Global Hypophosphorous Acid Market Insights, Trends & Future Development Status Recorded during 2018
The MEA and Latin America Hypophosphorous Acid market are projected to register slow growth over the forecast period.
[ClickPress, Fri Jan 04 2019] Hypophosphorous Acid, molecular formula:- H3PO2, is a colourless phosphorus oxo-acid compound. Hypophosphorous Acid is act as a strong reducing agents. Generally, production of conventional hypophosphorous acid is carried out by a metathesis method or an ion exchange resin method. Hypophosphorous Acid is stable compound under normal condition, however, after heating it decomposes into phosphoric acid, hydrogen and phosphine compound. Generally, Hypophosphorous Acid are used as bleaching agent in synthetic fibers, plastics, and chemicals applications. Also, Hypophosphorous Acid Market and its derivative compounds i.e. hypophosphite salts such as calcium hypophosphite, magnesium hypophosphite, and sodium hypophosphite, among others, are prevalently used in synthesis of chemicals, pharmaceuticals, electroplating, and water treatments applications. Also, Hypophosphorous Acid is used as a decolorizing agent and stabilising agent in production of polymer and plastic compounds such as polyamides, nylon fibers, alkyd resins, polyacrilonitrile, polyester fibre, epoxies, and fatty acid esters, among others.
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Over the recent past, there has been significant growth in demand for Hypophosphorous Acid across the globe. This can be attributed to increasing demand from the chemicals, polymers and pharmaceutical industry. Rise in demand for Hypophosphorous Acid as chemical intermediates, supported by its increasing utilization for producing Hypophosphite Salts, phosphinic acid and decolourisation of several chemical, among others, have been the major driving factors responsible for its growth. Furthermore, healthy growth of the pharmaceutical industry in developing countries, such as India, China, and ASEAN countries, will be a prominent factor supporting its market growth. Moreover, increasing use of hypophosphorous acid as a bleaching agent, colour stabiliser and catalyst in production of polymer and plastic products is projected to bolster its market growth. However, the fluctuating prices of raw material have directly affected the prices of hypophosphorous acid as well. Hypophosphorous acid and its salts are mainly used as reducing agents in electroplating application. With technology advancement in electronics and defence industry, demand for high purity hypophosphorous acid and its salts was increased. However, conventional production method of hypophosphorous acid and its salts are unable to cater this requirements owing to which manufacturer are emphasizing on development of new production method. Thus, the development of cost effective manufacturing techniques for hypophosphorous acid will create new opportunities for the growth of market.
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The global hypophosphorous acid market is dominated by the Asia Pacific region (APAC), mainly by the China. In terms of production, significant share of global hypophosphorous Acid market is accounted by the China. With steady growth of end use industries such as polymer, Chemicals, pharmaceuticals and electronics industry, in China that in turn help to drive demand for the Hypophosphorous Acid market. Europe and North America collectively hold the second spot in terms of consumption. This growth in demand for Hypophosphorous Acid market is mainly attributed to the rising demand for bleaching and antioxidant agents in pharmaceutical and polymer industries in these region. However, government regulation in Europe and North America may effect on the growth of Hypophosphorous Acid markets. North America and Europe Hypophosphorous Acid market are expected to register steady growth which is supported by the steady growth of pharmaceutical industry in these regions, over the forecast period. The MEA and Latin America Hypophosphorous Acid market are projected to register slow growth over the forecast period.
Hypophosphorous Acid Market: Market Participants
Some of the major players identified across the value chain of the Global Hypophosphorous Acid market are Arkema Group, Hubei Lianxing Chemical Co., Ltd., Qingyuan RGDC Chemicals Co.,Ltd, Jiangsu Kangxiang Industrial Group Co., Ltd., Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd., NEEMCCO Pvt Ltd., Prasol Chemicals Pvt. Ltd., among others
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