Global Triethyl Phosphate Market is Expected to Grow a CAGR of 2.9% During the Forecast Period

The latest market report published by Credence Research “Global Triethyl Phosphate Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global Triethyl Phosphate market obtained market size around USD 94.5 Million in year 2020 and expected to grow at a CAGR of over 2.9% over the upcoming years from 2021 to 2027 to reach around USD 102.2 Million in 2027.

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Global Triethyl Phosphate Market, 2020 – 2027 (USD Million)

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The liquid triethyl phosphate is colourless and corrosive. It is known as “phosphoric acid, triethyl ester” because it is the triester of ethanol and phosphoric acid. Triethyl phosphate is primarily used by customers as an industrial catalyst (for example, in the production of ketene) and as a flame retardant. In small quantities, triethyl phosphate is often used as a solvent or industrial intermediate in the manufacture of pesticides and other chemicals.

Key Trends in Global Triethyl Phosphate Market

Impact of COVID 19 on Triethyl Phosphate Market

The current Covid-19 pandemic has had a significant impact on the global economy, with supply chain instability and decreased demand and supply as a result. The same can be said for the chemical industry, which includes triethyl phosphate, where lower production of plastics and agrochemicals in the first quarters of 2020 has slowed triethyl phosphate development to a halt. However, with regional governments taking steps to boost economic growth and improve the output of the industrial sector, triethyl phosphate is expected to expand in the next 3-4 quarters, following the growth of the industrial chemicals industry.

Global Triethyl Phosphate Market by Application Insights

Flame Retardant, Chemical Catalyst, Pesticide Intermediates, Organic Solvent, and Others are some of the major applications of Triethyl Phosphate. Organic Solvent segment accounted for the largest share in 2020 of the Triethyl Phosphate market in 2020.

Organic Solvent Segment to Dominate the global Triethyl Phosphate market

Global Triethyl Phosphate Market by Application, 2020

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Global Triethyl Phosphate Market by Product Insights

Industrial Grade and Superior Grade are the various products of Triethyl Phosphate. In 2020, Industrial Grade accounted for the largest share of Triethyl Phosphate market.

Global Triethyl Phosphate Market Share by Product, 2020

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Global Triethyl Phosphate Market by Regional Insights

According to the regional market situation, South East Asia is a leading region with proven production hubs and a significant share of the end use market. China is thought to be the epicentre, accounting for roughly 70% of the overall industry, led by ASEAN countries and India. North America is another important area for Triethyl Phosphate, with a significant number of tier-1 producers.

Global Triethyl Phosphate Market Competitive Landscape

Most prominent players in the global Triethyl Phosphate market include Eastman Chemical Company, Alfa Aesar, Jilin Yongli Chemical Co., Ltd., Donghu Chemical, Lanxess AG, Merck KGaA, Ningguo Long Day Chemical Co., Ltd., Hongzheng Chemical, Jiangsu Victory Chemical Co., Ltd. and others. The report has detailed profiles of prominent players of market.

Global Triethyl Phosphate Market, Company Distribution Network, 2020

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Market Segmentation

Global Triethyl Phosphate Market by Application, 2015 – 2027

· Chemical Catalyst

· Flame Retardant

· Organic Solvent

· Pesticide Intermediates

· Others

Global Triethyl Phosphate Market by Product, 2015 – 2027

· Industrial Grade

· Superior Grade

Global Triethyl Phosphate Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Triethyl Phosphate Market: Key Players

· Eastman

· Lanxess

· Ningguo Long Day Chemical

· Jilin Yonglin

· Hongzheng Chemical

.  Donghu Chemical