According to the research report titled ‘Global Phosphorus & Derivatives Market Size study, by Type (Ammonium Phosphates, Industrial Phosphates, Purified Phosphoric Acid, Phosphorus Chloride, Phosphorus Pentoxide, Phosphorus Pentasulfide) by Application (Fertilizers, Detergents, Food Industry, Water Treatment Chemicals, Metal Finishing, Flame Retardant Material) and Regional Forecasts 2020-2027’ available with Market Study Report, global phosphorus & derivatives market share accounted for USD 73.66 billion in the year 2019 and is projected to register a CAGR of 3.7% during 2020-2027.
 

Increasing adoption of phosphorus in the metallurgical industry for producing alloys, growing demand for the product’s derivatives such as phosphoric acid for cleaning metals, and widespread pyrotechnic applications including the manufacturing of fireworks and projectiles are augmenting the growth of the global phosphorus & derivatives market size.
 

For the record, phosphorous is a combustible non-metal that exists in two allotropic forms, namely red phosphorus and white phosphorus. The derivatives of the element include tributyl phosphate, triethyl phosphate, phosphorus tribromide, sodium hypophosphite, phosphorous acid, phosphorus pentachloride, phosphorus oxychloride, and phosphoric acid among others.
 

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Phosphorus is a vital plant nutrient and is extensively used in the production of fertilizers. Therefore, rising adoption of fertilizers for improving crop yield coupled with escalating demand for water treatment solutions are positively swaying the global phosphorus & derivatives market dynamics.
 

As per credible estimations, surging use of phosphorus derivatives in electric vehicle batteries such as rechargeable lithium iron phosphate batteries are further fueling the market growth. However, stringent regulations pertaining to the usage of phosphates in detergents along with deteriorating quality of phosphate rocks are expected to impede the industry expansion throughout the analysis timeframe.
 

Based on type, global phosphorus & derivatives industry is fragmented into phosphorus pentasulfide, phosphorus pentoxide, phosphorus chloride, purified phosphoric acid, industrial phosphates, and ammonium phosphates. The application spectrum of the market comprises of flame retardant material, metal finishing, water treatment chemicals, food industry, detergents, and fertilizers.
 

Regionally, Asia-Pacific currently accounts for a majority share in global phosphorus & derivatives market and is estimated to exhibit the highest CAGR over 2020-2027. Factors such as flourishing agricultural sector, increasing utilization of fertilizers across the region, favorable government initiatives towards water treatment in India, Japan, and China, and high production rates of electric vehicle batteries in China are fostering the expansion of the regional market.
 

Leading organizations that outline the global phosphorus & derivatives industry trends are UPL Limited (United Phosphorus Limited), Lanxess AG, ICL Group Ltd (Israel Chemicals Ltd), CF Industries Holdings Inc., Akron OAO, Yara International ASA, EuroChem Group AG, The Mosaic Company, OCP S.A., and Agrium Inc. among others.