Phosphonate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Phosphonate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global phosphonate market is estimated to be USD 879.09 million at the end of the year and is expected to grow at a CAGR of over 4% during the forecast period.

The COVID-19 pandemic impacted the market negatively, severely affected international trade, and hampered several industries, including manufacturing, building, and construction. However, the market has now been estimated to have reached pre-pandemic levels.

• Wide applications of phosphonates in the water treatment industry and rapid growth of the cleaners and detergents industry are the major factors driving the demand for the market studied.
• On the flip side, environmental impact due to its non-degradable nature is expected to hinder the market's growth.
• Emerging applications of phosphonates in pro-drugs and nano-porous phosphonates are expected to provide new opportunities for the market studied.
• Asia-Pacific region is expected to dominate the market across the world, with the majority of demand coming from China and India.

• Chemical water treatment is a chemical technique that uses chemicals to eliminate and prevent scaling, reduce corrosion, kill bacteria and algae, and purify water. There are three main types of water treatment chemicals: flocculants, biocides, and scale inhibitors.
• HEDP phosphonate is commonly used as a chemical additive in various industrial water treatment processes; HEDP is one type of scale inhibitor that can prevent scale and dirt.
• Compared to other scale inhibitors, HEDP has many advantages: it provides excellent dirt resistance, low pollution, good dissolution, and good synergy.
• Increasing water requirements from the industrial sector and changing government regulations to prevent water pollution and control action plans have increased the demand for water treatment in recent years.
• With rising water scarcity and fewer resources, the demand for water treatment is increasing globally, which will provide a huge market for phosphonates in the forecast period.

• Asia-Pacific dominates the global market. With the increase in water usage in countries such as China, India, and Japan, the consumption of phosphonate is increasing in the region.
• The phosphonate market is anticipated to witness growth in China owing to the increasing product demand in industries such as detergent and cleaning agents, water treatment, oil field chemicals, cosmetics, building materials, and others.
• Tiles and wood floorings are common in China, thus necessitating high-quality floor cleaner products in the wake of rising COVID-related hygiene awareness. Such trends are projected to boost the demand for detergent and cleaning agents in the country.
• India is one of the largest producers and suppliers of detergent globally. In addition, the demand for fabric detergents in India is mainly driven by the rising penetration of washing machines. This, in turn, has been increasing the demand for the market in India.

The global phosphonate market is fragmented in nature, with no player capturing a significant share of the market studied. The major manufacturers (not in any particular order) of the market include Italmatch AW, Shandong Taihe Water Treatment Technologies Co., Ltd., Biesterfeld AG, LANXESS, and Zschimmer & Schwarz Mohsdorf GmbH & Co. KG, among others.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support