LOS ANGELES, May 22, 2019 (GLOBE NEWSWIRE) -- The Global Phosphorus Trichloride Market is estimated to grow at CAGR above 5 % over the forecast time frame 2019-2026 and reach the market value around USD 2.2 billion by 2026.
Increased demand in the manufacture of herbicides and pesticides in the agrochemical sector drives the global phosphorous trichloride market. Asia Pacific is a world leader in phosphorus trichloride, given high demand in the region for agrochemicals.
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Phosphorus Trichloride is used as a medium pesticide. In organophosphorus pesticides like glyphosate this compound is used largely. The active ingredient of different herbicides, insecticides and fungicides is glyphosate. A dominant share of the global phosphorus trichloride market was held in 2018 in the sector of agrochemical applications. In order to respond to the high demand in agricultural products, the rising population will require better farming efficiency. Additional subsidies were implemented by governments of countries such as India, to reduce the cost burden on farmers for pesticides.
Raw Material Prices Increase Hamper Market
The energy needed to extract and process phosphate rock and produce phosphate fertilizers is generally derived from fossil fuels. The result is further emissions of greenhouse gas (GHG), reduced fossil fuels and pollution. As the non renewable and weakening resources are both fossil fuel and phosphorus, processing costs and thus processed phosphorus are expected to increase in the coming years. In the near future therefore, an increase in prices of phosphorus is expected to seriously impair the world market for phosphorus trichlorides.
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Pure Grade Segment to Govern Global Market
The phosphorus concentration of pure grade phosphorus trichloride is 96–99 %. It is the most used degree of trichloride phosphorus. A leading part of the world phosphorus trichloride market was the pure grade segment in 2018. During the forecast period, the segment continues to prevail. The analytical grade reagent segment is a minor part of the global market in terms of demand. In addition, due to its high purity, this grade phosphorus trichloride is expensive. In light of the increase in R&D activities for phosphorus trichloride use in pharmaceutical applications, the grade segment for analytical reagents is expected to expand at a quick pace during the forecast period.
Application Stance
In 2018, the agrochemicals segment held a leading role in the global phosphorus trichloride market and is expected to remain in the forecast period. During the forecast period, the agrochemicals segment is likely to attract the crop rate due to the increase in pesticide and herbicides consumption worldwide. Also estimated in the forecast period are plasticizers and phosphorus oxychloride applications for the global phosphorus trichloride market. Plasticizers are used to improve the properties of plastics as plastic additives.
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Regional Stance
In 2018, Asia-Pacific was the world's leading region. As a result of increasing demand for phosphorus trichloride in the agri-chemical sector in the region, phosphorus trichloride markets in Asia-Pacific are expanding in value and volume. Europe and North America were a major part of the global phosphorus trichloride market in 2018 with regard to demand. As the market in the region has matured, demand for phosphorus trichloride should rise at a slow pace during the forecast period. The demand for North American phosphorus trichloride is expected to rise moderately over the forecast time due to moderate use of phosphorus trichloride in the region's agro-chemical and pharmaceutical industries.
Key Players & Strategies
The phosphorus trichloride market is fragmented. In the market are there are numerous large as well as medium-sized manufacturers. Mosaic, Monsanto, Syngenta, Solvay SA and Akzo Nobel N.V are the main players operating on the market. Most players prefer phosphorus trichloride captive consumption. The company overview, business strategies and latest developments have profiled market players.
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