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Phosphonates Market is anticipated to grow up to US$ 1.6 billion, at a CAGR of 5.9% during the forecast period 2022-2031

09-01-2022 11:27 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Global Insight Services

Phosphonates Market

Phosphonates Market

The global phosphonates market was valued at US$ 0.9 billion in 2021 and it is anticipated to grow up to US$ 1.6 billion by 2031, at a CAGR of 5.9% during the forecast period.

Phosphonate is a nonvolatile organophosphorus compound that is poorly soluble in organic solvents but soluble in water and common alcohols. They are effective chelating agents for di- and trivalent metal ions. Additionally, they inhibit crystal growth and scale formation and are stable under harsh chemical conditions. They find End User in various end-use sectors, including textiles, oil & gas, pulp & paper, agriculture, and water treatment. Phosphonate is used to cool water and desalination systems and in oil fields to inhibit scale formation. They inhibit crystal growth and scale formation and are very stable under harsh chemical conditions. Phosphonates are also used as peroxide bleach stabilizers.

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Market Drivers and Trends:

Increased population coupled with rapid urbanization has led to a shortage of potable water in both developed and developing economies, where phosphonates are widely used as corrosion inhibitors, antiscalants, chelants, sludge conditioners, deflocculants, dispersants, and crystal growth modifiers in the water treatment sector. This may act as one of the key drivers responsible for the growth of the phosphonates market.

Additionally, factors such as the rise in the population of millennials, increase in fashion consciousness, and adoption of western culture among citizens of both developed and developing economies such as the U.S., China, and India have propelled the growth of the textile sector. Phosphonate plays a vital role in the textile industry, where it helps in the cleaning, finishing, and dyeing process. Furthermore, derivatives of phosphonates such as trisodium phosphate and trisodium phosphate crystalline (TSPC) are used as a source of alkalinity in the fiber-reactive dyeing process and brighten the synthetic yarn. Thus, due to above mentioned factors boosts the phosphonates market growth.

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COVID-19 Impact:

In 2020, the temporary shutdown of construction and infrastructure activities amid the COVID-19 pandemic period reduced the consumption of phosphonates for curing concrete from the ground. The COVID-19 outbreak has affected the demand for phosphonate in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in a slowdown and even halt in manufacturing operations, thus hampering the demand for phosphonate.

Major Players in the Global Phosphonates Market:

The key players studied in the global phosphonates market are Acuro Organics Limited (India), APChem (US), Aquapharm Chemical Pvt. Ltd (India), Biesterfeld AG (Germany), Changzhou Kewei Fine Chemicals Co., Ltd. (KWCHEM) (China), Exago (India), Giovanni Bozzetto S.p.A. (Italy), LANXESS AG (Germany), Maxwell Additives Pvt. Ltd. (India), and Shandong Taihe Water Treatment Technologies Co., Ltd. (China).

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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