Scienza e Tecnologia
Phosphonates Market to Garner $1.6 Billion, Globally, By 2031 at 5.98% CAGR, Says Allied Market Research
Rise in population and rapid urbanization led to shortage of potable water in both developed and developing countries, where phosphonates are widely used. This is prime driving factor for the growth of the global phosphonates market. In addition, increase in fashion consciousness, and adoption of western culture have fueled the growth of the textile sector, which has supplemented the demand for phosphonates. However, derivatives of phosphonates such as bisphosphonates are prescribed for osteoporosis diagnosed patients and several health-related issues due to prolonged use of bisphosphonates hinder the market. On the contrary, surge in severity of diseases and growth of pharmaceutical industry across the globe have are expected to open new opportunities in the future.
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By type, the HEDP segment held the lion's share in 2021, accounting for more than one-fourth of the global phosphonates market, and is expected to continue its leading position throughout the forecast period, due to the fact that HEDP type phosphonate acts as an excellent scale inhibitor, corrosion inhibitor, and complex chelating in various industries such as in detergents, water treatment, oilfield, and textile. However, the DTPMP segment is projected to portray the highest CAGR of 6.45% during the forecast period, due to rise in risk of waterborne disease and surged awareness about water purification application in both developed and developing countries.
By application, the chelating agents segment is anticipated is estimated to register the highest CAGR of 6.59% from 2022 to 2031. This is attributed to the fact that phosphonates acts as chemical additives to function as threshold antiscalants, sludge conditioners, corrosion inhibitors, and others. However, the water cleaner segment held the lion's share in 2021, contributing to more than one-fifths of the global phosphonates market. This is attributed to rapid urbanization, rise in industrialization, increase in human-induced activities such as building & construction activity, oil spillage, and others.
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By end use, the pharmaceutical segment held the largest share in 2021, accounting for more than one-fifth of the global phosphonates market, is estimated to continue its dominance throughout the forecast period. This is attributed to the fact that phosphonates have proven its pharmacological utility as inhibitors of enzymes that metabolize phosphate and pyrophosphate substrates. However, the water treatment segment is expected to showcase the highest CAGR of 6.67% from 2022 to 2031. This is attributed to increase in scarcity of potable water which in turn has surged the water treatment activities where phosphonates are used as corrosion inhibitor to prevent metal dissolution from water pipe into treated water.
By region, the global phosphonates market across Asia-Pacific held the largest share in 2021, accounting for nearly two-fifths of the market. Furthermore, the market across Asia-Pacific is anticipated to register the highest CAGR of 6.15% during the forecast period, due to rapid growth of pulp & paper manufacturing sector and textile sector in developing countries such as China and India .
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