Ocean View, DE -- (SBWIRE) -- 05/12/2020 -- Phosphate esters market are among the most commonly used non-aqueous synthetic fire resistant base stocks. Very low pressure and low heats of combustion make them difficult to burn and preferable for use in self-extinguishing fluids. In addition, properties such as excellent thermal and oxidation stability, superior fire resistance, exceptional boundary lubrication properties, and high autoignition temperatures make them suitable for use as fire retardants in the aerospace sector.

Industrial manufacturers extensively used fire retardants to minimize the risk of fire due to hydraulic leaks. A number of industrial fire incidents and explosions have occurred in the past due to lack of proper fire safety equipment. Such accidents can cost companies millions of dollars in addition to loss of life. These factors have encouraged manufacturers to switch to synthetic fluids.

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Global Market Insights, Inc., forecasts that global phosphate esters market size will hit a valuation of US$3 billion by 2025, with extensive application in agrochemicals, surfactants, fire retardants, and hydraulic fluids.

Top companies
1. BASF SE
2. Lanxess AG
3. Akzo Nobel N.V.
1. Elementis PLC
2. Solvay S.A.
3. Exxon Mobil Corporation
4. Eastman Chemical company
5. Ashland Inc.
6. Castrol Ltd.
7. Stepan Company
8. Dow Chemical company
9. Croda International Plc
10. Israel Chemical Ltd.
11. Clariant
12. Lakeland Laboratories Ltd.
13. Daihachi chemical co.

Growth Drivers

- Growth in aerospace industry in developed nations
- Steady growth in industrialization in APAC

Organophosphates are extremely versatile surfactants that offer a wide range of physical and chemical properties. One of the major benefits of the chemical over most other surfactants is its high solubility and alkali stability. In addition, phosphate esters are excellent hydrotropes as well as effective coupling agents owing to superior emulsification, detergency, and wetting properties.

Organophosphates are widely preferred over other surfactant on account of a wide range of structures and compositions that can be formed. This helps phosphate esters marke adapt to specific applications. Remarkable functional properties such as exceptional adhesion enhancement along with several other advantages make them desirable compared to typically used anionic surfactants.

Globally, phosphate ester consumption is slated to experience notable growth over the next few years. Their fire-resistant and anti-wear characteristics make them suited for applications across a range of industry verticals. Phosphate esters, also known as organophosphates (OPEs), are mainly used as fire resistant base stocks in applications such as compressors, turbines, and hydraulic fluids.

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A substantial upsurge in the global population over the past decade has significantly propelled the demand for food. To meet the surging food demand and close the gap between food production and consumption, farmers are increasingly using agrochemicals, such as fertilizers, pesticides, and insecticides, in agriculture. The use of these agrochemicals can offer significant benefits in terms of high yields of plant and animal crops and reduced spoilage during storage.

Phosphate esters market are ideal for the solubilization and emulsification of additives into water along with excellent wetting to ensure optimal spreading onto leaf surfaces and plants. Superior dispersing, emulsifying and wetting properties make the chemical useful in the formulation of agrochemicals like herbicides.

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Constant fluctuations in raw material prices is anticipated to be major growth hindering factor for phosphate ester market in the future. However, rapid expansion of the aerospace sector in developed regions and rapidly-growing industrialization in Asia Pacific will complement the industry outlook.