Surfactants

Phosphate esters market to garner hefty returns from hydraulic fluid applications over 2018-2025, North America to emerge as lucrative investment hub

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Endowed with a wide application spectrum, the growth prospects of the global phosphate esters market have been witnessing an upsurge in the recent years. The wide range of structures and links of phosphate esters that can be developed to adapt to specific applications and functional properties have in turn resulted into wide range of commercially valuable products. With the globally flourishing agricultural and construction industries, the demand for phosphate esters as a raw material in surfactants, agrochemicals, lubricants, fire retardants, and plasticizers have significantly favored this business sphere.

U.S. phosphate esters market size, by application, 2014 – 2025 (USD Million)

U.S. phosphate esters market size, by application, 2014 – 2025 (USD Million)

Elaborating further, it is prudent to mention that the emerging move away from the low molecular weight orthophthalate PVC plasticisers is set to have a significant impact on this industry expansion. The tightening of regulations coupled with the rapid emphasize on product development activity for alternatives that offer better properties have in turn impelled several companies to go the whole hog and take advantage of this situation.

Unveiling the application landscape of the global phosphate esters industry

Speaking of the application spectrum, estimates claim that the fire-retardant segment accounted for more than 20% of the overall phosphate ester market share in 2017. The rapidly growing population and construction sector are the most pivotal factor driving this application segment. The demand for phosphate esters as multifunctional additives for metal working fluids has also favored the segment growth.

Besides the fire-retardant application, two prominently emerging application segments of the global phosphate esters industry are the hydraulic fluids and agrochemicals. Reliable reports claim that the trend of fusion prototype and miniaturization in industrial and consumer goods segment will positively impact the demand for phosphate esters in the ensuing years. Phosphate ester hydraulic fluids are widely used in steel mill equipment, flight deck elevators, and aircraft catapult systems and including control fluid for steam turbines and hydraulic doors on blast furnaces. Consistent demand for these applications have significantly uplifted the growth of the hydraulic fluid segment, which according to reports will surpass a remuneration portfolio of USD 500 million by 2025.

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The agrochemical application segment is further likely to gain traction, given the rising demand for nitrogen and phosphate based fertilizers. In the recent years, aromatic phosphate esters are witnessing remarkable demand as adjuvants in compositions for agrochemical use in combination with at least one surfactant and agrochemical. Another prominent factor that has strongly propel the agrochemical application segment is the increasing consolidation of the agrochemical industry players.

Recently for instance, Eastman Chemical Company signed a deal with a global specialty chemicals leader Clariant to develop and distribute Eastman Chemical’s Tamisolve NxG solvent – a low toxic and highly effective solvent used in the agrochemical industry. both the companies are expected to leverage their expertise and utilize their individual strengthen in developing more sustainable, efficient, and innovative agrochemicals for farmers worldwide. If industry analysts are to be believed, such deals in extension, will deliver significant business benefits to the global phosphate esters industry players.

BASF SE, Lanxess AG, Israel Chemical Ltd, Solvay S.A., Lakeland Laboratories Ltd., Ashland Inc., Daihachi chemical company, Akzo Nobel N.V., and Elementis PLC are some of the other prominent companies operating the global phosphate ester market.

North America to merge as a major revenue pocket

In terms of volume, with U.S. at its foray, North America phosphate ester market is anticipated to register a CAGR of 7.5% over 2017-2025. The massive investment in research and development in industrial equipment and manufacturing components, particularly in the U.S., is poised to accelerate the regional industry expansion in the ensuing years. The overall use of non-halogenated phosphorus esters in myriad industrial applications is also expected to favor the product demand. Estimates claim that this surge in demand has mainly triggered the regional business for triaryl phosphate ester, which is alone forecast to exceed USD 350 million by 2025. The data also significantly goes on to validate that North America phosphate ester market is all set to experience a growing investment interest from potential stakeholders in the coming years.

All in all, thriving of the cusp of expanding application and regional landscape, the global phosphate esters industry is expected to continue on a lucrative roadmap in the years ahead. A presumption bearing testimony to the same id of Global Market Insights, Inc., that claims the overall phosphate esters market to exceed a valuation of USD 3 billion by 2025.

Author NameOjaswita Kutepatil

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Global epoxidized soybean oil (ESBO) market valuation to exceed USD 650 million by 2024, Europe to emerge as a pivotal revenue pocket

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The global epoxidized soybean oil (ESBO) market, in the years to come, is estimated to register significant growth prospects, attributed to the product’s vast end user landscape. Epoxidized soybean oil is commonly used as a plasticizer and heat stabilizer in several food contact materials, particularly in vinyl chloride or PVC films and gaskets. Currently, the product’s immense popularity can be primarily credited to the enforcement of stringent regulations against the use of phthalate stabilizers.

U.S. Epoxidized Soybean Oil Market Size, By End-Use, 2017 & 2024, (Kilo Tons)
U.S. Epoxidized Soybean Oil Market Size, By End-Use, 2017 & 2024, (Kilo Tons)

Speaking of which, phthalates are a group of synthetic chemicals that are extensively used in several consumer products that include medical devices, building materials, packaging and children’s toys and childcare products made from polyvinyl chloride (PVC). Lately, the chemical has been identified as a developmental and reproductive toxicant. Moreover, the US EPA classified DEHP and BBP as possible human carcinogens respectively. Epoxidized soya bean oil serves as the perfect alternative against phthalates in order to build plasticizers and heat stabilizers, thereby propelling ESBO market size.

The rapid emergence of biocompatible lubricants due to stringent regulations applicable to mineral-oil-based lubricants and their non-biodegradable toxic wastes may also impact the epoxidized soybean market positively. Before hitting the market, vegetable lubricants made from vegetable oil are required to overcome some poor performance characteristics like thermal and oxidative instabilities. This helps demonstrate the improved performance of epoxidized soybean oil in certain high-temperature lubricant applications.

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The problems associated with vegetable oils like poor oxidization and low-temperature properties can be enhanced by attributing functional groups at the sites of unsaturation occurred due to chemical modifications. In several countries, about 40 percent of a lubricant can be lost to the environment and with rising petrol prices, development of new industrial products from soybean seem economically feasible. Although soybean oil shows superior lubricity, vegetable-oil-based lubricants possess a weaker oxidative stability and flow under low temperatures but by attaching some functional groups at the site of unsaturation these problems can be resolved. The fact that vegetable-oil properties can be improved for lubrication through functionalization methods will drive the epoxidized soybean oil market in the years to come, as they are deployed as industrial lubricants.

The epoxidized soybean oil market may witness significant growth in Europe, driven by highly developed countries such as France and Germany, that boast of an expanding regional food and beverage industry. Incidentally, in 2017 the Committee for Social-Economic Analysis backed a proposal by the European Chemicals Agency and Denmark to limit the use of four phthalates namely BBP, DEHP, DBP and DIBP in articles comprising plasticized materials. In 2018, The European Environmental Bureau and CHEM Trust sent a letter to EU Member State representatives on the REACH Committee bringing to attention that the restriction excludes the use of phthalates in food contact materials even though maximum exposure to DEHP comes from food.

The restriction of phthalates from FCMs is likely to encourage the use of epoxidized soybean oils for creating gaskets of glass jars and on food and beverage can coatings, that would eventually augment the epoxidized soybean oil market.

The transesterification of epoxidized soybean oil often helps in preparing epoxidized methyl esters Transesterification is achieved within 10 minutes at 50 degree Celsius without losing epoxide function. Epoxidized methyl esters characterize a renewable substrate that is readily turned into fuels, surfactants, additives and other industrial products. Therefore, the transesterification process can increase the availability of epoxidized methyl esters and endorse the development of new bio-based products, impelling the growth of epoxidized soybean oil industry.

The epoxidized soybean oil market is indeed slated to record commendable gains attributed to the product usage as a raw material for various applications including polyol replacements, functional fluids, fuel additives, and agricultural and pharmaceutical molecules. Owing to its high molecular weight, the product can resist volatilization, extraction, and migration and act as a polymeric plasticizer. Driven by its widespread demand credited to its highly beneficial characteristics, the global epoxidized soybean market is anticipated to exceed $650 million by the year 2024.

Author NameKrithika Krishnan

Ethyleneamines market to gain momentum with escalating demand from the pharmaceutical and agrochemical sectors, global industry to be defined by increasing investments by prominent contenders

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With expanding global demand for various pharmaceutical, agrochemical, personal care, additives and chelating agents, the ethyleneamines market is expected to witness exponential growth opportunities over 2018-2024. This can be essentilayy credited to the fact that ethyleneamines have emerged as some of the basic ingredients required for the manufacturing of such products. That chemical industry giants like AkzoNobel Specialty Chemicals are heavily investing in the ethyleneamines market speaks volumes for the future growth prospects for the industry.

U.S. Ethylenediamines Market Size, By Application, 2017 & 2024, (Kilo Tons)
U.S. Ethylenediamines Market Size, By Application, 2017 & 2024, (Kilo Tons)

In 2017 AkzoNobel developed a technological breakthrough in the production of ethyleneamines and derivatives, a technology that has been hailed as a game changer in the ethyleneamines market. The process made it possible to reduce raw material consumption which in turn has contributed towards lowering production costs and improving environmental performance when compared to the current process of ethyleneamines production.

Considering the fact that ethyleneamines are potent intermediate chemicals involved in the production of epoxy curing agents that are in high demand in the expanding wind turbine fabrication industry and they also act as additives for oil, road materials, and paper, it is easily explicable why leaders in the chemical industry are interested in increasing their investments in the ethyleneamines market. Key chemical industry players such as Dow Chemical Company, BASF, Huntsman Corporation, Delamine etc. have all made substantial investments in the ethyleneamines industry noting the immense potential held by the business.

After the development of the revolutionary procedure for the production of ethyleneamines, recently AkzoNobel started the construction of a prototype plant in Sweden that is meant to demonstrate the more sustainable production procedure of ethyleneamines from ethylene oxide. The facility is being viewed as a further step towards the commercialization of the innovative technology and with the construction underway, AkzoNobel has started to explore options for a world-scale manufacturing facility.

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The ethyleneamines industry is expected to register increasing demand with the rapid expansion of the pharmaceutical industry as ethyleneamines find immense application as a raw material for the production of antidepressants, antimalarials, antibiotics, antihistamines, local anesthetics and muscle relaxants. The global population is estimated to increase by 1.24% each year until 2030, and 28% of the global population will be aged between 65 to 80 which is a significant rise when compared to approximately 22% in 2000. The aging population will necessarily add to the demand of common medications such as painkillers and prescription drugs like antibiotics, in turn adding momentum to the ethyleneamines market.

Besides the pharmaceuticals industry, extensive application of ethyleneamines in the agrochemical industry has added significant impetus to the ethyleneamines market. The expanding population will once again promote the scope for the use of agricultural chemicals which will in turn fuel the ethyleneamines industry as it acts as one of the notable ingredients in pesticides. Indeed, ethylenediamines market size from pesticides is anticipated to surpass $290 million by 2024. Ethylenediamines, a sub-product of ethyleneamines, are used in the production of fungicides for the prevention of mildew, scabs, rust and blight in agricultural products. As the population increases, it becomes imperative to improve agricultural production that would help ethyleneamines market to forge new growth avenues.

Chelating agents also make for a considerable portion of the ethyleneamines market revenue. The size of the diethylenetriamine market is poised to surpass 10 kilo tons by 2024 solely due to the increasing demand of chelating agents. The expanding size of the paper & pulp industry is expected to act as a driving factor for the chelating agents market. Paper-based packaging materials demand observed in the packaging sector will register growth due to the developments in e-commerce and the increasing demand for door step delivery system of perishable goods, home appliances and other products.

The increasing global awareness for the usage of recycled paper products will also have a positive influence on the chelating agents market in the ensuing years. Estimates show that global paper and pulp industry registered more than $500 billion in 2015, a growth rate that is expected to be maintained in the forthcoming years adding impetus to the growth of the chelating agents sector, and inconsequence, impacting the expansion of ethyleneamines market.

The application scope of ethyleneamines is immensely humongous, and the product being used as a building block in several industries will eventually contribute towards the growth of the ethyleneamines market. For the record, ethyleneamines industry size is anticipated to surpass $3 billion by 2024.

Author NameParoma Bhattacharya

Asia Pacific to be a major growth prospect for specialty chemicals market: India and China to lead the regional growth

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Chemical industry has become a crucial name in the global business space, being regarded as the key enabler for other sectors. Chemicals have occupied their significant share in probably all the other industries of the world, right from the electronics to the paint, automotive, food & beverages, etc. With this gigantic presence, specialty chemicals market is all set to expand vigorously both in terms of revenue and applications over the coming years. According to Global Market Insights, Inc. specialty chemicals market having had a share of USD 830 billion in 2015, is estimated to reach USD 1273 billion by 2024.”

U.S Specialty Chemicals Market size, by production, 2013-2024 (USD Billion)

U.S Specialty Chemicals Market size, by production, 2013-2024 (USD Billion)

 

The global population, which is estimated to grow rapidly touching a 9 billion mark by 2040 is a major factor driving the specialty chemical industry. Possibly, all the industries of the world are witnessing a supply/demand imbalance due to this population growth, the food industry being in the topmost concerned space. The food security concerns can be realized looking at the population vs arable land growth rate during 2015. Where on one hand, the population witnessed a 5% increase, on the other side the arable land witnessed a growth of 3.5%, which clearly indicates the agricultural food scarcity the world may witness. This imbalance is making the farmers adopt Agrochemicals on a large scale, thus boosting specialty chemicals industry size.

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Automotive industry is one of the top potential growth prospect for specialty chemicals market. Automotive industry utilizes a broad range of specialty chemical products in the form of paints & coatings, polymers & plastic additives, adhesives & sealants, lubricants, etc., thus contributing towards a significant share of specialty chemicals industry. The expanding automotive industry coupled with the growing demand for fuel-efficient vehicles will bring a huge set of opportunities for the market space.

The chemical industry has rightly been marked as a key parameter to achieve sustainable development for other industries. Chemicals are the key differentiators of any two products under comparisons, and are thus being widely and of course wisely adopted by the manufacturers worldwide. Paints & Coatings industry is a well-suited example of explaining this feature, where 80% of the raw materials in almost all the paints are same, and the rest 20% which are the differentiating factors comprises the specialty chemicals. Construction specialty chemicals market, which had a revenue of USD 70 billion in 2015, is estimated to have a noticeable surge over the coming years owing to the rising number of commercial and residential projects worldwide.

However, the high costs associated with the raw materials to manufacture these products will be a prime matter of concern for the manufacturers worldwide. SMBs will be the major sector impacted by these high priced raw materials. Asia Pacific has significantly emerged as an efficient and cost-friendly raw material supply source for the international companies, enabling these manufacturers to tap this emerging market. Moreover, the growing automotive and construction industry is also a vital factor favoring APAC specialty chemicals market size. Asia Pacific specialty chemicals market is expected to grow at a CAGR of 6.5% over the period of 2016-2024. North America is estimated to account for the second largest market followed by Europe.

In the coming years, the companies worldwide will spend heavily on R&D activities to walk parallelly with the growing consumer needs and demands. The industry, which is highly competitive and fragmented presently, will witness various collaborations and partnerships for efficient manufacturing of these products. Key market players are Dow Chemical, INEOS Group, BASF, Bayer, Ashland Inc., DuPont, Clariant, Huntsman, Syngenta, Evonik Industries, Arkema, Albemarle, Akzo Nobel, Eastman Chemical Company, Chemtura, and Solvay.

Author NameShikha Sinha