Phosphorus is commonly present in white and red forms in nature. Phosphorus and its derivatives are used in batteries, water treatment chemicals, flame retardants, fertilizers, detergents, metal finishing, and others. In terms of demand, fertilizers is the largest application segment of the phosphorus& derivatives market. Key derivatives of phosphorus include industrial phosphates, ammonium phosphate, phosphorus chloride, phosphoric acid, phosphorus pentasulfide, phosphorus pentoxide, and others. In terms of demand, ammonium phosphate held the largest share of the global phosphorus and derivatives market. This product segment was followed by industrial phosphate and purified phosphoric acid. A similar trend is expected to continue in the near future due to high demand for ammonium phosphate in fertilizers application.
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Rising population and increasing demand for food is expected to drive the phosphorus & derivatives market. Phosphorus derivatives such as ammonium phosphate are widely used in the manufacture of fertilizers in the agriculture industry. Rising food security concern is driving demand for fertilizers in improving crop yield. This, in turn, would fuel demand for phosphorus-based fertilizers across the globe.The world population is likely to grow at a steady pace in the near future. Hence, demand for food is estimated to increase tremendously. This, in turn,is projected to drive the fertilizers market to increase crop yield. Additionally, shift toward non-halogenated flame retardants from halogenated flame retardants is anticipated to fuel the phosphorus& derivatives market. Furthermore, rising demand from end-user industries such as metal finishing, water treatment, and food is expected to drive demand for phosphorus & derivatives across the globe.
The usage of phosphorus in detergents has been restricted due to government regulations...