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Phosphorus Market leading countries with regional comparison and forecast 2024
1/28/2022
Global Phosphorus Market: Brief Overview
Phosphorous is a chemical element whose derivatives find application in several industries such as detergents, water treatment, flame retardants, batteries, chemical intermediates, and fertilizers among others. Although phosphorus has many allotropic forms, the ones which hold a commercial significance are white and red phosphorus. The chief industry which has exhibited a great desire for metal-based phosphates is the fertilizer industry for the purpose of increasing the production of crops. The derivatives of phosphorous which are used extensively across several sectors are phosphorous chloride, phosphoric acid, industrial phosphates, and phosphorous penta-oxide.
The research report is a comprehensive review of the growth path in terms of current, historical, and future prospects of the global phosphorous market. It offers an evaluation of the aspects that are anticipated to influence the market, negatively or positively. The chief trends have also been highlighted in the research study. The study further studies the trends through Porter’s five forces analysis. The publication provides references of mergers and acquisitions, the research and development projects, and details on licensing and collaborations. The report delves into the strategies related to marketing, shares, and product portfolio of the key participants in the global phosphorous market.
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Global Phosphorus Market: Drivers and Limitations
The usage of fertilizers in order to optimize the productivity of crops is a result of the growing demand for food crops. With the exponential growth in the consumption of food products, the market for phosphorous is also expected to surge at a significant rate as phosphorous derivatives are highly in demand in the fertilizer industry. In the sector of flame retardants, the implementation of strict regulatory mandates has triggered the use of retardants that are non-halogenated. These retardants are being used against the use of halogenated varieties, thus boosting the demand for phosphorous.
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However, the use of phosphorous is likely to be inhibited in developed countries where the governments have put a ban on the consumption of phosphorous. As a result of this regulations, players will be impelled to opt for market regions with relatively low regulatory policies. Players can also tap opportunities in the use of phosphorous in rechargeable batteries. In the next few years, this trend is likely to gain high significance in the market. The rising deployment of electric vehicles is also expected to have a positive impact on the growth of the global phosphorous market as the lithium iron phosphate batteries used here are proffered owing to their stability and low price.
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Global Phosphorus Market: Regional Analysis
At present, the global phosphorous market is being led by Asia Pacific owing to the high demand for the derivatives of phosphorous and flexible regulations and policies implemented by the governments in the region. The market for phosphorous is expected to rake in a significant share in countries such as China and India. The U.S. is also one of the leading consumer countries of phosphorous, especially in the chemicals industry and flame retardant manufacturers. The European market for phosphorous will also be benefited in the coming years due to the rising demand for electrical car batteries. Vietnam, China, and the U.S. are the leading producers of phosphorous and its derivatives.
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Global Phosphorus Market: Vendor Landscape
The leading companies in the phosphorous market are Yara International ASA, Ojsc Phosagro AG, Solvay-Rhodia, United Phosphorus Limited, Yuntianhua Group Co. Ltd, Prayon Group, and OCP Sa among others. The competition among the players in the global market for phosphorous is intense as they strive to capture a significant consumer base through product innovation.
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