Rockville, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals in its recently published research report that the global phosphonates market is projected to reach a valuation of U$ 2.1 billion by the end of 2033, expanding at a noteworthy CAGR of 6.6% from 2023 to 2033.
Phosphonate is a nonvolatile organophosphorus compound. In organic solvents, it is poorly soluble. However, it is soluble in common alcohols and water. Phosphonates are used at a significant rate across various end-use industries, including water treatment, pulp & paper, agriculture, oil & gas, and textiles. This factor can act as one of the leading drivers to bolster the demand for phosphonates.
Further, the rising population of millennials, the adoption of western culture by citizens of developing and developed economies, and increasing fashion consciousness are also propelling growth in the textile industry. Phosphonate has a significant role across the textile sector where it is helpful in the finishing, cleaning, and dyeing process.
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Rapid urbanization along with increasing population has resulted in the shortage of potable water, not only in developing regions but also in developed economies. These economies use phosphonates as deflocculants, sludge conditioners, dispersants, chelants, antiscalants, and corrosion inhibitors. In addition, they also find application as crystal growth modifiers in the water treatment sector.
For instance,
- The World Wildlife Fund published a report in March 2021. It mentions that around 1.1 billion people do not have access to fresh water and around 2.7 billion people experience scarcity of the same every year.
Derivatives of phosphonates--for instance, trisodium phosphate crystalline and trisodium phosphate--are used as a noticeable source of alkalinity to brighten the synthetic yarn and in the fiber-reactive dyeing process. Various derivatives of phosphonates, including bisphosphonates, have been prescribed for patients with osteoporosis. However, if bisphosphonate is consumed for prolonged periods as medicine, it may cause numerous health-related issues. Such as, prolonged use of phosphonates can cause reduced bone density, muscle pain, joint pain, and improper kidney function. The toxic nature of phosphonate can adversely impact opportunities for market players. Furthermore, the easy availability of different substitutes is also anticipated to limit the adoption of phosphonates.
Key Takeaways from Market Study
- The global market phosphonates stands at US$ 1.1 billion in 2023.
- The global phosphonates market is anticipated to reach a valuation of US$ 2.1 billion by 2033-end.
- The Canadian market is predicted to advance at a noticeable CAGR of 6.2% from 2023 to 2033.
- Worldwide sales of phosphonates are projected to increase at a CAGR of 6.6% through 2033.
- Demand for phosphonates in Germany is predicted to evolve at a CAGR of 4.6%.
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Winning Strategy
Prominent manufacturers of phosphonates are adopting different strategies, such as mergers & acquisitions to generate lucrative opportunities.
For instance,
- Bisterfeld AG in October 2021 announced its acquisition of GME Chemicals for the expansion of its footprints in Asia Pacific.
Key producers of phosphonates are: Aquapharm Chemicals, Changzhou Yuanquan Hongguang Chemical, Italmatch Chemicals, Qingshuiyuan Technology, Shandong Xintai Water Treatment Technology, Yichang Kaixiang Chemical, Zeel Product, and Zaozhuang Kerui Chemicals.
Segmentation of Phosphonates Industry Research
- By Type:
- ATMP
- HEDP
- DTPMP
- BHMT
- Others
- By Application:
- Water Cleaners
- Scale Inhibitors
- Bleach Stabilizers
- Chelating Agents
- Concrete Additives
- Others
- By End Use:
- Water Treatment
- Pharmaceuticals
- Textiles
- Oil & Gas
- Pulp and Paper
- Agriculture
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global phosphonates market for the period of 2023 to 2033. The study divulges essential insights into the market on the basis of type (ATMP, HEDP, DTPMP, BHMT, others), application (water cleaners, scale inhibitors, bleach stabilizers, chelating agents, concrete additives, others), and end use (water treatment, pharmaceuticals, textiles, oil & gas, pulp & paper, agriculture, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
Phospholipids Market: The global Phospholipids Market was valued at around US$ 3.7 Billion in 2021. With a projected CAGR of 7.3% for the next ten years, the market is likely to reach a valuation of approximately US$ 7.8 Billion by the end of 2032.
Phosphorus Based Catalyst Market: Phosphorus based catalysts are basically a mix of nonmetallic chemical elements of the nitrogen family. They are generally semitransparent, colorless, soft, waxy solids that glow in the dark. Phosphorus based catalysts were discovered back in 1669 by a German merchant named Hennis Brand.
Phosphorus Trichloride Market: The global phosphorus trichloride market was valued at US$ 1.63 billion In 2021, registering Y-o-Y growth of 3% over the past 5 years. Worldwide consumption of phosphorus trichloride is predicted to reach a market value of US$ 2.48 billion by 2032, increasing a CAGR of 4% from 2022 to 2032.
Hypophosphorous Acid Market: Hypophosphorous Acid is stable compound under normal condition, however, after heating it decomposes into phosphoric acid, hydrogen, and phosphine compounds. Generally, Hypophosphorous Acid are used as bleaching agent in synthetic fibers, plastics, and chemicals applications.
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