The phosphate esters market in North America is anticipated to grow from 2015 to 2020, due to the increased emphasis on safety. Industries in North America that manufactures and uses phosphate esters are more focused about the safety policies. Also, Environmental Protection Agencies are emphasizing on requirements for halogen-free materials. Non halogenated phosphorous esters are driving the market in applications like paints and coatings, and surfactants. In addition, the use of non-halogenated flame retardants in electronics and electrical segment has increased as they provide excellent fire behavior and impact resistance.
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Phosphate esters have wide range of usage in applications like lubricants, surfactants, pesticides, fire retardants, hydraulic fluids, plasticizers and paints & coatings. The growing end user industry is also the reason for growth of phosphate esters in North America. There is a large demand from these application industries which further drives the phosphate ester market.
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The lubricants application segment accounted for the largest share of the North America phosphate ester market and is anticipated to be increasing in the coming years. Increased service implementation of longer drain interval oils with the rise in penetration of synthetics, increasing oil analysis practices and commercial vehicles mechanical efficiency has led to the growth of this segment.
The tri aryl/alkyl aryl phosphate esters segment is the largest and the fastest-growing segment in the North American market. It is expected to contribute a major share to the overall market, due to its usage into quench oils, which improves antiwear performance.
In North America phosphate esters market, the U.S. is the fastest-growing market followed by Canada & Mexico. 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 uses phosphate esters.
The North America phosphate ester market is technologically diverse and highly competitive, with a growing number of regional players entering this field. In 2014, the phosphate ester market was dominated by five players, Chemtura Corporation (U.S.), The Dow Chemical Company (U.S.), Exxon Mobil (U.S.), Castrol (U.K.), and Akzo Nobel (Netherlands). They are the key players and constitute a large share in the North American phosphate esters market. Leading market players adopted various organic and inorganic growth strategies to expand their product offerings, global presence, and increase their market revenues.
