Phosphate Ester Market Size

Phosphate Ester Market size was valued at USD 1.16 billion in 2024 and is expected to reach USD 2.86 billion by 2037, registering around 7.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of phosphate ester is evaluated at USD 1.23 billion. The extensive use of phosphate ester in multiple industries such as automotive, construction, and agriculture is expected to provide the stimulus necessary for the growth of the global phosphate ester market. Further, the increasing incidences of fire outbreaks are bound to raise the demand for fire extinguishers across the world. This, in turn, is also estimated to boost the market growth. According to the United States Fire Administration, there were almost 1.3 million incidents of fires in the US in 2019, and more than 24% rise in deaths as a result of fire, compared to the year 2010.

Phosphate esters are also called Organophosphates (OPEs). They form the backbone of nucleic acids - DNA and RNA, that are vital for the storage and transmission of genetic material. They are highly used in the production of cleaners and detergents used in homes, institutions and industries owing to their wetting, anti-static and emulsifying properties. As per research, there was a rise in the amount spent by Europeans on household cleaning products such as surface care, dishwashing and bleaches, from USD 30 billion in 2019 to almost USD 33 billion in 2020, on the back of the pandemic. Besides this, the boosting demand of phosphate esters as agrochemical additives is also fueling the growth of the market over the projected timeframe.