(MENAFN- America News Hour) North America Acid Phosphates Market: Overview
In terms of value, the acid phosphates market in North America is expected to reach ~ US$ 256 Mn by 20 31. Acid phosphates are organic compounds that when mixed with carefully selected additives form a group of synthetic fluids, which can be used as flame retardants. N-Butyl acid phosphate has several industrial uses. It can be used as an esterification catalyst and catalyst in coatings, textile lubricants, polymerizing agents, and corrosion inhibitors. Amyl acid phosphate can be used as an antistatic agent in textile production and as an acid catalyst in coatings. Oil and gas exploration and drilling activities in North America are growing at a rapid pace. According to BP Statistical Review, the region was the second-largest producer of oil and the largest producer of gas in the world in 2018
North America Acid Phosphates Market: Key Drivers and Restraints
According to the World Oil, in the U.S., around
27,000
wells were drilled in
2018,
while around
24,000
wells were drilled in
2017 . However, the number of wells drilled in Canada declined slightly in
2018
over that in
2017.
In Canada, around
7,200
wells were drilled in
2017,
while around
7,000
wells were drilled in
2018. Thus, rise in oil and gas exploration and drilling activities in North America is anticipated to drive the demand for drilling mud in the near future. This, in turn, is expected to boost the acid phosphates market in the region during the forecast period. All engine oils and lubricants need to deliver high performance throughout the operating life of an engine or machine. Hence, manufacturers of engine oils and lubricants use lubricating additives to attain anti-wear and anti-corrosive properties. Thus, increasing demand for lubricants is projected to drive the North America acid phosphates market during the forecast period
North America Acid Phosphates Market: Key Product Segments
Based on product, the
acid phosphates market
in North America has been segregated into N-octyl acid phosphate, 2-ethylhexyl acid phosphate/2-ethylhexyl dihydrogen phosphate, butyl acid phosphate, amyl acid phosphate, and ethyl acid phosphate In terms of volume, the butyl acid phosphate segment held a major share of the North America acid phosphates market in
2018 . Butyl acid phosphate is an odorless solvent and, generally, it is used as a component of aircraft hydraulics and brake fluids. Since it is an odorless solvent, it can be used as an anti-foaming agent in detergents, paints, and adhesives. Commercial uses of butyl acid phosphate include adhesives and sealants, inks, toners, and colorant products. N-octyl acid phosphate is a colorless, transparent, and oily liquid, which is widely used as a processing solvent. It possesses low volatility and a good extraction distribution coefficient. It can function as a catalyst and an additive also. It is employed as a curing agent in paints and coatings.
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North America Acid Phosphates Market: Key Applications
Based on application, the acid phosphates market in North America has been divided into paints & coatings, drilling muds, lubricant additives, textile, and others Demand for amyl acid phosphate and N-octyl acid phosphate for use in lubricants in North America is expected to rise in the near future, owing to corrosion and wear resistance properties of these phosphates. Wear is the most common cause of material replacement. In order to deal with this issue, acid phosphates are added, as they can act as corrosion inhibitors. Rise in the demand for fire safety in commercial products is expected to fuel the demand for acid phosphates for use in drilling and lubricating additives in the near future In aviation hydraulic systems, acid phosphates are employed in lubricants used in aircraft in order to maintain the system temperature constant
U.S. to be a Highly Lucrative Region of North America Acid Phosphates Market
Recovering prices, high demand from the aerospace industry, and advancements in activities for oil and gas exploration and production are boosting the demand for lubricant additives in the U.S. This, in turn, is fueling the acid phosphates market in the U.S., as butyl and ethyl acid phosphates are largely used in lubricant additives. Acid phosphates present a major class of commercial additives used as flame retardants, hydraulic fluids, plasticizers, solvents, extraction agents, adhesives, antifoaming agents, and coatings. Growth of various end-use industries in Canada is expected to drive the demand acid phosphates for use in several applications in the country in the near future.
North America Acid Phosphates Market: Competition Landscape
Major manufacturers of acid phosphates include
Solvay Kao Corporation Lanxess, and Lubrizol Corporation Alfa Aesar,
IsleChem, LLC.
These companies have considerable presence across the globe. Major players focus on developing commercially viable processes for the manufacture of products, which comply with the regulations
North America Acid Phosphates Market – Scope of the Report
A new study on the acid phosphates market in North America presents a wealth of information on key market dynamics, including drivers, market trends, and challenges as well as structure of the acid phosphates market in the region. The study offers valuable information on the acid phosphates market in North America to illustrate how growth would discern during the forecast period i.e. 2022-2031.
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Key indicators of market growth, which include value chain analysis as well as supply chain analysis and compounded annual growth rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret quantitative growth prospects for the acid phosphates market in North America during the forecast period.
Extensive analysis of leading market players' business strategies is also featured in the study on the acid phosphates market in North America. This can help readers understand principal factors driving the acid phosphates market in North America. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the acid phosphates market in North America, which would guide market players in making apt decisions in the near future.
Key Questions Answered in the Study on North America Acid Phosphates Market
What would be the Y-o-Y growth rate of the acid phosphates market in North America between 2022-2031? What is the influence of changing trends in products on the acid phosphates market in North America? Would the U.S. continue to be the most profitable market for manufacturers of acid phosphates in North America in the near future? Which factors are projected to hinder the acid phosphates market in North America during the forecast period? Which are the leading companies operating in the acid phosphates market in North America.
Research Methodology
A unique research methodology is utilized to conduct comprehensive research on the acid phosphates market in North America and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary resources referred to by analysts during the production of the report on the acid phosphates market in North America include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of the study on the acid phosphates market in North America as a primary resource.
These primary and secondary resources provided exclusive information during interviews, which served as a validation from leading players operating in the acid phosphates market in North America. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the acid phosphates market in North America with accuracy. The study also uses a top-down approach to assess numbers for each segment and bottom-up approach to counter-validate them. This has helped in making the estimates on future prospects for the acid phosphates market in North America more reliable and accurate.
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