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Phosphate Ester Market Size & Share, by Source (Natural, Synthetic); Type (Alkyl Aryl Phosphate Ester, Trialkyl Phosphate Ester, Triaryl Phosphate Ester); Application (Fire Retardant, Pesticides, Lubricant, Surfactant); End-user (Automotive, Paints & Coatings, Plastic, Agrochemicals) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4329
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Phosphate Ester Market size is expected to reach USD 2200 Million by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of phosphate ester was USD 1000 Million. 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. Further, the increasing incidences of fire outbreaks are bound to raise the demand for fire extinguishers across the world. This, in turn, is also 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 as a result of fire, compared to the year 2010.

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. 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. Besides this, the boosting demand of phosphate esters as agrochemical additives is also fueling the growth of the market over the projected timeframe.

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Phosphate Ester Sector: 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. For instance, 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 – For instance, the global cosmetics industry grew by nearly 12% in 2021 compared to the year before, as per industry research.

  • 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

  • Hefty Cost of Phosphate Ester - Phosphate esters are usually five times as expensive than their mineral counterparts. Phosphate esters are an organophosphorus chemical family that consists of a complex mixture of monoester, diester, phosphoric acid, and free nonionic material. The price hike is being caused by the increasing raw material costs. This factor is estimated to lower the growth of the market during the forecast period.
  • Health Hazard if Exposed for Longer Period
  • Need for Special Handling and Storage

Phosphate Ester Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 1000 Million

Forecast Year Market Size (2035)

~ USD 2200 Million

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Phosphate Ester Segmentation

Type (Alkyl Aryl Phosphate Ester, Trialkyl Phosphate Ester, Triaryl Phosphate Ester)

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 approximately 4% in the coming decades. This steady development in the aerospace industry is likely to propel the global phosphate ester market growth.

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

      By Source
  • Natural
  • Synthetic

      By Type
  • Alkyl Aryl Phosphate Ester
  • Trialkyl Phosphate Ester
  • Triaryl Phosphate Ester

      By Application
  • Fire Retardant
  • Pesticides
  • Lubricant
  • Surfactant

 

      By End User
  • Automotive
  • Paints & Coatings
  • Plastic
  • Agrochemicals
  • Others

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Phosphate Ester Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific phosphate ester market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The population expansion, rapid urbanization. Moreover, massive demand for power supply are predicted to impel the growth of the phosphate ester market in the region, as specially refined phosphate base stocks and additives are used in the manufacture of turbofluids that are employed in power generation applications. For instance, China generated about 8000 terawatt hours of electricity in 2021, roughly 9% more when compared to its yield in 2020.

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Companies Dominating the Phosphate Ester Landscape

top-features-companies

    • 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

In the News

  • 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.

  • 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.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4329
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Use of phosphate ester in automotive and agriculture industries as well as its use for mosquito control in public places are some of the major factors driving the growth of the phosphate ester market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

Hefty cost of phosphate ester, and the probability of health concerns if exposed for long duration are some of the challenges affecting market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Prasol Chemicals Limited, LANXESS AG, SONGWON Industrial Group, ADEKA Corporation, BASF SE, Clariant Ltd., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by source, type, application, end user, and by region.

The triaryl phosphate ester segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Phosphate Ester Market Report Scope
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