Press Release
Press Release
The global hypophosphorous acid industry is expected to be driven by the growth of the polymer and plastics industry. The rising consumption of plastics in various industries and the increasingly common-place use of polymers in day-to-day products is aiding the market growth. Hypophosphorous acid has numerous uses in the production process of this industry, that is, as a catalyst, neutralising agent, and for wetting and discolouring. The primary consumption of hypophosphorous acid, however, remains in electroless nickel plating, which is used to provide an additional layer of protection and corrosion resistance to metal surfaces. This is commonly used in the electronics industry. The growth of the pharmaceutical industry in the Asia Pacific region is another key factor, which is expected to bolster the growth of the market in the coming years.
Varsal Inc., one of the world’s leading producers of hypophosphorous acid, opened a new chemical plant in late 2018 in Tangshan, China. This also included significant investments in automation and equipment upgradation and is expected to directly contribute to increased capacity for hypophosphorous acid production and can be considered an indicator of growth in the Asia Pacific region. Arkema Group (OTCMKTS: ARKAY) and Richman Chemical Inc. are some of the other leading players within the industry.
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The major players in the global hypophosphorous acid market are Arkema Group, Richman Chemical Inc., Hubei Lianxing Chemical Co., Ltd., Varsal Inc., and Jiangsu Kangxiang Industrial Group Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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