Escaping a value for MySQL simply adds a backslash in front of of the following characters: NULL
\n
\r
\
'
"
and 0x1A
. It does nothing else.
An "escaped" value isn't magically safe for use in SQL. Escaping prevents special characters (such as quotes) from being misinterpreted. But if you insert an escaped value into an SQL query without surrounding it in quotes, then you've completely missed the point, and you are no more safe than you would have otherwise been.
Remember, the security procedure is quote and escape. You should always use those two together, since neither is safe without the other.
Also, if you can absolutely guarantee that your input value contains none of the above characters, then you also can be certain that your escaped string will always be identical to the unescaped one, and therefore escaping serves no additional purpose under those conditions.
But More Importantly:
Finally we have, in retrospect, realized that SQL was poorly designed from a security perspective, and relying on users properly quote and escape their data is just a really bad idea.
Parameterized queries are the solution, since it safely separates the data from the control structure. Parameterized queries are possible with mysqli by using prepare() followed by bind_param(). No escaping is necessary when using this method, and you can be confident that you are absolutely immune from SQL injection attacks.