Phosphate esters are esters of phosphoric acid which is a major chemical used in production of insecticides, and herbicides. However, government in several countries have developed stringent policies to protect the environment as it is found that phosphate esters are highly toxic to bees, wildlife and even humans. In addition, phosphate esters are also widely used in solvents, lubricants, and paints. They are also part of the production of plasticizers such as polyurethane foams, wherein the esters provide good gelling behavior, low-temperature performance, and efficient insulation. Increase in awareness regarding the benefits of using phosphate esters is creating a scope for growth of the market. This report studies the current and future aspects of the phosphate ester market.