The global phosphonates market was valued at USD 1.2 billion in 2022 and it is anticipated to grow up to USD 2.6 billion by 2032, at a CAGR of 7.8% during the forecast period.
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Phosphonate is a nonvolatile organophosphorus compound that is poorly soluble in organic solvents but soluble in water and common alcohols. They are effective chelating agents for di- and trivalent metal ions. Additionally, they inhibit crystal growth and scale formation and are stable under harsh chemical conditions. They find End User in various end-use sectors, including textiles, oil & gas, pulp & paper, agriculture, and water treatment. Phosphonate is used to cool water and desalination systems and in oil fields to inhibit scale formation. They inhibit crystal growth and scale formation and are very stable under harsh chemical conditions. Phosphonates are also used as peroxide bleach stabilizers.
Market Drivers and Trends
Increased population coupled with rapid urbanization has led to a shortage of potable water in both developed and developing economies, where phosphonates are widely used as corrosion inhibitors, antiscalants, chelants, sludge conditioners, deflocculants, dispersants, and crystal growth modifiers in the water treatment sector. This may act as one of the key drivers responsible for the growth of the phosphonates market. Additionally, factors such as the rise in the population of millennials, increase in fashion consciousness, and adoption of western culture among citizens of both developed and developing economies such as the U.S., China, and India have propelled the growth of the textile sector. Phosphonate plays a vital role in the textile industry, where it helps in the cleaning, finishing, and dyeing process. Furthermore, derivatives of phosphonates such as trisodium phosphate and trisodium phosphate crystalline (TSPC) are used as a source of alkalinity in the fiber-reactive dyeing process and brighten the synthetic yarn. Thus, due to above mentioned factors boosts the phosphonates market growth.
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Market Restraints and Challenges
Derivatives of phosphonates such as bisphosphonates are prescribed for osteoporosis-diagnosed patients; however, habitual consumption of bisphosphonate as medicine for prolonged periods may cause several health-related issues. For instance, prolonged use of phosphonates may cause joint pain, muscle pain, reduced bone density, and improper kidney function. Further, the toxic nature of phosphonate and the availability of various constituents are anticipated to hinder the growth of the global phosphonate market.
Major Players in the Global Phosphonates Market
The key players studied in the global phosphonates market are Acuro Organics Limited (India), APChem (US), Aquapharm Chemical Pvt. Ltd (India), Biesterfeld AG (Germany), Changzhou Kewei Fine Chemicals Co., Ltd. (KWCHEM) (China), Exago (India), Giovanni Bozzetto S.p.A. (Italy), LANXESS AG (Germany), Maxwell Additives Pvt. Ltd. (India), and Shandong Taihe Water Treatment Technologies Co., Ltd. (China).
COVID-19 Impact
In 2020, the temporary shutdown of construction and infrastructure activities amid the COVID-19 pandemic period reduced the consumption of phosphonates for curing concrete from the ground. The COVID-19 outbreak has affected the demand for phosphonate in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in a slowdown and even halt in manufacturing operations, thus hampering the demand for phosphonate. The textile industry was badly affected during lockdowns. As everyone was stuck inside their homes, sales of clothes were hampered. In many regions, sales of non-essential goods such as clothes have been poor for many months during the pandemic. This adversely affected the demand for phosphonates. The COVID-19 outbreak has directly affected the production of phosphonate. The industrial shutdown caused by the COVID-19 pandemic has disrupted the supply chain. Disruption in the supply of raw materials is projected to hamper the full-scale operations of companies operating in the market. Thus, the COVID-19 pandemic had a negative impact on the global phosphonates market. However, the phosphonates market is expected to recover rapidly post COVID-19 situation due to its increased dependency on healthcare & pharmaceutical, agriculture, and other sectors.
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Global Phosphonates Market Segmentation
By Type
- ATMP
- HEDP
- DTPMP
- BHMT
- Others
By Application
- Water Cleaner
- Scale Inhibitors
- Bleach Stabilizer
- Chelating Agents
- Concrete Additives
- Others
By End User
- Water Treatment
- Pharmaceutical
- Textile
- Oil and Gas
- Pulp and Paper
- Agriculture
- Others
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