Phosphonates Market Analysis and Forecast to 2031: By Type (ATMP, HEDP, DTPMP, BHMT, Others), Application (Water Cleaner, Scale Inhibitors, Bleach Stabilizer, Chelating Agents, Concrete Additives, Others), End User (Water Treatment, Pharmaceutical, Textile, Oil and Gas, Pulp and Paper, Agriculture, Others), and Region
The global phosphonates market was valued at US$ 0.9 billion in 2021 and it is anticipated to grow up to US$ 1.6 billion by 2031, at a CAGR of 5.9% during the forecast period.
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.
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.
Global Phosphonates Market Segmental Overview
The report analyses the global phosphonates market based on type, application, end user, and region.
Global Phosphonates Market by Type
Based on type, it is segmented into ATMP, HEDP, DTPMP, BHMT, and others. The HEDP segment is expected to have the largest phosphonates market share in 2021. This is attributed to the fact that HEDP type phosphonates acts as an excellent scale inhibitor, corrosion inhibitor, and complex chelating in various industries such as in detergents industry, water treatment industry, oilfield, textile industry, and others. In addition, HEDP prevents the formation of insoluble sulfate and carbonate deposits, which makes it an ideal chemical for reducing hard coating on fabric. Due to multiple benefits, the HEDP segment is expected to receive the main market attraction resulting in market growth.
Global Phosphonates Market by Application
Based on application, it is segmented into water cleaner, scale inhibitors, bleach stabilizer, chelating agents, concrete additives, and others. The chelating agents segment is expected to dominate the market during the forecast period. In medicine, chelating agents are used to remove toxic metals from the body. They are also being studied in the treatment of cancer. Due to the abovementioned factors, the chelating agents segment are expected to dominate the market during the forecast period.
Global Phosphonates Market by End User
Based on end user, it is segmented into water treatment, pharmaceutical, textile, oil and gas, pulp and paper, agriculture, and others. The pharmaceutical segment is expected to be the largest segment in the phosphonates market in 2021. This is attributed to the fact that phosphonates have proven its pharmacological utility as inhibitors of enzymes that metabolize phosphate and pyrophosphate substrates. They are widely used to treat bone resorption disorders, anticancer targets, and other therapeutic applications. Moreover, phosphonate nucleotides such as cidofovir, tenofovir, and adefovir are critical antiviral medications used for the treatment of HIV and hepatitis B. Thus, the pharmaceutical segment will likely hold a major market share in 2021.
Geographical Analysis of Global Phosphonates Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021. China's pulp & paper manufacturing sector, which has forced the phosphonates manufacturers to produce more efficient condensed phosphates used in paper coating and filling to promote the dispersion of kaolin clay, lithopone, titanium dioxide, and iron oxide during paper manufacturing. Furthermore, the textile sector in India is witnessing a significant growth, owing to increasing increase in fashion consciousness among people where phosphonates are used as stabilizers for peroxide bleaching and textile dyeing applications. This, in turn, boosts the demand for phosphonates in the Asia Pacific region.
Major Players in the Global Phosphonates Market 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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