Burgeoning Demand for Plastics Products to Position Phosphorus Trichloride Market at US$ 2.48 Bn by 2032

Phosphorus Trichloride Demand Fueled by Increased Use of Agrochemicals

A comprehensive study by Fact.MR on the global phosphorus trichloride market provides an unbiased analysis on the key governing factor facilitating sales during the assessment period 2022-2032. The study also offers detailed insights into emerging trend and opportunities that are accelerating demand for phosphorus trichloride across segments including type and application.

NEW YORK, June 8, 2022 /PRNewswire/ -- The global phosphorus trichloride market is projected to generate an absolute dollar opportunity worth US$ 798.6 Mn by the end of 2032.

Growing usage of phosphorus trichloride as an intermediate for the production of various chemicals such as phosphites and triphenylphosphine is estimated to push sales in the market past US$ 1.68 Bn by 2022.

Plastic product manufacturers are emphasizing on expanding their production capacities to cater to the surging demand. For instance, in May 2022, Micro Plastics India Ltd., a leading manufacturer of high-quality plastic products announced investing US$ 64.4 Mn for setting up a new plastic toys manufacturing facility in Tamil Nadu, India.

As phosphorus trichloride is extensively used as a plasticizer in the manufacturing of plastics products, a multiplicity of such developments are expected to augment growth. Driven by this, sales of phosphorus trichloride are projected to exceed US$ 2.48 Bn by the end of 2032, rising at a CAGR of 4% during the forecast period.

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With growing population and increasing demand for food, governments in various countries are undertaking initiatives such as providing subsidies and discounts on the purchase of agrochemicals such as fertilizers and pesticides to increase agricultural yield.

Since, phosphorus trichloride plays a vital role in the production of volume herbicides, pesticides, glyphosate, and organophosphate insecticides, increasing sales of above-mentioned agrochemicals will to bolster the demand in the market.

Key Takeaways:

• The U.S. is expected to account for the dominant share in the North America market, exhibiting growth at a CAGR of 3% during the forecast period.
• Sales of phosphorus trichloride in the U.K. is estimated to rise at a swift CAGR, assisting the Europe market to account for around 26.2% of the total revenue share in 2021.
• China is forecast to emerge as a highly lucrative market for phosphorus trichloride, owing to the growing plastics manufacturing activities in the country.
• India is anticipated to account for a significant share in the South Asia & Oceania market, driven by the rising emphasis on increasing agriculture productivity and sales of agrochemicals.
• In terms of grade, the pure grade segment is projected to exhibit robust growth, accounting for around 81.3% of the overall sales in the market.

Growth Drivers:

• Rising incidence of forest fire and fire breakout in the urban areas along with growing application of phosphorus trichloride in production of flame retardants is augmenting the demand in the market.
• Growing applications of pure grade phosphorus trichloride in the production of pesticides, herbicides, and flame retardants owing to the lower cost in comparison to analytical grade is favoring the growth in the segment.

Restraints:

• Increasing implementation of stringent regulations regarding the use of concentrated fertilizers, insecticides, pesticides, and others is hindering the sales across the organophosphorus pesticide segment.
• Side effects such as emphysema, loss of appetite, dizziness, headache, and vomiting due to the exposure to phosphorus trichloride are impeding its usage in commercial applications, thereby, hampering the growth in the market.

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Competitive Landscape:

Leading manufacturers in the global phosphorus trichloride market are focusing on strategies such as production capacity expansion, partnership, collaboration, and acquisition to gain a competitive edge in the market.

For instance,

• In February 2022, Mosaic Company, a global leader in the crop nutrient industry, announced acquiring a leader in agricultural biological and biotechnology, Plant Response, to increasing the production of agrochemicals.
• In January 2022, Syngenta, a leading agriculture company announced acquiring two next generation bioinsecticides, UniSpore^® and NemaTrident^®, from Bionema, a U.K.-based biocontrol technology developer.

Key Companies Profiled by Fact.MR

• Syngenta Crop Protection AG
• Mosaic Company
• Solvay S.A.
• Akzo Nobel N.V.
• Excel Industries
• Shanghai Fopol Chem-Tech Industry Co. Ltd.
• Nutrien Ltd.
• Guangzhou Zoron Chemical Technology Co. Ltd.
• Lanxess
• LianYunGang Dongjin Chemical Co. Ltd.
• Italmatch Chemicals

More Valuable Insights on Phosphorus Trichloride Market

In its recent survey, Fact.MR highlights crucial factors steering growth in the global phosphorus trichloride market between 2022 and 2032. The study also offers vital insights into drivers that are elevating the growth in the phosphorus trichloride market through detailed segmentation as follows:

Phosphorus Trichloride Market by Grade:

• Pure Grade
• Analytical Grade

Phosphorus Trichloride Market by End Use:

• Organophosphorus Pesticide
• Organophosphorus Chelating Agent
• Flame Retardants
• Other End-Uses

Phosphorus Trichloride Market by Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions Covered in the Phosphorus Trichloride Market Report

• What is the estimated revenue of the phosphorus trichloride market during the forecast period?
• Which are the challenges faced in the phosphorus trichloride market?
• Which region is estimated to exhibit fastest growth rate in the global phosphorus trichloride market during 2022-2032?
• What is the projected market valuation of the phosphorus trichloride market in 2022?
• Which are the factors driving the phosphorus trichloride during 2022-2032?
• What is the expected growth rate of the phosphorus trichloride market until 2032?

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