Phosphonates Market Growth Analysis, Global Report 2023-2032

As per a new Global Market Insights Inc., study, the global phosphonates market size  is slated to surpass USD 2.2 billion by 2032. Increasing demand from the water treatment, construction, pharmaceuticals, oil & gas, and textile industries are pegged to drive the market revenues. In addition, growing product usage in the paper and pulp industry is also likely to bolster the industry growth graph through the analysis timeline.

Global phosphonates market is set to foresee strong revenues from novel opportunities created by rising infrastructure development projects, new drug discovery initiatives, and increasing water scarcity challenges. phosphonates are commonly used across a plethora of industry verticals owing to their special chemical structure, which makes it considerably easy to work with. The market is particularly projected to witness noteworthy gains from the pharmaceuticals and construction sectors, which both are experiencing a post-pandemic boom.

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Outlined below are three key application avenue trends fueling phosphonates market size:

1. Strong concrete demand from post-pandemic infrastructure development initiatives

Surging infrastructure development initiatives in the wake of the COVID-19 pandemic is creating a significant demand for concrete and concrete mixes across the globe, which is subsequently fueling the adoption of phosphonates. The material, which is a type of salt from the phosphonic acid family, is commonly mixed with concrete as a retarder that effectively delays the setting time for cement, giving workers more time to apply and mould the same.

Several world governments are making heavy investments in their healthcare and public infrastructure to kickstart their economies, which have been laying dormant due to the COVID-19 slump. According to the Asian Development Bank, developing the Asian continent will require annual infrastructure investments to the tune of $1.7 trillion until 2030. This will allow the region to retain its growth momentum, respond to climate change, and tackle poverty.

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2. Novel revenue opportunities from the pharmaceuticals sector

While the effects of the COVID-19 pandemic have been far-reaching, the change it has brough to the pharmaceuticals sector has been fundamental. Before the pandemic, the end-to-end timeframe to bring drug and vaccine candidates from discovery to testing to market took an average of 10 to 15 years, sometimes even more. However, that paradigm was shifted when the coronavirus made apparent how imminent the threat of pandemics.

In drug development, phosphonates are commonly utilized as inhibitors of enzymes that use diphosphates and phosphates as substrates. As per studies, the expedited drug development model innovated by pharma companies such as Pfizer can be applied to find cures for other diseases. This new model is creating a surging demand for phosphonates.

3. Surging product demand from water treatment initiatives

As climate change tightens its grip on the planet, the issue of water scarcity is fast becoming a major concern for countries. According to UNICEF, currently more than four billion people, which makes up approximately two thirds of the globe’s population, lack access to clean drinkable water for at least a month every year. Approximately 700 million individuals face displacement due to acute scarcity of water by 2030.

Countries with high water scarcity risk are increasingly investing towards water treatment capabilities to secure future supplies of this precious yet dwindling resource. Phosphonates are regarded multi-functional metal-ion control agents. Phosphonates have a unique blend of properties that makes them ideal for addressing a number of challenges encountered in the utilization of water. This has made the material a highly used component across water treatment formulations, fostering strong revenue growth for the phosphonates market.

All in all, the three application avenues outlined above are creating a sizable growth impetus for the market. However, with the ongoing global energy crisis spurring the oil and gas sector, the demand for phosphonates is expected to come from more diverse sources.

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