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Phosphorus Trichloride Market is anticipated to rise US$1.92 bn by 2024
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In 2015, these enterprises, together, could hold only 28.42% of this market. Currently, they are focusing aggressively on strategic collaborations and agreements with the end-use industries to strengthen their position, which is anticipated to intensify the competition within this market in the near future, states the report.
As per TMR’s estimations, the worldwide phosphorus trichloride market presented an opportunity worth US$1.23 bn in 2015. Burgeoning at a CAGR of 5.20% during the period of 2016-2024, it is anticipated to increase to US$1.92 bn by the end of the period of the forecast. Hitherto, the demand for phosphorus trichloride had been greater in agrochemicals than other application areas. Analysts expect this scenario to remain unchanged in the near future due to the increasing usage of phosphorus trichloride in the manufacturing of pesticides, herbicides, and insecticides.
Expansion of End-use Industries to Ensure Asia Pacific’s Dominance
The grade of phosphorus trichloride and the geographical reach of the global phosphorus trichloride market are the two of the significant parameters, on which, this research report has analyzed this market. According to the report, the worldwide market for phosphorus trichloride is spread across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. With a share of more than 44%, Asia Pacific led the global market in 2015 and is expected to remain seated in this position over the forecast period, thanks to the rise in various end-use industries, such as agrochemicals and pharmaceuticals.
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On the basis of the grade, pure grade phosphorus trichloride and analytical reagents have been considered as the two main segments of this market in this study. Among the two, the demand for pure grade phosphorus chloride has been higher than analytical reagents and is anticipated to continue like this throughout the forecast period due to the rising usage of pure grade phosphorus chloride in the production of agrochemicals, phosphorus oxychloride, and plasticizers
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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