The Phosphorus Trichloride Market Size accounted for USD 1.59 Billion in 2022 and is estimated to achieve a market size of USD 2.95 Billion by 2032 growing at a CAGR of 6.4% from 2023 to 2032.
Phosphorus Trichloride Market Highlights
Phosphorus trichloride is a fluid that appears colorless or slightly yellow and emits smoke. Similar to hydrochloric acid, it has a pungent smell. It is primarily used as a chemical intermediate in the production of agrochemicals and flame retardants. Additionally, phosphorus trichloride serves as a plasticizer in the manufacturing of plastics. This chemical is employed in agrochemical products, and the increasing population and urbanization are driving the demand for agriculture, consequently increasing the need for phosphorus-containing mineral fertilizers. Phosphorus trichloride is utilized as an intermediate product in the production of chemicals such as triphenylphosphine and phosphites. The global chemical industry is expected to expand due to the growing demand for phosphorus trichloride as an intermediate over the phosphorus trichloride industry forecast period.
Global Phosphorus Trichloride Market Dynamics
Phosphorus Trichloride Market Report Coverage
|Phosphorus Trichloride Market
|Phosphorus Trichloride Market Size 2022
|USD 1.59 Billion
|Phosphorus Trichloride Market Forecast 2032
|USD 2.95 Billion
|Phosphorus Trichloride Market CAGR During 2023 - 2032
|Phosphorus Trichloride Market Analysis Period
|2020 - 2032
|Phosphorus Trichloride Market Base Year
|Phosphorus Trichloride Market Forecast Data
|2023 - 2032
|By Grade, By Application, And By Geography
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|Parchem fine & specialty chemicals, SANDHYA GROUP, Shandong Futong Chemical Co., Ltd., Bayer AG, ICL, Henan Qingshuiyuan Technology Co., Ltd., Solvay, Anhui Guangxin Agrochemical Co., Ltd., Merck KGaA, Xuzhou Jianping Chemical Co., Ltd., LAXNESS, Excel Industries Ltd, and PCC Rokita Spólka Akcyjna.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis
Phosphorus Trichloride Market Insights
A growing demand for commodity chemical products and agrochemicals primarily drives the global phosphorus trichloride sector. Organophosphonates, used in various water treatment processes such as cleaners, chelating agents, corrosion inhibitors, and scaling agents, contribute to market growth. Another significant driving factor is the increasing demand for agrochemicals to meet the consumption needs of a rapidly growing population. Phosphorus trichloride is a key ingredient in the production of gasoline additives, expected to boost market growth due to high efficiency and improved fuel quality.
Furthermore, the high demand for phosphorus trichloride as a plasticizer, driven by its use in PVC for enhanced flexibility, plasticity, and durability, further propels market growth. The product also serves as a raw material for the drug Sulfadiazine, used in preventing diseases such as rheumatic fever, chancroid, chlamydia, and Haemophilus influenzae infections. The New England Journal of Medicine reported 33.4 million cases of rheumatic cardiac disease and 10.5 million disability-adjusted life years worldwide due to rheumatic cardiovascular disease, highlighting the growing sensitivity to cardiovascular and sexually transmitted conditions, which further drives market growth. Additionally, phosphorus trichloride finds applications in rubber metal electrodeposition and flame retardant production.
However, under the EU directive 67/548/EEC, phosphorus trichloride is considered extremely toxic and corrosive, posing a potential challenge to market growth during the evaluation period. The National Institute for Safety and Health at the Workforce (NIOSH) and the OSHA have also imposed restrictions on product exposure.
Phosphorus Trichloride Market Segmentation
The worldwide market for phosphorus trichloride is split based on grade, application, and geography.
Phosphorus Trichloride Grades
The pure grade of phosphorus trichloride, with a phosphorus content ranging from 96% to 99%, is lower than the analytical reagent grade. Pure grade is the standard grade for phosphorus trichloride. In 2022, the pure segment held the world's leading market share in phosphorus trichloride, and it is estimated to maintain its dominance during the forecast period. Analytical reagent grade constitutes a small proportion of the global market demand, and due to its high purity, it is relatively expensive. Nevertheless, the segment is expected to expand rapidly in the phosphorus trichloride market forecast period.
The analytical reagents segment is anticipated to generate profitable opportunities in the phosphorus trichloride market over the forecast period, driven by its high purity and new applications in the pharmaceutical industry
Phosphorus Trichloride Applications
According to the phosphorus trichloride industry analysis, the market is dominated by the chemical intermediates segment, which is crucial in determining the direction of the industry. This category, which includes a wide variety of chemical compounds, is an essential component in the production of different end products for use in numerous sectors. Chemical intermediates are important because they are essential components used in the synthesis of medicines, plasticizers, and agrochemicals, among other products. Because of their adaptability, chemical intermediates play a crucial role in the synthesis of complex compounds, which makes it easier to create a wide range of downstream products. These intermediates are crucial to industries because they help them improve and optimise their manufacturing processes, which guarantees productivity and economy of scale. Phosphorus trichloride adds an additional layer of need to chemical intermediates, which affects the end products' qualities and attributes.
Furthermore, the need for chemical intermediates is closely related to the expansion of various industries, which increases its importance in the dynamics of the market as a whole. The chemical intermediates market segment is anticipated to hold onto its leadership as industries continue to change and diversify. This is because downstream applications are likely to grow steadily and chemical synthesis technologies will continue to progress. The phosphorus trichloride market is essentially built around the chemical intermediates segment, which promotes innovation and maintains the market's upward trajectory.
Phosphorus Trichloride Market Regional Outlook
The Middle East & Africa
Phosphorus Trichloride Market Regional Analysis
The global phosphorus trichloride market is regionally segmented into North America, Europe, Asia-Pacific, the Middle East, Africa, and Latin America. In 2022, the Asia-Pacific region emerged as the dominant force in the world market for phosphorus trichloride, asserting its prominence not only as the largest consumer but also as a leading producer. The majority of global phosphorus trichloride production is concentrated in China, where a substantial number of producers contribute to the country's commanding position in the market.
In Europe, the demand for phosphorus trichloride is anticipated to grow at a relatively modest pace, reflecting the maturity of the market in the region. Conversely, North America is projected to experience moderate increases in demand for phosphorus trichloride throughout the forecast period, driven by the rising need for agrochemicals in the region.
Latin America, on the other hand, is poised for rapid growth in phosphorus trichloride demand, particularly in the agrochemical sector. As the region experiences heightened agricultural activities and an increasing focus on crop productivity, the demand for phosphorus trichloride in Latin America is expected to witness a significant upswing in the forecast period.
Phosphorus Trichloride Market Players
Some of the top phosphorus trichloride companies offered in our report includes Parchem fine & specialty chemicals, SANDHYA GROUP, Shandong Futong Chemical Co., Ltd., Bayer AG, ICL, Henan Qingshuiyuan Technology Co., Ltd., Solvay, Anhui Guangxin Agrochemical Co., Ltd., Merck KGaA, Xuzhou Jianping Chemical Co., Ltd., LAXNESS, Excel Industries Ltd, and PCC Rokita Spólka Akcyjna.
The phosphorus trichloride market size was valued at USD 1.59 billion in 2022.
The CAGR of phosphorus trichloride is 6.4% during the analysis period of 2023 to 2032.
The key players operating in the global market are including Parchem fine & specialty chemicals, SANDHYA GROUP, Shandong Futong Chemical Co., Ltd., Bayer AG, ICL, Henan Qingshuiyuan Technology Co., Ltd., Solvay, Anhui Guangxin Agrochemical Co., Ltd., Merck KGaA, Xuzhou Jianping Chemical Co., Ltd., LAXNESS, Excel Industries Ltd, and PCC Rokita Spólka Akcyjna.
Asia-Pacific held the dominating position in phosphorus trichloride industry during the analysis period of 2023 to 2032.
Europe region exhibited fastest growing CAGR for market of phosphorus trichloride during the analysis period of 2023 to 2032.
The current trends and dynamics in the phosphorus trichloride industry include growing demand for phosphorus-containing mineral fertilizers due to population increase and urbanization, increasing usage in the production of agrochemicals and flame retardants, rising demand for phosphorus trichloride as a plasticizer in the manufacturing of plastics, and expansion of the worldwide chemical industry.
The chemical intermediates application expected to hold the maximum share of the phosphorus trichloride industry.