Phosphorus and Derivatives Market

Phosphorus and Derivatives Market Size (2023-2028)

The phosphorus and derivatives market will reach an estimated valuation of 97.32 billion dollars by 2028, while it will register this growth at a rate of 4.2% for the forecast period of 2023-2028

Phosphorus compounds are generally organic compounds. Fertilizers and the animal feed market are the main end users of phosphorus and its derivatives. Detergents are the main end users of industrial phosphates. The increase in the use of phosphorus in end-user industries such as detergents and fertilizers, the increase in the use of biofuels, and the growing demand for water treatment are attributed to the increasing demand for phosphorus and derivatives market.

Phosphorus & Derivatives Market Trends:

The main drivers of the phosphorus and derivatives market are the growing demand for water treatment, the development and introduction of halogen-free flame retardants (HFFRs) and the increased use of biofuels. A paradigm shift towards halogen-free halogen flame retardants such as organophosphate flame retardants is positively impacting the growth of the market. The growing need of crops to meet the food requirements of the growing population is largely the driving force behind the growth of the market. In addition, the decrease in arable land and the increased demand for nutrients essential for the functioning of the organism are also driving the growth of the world market. The use of phosphorus in batteries for electric vehicles, such as rechargeable lithium iron phosphate batteries, presents potential growth opportunities for the global market.

PHOSPHORUS AND DERIVATIVES MARKET REPORT COVERAGE:

Phosphorus & Derivatives Market Drivers:

The major drivers of this market include the use of phosphorus and its derivatives which serve various purposes such as essential nutrients for body function, population increase, development and introduction of new methods, rising fuel consumption, and growing demand for water treatment. The intensity of competitive rivalry in the phosphorus and its derivatives market is moderate to high. The phosphorous and derivatives market is anticipated to have a prominent growth rate with the rising demand from end users.   Phosphorus is widely used in the production of fertilizers. Phosphorus is an essential element for plant growth. A vital element for the production of steel is phosphorus. The latest trend of using halogen-free organophosphate flame retardants is positively affecting the market growth. The increase in population and the increasing need for food increase the demand for fertilizers. This demand is the driving force behind the growth of phosphorus and its derivatives market. Some factors are hindering the growth of the market, including the declining quality of phosphorus rock, the regulations implemented regarding the use of phosphorus in detergents, and the conservation of resources are the factors affecting the growth of the phosphorus market. The main drivers of the phosphorus and its derivatives market are the growing demand for water treatment, the development and introduction of halogen-free flame retardants (HFFRs), and the increased use of biofuels. A paradigm shift towards halogen-free halogen flame retardants such as organophosphate flame retardants is positively impacting the growth of the market. The growing need of crops to meet the food requirements of the growing population is largely the driving force behind the growth of the market. In addition, the decrease in arable land and the increased demand for nutrients essential for the functioning of the organism are also driving the growth of the world market. The increased use of phosphorus in end-user industries such as detergents and fertilizers, the increased use of biofuels, and the increasing demand for water treatment are attributed to the increasing demand for phosphorus and derivatives market.

Phosphorus & Derivatives Market Restraints:

Rising demand to have quality products at a lower cost is hindering the growth rate of the phosphorous & derivatives market. The market is tight due to several factors, such as regulations on the use of phosphorus in detergents, resource conservation, and declining PR quality. The deterioration in the quality of phosphate rock, the strict regulation on the use of phosphates in detergents, and the conservation of resources are the main factors that restrain this market.

Opportunities in the Phosphorus & Derivatives Market:

The use of phosphate in batteries for electric vehicles as well as improving the difficult process related to the production of phosphoric acid in furnaces will generate several opportunities that will lead to creative growth opportunities for the phosphorus and derivatives market during the forecast period mentioned above.

Challenges in the Phosphorus & Derivatives Market:

Strict rules and regulations by the government in accepting new technologies and less quality of phosphate rock are major challenging factors for the market.

Phosphorus & Derivatives Market Segmentation:

By Type:

• Ammonium Phosphate
• Industrial Phosphate
• Purified Phosphoric Acid
• Phosphorus Chloride
• Phosphorus Pentoxide
• Phosphorus Pentasulfide
• Other

Ammonium phosphate is the largest segment and holds more than 58.1% share of the phosphorus & derivatives market. 

 By Application:

• Fertilizers
• Detergents
• Food Industry
• Water Treatment Chemicals
• Metal Finishing
• Flame Retardant Material
• Other 

Fertilizers are the largest application in the phosphorus & derivatives market and hold more than 86.1% share of the market. The flame retardant material application is projected to register the highest CAGR of 7.7% between 2021 and 2026.

Phosphorus & Derivatives Market Regional Analysis:

The Phosphorus & Derivatives Market  Report includes the segmentation of Regions:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

Asia Pacific is expected to dominate the phosphorus and its derivatives market by 2026, followed by North America and Europe. The increase in agricultural production to meet the demand of the growing population propels the Asia Pacific phosphorous & derivatives market. The Middle East and Africa are the fastest-moving markets.

Europe is the second largest market with a share of 24% of total phosphoric acid turnover in 2020. Kazphosphate is one of the world's leading exporters, with its exports mainly directed to Europe, including the United Kingdom. United and Germany import an important part.

Asia-Pacific is the leading/important region in the world in terms of market share as agriculture is the main occupation of the country, like India which uses fertilizers extensively for crop yield. In addition, the growing government initiatives for water treatment in China, Japan, and India are further driving the market growth. Whereas Asia Pacific is also expected to show the highest growth rate / CAGR during the forecast period 2022 - 2027. Factors such as China's leadership in the manufacture of electric vehicle batteries whose demand will increase exponentially during the forecast period would create lucrative growth prospects for the phosphorus and derivatives market in the Asia region- Peaceful.

Impact of COVID-19 on Phosphorus & Derivatives Market:

The COVID-19 crisis hit the world in early 2020 that disrupted the shares of the phosphorous & derivatives market. The demand for the market has decreased due to lockdown restrictions everywhere. Disruptions in the supply chain and decreased production rate due to less manpower are major restraints for market growth during the pandemic. However, the market shares are slowly falling at the previous rate. In the coming period, the phosphorous & derivatives market shares to have to boost growth opportunities.

Phosphorus & Derivatives Market Key Players:

• OCP Group Inc
• The Mosaic Company
• EuroChem Group
• Budenheim USA, Inc.
• CF Industries Holdings, Inc.
• ICL
• Kazphosphate
• LANXESS
• PhosAgro Group of Companies
• Prayon S.A.
• Ma’aden
• Solvay
• UPL