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Growing Consumption of Paints & Coatings in the Building & Construction Sector

HYDERABAD, TELANGANA, INDIA, December 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Acid Phosphates Market size is forecast to reach US$40 billion by 2026, after growing at a CAGR of 4% during 2021-2026 due to increasing demand as lubricant additives for drilling fluids and as curing agents for coatings. Acid phosphatase/ phosphomonoesterase is a ubiquitous lysosomal enzyme that catalyzes the hydrolysis of phosphate esters in an acidic environment and exists in several biological domains such as plants, animals, fungi, and even bacteria. Various acid phosphates such as octyl acid, amyl acid, butyl acid, methyl acid, phenyl acid, and others are also used in textile manufacturing and paint & coatings, as additives for lubricants, and other applications. Thus, increasing uses of acid phosphates are estimated to grow the market size during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Acid Phosphates Market highlights the following areas -

1. North America dominates the acid phosphates (a lysosomal enzyme) market owing to increasing oil & gas production in emerging countries such as United States, Mexico, and Canada.

2. Growing consumption of amyl acid phosphates is increasing market size as amyl acid phosphate is highly soluble in water and used in textile manufacturing.

3. Increasing adoption of acid phosphates in the paint & coating industry due to their wear-resistant properties is likely to aid the market growth during the projected year.

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Segmental Analysis:

1. Octyl acid phosphate dominated the global acid phosphates (also known as phosphomonoesterase) market in 2020 due to increasing consumption for textile manufacturing, metalworking oils, industrial lubrication, and others application.

2. North America held the largest share in the global acid phosphates market in 2020 with 32% due to growing oil & gas exploration and production activities in the region. These activities are boosting the demand for lubricant additives in the United States which, in turn, is fueling the acid phosphates/ phosphomonoesterase market size.

3. Due to polymerization properties, acid phosphates (known as phosphomonoesterase) are used as curing agents in paints & coatings applications, which is estimated to grow market size during the projected period. According to the Central Bureau of Statistics in Israel, a total of 49,810 new apartments were built from October 2019 to September 2020.

Competitive Landscape:

The top 5 players in the Acid Phosphates Industry are -

1. Henkel AG & Company KGAA,
2. Arkema Group,
3. The Dow Chemical Company,
4. H.B. Fuller,
5. Avery Dennison Corporation,

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Related Reports:

A. Phosphorus & Derivatives Market
https://www.industryarc.com/Report/11736/phosphorus-derivatives-market.html

B. Organic Acids Market
https://www.industryarc.com/Report/16128/organic-acids-market.html

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