The global Calcium Hypophosphite Market is estimated to be valued at US$ 225.4 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Calcium Hypophosphite is an organophosphorus chemical compound used as a flame retardant and water treatment agent. It has high inhibition rate against corrosion and scaling, making it suitable for multiple industrial applications.
Market key trends:
One of the major trends in the calcium hypophosphite market is its increasing use as a flame retardant. Calcium hypophosphite acts as an effective flame retardant for various polymer and plastic materials without impacting their mechanical and physical properties. It helps improve the fire resistance of polymers and offers protection against combustion. The growth of end-use industries such as construction, automotive and electronics is expected to drive the demand for flame retardant materials and subsequently augment the consumption of calcium hypophosphite over the forecast period.
Market key trends:
The Global Calcium Hypophosphite Market growth can be attributed to its increasing application as an essential reducing agent in electroless plating of nickel. Calcium hypophosphite acts as a reducing agent during the process of electroless nickel plating. It helps in the uniform deposition of a thin nickel layer onto the surface of non-conductive materials. This enables corrosion resistance and improves the overall strength and hardness of the material. The rising demand from the metal finishing industry is expected to drive the demand for calcium hypophosphite over the forecast period.
SWOT Analysis:
Strength: Calcium hypophosphite is an efficient reducing agent that allows for uniform nickel plating on various surfaces.
Weakness: Calcium hypophosphite is toxic if inhaled or consumed and requires careful handling and storage.
Opportunity: Increasing application of electroless nickel plating in the electronics, automotive and aerospace industries presents an opportunity for calcium hypophosphite market growth.
Threats: Availability of substitute reducing agents and volatility in raw material prices pose threats to market players.
Key Takeaways:
The global calcium hypophosphite market size was valued at US$ 225.4 Mn in 2023. The market is projected to grow at a CAGR of 5.8% during the forecast period due to the rising application of electroless nickel plating process in various end-use industries. Regionally, North America commanded the largest market share in 2023 owing to the presence of established electronics and automotive industries in the region.
Regional analysis:
By region, the calcium hypophosphite market in North America is projected to witness robust growth during 2023-2030. This can be attributed to flourishing end-use industries such as automotive, aerospace and electronics in countries such as the US and Canada. Additionally, major players operating in the calcium hypophosphite market have their manufacturing facilities located in the North America, further promoting market growth.
Key players:
Key players operating in the calcium hypophosphite market include Solvay SA, Nippon Chemical Industrial Co., Ltd., Hubei Xingfa Chemicals Group Co., Ltd., Sigma-Aldrich (Merck KGaA), LANXESS AG, Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd., Nantong Xinbang Chemical Technology Chemical Co., Ltd., Triveni Chemicals, HBCChem, Inc., TCI Chemicals (Tokyo Chemical Industry Co., Ltd.), American Elements, Shanghai Worldyang Chemical Co., Ltd., Alfa Aesar (Thermo Fisher Scientific Inc.), Finetech Industry Limited, and Shanxi Lanhua Sci-Tech Venture Co., Ltd.
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