Polyphosphoric Acid (PPA) Market: North America to Capture Major Share of Global market
Polyphosphoric Acid (PPA) Market: Introduction
- Polyphosphoric acids (PPA) are reactive oligomers having a short-chain polymer. These inorganic chemicals are odorless, colorless, highly viscous liquids and possess strong hygroscopic properties. Phosphorus pentoxide (P2O5) and phosphoric acid (H3PO4) are two basic compounds used in the production of polyphosphoric acid (PPA). Its preparation procedure includes heating and dehydration of phosphoric acid followed by a polycondensation process. Polyphosphoric acid (PPA) is available in various grades in the market.
- Polyphosphoric acids (PPA) are utilized in a wide variety of reagent applications in the chemical industry. These powerful dehydrating agents for organic synthesis, and intermediate for the production of phosphate esters with high mono-ester content. As a catalyst, polyphosphoric acid (PPA) is employed in petroleum and petrochemical for several processes such as dehydration, polymerization, alkylation, isomerization processes, and condensation. These compounds are also used in the metal treatment and as an asphalt and bitumen additive.
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Key Drivers, Restrains, and Opportunities of Global Polyphosphoric Acid (PPA) Market
- Demand for polyphosphoric acid (PPA) as a catalyst in numerous polymerization reactions is rising. Thus, significant expansion of the polymer and plastic industry is estimated to increase the demand for polyphosphoric acids (PPA) and subsequently, fuel the market. In the oil & gas sector, the dehydrating process is a crucial part of upstream operations. Surge in production of oil & gas, globally, is anticipated to propel the demand for dehydrating agent and subsequently, drive the demand for polyphosphoric acid (PPA).
- Polyphosphoric acid (PPA) also plays an indispensable role in chemical intermediates. Therefore, a surge in the demand for petrochemical and chemical products is estimated to augment the polyphosphoric acid (PPA) market during the forecast period.
- However, polyphosphoric acid (PPA) exhibits numerous harmful effects on the environment which is projected to hinder the market. Moreover, the stringent regulatory framework associated with the consumption of bio-based chemicals is also likely to hamper the demand for polyphosphoric acid (PPA) in numerous industrial applications.
- The outbreak of COVID 19 has adversely impacted the global economy, as governments undertook lockdown measures to curb the spread of the virus. Various manufacturing activities were halted across different end-use industries. This led to weakened demand for polyphosphoric acid (PPA). The prevailing macro environment shall register signs of recovery based on the prevalence of COVID 19 and subsequent resumption of manufacturing plants.
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North America to Capture Major Share of Global Polyphosphoric Acid (PPA) Market
- Asia Pacific is anticipated to account for a major share of the global polyphosphoric acid (PPA) market, in terms of revenue, due to significant expansion of petroleum, petrochemical, and polymer & plastic industries in the region, primarily in China and India. Moreover, the availability of low-cost raw materials in China is likely to augment the polyphosphoric acid market in the region.
- The market in North America and Europe is projected to expand at a steady growth rate during the forecast period. Stringent government regulations over the manufacturing industry coupled with shifting preference towards bio-based materials in these regions are estimated to hinder the demand for polyphosphoric acid.
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Key Players Operating in Global Polyphosphoric Acid (PPA) Market
The global polyphosphoric acid (PPA) market is concentrated, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions.
Major players operating in the global polyphosphoric acid (PPA) market are listed below:
- Arkema Group
- Merck KGaA
- Prasol Chemicals Pvt. Ltd
- Lanxess AG
- SMC Global
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