Phosphonates Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Phosphonates Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Phosphonates Global Market Report 2024, The phosphonates market size has grown strongly in recent years. It will grow from $1.17 billion in 2023 to $1.27 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to water treatment applications, booming agriculture sector, industrial processes, increased construction activities, oilfield chemicals.

The phosphonates market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to focus on sustainable agriculture, expansion of industrial activities, booming construction sector, increasing focus on wastewater treatment, rising demand in the pharmaceuticals industry. Major trends in the forecast period include increasing agricultural practices, expanding oil and gas industry, surge in demand for biodegradable products, technological advancements in production methods, increasing focus on product innovation, global economic trends..

Increasing demand for phosphonates in the construction industry is expected to propel the growth of the phosphonates market going forward. Construction refers to an activity of putting together various elements to create a structure for a specific location, using a detailed design and plan. Phosphonates play a vital role in the construction industry used as concrete retarders, chelating agents, and scale inhibitors due to their versatile properties and applications, these versatile compounds find valuable use in several critical areas, where their unique properties contribute to durability, safety, and sustainability of infrastructure projects. For instance, in June 2021, according to the Stats NZ Tauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to the US Census Bureau, The value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2 percent. Therefore, an increasing demand for construction activities drives the phosphonates market.

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The phosphonates market covered in this report is segmented –

1) By Type: Amino Trimethylene Phosphonic Acid(ATMP), Hydroxyethylidene Diphosphonic Acid (HEDP), Diethylene Triamine Penta Methylene Phosphonic Acid(DTPMP), Bis Hexamethylene Triamine (BHMT), Other Types

2) By Application: Water Cleaners, Scale Inhibitors, Bleach Stabilizer, Chelating Agents, Concrete Additives, Other Applications

3) By End User: Water Treatment, Pharmaceutical, Textiles, Oil And Gas, Pulp And Paper, Agriculture, Other End Users

Major companies operating in the phosphonates market are developing innovative products with THOR’s phosphonates AFLAMMIT technologies to provide reliable services to customers. Phosphonates AFLAMMIT technologies are a specialized group of fire retardant and flame-resistant technologies that incorporate phosphonates as a key component in their formulation and play a crucial role in enhancing the fire resistance of treated substances. For instance, in July 2022, BASF, a Germany-based chemical company in partnership with THOR GmbH, a Germany-based company that offers phosphonates to provide customers with a comprehensive solution in non-halogenated flame retardant additives that would enhance the sustainability and performance for specific plastic compounds meeting stringent fire safety requirements. Customers and end-users benefit from the combined expertise in flame retardant additives, which highlights the synergistic benefits of BASF’s halogen-free flame retardant Flamestab and THOR’s phosphonates AFLAMMIT technologies for polyolefins, which is typically a difficult flame resistance application.

The phosphonates market report table of contents includes: