Industrial Phosphate Market anticipated to witness healthy CAGR over 2019-2024
Date: 2019-02-08   Author: Ronak Bora  Category: #market

Industrial Phosphate Market anticipated to witness healthy CAGR over 2019-2024

Asia Pacific has substantial share in Industrial Phosphate market owing to presence of China as major manufacturer of DNT. Additionally, growing demand of herbicides to meet food production for large population has improved its consumption. North America, led by the U.S. has significant share with presence of explosives market. Further, with presence of key players including Crescent Chemicals and Biddle Swayer Corporation will enhance its market share in forecast period. 

Europe has moderate share in Industrial Phosphate market with growing demand of thermal insulation in residential and commercial sector owing to stringent government regulations namely REACH, EnEV and European Commission. Well established and prevailing automotive industry with giant luxury automobile companies including Volkswagen and Audi enhances its contribution. Middle East & Africa and Latin America have nascent share growing mining activities.

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Industrial Phosphate Market will witness a significant growth due to its increasing applications in various industries including chemical, plastics, explosives and automotive. These are primarily used to manufacture polyurethane foams. In 2016, polyurethane foam industry was valued more than USD 1.8 billion with rise in demand from thermal insulation industry. Stringent government regulations namely International Energy Conservation Code (IECC) have supported energy conservation that is anticipated to propel Industrial Phosphate market. 

There has been growth in consumption of explosives in mining and industrial activities. Construction and mining activities have increased with rise in demand for metals and minerals. Enhanced tunnelling for railway and road transport to spread transportation network will increase explosive consumption. Explosives industry will register a CAGR over 6% till 2024 and expected to boost Industrial Phosphate market. 

It enhances the plasticity and viscosity of materials that has improved its utilization in plastic industry. These are used in manufacturing of air bags in automobiles. Demand for luxury cars namely Lexus and BMW have grown by over 15% in 2016 with increase in disposable income that has given a positive outlook to Industrial Phosphate market. 

Industrial Phosphate (DNT) is a solid crystalline organic compound with pale yellow colour and fabricated as precursor for toluene diisocyanate (TDI) and trinitrotoluene (TNT). TNT are one the most frequently used explosives. DNT is not found naturally and manufactured by mixing sulphuric and metric acid. It occurs in six polymers namely, 2,3 DNT, 2,4 DNT, 2,5 DNT, 2,6 DNT, 3,4 DNT and 3,5 DNT. 2,4 DNT and 2,6 DNT are its major forms and produced by nitration.

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Major restriction for Industrial Phosphate market is its toxicity. These are highly toxic and listed as hazardous by United States Environmental Protection Agency (USEPA) as th ey can lead to organ damage on exposure. It is difficult to meet stringent environmental pollution regulations as these lead to soil and water contamination. DNT have low volatility, less soluble in water and difficult to break down. Though, non-availability of any alternative will prove to be beneficial in longer run. 

On the basis of product, Industrial Phosphate market is classified as 2,3 DNT, 2,4 DNT, 2,5 DNT, 2,6 DNT, 3,4 DNT and 3,5 DNT. 2,4 DNT and 2,6 DNT account for major share with application as binder in explosives and to modify burn rate in propellants. These forms prevent coating over propellants that are soluble in coating solvents and enhance burning property without deteriorating chemical energy. Other forms have nascent contribution due to low utilization. 

Based on application, Industrial Phosphate market is categorized into automobile, chemical, plastics, explosives and herbicides industry. Chemical industry has major share with utilization in manufacturing TDI that is used to manufacture polyurethane foams. Strong demand for insulation in buildings and offices will drive product demand. Government regulations for energy efficient buildings and low carbon emissions have propelled consumption of polyurethane foams and in turn DNT. 

Explosives have substantial share in Industrial Phosphate market with growing consumption in industrial and mining applications and primarily used to manufacture TNT. These help in improving waterproof and gelatinizing properties in explosives and smokeless gun powders. It is used as an intermediate in production of dyes and herbicides. Herbicides industry is anticipated to register a CAGR above 6% till 2024 and expected to boost Industrial Phosphate market growth.

Industrial Phosphate market in highly consolidated with prominent players inclduing BASF, Crescent Chemicals, Biddle Swayer Corporation, Crescent Chemicals and Lanxess Corporation. Other players include, Health Chemicals Company, International Laboratory USA, Haihang Company, Sigma Aldrich and Panoli Intermediates. Companies including BASF are working in a forward integration manner to reduce overall manufacturing cost and to enhance the penetration.

 

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About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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