COVID-19 Impact on Phosphonate Market
- The COVID-19 outbreak has affected the demand for phosphonate in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for phosphonate.
- The textile industry was badly affected during lockdowns. As everyone was stuck inside their homes, sales of clothes were hampered. In many regions, sales of non-essential goods such as clothes have been poor for many months during the pandemic. This adversely affected the demand for phosphonates.
- The COVID-19 outbreak has directly affected the production of phosphonate. Industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Phosphonate Market
- Rise in demand for phosphonate is directly linked to growth of various industries such as textile, water purification, pulp producing, and pharmaceutical. The pharmaceutical industry is expected to expand at a steady pace during the forecast period. Demand for antibiotics is increasing, due to the rise of diseases and population. Phosphonates are used in majority of antibiotics made for urinary tract infections. Furthermore, changing lifestyles and fashion trends, as well as people's proclivity for being trendy as these phosphonates are used in textile industry as bleach stabilizers, are likely to drive the phosphonate market throughout the forecast period.
- Phosphonate is also used for the cooling of water and desalination system as well as in oil fields to inhibit scale formation. They inhibit crystal growth and scale formation as are very stable under harsh chemical conditioners. Phosphonates are also used as peroxide bleach stabilizers. This makes them good chelating agents.
Phosphonate: End-use Segment
- Based on end-use, the phosphonate market can be segmented into medical, drug synthesis, pharmaceutical, chelating agents, and others
- Phosphonate is used in the chemical industry as a chelating agent to synthesize its derivatives. This increases its metal binding properties.
- Phosphonates and bisphosphonates are used in the pharmaceutical industry to manufacture medicines for the treatment of HIV, Hepatitis B, and sudden oak death
Restraints of Phosphonate Market
- The usage of phosphonates brings in the threat of toxicity upon exposure to it and its bisphosphonates. The National Institute for Occupational Safety and Health (NIOSH) in the U.S. has set some standards and rules for the use of such chemicals. This is expected to hamper the market in the near future.
Asia Pacific to Constitute Significant Share of Global Phosphonate Market
- In terms of region, the global phosphonate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is one of the largest markets for the pharmaceutical industry due to the presence of highly populated countries such as India and China. The agriculture industry is growing at rapid pace in China and India. Water purifiers are extensively used in India and China, where phosphate agents are used extensively.
Competitive Landscape of Global Phosphonate Market
The phosphonate market consists of various small, medium, and large players. Small and medium businesses are dominating the local markets, while the global market is currently witnessing fierce competition among several leading players. Key players operating in the phosphonate market include:
- Italmatch Chemicals S.p.A.
- Aquapharm Chemicals Pvt. Ltd.
- Zeel Networks, Inc
- Shandong Taihe Water Treatment Technologies Co., Ltd.
- Jianghai Environmental Protection Co. LTD.
- Excel Industries Ltd
Global Phosphonate Market: Research Scope
Global Phosphonate Market, by Product
Global Phosphonate Market, by End-use
- Drug Synthesis
- Chelating Agents
Global Phosphonate Market, by Region
- North America
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Phosphonate Market Introduction
- Phosphonate is an organophosphorus compound that is used in the production of bisphosphonates. Bisphosphonate is the most common and popular drug, which is used in the treatment of osteoporosis. It is used as stable bioisoteres for phosphate as anti-HIV therapy.
- Many natural phosphonates with antibiotic properties have been discovered. These are widely used in the manufacture of medicines, which fall under the category of antibiotics for killing bacteria. They are primarily used in curing urinary tract infections.
- Phosphonates are effective chelating agents. They are highly water soluble. Therefore, they are extensively used in water softening, cooling, and desalination of water.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.