PUNE, India, April 29, 2016 /PRNewswire/ --
According to the new Market Research Report "North America Phosphate Esters Market: By Type (Tri Aryl/Alkyl Aryl Phosphate Esters, Tri Alkyl Phosphate Ester and Bisphosphates); By Application (Lubricants, Surfactants, Pesticides, Fire Retardants, Hydraulic Fluids, Plasticizers, Paints & Coatings, and Others); By Geography (U.S., Canada, and Mexico) - Forecasts till 2020", the North America phosphate esters market recorded a consumption of 58,580.3 MT in 2014; and is expected to reach 73,607.7 MT by 2020 at a CAGR of 3.9% from 2015 to 2020.
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Phosphate esters are compounds formed by replacing the hydrogen of an acid by a hydrocarbon radical of the ethyl type. They are also called as organophosphates. Phosphate esters belong to a class of anionic surface active agents. Though there are several other ester based fluids used in lubricants & hydraulic fluids, but phosphate esters are the widely used because of high performance and safety advantage over others.
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The U.S. is one of the fastest-growing phosphate esters market and the trend is expected to continue in the coming years. It accounted for a share of more than 65.5% of the total market size in terms of volume in 2014. The growing demand for food with the rise in growing population along with decreasing cultivable land is driving the demand for several fertilizers, herbicides and insecticides that use phosphate esters are driving the growth of the phosphate esters market.
Tri Aryl/Alkyl Aryl phosphate esters are the most widely used and hence accounted for the contributed a share of 66.8% to the phosphate esters market in 2014. The application of Tri Aryl/Alkyl Aryl phosphate esters are increasing with the increasing usage across end use industries such as flame retardants, plastics, and hydraulic fluids.
The growing demand for non-halogenated flame retardants have excellent balance of performance, cost, properties, and process ability. However, the concern regarding its use has compelled the industry to follow government regulations and directives, as well as develop non-halogenated flame retardant additives. This is turn would act as an opportunity for growth of this market.
Key Players of North America Phosphate Esters Market includes:
The key players in the North America phosphate Esters market are Chemtura Corporation (U.S.), Lanxess (Germany), Castrol (U.K.), Exxon Mobil Corp (U.S.), RHODIA (France), Solutia Inc. (U.S.), Elementis Plc (U.K.), the Dow Chemical Company (U.S.), and others.
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