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Phosphate Esters Market Statistics – 2027
Phosphate esters are organic compounds better manufactured from the reaction of alcohol and phosphoric acid. These esters are generally salts of orthophosphoric acid and act as active anionic surfactants. Phosphate esters are also used as drilling fluids and in lubrication when combined with polyethylene glycol. They also exhibit high ignition temperature and oxidation stability and are also used as coupling agent. Phosphate esters have a wide range of applications in several end-user industries such as polymer & plastics, oil & gas, textile, and others.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global phosphate esters market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for the rise in requirement of phosphate esters is its outstanding fire resistance and self extinguishing properties. It is extensively used in hydraulic systems turbines as phosphate esters exhibit excellent properties as antioxidants and resistance to wear and tear. Owing to its thermal stability, phosphate esters have several major applications in the polymer and plastics sector. It is used in the production of wires and cables and several different products such as fire resistant fabrics, wall coverings, and more. However, the low viscosity index and the prevailing risk for hydrolysis of the compound limit the market growth.
In terms of market share, the Asia-Pacific region holds a significant share of the global phosphate esters market because of the high demand for phosphate esters in the plastic and polymer manufacturing sectors in the region. The rise in infrastructural and economic development of the emerging economies such as India and China is also expected to boost the growth of the phosphate esters market during the forecast period.
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