Press release
Worldwide Phosphonates Industry, Forecasted to Reach $1.6 Billion by 2031
Phosphonates Market
Key Report Insights:
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Drivers, Restraints, and Opportunities:
The burgeoning global population and rapid urbanization have intensified the demand for potable water, driving the phosphonates market. The textile sector's growth, fueled by increased fashion consciousness and the adoption of western culture, has further propelled phosphonates demand. However, health concerns related to the prolonged use of bisphosphonates have presented challenges. On the flip side, the surge in disease severity and the pharmaceutical industry's expansion offer promising opportunities.
Key Market Players:
ACURO ORGANICS LIMITED
APCHEM
Aquapharm Chemical Pvt. Ltd.
Changzhou Kewei Fine Chemicals Co., Ltd. (KWCHEM)
Giovanni Bozzetto S.p.A.
Lanxess
Manhar Specialities
Shandong Taihe Water Treatment Technologies Co., Ltd.
TER HELL & CO. GMBH
ZSCHIMMER & SCHWARZ CHEMIE GMBH
These market leaders employ strategies such as partnerships, expansions, collaborations, new product launches, and mergers & acquisitions to maintain their industry foothold.
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Covid-19 Impact:
The pandemic led to temporary shutdowns in construction and infrastructure activities, resulting in reduced demand for phosphonates for concrete curing. Major end users like the textile, oil and gas, pulp & paper, and other industries suffered significant losses, creating a negative impact on the phosphonates market. Prolonged lockdowns widened the gap between supply and demand, with the chemical industry experiencing a notable decline in production and profits.
Segment Insights:
HEDP Dominance: In 2021, the HEDP segment held the largest market share, accounting for over one-fourth of the global phosphonates market. It is expected to maintain this lead, driven by its excellent scale inhibition, corrosion inhibition, and complex chelating properties in various industries.
Chelating Agents to Lead: The chelating agents segment is anticipated to register the highest CAGR of 6.59% from 2022 to 2031, attributing its growth to phosphonates' role as chemical additives for various applications.
Pharmaceutical Sector Leadership: The pharmaceutical segment dominated in 2021, holding over one-fifth of the market. It is projected to continue its dominance, given the proven pharmacological utility of phosphonates as enzyme inhibitors.
Regional Overview:
Asia-Pacific Dominance: In 2021, Asia-Pacific commanded nearly two-fifths of the global phosphonates market, with a robust CAGR of 6.15% anticipated during the forecast period. This growth is attributed to the rapid expansion of the pulp & paper manufacturing and textile sectors in developing countries like China and India.
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For More Details: https://www.prnewswire.com/news-releases/phosphonates-market-to-garner-1-6-billion-globally-by-2031-at-5-98-cagr-says-allied-market-research-301597850.html
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Polyphosphoric Acid Market : https://www.alliedmarketresearch.com/polyphosphoric-acid-market-A11477
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