Seoul, South Korea, Aug. 26, 2022 (GLOBE NEWSWIRE) -- As per the recently published report by Fact.MR, a market research and competitive intelligence provider, the global phosphorus trichloride market is anticipated to expand at a CAGR of 4% to reach a valuation of US$ 2.48 billion by the end of 2032.
Phosphorus trichloride is used to form glyphosate, an organophosphorus pesticide, and other halfway pesticides, as a functioning constituent of different fungicides, insect poisons, herbicides, etc. The creation of manure from phosphorus is basically sourced from petroleum products, which prompts GHG, an ozone-depleting substance, contraction of non-renewable energy source assets, etc.
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This chemical also finds extensive use as a fertilizer in the agricultural sector. The phosphorus trichloride market is anticipated to witness steady growth owing to high demand from the agrochemicals industry over the coming years.
Phosphorus trichloride usage in the production of chemicals such as triphenylphosphine and phosphites and rapid expansion of the global chemicals industry are driving demand for the product, providing a gain of 97 BPS to the global phosphorus trichloride market by 2032.
Which Factors Can Restrain Application Demand?
“Toxic Nature of Phosphorus Trichloride Denting Market Expansion Prospects”
Phosphorus trichloride, when exposed to humans, can lead to severe harmful impacts. For instance, its exposure can be dangerous to human health as it is highly toxic if swallowed and can be fatal if inhaled. It can also cause severe burns resulting in scarring if it is absorbed through the skin. However, consumer exposure does not occur easily as it is not used in commercially-available products.
In addition, phosphorus trichloride is also harmful to aquatic life due to ecotoxicological testing performed on fish and fresh-water invertebrates, because of the formation of acids from hydrolysis of phosphorus trichloride.
The various harmful effects of phosphorus trichloride is predicted to restrain its demand by 0.3X over the assessment period of 2022-2032.
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Key Segments Covered in the Phosphorus Trichloride Industry Survey
- Phosphorus Trichloride Market by Grade :
- Pure Grade
- Analytical Grade
- Pure Grade
- Phosphorus Trichloride Market by End Use :
- Organophosphorus Pesticide
- Organophosphorus Chelating Agent
- Flame Retardants
- Other End-Uses
- Organophosphorus Pesticide
- Phosphorus Trichloride Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
- North America
Development of Market
The global phosphorus trichloride market consists of medium-scale manufacturers preferring captive consumption of phosphorus trichloride. The market is witnessing pricing fluctuations, owing to discouraging demand from downstream plasticizers, gasoline additives, catalysts, etc., and enhanced supply from production units.
For instance, while North America saw a rise in prices, Asia Pacific witnessed a decline in prices. In addition, key players in the market are collaborating with end-use industries to establish a strong consumer base along with incorporating advanced products.
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Key players in the Phosphorus Trichloride Market
- Syngenta Crop Protection AG
- Mosaic Company
- Solvay S.A.
- Akzo Nobel N.V.
- Excel Industries
- Shanghai Fopol Chem-Tech Industry Co. Ltd.
- Nutrien Ltd.
Key Takeaways from Phosphorus Trichloride Market Study
- The global phosphorus trichloride market is estimated at US$ 1.68 billion and is projected to expand at 4% CAGR through 2032
- The market witnessed 3% CAGR during the period 2017-2021.
- Under the grade segment, pure phosphorus trichloride dominates and is predicted to be valued at over US$ 2 billion by the end of 2032.
- Under end use, organophosphorus pesticides dominate the market with 41.9% market share.
- Based on region, demand for phosphorus trichloride is expected to increase at CAGRs of 4.6% and 4.9% in East Asia and South Asia & Oceania, respectively, over the forecast period.
- Together, North America and Europe are likely to represent 55.7% of the overall market share in 2022.
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