Triethyl Phosphate Market Size & Share, by Grade (Industrial, Superior); Application (Chemical Catalyst, Flame-Retardant, Organic Solvent, Pesticide Intermediates) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5815
  • Published Date: Mar 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Triethyl Phosphate Market size is poised to surpass USD 1 Billion by the end of 2036, growing at a CAGR of 2% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of triethyl phosphate was USD 94 Million. The reason behind the growth is impelled by the growing production of chemicals across the globe. The global chemical sector has experienced significant growth as chemical producers are making significant global investments in research and development (R&D), and owing to the rising need for processes and goods dependent on chemicals,

For instance, in 2023, global chemical production (apart from medicines) increased by more than 1.0%. Particularly, global chemical production is expected to increase by around 2% on average from 2023 to 2025.

The growing demand for acetic anhydride is believed to fuel the triethyl phosphate market growth. Acetic anhydride is a raw material that can be utilized in chemical synthesis and is a necessary raw ingredient in the production of aspirin, acetaminophen, and other medications.


Triethyl Phosphate Market
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Triethyl Phosphate Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Plasticizers – Triethyl phosphate, is a colorless, transparent liquid with a faint but agreeable smell which is beneficial as a plasticizer for unsaturated polyester resins that are resistant to flame.
  • Growing Demand for Agrochemicals- Organophosphorus compounds include triethyl phosphite which can be used in formulations applied before a crop emerges from the soil and also serves as a stabilizing agent and a bridge between agricultural chemicals.
  • Increasing Usage in Textiles- The triethyl ester derivative of phosphoric acid is triethyl phosphate, often known as trialkyl phosphate, which is utilized in the production of textiles, leather, and fur.
  • Surging Paper and Pulp Industry- Triethyl Phosphate (TEP) is a solvent with the chemical formula (C2H5)3PO4, that is colorless, corrosive, and mildly odorous and is widely employed as an auxiliary agent in paper products.

Challenges

  • Toxic Nature of Triethyl Phosphate - Fatty acids like triethyl phosphate (TEP) have been demonstrated to have long-term harmful consequences after oral, cutaneous, or inhalation exposures. Triethyl phosphate causes redness, tearing, stinging, and swelling in the eyes, and extended exposure to vapors can lead to conjunctivitis. Carbon dioxide, carbon monoxide, phosphorus oxides, and other potentially hazardous fumes or gases may be released during heating and subsequent decomposition of triethyl phosphate therefore it is toxic and has a narcotic effect that can catch fire at high temperatures when used in large quantities, and could cause effects on the central nervous system.
  • Varying prices of raw materials such as renewable solvents including ethanol can impact the production costs and the availability of the product
  • Availability of alternative products may impact the adoption of triethyl phosphate.

Triethyl Phosphate Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~2%

Base Year Market Size (2023)

~ USD 94 Million

Forecast Year Market Size (2036)

~ USD 1 Billion

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 the Middle East and Africa)
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Triethyl Phosphate Segmentation

Grade (Industrial, Superior)

The industrial segment in the triethyl phosphate market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing need for flame retardant chemicals. The term "flame retardants" refers to a range of compounds that are mixed with flammable materials to either stop fires from starting or limit their spread and designed to fulfill exact product requirements and fireproof standards, making it appropriate for a range of substrates in a variety of sectors. By stifling the chemical reactions in the flame or by creating a protective layer on the surface, flame retardants prevent or slow the spread of fire, and this role extends the time for evacuation for safeguarding people, things, and the environment in the process. To comply with flammability regulations, flame retardants are commonly applied to both consumer and industrial goods such as foam, upholstery, carpets, curtains, electronics, electrical equipment (such as computers, phones, and home appliances), and transportation. The plastics and resins sector is the primary user of flame retardants, which are also essential for under-the-hood, structural, and functional thermoplastic elements in automobiles.

 Triethyl phosphate is a key industrial catalyst that is used in the plastics sector as a plasticizer, flame retardant, and carrier and is available in the matrix. Moreover, it is a flame retardant free of halogens which is usually used for creating polyurethane resins and foams that don't catch fire.

Application (Chemical Catalyst, Flame-Retardant, Organic Solvent, Pesticide Intermediates)

The pesticide intermediates segment in the triethyl phosphate market is set to garner a notable share shortly. In addition to being used as an intermediate in the production of insecticides, triethyl phosphate is also used as a raw material to make pesticides. Besides this, it has flame-retardant qualities and is employed as a catalyst in several different processes, including the ketene process, which produces acetic anhydride. Furthermore, triethyl phosphate is a clear, colorless liquid that dissolves readily in water, ethanol, and organic solvents such as benzene and ether that find extensive use as a solvent in various fields.

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

          Grade

  • Industrial
  •  Superior

          Application

  • Chemical Catalyst
  •  Flame-Retardant
  •  Organic Solvent
  •  Pesticide Intermediates

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Triethyl Phosphate Industry- Regional Synopsis

APAC Market Forecast

The triethyl phosphate market in Asia Pacific is predicted largest revenue share of 40% by 2036 impelled by the growing production of acetic anhydride. India can produce over 94,000 metric tons of acetic anhydride per year. For instance, India produced more than 75 thousand metric tons of acetic anhydride in 2022. A large number of Indian producers make acetic acid for internal use owing to the region's expanding need for acetic anhydride as a raw material and to meet the growing demand for acetic anhydride in pharmaceutical production.

In addition, the Ministry of Agriculture and Rural Affairs (MARA) is responsible for regulating pesticides in China, which is the world's largest pesticide consumer and is frequently accused of overusing pesticides, even though these chemicals are essential for increasing crop productivity by lowering crop pest losses. In 2022, the total yearly manufacturing volume of chemical pesticides in China was more than 2 million tons. Besides this, India is currently the world's fourth-largest producer of pesticides which are mostly applied to cotton, paddy, wheat, sugarcane, lentils, and vegetables.

North American Market Statistics

The North America triethyl phosphate market is estimated to be the second largest revenue share, during the forecast period led by the growing textile sector. It is projected that the United States will represent the largest textile market in the North American continent, which is a large, vibrant sector with enormous growth potential owing to the growing e-commerce platforms and the fashion industry's rising need for clothes. In addition, one of the biggest countries in the world for national chemical product production is the United States which caters to a sizeable domestic triethyl phosphate market as well as a growing international market. According to estimates, in 2022, the US chemical sector expanded its output volume by more than 4%.

European Market Analysis

Also, the triethyl phosphate market in Europe is poised to hold a significant revenue share by the end of 2036 driven by the growing construction activities. The EU's economy greatly depends on the construction sector, which is expanding rapidly owing to several government programs, technological breakthroughs in the field, and rising demand for sustainable building materials.

Research Nester
Triethyl Phosphate Market size
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Companies Dominating the Triethyl Phosphate Market

top-features-companies
    • Yangzhou Debang Chemical Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Hongzheng Chemical
    • Ningguo LongDay Chemical
    • Zhang Jia Gang Yarui Chemical Co., Ltd
    • Wuxi City Hongxing Chemical Factory
    • Jilin Yonglin
    • Zhangjiagang Xinyi Chemical Co., Ltd
    • Donghu Chemical
    • Victory Chemical
    • Arvind Limited
    • PCBL Ltd.

In-the-news

In The News

  • Arvind Limited announced a partnership with PurFi Global LLC to reduce the amount of textile waste going to landfills and help power the textile industry's upcoming wave of expansion while having a remarkably small negative environmental impact.
  • PCBL Ltd. acquired Aquapharm Chemicals Pvt Ltd to enter into the international specialty markets of oil and gas and water treatment chemicals.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5815
  • Published Date: Mar 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing production of chemicals across the globe and the growing demand for acetic anhydride are the major factors driving the growth of the market.

The market size of Triethyl Phosphate is anticipated to attain a CAGR of 2% over the forecast period, i.e., 2024-2036.

The major players in the market are Hongzheng Chemical, Ningguo LongDay Chemical, Zhang Jia Gang Yarui Chemical Co., Ltd, Wuxi City Hongxing Chemical Factory, Jilin Yonglin, Zhangjiagang Xinyi Chemical Co., Ltd, Donghu Chemical, Victory Chemical, and others.

The industrial segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Triethyl Phosphate Market Report Scope
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