Phosphorus & Derivatives Market Size Forecast to reach $69.2 billion by 2026
Phosphorus & Derivatives market size is forecast to reach US$69.2 billion by 2026, after growing at a CAGR of 3.1% during 2021-2026. The industry's rapid expansion is owing to rising demand from industries such as fertilizers, detergents, the food sector, water treatment chemicals, metal finishing, and halogen-free flame retardants. The factors which are primarily driving the demand for phosphorus & derivatives such as phosphorus tribromide, phosphorus pentachloride, adenosine triphosphate, ammonium phosphate, purified phosphoric acid are increasing demand for water treatment, as well as the development and adoption of halogen free flame retardants (HFFR) and the use of biofuels. Furthermore, the global market is also growing due to a decrease in arable land and an increase in demand for essential nutrients for body function. The rapid growth of the agriculture industry has also increased the demand for fertilizers; thereby, fueling the market growth. The market is...