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Rise in population and rapid urbanization led to shortage of potable water in both developed and developing countries, where phosphonates are widely used. This is the prime driving factor for the growth of the global phosphonates market.
PORTLAND, Ore., Aug. 2, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Phosphonates Market by Type (ATMP, HEDP, DTPMP, BHMT, Others), by Application (Water Cleaner, Scale Inhibitors, Bleach Stabilizer, Chelating Agents, Concrete Additives, Others), by End Use (Water Treatment, Pharmaceutical, Textile, Oil and Gas, Pulp and Paper, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report, the global phosphonates industry generated $0.9 billion in 2021, and is projected to reach $1.6 billion by 2031, growing at a CAGR of 5.98% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.
Drivers, restraints, and opportunities
Rise in population and rapid urbanization led to shortage of potable water in both developed and developing countries, where phosphonates are widely used. This is prime driving factor for the growth of the global phosphonates market. In addition, increase in fashion consciousness, and adoption of western culture have fueled the growth of the textile sector, which has supplemented the demand for phosphonates. However, derivatives of phosphonates such as bisphosphonates are prescribed for osteoporosis diagnosed patients and several health-related issues due to prolonged use of bisphosphonates hinder the market. On the contrary, surge in severity of diseases and growth of pharmaceutical industry across the globe have are expected to open new opportunities in the future.
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Covid-19 scenario:
- Temporary shutdown of construction and infrastructure activities amid the pandemic decreased the demand for phosphonates for curing of concrete from growth.
- Since the Covid-19 outbreak, the major end users of the phosphonates such as textile, oil and gas, pulp & paper, and other industries suffered major losses, which negatively affected the market.
- The prolonged lockdown increased the gap between supply and demand. As per a report published by the National Bureau of Statistics of China, the chemical industry experienced a 20% decline in production in March 2020 as compared to March 2019, while profits declined by 66%.
The HEDP segment dominated the market
By type, the HEDP segment held the lion’s share in 2021, accounting for more than one-fourth of the global phosphonates market, and is expected to continue its leading position throughout the forecast period, due to the fact that HEDP type phosphonate acts as an excellent scale inhibitor, corrosion inhibitor, and complex chelating in various industries such as in detergents, water treatment, oilfield, and textile. However, the DTPMP segment is projected to portray the highest CAGR of 6.45% during the forecast period, due to rise in risk of waterborne disease and surged awareness about water purification application in both developed and developing countries.
The chelating agents segment to register the highest CAGR through 2031
By application, the chelating agents segment is anticipated is estimated to register the highest CAGR of 6.59% from 2022 to 2031. This is attributed to the fact that phosphonates acts as chemical additives to function as threshold antiscalants, sludge conditioners, corrosion inhibitors, and others. However, the water cleaner segment held the lion’s share in 2021, contributing to more than one-fifths of the global phosphonates market. This is attributed to rapid urbanization, rise in industrialization, increase in human-induced activities such as building & construction activity, oil spillage, and others.
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The pharmaceutical segment dominated the market
By end use, the pharmaceutical segment held the largest share in 2021, accounting for more than one-fifth of the global phosphonates market, is estimated to continue its dominance throughout the forecast period. This is attributed to the fact that phosphonates have proven its pharmacological utility as inhibitors of enzymes that metabolize phosphate and pyrophosphate substrates. However, the water treatment segment is expected to showcase the highest CAGR of 6.67% from 2022 to 2031. This is attributed to increase in scarcity of potable water which in turn has surged the water treatment activities where phosphonates are used as corrosion inhibitor to prevent metal dissolution from water pipe into treated water.
Asia-Pacific held the lion’s share
By region, the global phosphonates market across Asia-Pacific held the largest share in 2021, accounting for nearly two-fifths of the market. Furthermore, the market across Asia-Pacific is anticipated to register the highest CAGR of 6.15% during the forecast period, due to rapid growth of pulp & paper manufacturing sector and textile sector in developing countries such as China and India.
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 41
The report analyzes these key players of the market. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.
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