COVID-19 Impact on Triethyl Phosphite Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the triethyl phosphite market.
Key Drivers and Restraints of Triethyl Phosphite Market
- Triethyl phosphite is used as an intermediate in the manufacture of different products such as flame retardants, optical brighteners, pesticides, antioxidants, and pharmaceuticals
- Rise in demand for flame retardants in various end-use industries, such as electrical & electronics, transportation, and construction, is anticipated to drive the triethyl phosphite market. These industries are increasingly using flame retardant-based materials to meet the fire safety and prevention regulations. This is boosting the global triethyl phosphite market.
- Triethyl phosphite is used as an intermediate in the manufacture of pesticides. Rise in demand for pesticides such as fungicides, herbicides, and insecticides that are used in agriculture to control crop-harming organisms is expected to propel the demand for triethyl phosphite.
- Triethyl phosphite is listed as hazardous substance by the U.S. Department of Transportation. Stringent government regulations and rise in environmental concerns regarding the disposal of hazardous and toxic chemicals are expected to hamper the triethyl phosphite market in the near future.
Triethyl Phosphite: Application Segment
- Based on application, the global triethyl phosphite market can be segmented into flame retardants, pesticide intermediates, plasticizers, optical brighteners, lubricant additives, pharmaceuticals, and others
- The flame retardants segment is projected to gain higher share of the global market during the forecast period. Various fire standards in different end-use industries and regulations regarding the safety system are driving the demand for flame retardants. This, in turn, is projected to boost the global market for triethyl phosphite in the next few years.
- The optical brighteners segment is also projected to hold key share of the global triethyl phosphite market in the near future. Optical brighteners are used in papers for making them brighter and whiter. Optical brighteners are also used in detergents and soaps for whitening of textiles. They are also used in plastics to improve colors and make plastic look whiter and brighter. Rise in population and increase in demand for optical brighteners are projected to propel the global triethyl phosphite market during the forecast period.
Asia Pacific to Hold Leading Share of Triethyl Phosphite Market
- In terms of region, the triethyl phosphite market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold the major share of the global triethyl phosphite market, followed by North America and Europe, during the forecast period. Rise in demand and production of plasticizers in China, Japan, and India is expected to create lucrative opportunities for the market in the region during the forecast period.
- Europe also holds key share of the global triethyl phosphite market. Germany is expected to be the major country of the triethyl phosphite market in the region during the forecast period.
- The triethyl phosphite market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Triethyl phosphite is imported into countries such as Brazil, Mexico, and South Africa, due to limited presence of manufacturing companies in these countries. Increase in government expenditure on various end-use industries is likely to drive the demand for triethyl phosphite in these regions in the next few years.
Key Manufacturers Operating in Triethyl Phosphite Market
The triethyl phosphite market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the triethyl phosphite market include:
- Jilin Yonglin Chemical
- Merck Millipore
- Jiangsu Renhang Pharmaceutical
- Johoku Chemical
- Hubei Sancaitang Chemical
Triethyl Phosphite Market: Research Scope
Triethyl Phosphite Market, by Grade
Triethyl Phosphite Market, by Application
- Flame Retardants
- Optical Brighteners
- Lubricant Additives
- Pesticide Intermediates
Global Triethyl Phosphite Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Triethyl Phosphite: Introduction
- Triethyl phosphite is used as a ligand in organometallic chemistry and as reagent in organic synthesis
- Triethyl phosphite is air and moisture sensitive. It is incompatible with strong oxidizing agents and strong bases. It is miscible with alcohol and ether, while it is immiscible with water.
- Triethyl phosphite can react with electrophiles to form phosphonates or phosphates. Triethyl phosphite forms a stable complex with copper(I) iodide.
- Trimethyl phosphite is a colorless liquid with a pungent odor. It is used in making pesticides, flame retardants, and organophosphorous additives.
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