Growing demand for plastic products will position the phosphorus trichloride market at $2.48 billion by 2032
Phosphorus trichloride demand fueled by increased use of agrochemicals
An in-depth study by Fact.MR on the Global Phosphorus Trichloride Market provides an unbiased analysis of the key driving factor facilitating sales over the assessment period 2022-2032. The study also offers detailed insights into the emerging trends and opportunities that are accelerating the demand for Phosphorus Trichloride across all segments including type and application.
NEW YORK, June 8, 2022 /PRNewswire/ — The global phosphorus trichloride market is expected to generate an absolute dollar opportunity worth US$798.6 million end of 2032.
It is estimated that the increasing use of phosphorus trichloride as an intermediate for the production of various chemicals such as phosphites and triphenylphosphine will drive sales in the market. $1.68 billion by 2022.
Manufacturers of plastic products are focusing on expanding their production capacities to meet growing demand. For example, in May 2022Micro Plastics India Ltd., a leading manufacturer of high quality plastic products, has announced its investment US$64.4 million for the establishment of a new plastic toy factory in Tamil Nadu, India.
As phosphorus trichloride is widely used as a plasticizer in the manufacture of plastic products, a multiplicity of these developments are expected to increase growth. Thanks to this, sales of phosphorus trichloride are expected to exceed US$2.48 billion by the end of 2032, increasing at a CAGR of 4% over the forecast period.
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With the growing population and increasing demand for food, governments in various countries are undertaking initiatives such as providing subsidies and rebates on the purchase of agrochemicals such as fertilizers and pesticides to increase agricultural yield. .
Since phosphorus trichloride plays a vital role in the volume production of herbicides, pesticides, glyphosate, and organophosphate insecticides, increasing sales of the aforementioned agrochemicals will boost the demand in the market.
Key points to remember:
- The United States should represent the dominant share in the North America market, showing growth at a CAGR of 3% during the forecast period.
- UK phosphorus trichloride sales are estimated to grow at a rapid CAGR, helping the Europe will account for approximately 26.2% of total revenue share in 2021.
- China is expected to become a very lucrative market for phosphorus trichloride, due to the growing plastics manufacturing business in the country.
- India should represent an important part of the South Asia & Oceania, driven by the growing focus on increasing agricultural productivity and sales of agrochemicals.
- In terms of quality, the pure grades segment is expected to show robust growth, accounting for approximately 81.3% of overall market sales.
- Increasing incidence of forest fires and fires in urban areas, along with increasing application of phosphorus trichloride in the production of flame retardants, is increasing the demand in the market.
- Rising applications of pure grade phosphorus trichloride in the production of pesticides, herbicides and flame retardants owing to the lower cost compared to analytical grade is driving the growth of the segment.
- Increasing implementation of stringent regulations regarding the use of concentrated fertilizers, insecticides, pesticides, and others is hampering the sales in the organophosphate pesticide segment.
- Side effects such as emphysema, loss of appetite, dizziness, headache, and vomiting due to phosphorus trichloride exposure are hampering its use in commercial applications, which is hampering the growth of the market.
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The major manufacturers in the global phosphorus trichloride market are focusing on strategies such as production capacity expansion, partnership, collaboration, and acquisition to gain competitive advantage in the market.
- In February 2022Mosaic Company, a global leader in the crop nutrient industry, announced the acquisition of a leader in agricultural biology and biotechnology, Plant Response, to increase production of agrochemicals.
- In January 2022Syngentea leading agricultural company announced the acquisition of two next-generation bioinsecticides, UniSpore® and NemaTrident®from Bionema, a UK-based biocontrol technology developer.
Top Companies Featured by Fact.MR
- Syngenta Crop Protection AG
- Mosaic Society
- Solvay S.A.
- Akzo Nobel SA
- Excel Industries
- Shanghai Fopol Chem-Tech Industry Co. Ltd.
- Nutrien Ltd.
- Guangzhou Zoron Chemical Technology Co.Ltd.
- LianYunGang Dongjin Chemical Co. Ltd.
- Italmatch Chemicals
More valuable information about Phosphorus trichloride Market
In its recent survey, Fact.MR highlights the crucial factors driving the growth of the Global Phosphorus Trichloride Market between 2022 and 2032. The study also offers vital insights into the drivers that are accelerating the growth of the Phosphorus Trichloride Market phosphorus through a detailed segmentation as follows:
Phosphorus Trichloride Market by Category:
- Pure category
- Analytical quality
Phosphorus Trichloride Market by End Use:
- Organophosphate pesticide
- Organophosphate chelating agent
- flame retardants
- Other end uses
Phosphorus Trichloride Market by Region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
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Key questions addressed in the Phosphorus trichloride Market report
- What is the estimated revenue of the Phosphorus Trichloride market during the forecast period?
- What are the challenges faced in the phosphorus trichloride market?
- Which region is estimated to show the fastest growth rate in the global phosphorus trichloride market during the period 2022-2032?
- What is the projected market valuation of the phosphorus trichloride market in 2022?
- What are the factors causing phosphorus trichloride in 2022-2032?
- What is the expected growth rate of the phosphorus trichloride market up to 2032?
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