Phosphorus Trichloride Market Size, Share & Trend | Industry Analysis Report, Forecast
The global
phosphorus trichloride market was valued at US$ 1,468.7Mn in 2018 and
is anticipated to expand at a CAGR of 4.95% from 2019 to 2027,
according to a new research report, titled ‘Phosphorus Trichloride
Market: Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2019–2027,’ published by Transparency Market Research
(TMR) ). The global phosphorus trichloride market is driven by rise
in the demand for use in the manufacture of herbicides and pesticides
in the agrochemicals sector. Asia Pacific accounts for a leading
share of the global phosphorus trichloride market, due to high demand
for agrochemicals in the region.
Rise in Use of
Pesticides in Asia Pacific to Boost Market
Phosphorus
trichloride is utilized as a pesticide intermediate. The compound is
largely employed in the production of organophosphorus pesticides
such as glyphosate. Glyphosate is an active constituent of various
herbicides, insecticides, and fungicides. The agrochemical
application segment held a dominant share of the global phosphorus
trichloride market in 2018. Rising population necessitates improved
farming efficiency in order to cater to the high demand for
agricultural products. Additionally, governments of countries, such
as India, have implemented subsidies to reduce the cost burden of
pesticides on farmers. This, in turn, has encouraged the usage of
pesticides. Growth of the pesticides industry in China is further
promoted by exports of pesticide-active ingredients and increased
domestic production of formulated pesticides.
Rise in Raw Material
Prices Hampering Market
The energy required
for mining and processing of phosphate rock and for production of
fertilizers derived from phosphorus is usually sourced from fossil
fuels. This leads to additional greenhouse gas (GHG) emissions,
shrinking fossil fuel resources, and pollution. Since both fossil
fuels and phosphorus are non-renewable and weakening resources, the
cost of processing and, thereby, the processed phosphorus is expected
to increase in the next few years. Thus, rise in phosphorus prices is
anticipated to significantly hamper the global phosphorus trichloride
market in the near future.
Pure Grade Segment
to Dominate Global Phosphorus Trichloride Market
Pure grade
phosphorus trichloride has phosphorus concentration of 96%–99%. It
is the most commonly used grade of phosphorus trichloride. The pure
grade segment accounted for a leading share of the global phosphorus
trichloride market in 2018. The segment is estimated to continue its
dominance during the forecast period also. In terms of demand, the
analytical reagent grade segment constitutes a minor share of the
global market. Moreover, phosphorus trichloride of this grade is
expensive due to its high purity. The analytical reagent grade
segment is anticipated to expand at a rapid pace during the forecast
period, due to rise in R&D activities for the use of phosphorus
trichloride of analytical reagent grade in pharmaceutical
applications.
Agrochemicals
Application Segment to Lead Global Phosphorus Trichloride Market
In terms of
application, the global phosphorus trichloride market has been
segmented into phosphorus oxychloride, chemical intermediates,
agrochemicals, plasticizers, pharmaceuticals, and others [including
surfactants, oil additives, and dyestuff]. The agrochemicals segment
held a leading share of the global phosphorus trichloride market in
2018 and is expected to maintain its dominance throughout the
forecast period. The agrochemicals segment is expected to be
attractive, in terms for growth rate, during the forecast period, due
to rise in the consumption of pesticides and herbicides across the
globe. Plasticizers and phosphorus oxychloride are also estimated to
be attractive application segments of the global market for
phosphorus trichloride during the forecast period. Plasticizers are
employed as plastic additives, as they help in improving properties
of plastics. Rise in the production of plastics is driving the demand
for plasticizers worldwide.
Request For Discount
On This Report @
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=3906
Asia Pacific
Dominates Global Phosphorus Trichloride Market
Based on region, the
global phosphorus trichloride market can be classified into North
America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. In terms of both value and volume, Asia Pacific was the
leading region of the global market in 2018. The phosphorus
trichloride market in Asia Pacific is expanding, in terms of value
and volume, owing to increase in the demand for phosphorous
trichloride in the agrochemicals sector in the region. In terms of
demand, Europe and North America constituted a significant share of
the global market for phosphorus trichloride in 2018. Demand for
phosphorus trichloride in Europe is expected to rise at a sluggish
pace during the forecast period, as the market in the region is
mature. Demand for phosphorus trichloride in North America is
expected to rise at a moderate pace during the forecast period, due
to moderate use of phosphorus trichloride in agrochemicals and
pharmaceuticals industries in the region.
Fragmented Nature of
Global Phosphorus Trichloride Market
The global market
for phosphorus trichloride is fragmented in nature, with several
large- and medium-scale manufacturers operating in the market. Key
players operating in the global market are Monsanto Company,
Syngenta, Mosaic Company, Solvay SA, and AkzoNobel N.V. Market
players have been profiled in terms of company overview, business
strategies, and recent developments.
Comments
Post a Comment