Phosphorous Acid Market - Forecast(2023 - 2028)

Report Code: CMR 25648 Report Format: PDF + Excel

Phosphorous Acid Market Overview

Phosphorous Acid Market size is estimated to reach US$29.0 billion by 2027, after growing at a CAGR of 3.9% from 2022-2027. Phosphorous acid is a chemical compound which is produced by hydrolysis of acetic anhydride or phosphorous trichoride with steam or water. The acid has higher acidity corresponding to phosphoric acid and thus is more acidic than its counterpart. The compound is majorly used in production of PVC stabilizer such as lead phosphite, synthetic fibers, organophosphorus pesticides, efficient water treatment agent and also it is used as strong reducing agent. Hence, due to such applicability, major sectors like automotive, construction, textile and agriculture forms the major user of phosphorous acid. Factors like growing construction activities, increase in production volume of automotive and high demand for clothing & apparel items are driving the growth of global phosphorous acid market. However, phosphorous acid has some negative effects on human health such as nose & skin irritation, lung problem, and shortness of breath. This can negatively impact the usage of phosphorous acid in sectors like agriculture, which can hamper the growth of global phosphorous acid industry

Phosphorous Acid Market

COVID-19 Impact

The necessary measures taken by countries such as consequential lockdown in order to prevent the wide spread of COVID-19, negatively impacted the functionality of major user of synthetic fibers and PVC plastics such as automotive and construction. Phosphorous acid forms basic ingredient in synthetic fibre production and also, lead phosphite made from phosphorous acid is used as PVC stabilizer in PVC plastic production. Synthetic fibre is used in automotive parts like seats and valves, while PVC plastic forms building products like pipes and fittings. The lack of availability of labors and raw material disrupted the activities of automotive & construction sector which had negative impact on usage of synthetic fibers and pvc plastic. For instance, as per, International Construction and Infrastructure Surveys, the construction and infrastructure activities across all regions went down in Q1 of 2020 with China in the Asia-Pacific region having the sharpest workload contraction. Also, as per the International Organization of Motor Vehicle Manufacturing, in 2020 there was a 16% global decline in vehicles production. Such decrease in productivity of these sectors, negatively impacted the demand for synthetic fibers and PVC plastic in them, thereby leading to less usage of phosphorous acid in production of such materials. This negatively impacted the growth of phosphorous acid industry.

Report Coverage

The report: “Phosphorous Acid Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Phosphorous Acid Industry

By Grade – Technical Grade, Agriculture Grade, and Others
By Form – Liquid, Solid, and Others
By Application – Stabilizer, Reducing Agent, Water Treatment Chemical, Fertilizers, and Others
By End User – Automotive (Passengers Cars, Heavy Commercial Vehicles, Light Commercial Vehicles, Others (Three-Wheeler, Two-Wheeler)), Construction (Residential, Commercial), Agriculture, Oil & Gas, Power Industry (Thermal, Wind, Hydro) Textiles (Woven, Non-woven) and Others
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • Asia-Pacific dominates the phosphorous acid industry as the region has major end users of phosphorous acid like textile, agriculture and automotive in major countries like China, India and South Korea
  • Phosphorous acid is used in agriculture sector due to its ability to control the fungal diseases caused by pathogens that belong to the Oomycota on agronomical and horticultural crops.
  • Phosphorous acid is also used in production of phosphonic acid like aminotris which is an effective scale inhibitor used in various industrial applications such as industrial water treatment and detergents.

Figure: Asia-Pacific Global Phosphorous Acid Market Revenue, 2021-2027 (US$ Billion)
Phosphorous Acid Market

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Phosphorous Acid Market Segment Analysis – By Grade

Technical Grade held a significant share in phosphorous acid market in 2021, with a share of over 42%. Phosphorous acid as reducing agent is used in production of synthetic fibers and water treatment agent like aminotris, while lead phosphite made by phosphorous acid is used as PVC stabilizer and forms basic ingredient in PVC plastic production. Also, phosphorous acid dye is used in textile manufacturing. Growing technological advancement has increased the productivity of sectors like textile, automotive, and construction. For instance, as per the US Bureau of Economic Analysis, the output of textile manufacturing in the US in 2019 was US$18.79 billion which was 23.8% more from 2009. Also, as per European Automobile Manufacturers Association, the production and registration of passenger cars in the EU increased by 53.4% in 2021 with strong volume seen in Spain, France, Germany. Further, as per US Census Bureau, in 2021, construction activities increased in US, with residential construction showing an increase of 4.1% in November, up by 1% from 2020 same month. Such increase in productivity of these sectors will lead to more usage of phosphorous acid in textile dyes, synthetic fibers and lead phosphite production for PVC stabilizers. This will positively impact the growth of phosphorous acid industry.

Phosphorous Acid Market Segment Analysis – By End User

Construction sector held a significant share in phosphorous acid market in 2021, with a share of over 25%. Phosphorous acid forms a major ingredient in synthetic fibre production which are used in concrete mixture to reduce shrinkage and temperature cracking. Also, phosphorous acid is used in making lead phosphite which is used as PVC stabilizer during polyvinyl chloride plastic formation. PVC is majorly used in construction products like cables, window frames, rooftop, pipes and fitting. The rapid development in the construction sector in countries has increased the scale of construction activities and the undertaking of new infrastructure projects. For instance, as per European Union, in December 2021, construction of building increased by 4.6% and civil engineering by 3.3% compared to 2020. Also, in 2019 a total of US$ 102.3 billion worth of projects were processed across all GCC countries, compared to US$ 101.8 billion in 2018. Such increase in construction and infrastructure development activities will lead to more usage of synthetic fibre and PVC plastics, resulting in more usage of phosphorous acid in their production. This will positively impact the growth of phosphorous acid industry.

Phosphorous Acid Market Segment Analysis – By Geography

Asia-Pacific held the largest share in phosphorous acid market in 2021, with a share of 32%. The region consists of major end-users of phosphorous acid like automotive, construction and agriculture sector in major economies like China, India, South Korea and Australia. The economic development in these nations has led to increase in the industrial output of these sectors. For instance, as per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. Also, as per the State Council for the People’s Republic of China, in July 2021 China has approved projects related to the development of affordable rental homes. Further, as per October reports of Infrastructure Australia 2021, the major infrastructure activity relating to commercial buildings, civil infrastructure, and residential will double in the next three years. Phosphorous acid is used in making synthetic fibers that are used in automotive parts and lead phosphite made from phosphorous acid act as PVC stabilizer in PVC plastic which is used in construction products such as pipes and window profiles. Growing productivity in construction and automotive sector will create more demand of synthetic fibre and PVC in them, resulting in more usage of phosphorous acid in their production. This will positively impact the growth of phosphorous acid industry

Phosphorous Acid Market Drivers

Growing Construction Activities

PVC is the most used plastic material for building and construction products such as pipes, cables, window profiles, flooring and roofing. The most important use of phosphorous acid is the production of basic lead phosphite, which is a PVC stabilizer and forms an important ingredient in PVC formulation. Lead phosphite protects PVC plastic from the harmful effects of extreme temperature and ultraviolet radiations. Emerging economies, rapid urbanization, and various infrastructural developments undertaken by countries have increased the scale of construction activity. For instance, in preparation for the 2021 Expo, Dubai awarded about 47 construction contracts with a total value of US$ 3 billion to local and foreign companies. In 2019 National Development and Reform Commission of China approved 26 infrastructure projects estimated to be completed by 2023. Also, in 2021, Oman’s Ministry of Housing and Urban Planning five new integrated projects that would provide 4800 housing units. The growing construction activities and infrastructure development projects will increase demand of PVC plastic, thereby increasing usage of phosphorous acid in its production. This will have a positive impact on the growth of the phosphorous acid industry.

Increase in Production volume of Automotive

Phosphorous acid forms major raw material in the production of synthetic fibers such as nylon and polyester. These fibers have major applicability in automotive sector, as polyester is used in seat cushion and nylon is used in components like valves, connecting road and crankshaft. The increase in purchase capacity, improvement in living standards, and rapid urbanization have led to an increase in the demand for new automotive vehicles, thereby increasing their production volume. For instance, as per the International Organization of Motor Vehicle Manufacturing, in 2021, the global production volume was 80.1 million units showing an increase of 3% from 2020. Also, as per the November 2021 report of the Europe Automobile Manufacturer Association, the new passenger car registration in the first ten months of 2021 increased up to 2.2% with an increase shown in European Union markets like Italy showed 12.7%, Spain showed 5.6% and France showed 3.1%. Such increase in automobile production will positively impact the usage of synthetic fibers in automotive sector, resulting in more usage of phosphorous acid in their production. This will have positive impact on growth of phosphorous acid industry.

Phosphorous Acid Market Challenges

Negative impact on health

Phosphorous acid though it has high industrial applicability, however it has certain negative effects on human health. For instance, the contact of acid with human skin can lead to issues like skin irritation and skin burn. Moreover, Phosphorous acid can lead to nose irritation, lungs & throat problems, coughing and shortness of breath. Hence, such adverse impact of phosphorous acid on human health can lead to negative impact on its usage in industrial sectors. This can hamper the growth of phosphorous acid industry.

Phosphorous Acid Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In phosphorous acid market report, the phosphorous acid top 10 companies are:

  1. Rudong Huayun Chemical
  2. Futong Chemical
  3. Zibo TianDan Chemical
  4. Nanjing Jiayi Sunway Chemical Co. Ltd
  5. Sure Chemical Co. ltd
  6. Ningbo Samreal Chemical Co. Ltd
  7. Mudangjiang Fengda Chemicals
  8. Hebei Mojin Biotechnology Co. Ltd
  9. Chemfine International Co. Ltd
  10. Linyi Chunming Chemical

Recent Developments

  • In 2021, EuroChem Group AG, a leading global fertilizer company, acquired the Serra do Salitre phosphate project in Brazil, and such acquisition will strengthen the Group’s phosphorous based fertilizer production.
  • In 2021, Nautic Partners acquired Aurora Plastic a leading manufacturer of PVC, and such acquisition will expand the company’s portfolio of high-end products including PVC polymers.
  • In 2020, BASF produced an improved Red Phosphorus polyamide grade for its Asian market, and the material has exceptional mechanical performance and great flame retardancy.

Relevant Reports

Report Code – CMR 0132

Report Code – CMR 0487

Report Code – CMR 0418

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1. Phosphorous Acid Market- Market Overview
    1.1 Definitions and Scope
2. Phosphorous Acid Market - Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Form
    2.3 Key Trends by Application
    2.4 Key Trends by End User
    2.5 Key Trends by Geography
3. Phosphorous Acid Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Phosphorous Acid Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Phosphorous Acid Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Phosphorous Acid Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Phosphorous Acid Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Phosphorous Acid Market – By Grade (Market Size – US$ Million/ Billion)
    8.1 Technical Grade
    8.2 Agriculture Grade
    8.3 Others
9. Phosphorous Acid Market – By Form (Market Size – US$ Million/ Billion)
    9.1 Liquid
    9.2 Powder
    9.3 Other
10. Phosphorous Acid Market – By Application (Market Size -US$ Million/Billion)
    10.1 Stabilizer
    10.2 Reducing Agent
    10.3 Water Treatment Chemical
    10.4 Fertilizers
    10.5 Others
11. Phosphorous Acid Market – By End User (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Vehicles
        11.1.2 Heavy Commercial Vehicles
        11.1.3 Light Commercial Vehicles
        11.1.4 Others (Three-Wheeler/ Two-Wheeler)
    11.2 Construction
        11.2.1 Residential Construction
        11.2.2 Commercial Construction
    11.3 Agriculture
    11.4 Oil & Gas
    11.5 Power Industry
        11.5.1 Thermal
        11.5.2 Wind
        11.5.3 Hydro
    11.6 Textile
        11.6.1 Woven
        11.6.2 Non-Woven
    11.7 Others
12. Phosphorous Acid Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Phosphorous Acid Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Phosphorous Acid Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Phosphorous Acid Market – Key Company List by Country Premium Premium 
16. Phosphorous Acid Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Phosphorous Acid Market, by Type Market 2019-2024 ($M)
2.Global Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Phosphorous Acid Market, by Type Market 2019-2024 (Volume/Units)
4.Global Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Phosphorous Acid Market, by Type Market 2019-2024 ($M)
6.North America Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Phosphorous Acid Market, by Type Market 2019-2024 ($M)
8.South America Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Phosphorous Acid Market, by Type Market 2019-2024 ($M)
10.Europe Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Phosphorous Acid Market, by Type Market 2019-2024 ($M)
12.APAC Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Phosphorous Acid Market, by Type Market 2019-2024 ($M)
14.MENA Phosphorous Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
2.Canada Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
3.Mexico Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
4.Brazil Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
5.Argentina Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
6.Peru Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
7.Colombia Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
8.Chile Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
10.UK Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
11.Germany Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
12.France Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
13.Italy Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
14.Spain Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
16.China Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
17.India Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
18.Japan Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
19.South Korea Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
20.South Africa Global Phosphorous Acid Market Revenue, 2019-2024 ($M)
21.North America Global Phosphorous Acid By Application
22.South America Global Phosphorous Acid By Application
23.Europe Global Phosphorous Acid By Application
24.APAC Global Phosphorous Acid By Application
25.MENA Global Phosphorous Acid By Application