The Calcium Hypophosphite Market is estimated to be valued at US$ 225.4 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Calcium hypophosphite is an inorganic phosphorus compound commonly used as a flame retardant and stabilizer in various industries such as plastics, textiles, coatings, and construction materials. It acts as a reducing agent and releases phosphate when heated, which forms a protective char layer that shields the underlying material from heat and flames. It is also utilized as an intermediate in the production of other phosphorus compounds and as an additive in animal feed.
Market Dynamics:
Two major drivers for the growth of the calcium hypophosphite market are the increasing demand for flame retardants from various industries and stringent fire safety regulations worldwide. The rapid industrialization and growing construction sector have boosted the use of polymers, plastics, and composites in several applications which require effective flame retardants for fire protection. Moreover, evolving fire safety norms by regulatory bodies mandate the use of flame retardant materials in industries such as electronics, automotive, aerospace, and more, thereby fueling the demand for calcium hypophosphite. Additionally, rising disposable incomes in developing regions have led to higher demand for consumer goods whose manufacturing involves flame retardants, thus benefitting market growth over the forecast period.
Segment Analysis
Global Calcium Hypophosphite Market is segmented on the basis of application and end use industry. Based on application, the market is dominated by agrochemical segment, which accounts for more than 60% share of the total market. Calcium hypophosphite acts as an agricultural fungicide and helps control diseases in fruits, vegetables and other crops. It is also used as fertilizer supplement for crops.
PEST Analysis
Political: The government regulations regarding the use of agrochemicals are getting stricter over time due to environmental concerns. This can hamper the demand from agrochemical application.
Economic: The global economy is recovering post-pandemic which is positively impacting the agrochemical and other end-use industries, thereby driving the demand for calcium hypophosphite.
Social: Increasing population and demand for food is augmenting the use of fungicides and fertilizers in agriculture. This is benefiting the calcium hypophosphite market.
Technological: Manufacturers are focusing on developing more effective and environment-friendly formulations of calcium hypophosphite to comply with stringent regulations.
Key Takeaways
The global calcium hypophosphite market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from agrochemical industry. The market size for 2023 is estimated to be US$ 225.4 Mn.
Regional analysis: Asia Pacific dominates the global market and is expected to maintain its leading position during the forecast period owing to large agricultural base in nations like India and China. The region accounts for over 40% of the total calcium hypophosphite consumption globally.
Key players operating in the calcium hypophosphite market are Solvay SA, Nippon Chemical Industrial Co., Ltd., Hubei Xingfa Chemicals Group Co., Ltd., Sigma-Aldrich (Merck KGaA), LANXESS AG, Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd., Nantong Xinbang Chemical Technology Chemical Co., Ltd., Triveni Chemicals, HBCChem, Inc., TCI Chemicals (Tokyo Chemical Industry Co., Ltd.), American Elements, Shanghai Worldyang Chemical Co., Ltd., Alfa Aesar (Thermo Fisher Scientific Inc.), Finetech Industry Limited, Shanxi Lanhua Sci-Tech Venture Co., Ltd. The key players are focusing on capacity expansion to cater to increasing demand.
Read More: https://www.rapidwebwire.com/calcium-hypophosphite-market-scope/
Allied Market Research published an exclusive report, titled, “Sodium Hypophosphite Market: Global Opportunity Analysis and Industry Forecast 2020-2027”.
Moreover, it includes recent industry developments including prime market mergers & acquisitions, new product launches, partnerships and collaborations, and market expansion.Get Detailed Analysis of COVID-19 Impact on Sodium Hypophosphite Market @https://www.alliedmarketresearch.com/request-for-customization/8037?reqfor=covidThe Sodium Hypophosphite industry report includes growth factors of the market along with major challenges and restraining factors that might hinder the market growth.
This analysis aids new market entrants and existing manufacturers to prepare for future challenges and take advantage of opportunities to strengthen their market position.
Access Full Summery @ https://www.alliedmarketresearch.com/sodium-hypophosphite-market-A07672v Prime Benefits:The report includes Porter’s Five Forces analysis to understand the ability of buyers and suppliers to allow business investors to make strategic decisions.The study offers a detailed analysis of the ongoing market trends, market size, and forecast of the Sodium Hypophosphite market during the period 2020-2027.The report includes the potential of the market across various regions along with revenue contribution.The study provides an in-depth analysis of the major market players in the Sodium Hypophosphite market.
Request For Customization @https://www.alliedmarketresearch.com/request-for-customization/8037Major Offering of the Report:Major impacting factors: An in-depth analysis of driving factors, upcoming opportunities, and challenges.Ongoing trends & forecasts: A thorough study in recent market trends, happenings, and forecasts for the next few years to take a strategic, informed decision.Segmental analysis: A detailed analysis of each segment and driving factors coupled with growth rate analysis.Regional analysis: Insights on the market potential across each region to enable market players to leverage market opportunities.Competitive landscape: An in-depth analysis of every key market player active in the Sodium Hypophosphite market.
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