The report "Butylated Triphenyl Phosphate Market by Application (Lubricants, Hydraulic Fluids, Flame Retardants), and Region - Global Forecast to 2026", The global butylated triphenyl phosphate market is projected to reach USD 30.7 Million by 2026, at a CAGR of 4.8% from 2016 to 2026.
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This growth is mainly attributed to the increasing demand for butylated triphenyl phosphate from the automotive industry worldwide. The increasing number of vehicles around the world has led to an increase in the demand for lubricants, which is in turn is driving the global butylated triphenyl phosphate market.
Lubricants application segment to lead the butylated triphenyl phosphate market by 2026
Lubricants was the largest application segment of the global butylated triphenyl phosphate market in 2015. The large share is attributed to the growing use of butylated triphenyl phosphate in the automotive industry as a flame retardant additive in lubricants and hydraulic fluids. Butylated triphenyl phosphates are used as lubricant and hydraulic fluids in light automobiles as well as heavy transportation vehicles. The automotive industry is growing globally, and according to the Organisation Internationale des Constructeurs d’Automobiles (OICA) correspondents’ survey, 90.78 billion vehicles were produced in 2015. Apart from lubricants, another major application for butylated triphenyl phosphate is in flame retardants. Butylated triphenyl phosphate’s superior flame retardant capabilities has led to an increase in its demand from the plastics industry.
Asia-Pacific to lead the global butylated triphenyl phosphate market during the forecast period
The Asia-Pacific region accounted for the largest share of the global butylated triphenyl phosphate market in 2015, followed by North America and Europe. China is one of the major consumers of butylated triphenyl phosphate in the Asia-Pacific region. The increasing number of vehicles in the Asia-Pacific region, and the rising demand for butylated triphenyl phosphate from the construction sector, are factors driving the Asia-Pacific butylated triphenyl phosphate market.
Major market players covered in this report include Chemtura Corporation (U.S.), Israel Chemicals Ltd. (Israel), Lanxess AG (Germany), PCC Rokita S.A. (Poland), ROCOL (Division of ITW Inc.) (U.K.), Mattei Compressors Ltd (U.K.) and Chemwill Asia co., Ltd (China).
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