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Pharmacy benefit management market
REPORT OVERVIEW
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The global yellow phosphorus market size was 3886.84 million in 2021. As per our research, the market is expected to reach USD 4715.0 million by 2027, exhibiting a CAGR of 3.27% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with yellow phosphorus experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Yellow phosphorus, also known as white phosphorus, is a highly reactive non-metallic element with a waxy, white-to-yellow appearance. It is most famous for its historical use in manufacturing matches and explosives, but its extreme reactivity and toxicity have led to strict regulations and a decline in its use in consumer products. Yellow phosphorus can spontaneously ignite upon exposure to air, making it extremely dangerous and requiring special storage precautions.
Its toxicity can cause severe health effects if ingested, inhaled, or absorbed through the skin. In response to these hazards, safer forms of phosphorus, such as red phosphorus, are commonly used in various applications, including safety matches and the semiconductor industry. Nevertheless, yellow phosphorus continues to find use in specific industrial processes, where its reactivity and reducing properties are required, such as in the production of phosphoric acid and other phosphorus compounds.
COVID-19 IMPACT : Price Volatility to Hamper Demand Significantly
COVID-19 had a life changing impact globally. The yellow phosphorus market growth was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for yellow phosphorus share experienced a reduced demand.
The pandemic disrupted global supply chains, affecting the production and transportation of raw materials and chemicals. If the supply chain for phosphorus-related materials or chemicals was disrupted, it could have indirectly impacted the production of yellow phosphorus. Economic slowdowns and lockdowns in various countries may have led to changes in industrial demand for phosphorus compounds and products, which could have affected the overall demand for yellow phosphorus.
Fluctuations in supply and demand, combined with economic uncertainty, can lead to price volatility in commodity markets. This volatility may have affected the cost of yellow phosphorus and related products. Movement restrictions and health safety measures during the pandemic may have presented logistical challenges for companies involved in the phosphorus industry, potentially impacting production and distribution. The market is anticipated to boost the yellow phosphorus market growth following the pandemic.
LATEST TRENDS
"Phosphorus Recovery to Broaden Market Growth"
Research may focus on developing technologies for the recovery and recycling of phosphorus from various waste streams, including wastewater and agricultural runoff, to address phosphorus resource sustainability. While yellow phosphorus itself has limited technological applications, research into phosphorus compounds, such as phosphorus-based catalysts and materials, continues in areas like the chemical industry and semiconductor manufacturing.
Phosphorus is an essential element for agriculture, and there is growing interest in developing more sustainable phosphorus sources or recycling methods to reduce reliance on finite reserves of phosphate rock. As environmental regulations become stricter, there could be ongoing research into minimizing the environmental impact of phosphorus-related industrial processes and waste disposal. Research and development efforts may focus on developing safer handling and storage methods for yellow phosphorus to mitigate its extreme reactivity and toxicity. These latest developments are anticipated to boost the yellow phosphorus market share.
SEGMENTATION
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- By Type
Based on type, the market is divided into Industrial Grade and Food & Pharma Grade.
Industrial Grade holds a major share of the global market.
- By Application
Based on application, the market is bifurcated into Thermal phosphoric acid, Phosphorus trichloride, and Others.
Thermal phosphoric acid as application holds a major share of the global market.
DRIVING FACTORS
"Semiconductor Industry to Boost Market Share"
Phosphorus compounds are used in the semiconductor industry for doping silicon and producing phosphorus-based materials for electronic components. As the demand for electronics and technology continues to grow, so does the demand for phosphorus in semiconductor manufacturing. Yellow phosphorus is used as a raw material in various industrial chemicals, including phosphoric acid, which has applications in the production of detergents, food additives, and beverages. The demand for these products in the manufacturing and food processing industries drives the production of yellow phosphorus. These factors are anticipated to drive the yellow phosphorus market growth.
"Water Treatment to Boost Market Growth"
Phosphorus compounds are employed in water treatment processes to remove impurities and control the growth of algae in bodies of water. The need for clean and safe drinking water contributes to the demand for yellow phosphorus in this sector. Research is ongoing to develop advanced energy storage systems like lithium-ion batteries, and phosphorus compounds are being explored for use in electrode materials, potentially increasing the demand for phosphorus in energy storage applications. These factors are anticipated to drive the yellow phosphorus market share.
RESTRAINING FACTORS
"Toxicity and Safety Concerns to Hamper Market Share"
Yellow phosphorus is highly toxic and poses significant health and safety risks. Its reactivity with air and its ability to spontaneously ignite make it challenging to handle, store, and transport safely. These safety concerns can limit its use and lead to strict regulations governing its production and handling. The production and use of yellow phosphorus can have adverse environmental impacts, particularly when phosphorus-containing compounds enter water bodies, contributing to nutrient pollution and harmful algal blooms. Stricter environmental regulations aimed at mitigating these effects can impact the phosphorus industry. The factors are anticipated to hinder the growth of the yellow phosphorus market growth.
REGIONAL INSIGHTS
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"Asia Pacific Dominates the Yellow Phosphorus Market "
Asia Pacific is the major shareholder for the yellow phosphorus market size. The region has been a major shareholder in the yellow phosphorus market. The region has a substantial agricultural sector with a high demand for phosphorus fertilizers to support crop production. APAC’s industrial and chemical sectors also drive significant demand for yellow phosphorus as a raw material in various chemical processes. The countries large population and agricultural activities contribute to its role as a key consumer and producer of yellow phosphorus.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Bayer (Monsanto) [Germany]
- Mianyang Jinchuan Phosphorus Chemical Co., Ltd [China]
- Mianyang Aostar Phosphorus Chemical Industry Co., Ltd. [China]
- Jiangsu Chengxing Phosph-Chemicals Co., Ltd [China]
- Kazphosphate LLC [Kazakhstan]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3886.84 Million in 2021 |
Market Size Value By |
US$ 4715 Million by 2027 |
Growth Rate |
CAGR of 3.27% from 2021 to 2027 |
Forecast Period |
2021-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the yellow phosphorus market expected to touch by 2027?
The global yellow phosphorus market share is expected to reach USD 4715.0 mbillion by 2027.
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What CAGR is the yellow phosphorus market expected to exhibit by 2027?
The yellow phosphorus market is expected to exhibit a CAGR of 3.27% by 2027.
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Which are the driving factors of the yellow phosphorus market?
Semiconductor Industry and Water Treatment are drivers of this yellow phosphorus market.
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Which are the top companies operating in the yellow phosphorus market?
Bayer (Monsanto), Mianyang Jinchuan Phosphorus Chemical Co., Ltd, Mianyang Aostar Phosphorus Chemical Industry Co., Ltd., Jiangsu Chengxing Phosph-Chemicals Co., Ltd, and Kazphosphate LLC are key companies operating in the yellow phosphorus market.