The global phosphonate market is estimated to be USD 901.84 million in 2022, and is expected to grow at a CAGR of 4.58% during the forecast period.
Key Highlights 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 growth of the market.
Emerging applications of phosphonates in pro-drugs and nano-porous phosphonates are expected to provide new opportunities for the market studied.
Key Market Trends
Increasing demand in the water treatment industry
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; as HEDP is one type of scale inhibitor that can prevent scale and dirt.
Compared to other scale inhibitors, HEDP has many advantages such as; it provides excellent dirt resistance, low pollution, good dissolution, and good synergy
With increasing water requirements from the industrial sector and changing government regulations for the prevention of water pollution and control action plan have increased the demand for water treatment in recent years.
With rising water scarcity and less resources, the demand for water treatment is increasing globally, which will provide a huge market for Phosphonates in the forecast period.
Asia-Pacific to Dominate the Global Market
Asia-Pacific dominated the global market. With the increase in usage of water in the region countries such as China, India, and Japan, the consumption of phosphonat 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 agent, water treatment, oil field chemicals, cosmetics, building materials, and others.
Tiles and wood floorings are common in China, thus necessitating use of 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 supplier of detergent globally. In addition to this, 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.
Therefore, the aforementioned factors are projected to fuel the phosphonate market growth over the forecast period.
The global phosphonate market is fragmented in nature, with no player capturing a significant share in the market studied. The major manufacturers (not in any particular order) of the market include Italmatch AW, Shandong Taihe Water Treatment Technologies Co., Ltd., Zaozhuang Kerui Chemicals Co. Ltd., LANXESS and Zschimmer & Schwarz Mohsdorf GmbH & Co. KG among others.
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