According
to Stratistics MRC, the “Global Phosphorus & Derivatives market” is accounted
for $68.19 billion in 2018 and is expected to reach $110.41 billion by 2027
growing at a CAGR of 5.5% during the forecast period. Some of the key factors
propelling the market growth are increasing demand for water treatment, increasing
population, development, and introduction of Halogen-Free Flame Retardants
(HFFR), decreasing arable land, increasing the use of biofuels, and increasing
demand for water treatment and an increase in demand for vital nutrients for the body
functioning. However, stringent regulations on the usage of phosphates in
detergents and deteriorating quality of phosphate rock are the restrainings the factor for the growth of the market.
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Phosphorus
& derivatives are fundamental nutrients that are utilized as additives to
build up the quality & strength of their end application, for example,
fertilizers, detergents, and the food industry. They are generally organic
compounds. It is a chemical element with symbol P and atomic number 15. It has
a concentration in the Earth's crust of about one gram per kilogram. It is
essential for life. They are a component of DNA, RNA, ATP, and phospholipids. The
derivatives of phosphorus are mostly used as a fertilizer in the production of
crops. These are also used in detergent manufacturing, water cleaning agents,
and edible products. It is a non-metal which is combustible. In the
metallurgical industry, it is used for forming the metallic alloys such as
phosphorous brass. It is also used in the production of insecticides and also
as an additive in the industrial oils. Fertilizers and feed markets are the
major end-users.