Phosphorous Trichloride Market Analysis,Growth And Forecast Report 2017 – 2025
According to the latest report published by Credence Research, Inc. "Phosphorous Trichloride Market Size - Growth, Future Prospects and Competitive Analysis, 2017-2025," the global phosphorous trichloride market was valued at US$ 1.37 Bn in 2016, and is expected to reach US$ 2.27 Bn by 2025, expanding at a CAGR of 5.0% from 2017 to 2025.
Market Insights
The global phosphorous chloride (PCl3) market has witnessed significant growth in the last decade supported by the proliferation of chemical and agrochemicals industry. Growing demand for food and food products has led to rise in use of chemical based pesticides and other agrochemicals to ensure healthy harvest has turned out to be a significant growth factor for phosphorous trichloride market. It is anticipated that the global phosphorous trichloride market will experience gradual growth through the forecast period; however, fluctuation in production and processing costs may hold back the growth of this market.
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Between pure and analytical reagent types, pure grade phosphorous trichloride leads the global market. Wide use across every application and usage area contributes to the dominance of this segment. Pure grade phosphorous is extensively used of agrochemicals, as a plasticizer and several other downstream applications. However, the demand for analytical grade phosphorous trichloride is anticipated to escalate during the forecast period attributed by upswing in life sciences and biotechnology research worldwide.
Based on application areas, this report studies the global phosphorous trichloride market for organophosphorus pesticides, flame retardants, organophosphorus chelating agents, Plastic additives and other applications. Among the considered application areas, organophosphorous pesticides occupies the largest revenue and volume share globally. Being the largest downstream consuming area, organophosphorous pesticides capture over 65% of the global market share in 2016. This segment is majorly driven by growing plantation areas due to increasing demand for food and agricultural products. The market for organophosphorous chelating agents is anticipated to witness the fastest growth rate during the forecast period due to growing research and commercialization initiatives taken in biotechnology, life sciences and pharmaceutical space.
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Based on geographical distribution, Asia Pacific is anticipated to be the largest market for phosphorous trichloride, both in terms of revenue and volume. Proliferation of downstream industries such as plastics, agrochemicals and pharmaceuticals in the emerging economies of this region is the premier driver of Asia Pacific phosphorous trichloride market. North America market or phosphorous trichloride is anticipated to the major trends on the global front. Other countries such as Germany, Italy, France, Brazil and others will also noticeably contribute to the global market revenue.
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