Phosphorus Trichloride Market Overview to 2023: —
As per the recently released report by the Market Research Future (MRFR), the global phosphorus trichloride market is expected to grow at a noteworthy pace during the forecast period of 2016 to 2023. The manufacturing of commodity chemicals and agrochemicals is one of the major driving factors of the global market. The demand for agrochemicals is strikingly increasing to meet the consumption requirements of the rapidly growing population. This is subsequently boosting the growth of the market. Phosphorus trichloride is majorly used in the chemical synthesis of organophosphorus compounds and acts as precursor to other chemicals like phosphoryl chloride (POCl3), phosphorus pentachloride (PCl5), and thiophosphoryl chloride (PSCl3). This chemical compound is a highly important ingredient for the manufacturing of gasoline additives. This is, in turn, expected to also aid the market growth due to the highly efficient and superior quality fuels from the automotive industry. It is also reported that the high demand for phosphorus trichloride is linked with its role as a plasticizer. It provides enhanced level of plasticity, flexibility, and durability for its used in PVC. Additionally, the growing awareness concerning sexually transmitted and heart-related diseases and disorders is driving the market as well. Furthermore, it is worth noting that phosphorus trichloride is also used for the electrodeposition of metal on rubber and for producing flame retardants.
However, the growth of the market can be hampered due it being classified as extremely corrosive and toxic by the EU Directive 67/548/EEC. Add to this, both the Occupational Safety and Health Association (OSHA) and the National Institute for Occupational Safety & Health (NIOSH) have pre-fixed a limitation on the product exposure level.
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The global phosphorus trichloride market hosts numerous key players, namely Solvay (Belgium), LAXNESS (Germany), Sandhya Group (India), Monsanto Company (the U.S.), ICL (Israel), PCC Rokita (Poland), Merck KGaA (Germany), Parchem fine & Specialty Chemicals (New York), Xuzhou Jianping Chemical Co., Ltd (China), Alfa Aesar (US), and others.
The global phosphorus trichloride market segmentation is based on two key dynamics, namely application and region.
On the basis of application, the market segments into pharmaceuticals, chemical intermediate, gasoline additive, agrochemicals, and others.
The market is geographically segmented across five key regions, namely North America, Latin America, Asia Pacific, and the Middle East & Africa.
Among the above-mentioned names, The Asia Pacific region is expected to lead the global market in the forthcoming years as per the report published by MRFR. The dominance of the region can be boiled down to the high demand from agrochemical and chemicals industries. In this region, the chemical compound is used for the manufacturing of insecticides, fertilizers, and pesticides. This acts as a key factor influencing the growth of the market in Asia Pacific. The increasing demand for superior crop productivity coupled with the expanding population base are two other key factors that are expected to drive the growth of the market in this region in the coming years.
The North American market is majorly driven by the increasing demand for phosphorus trichloride from developed chemical industries. Additionally, it is worth noting that the demand for pharmaceuticals and pharma-related products in the US is one of the key drivers of the market contributing to the overall growth of the North American region.
Europe stands third as per the global standings of phosphorus trichloride and is expected to experience significant growth in the forthcoming years. This is based on the growing demand from various major industries like the plastics & polymers, chemicals, and others. The Latin American market is expected to garner meagre growth over the forecast period. However, the region is driven by the increasing product demand for the manufacturing of plasticizers. Countries like Brazil and Argentina play a major role behind the growth of the Latin American regional market.
Finally, the Middle East & Africa is forecasted to attain significant growth in the forthcoming years on account of the increasing demand for pesticides and agrochemicals due to the surging health awareness among the consumers herein and a rising demand for food production.
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