Phosphorus trichloride Market Analysis
Phosphorus trichloride is a white with a yellow colored chemical compound of phosphorus and chlorine. The product is majorly used as a chemical intermediate and is a precursor to the formation of various chemicals such as phosphorus pentachloride (PCl5), phosphoryl chloride (POCl3), and thiophosphoryl chloride (PSCl3).
The global phosphorus trichloride market is primarily driven by growing demand from its major application such as chemical synthesis, agrochemicals, gasoline additives, plastic stabilizers, pharmaceuticals, and others. The chemical synthesis and agrochemicals segment are together driving the growth of the global phosphorus trichloride market. Phosphorus trichloride is used as a chemical intermediate in the production of organophosphonates, which are used as cleaners, chelating agents, corrosion inhibitors, and anti-scaling agent for water treatment, which is likely to propel the market growth.
The increasing population along with their increasing consumption of food and the lack of arable land drive the need for agrochemicals, which, in turn, fuels the phosphorus trichloride market growth. Further, the use of phosphorus trichloride in the production of gasoline and oil additives is projected to surge the market growth due to the demand for efficient and qualitative fuel from the transportation and automotive sectors.
Additionally, it is also used as a plasticizer and is a raw material to the drug used for prevention of heart and sexually transmitted diseases, which may fuel the market growth in the coming years.
Top Key Players
Some of the prominent manufacturers in the global phosphorus trichloride market are Monsanto Company (the U.S.), Solvay (Belgium), Merck KGaA (Germany), LAXNESS (Germany), PCC Rokita (Poland), ICL (Israel), SANDHYA GROUP (India), Alfa Aesar, Thermo Fisher Scientific (the U.S.), Parchem fine & specialty chemicals (New York), and Xuzhou Jianping Chemical Co., Ltd (China).
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The global phosphorus chloride market is segmented into five major regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific is expected to dominate the global phosphorus trichloride market due to the high demand for chemical and agrochemical industries. The use of phosphorus trichloride in the manufacturing of fertilizers, insecticides, and pesticides is the major driver of the market in this region owing to the need for better crop productivity and high yield.
The high demand for phosphorus trichloride from robust chemical industries drives the market in the North American region. Furthermore, the demand for pharmaceuticals in the U.S. drives the market growth positively.
The chemicals and plastics & polymers industries are the major driver of the phosphorus trichloride market in the European region.
The Latin American market is driven by the increased product demand for manufacturing plasticizers with Brazil and Argentina being the major countries.
Lastly, the Middle East & Africa is anticipated to showcase a significant growth on account of the increasing demand for agrochemicals and pesticides.
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