsis

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The global phosphate ester market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global phosphate ester market includes the following segments:

By Source

  • Natural
  • Synthetic

By Type

  • Alkyl Aryl Phosphate Ester 
  • Trialkyl Phospahted Ester
  • Triaryl Phosphate Ester

By Application

  • Fire Retardant 
  • Pesticides
  • Lubricant
  • Surfactant

By End User

  • Automotive 
  • Paints & Coatings 
  • Plastic
  • Agrochemicals
  • Others

Top Featured Companies Dominating the Global Phosphate Ester Market

  • Prasol Chemicals Limited

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • LANXESS AG
  • SONGWON Industrial Group
  • ADEKA Corporation
  • BASF SE
  • Clariant Ltd.
  • Stepan Company
  • Ashland Inc.
  • Solvay S.A.
  • Elementis plc

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