The calcium hypophosphite market is estimated to be valued at US$ 225.4 Mn 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 compound used mainly as a flame retardant and fungicide. It is used as a flame retardant in wood products, plastics, polymers, and textiles. It prevents spontaneous combustion by reacting chemically with fire to form a protective layer over the material’s surface.
Market Dynamics:
The Calcium Hypophosphite Market Growth is attributed mainly to two key drivers –
Increased use of calcium hypophosphite as a flame retardant in a variety of applications such as furnishings, coatings, polymers due to stringent fire safety regulations across industries. It provides effective protection against combustion by generating an insulating char layer when exposed to fire or heat.
Higher demand from the agriculture sector as a fungicide for crops. Calcium hypophosphite acts as an effective fungicide due to its antibacterial and antifungal properties. It is used to control various fungal diseases in crops.
SWOT Analysis
Strength: Calcium hypophosphite has wide application in food, agriculture and chemical industries. It is stable and easy to transport. It acts as an effective fungicide for agriculture. Manufacturers have well established supply chains for smooth distribution.
Weakness: Strict regulations regarding the usage of calcium hypophosphite can restrict its demand. Fluctuations in raw material prices pose challenges.
Opportunity: Growing zinc, copper and lead production drives the need for calcium hypophosphite as a cleaning agent. Increasing agricultural output in Asia Pacific boosts its demand as a fungicide.
Threats: Availability of alternative products can hamper the market growth. Economic slowdowns affect the end use industries.
Key Takeaways
Global Calcium Hypophosphite Market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from chemical and agriculture industries. Asia Pacific dominates the market currently owing to large agricultural sector and high zinc production.
Regional analysis
Asia Pacific accounts for over 40% of the global calcium hypophosphite market share currently due to large agricultural activities in China and India. Countries like China, India, Japan and South Korea are major consumers. North America and Europe follow Asia Pacific in terms of consumption.
Key players
Key players operating in the calcium hypophosphite market include 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Priya Pandey
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor’s degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya’s meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. LinkedIn Profile