Phosphorus Trichloride Market: Need to Increase Crop Yield Driving Demand | Research By 2024

According to the findings of a recent study by Transparency Market Research (TMR), the global phosphorus trichloride market exhibits a highly fragmented competitive landscape, wherein the four leading players managed only 28.42% of the market in 2015. The four leading players in the phosphorus trichloride market identified by the TMR report are Rhodia, Monsanto Co., Xuzhou JianPing Chemical Ltd., and Syngenta. These market leaders are expected hold their share of the pie in the near future, although new entrants will also continue making their presence felt going forward.

As per the evaluations of the report, the global phosphorus trichloride was worth US$1.23 bn in 2015, and estimates it to reach a valuation of US$1.92 bn by 2024, expanding at a healthy CAGR of 5.20% during the forecast period of 2016 to 2024. The primary focus of the leading companies venturing in this market is strategic associations with end-use industries in order to sustain and increment the demand. Owing to the growing application of phosphorus trichloride in various sectors, new opportunities are opening in this market and new entrants are expected to further intensify the competition during the forecast period.

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Pure Grade Phosphorus Segment Leads by Landslide Margin

Based on grade, the report segments the global phosphorus trichloride market into pure and analytical research, and rates pure phosphorus trichloride market as a landslide leader, accounting for 94% of the demand in 2015. Researchers of this report predict the pattern to continue throughout the forecast period, gaining traction from widespread application of pure grade phosphorus for the production of plasticizers, agrochemicals, and phosphorus oxychloride.

Application-wise, the report categorizes the global phosphorus trichloride market into phosphorus oxychloride, pharmaceuticals, agrochemicals, chemical intermediates, surfactants, and plasticizers. Currently, agrochemicals segment yields the maximum demand, commonly used for the production of herbicides, pesticides, and insecticides.

Geographically, the report detects Asia Pacific as the most lucrative region in the phosphorus trichloride market. Asia Pacific served 44% of the demand for phosphorus trichloride in 2015, primarily gaining demand from China, which is a hub for end-use industries pertaining to agrochemicals and pharmaceuticals. North America phosphorus trichloride market gains most of the demand from the U.S. and Canada, while France and Germany lead the demand from the European region.

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Escalating Food Requirements Driving Demand

Phosphorus trichloride (PCI3) is an important compound for the chemical industry wherein it is used to produce fertilizers, pesticides, herbicides, additives, and insecticides. These derivatives not only help in increasing the production capacity, but also aid in crop protection. Globally, population is increasing and consequently, the food requirements are escalating. This factors is expected help the global phosphorus trichloride market to sustain a consistent demand. Decreasing arable land, increasing use of bio-fuels, and incrementing demand for water treatment are some of the other factors favoring the global phosphorus trichloride market. On the other hand, high cost of phosphorus trichloride remains the most prominent hindrance for the market to achieve its full potential. Factors such as regulations against phosphorus usage for detergents, decreasing qualify of phosphate rock, and conservation of resources are also expected to challenge the market during the forecast period.

The author of the report, who has high hopes from the phosphorus trichloride market despite the cost factor, says, “The development of halogen-free flame retardants (HFFR) and technological advancements in the production of phosphorus trichloride will continue to serve enough fodder for the players in his industry.”

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