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Global Hypophosphorous Acid Market Size, Share, Forecast: By Type: Hypophosphorous Acid 50%, Hypophosphorous Acid 80%; By Grade: Technical Grade, Pharmaceutical Grade; By Application: Polymers and Plastics, Electronics, Pharmaceuticals, Paints and Coating, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Hypophosphorous Acid Market Outlook
The global hypophosphorous acid market is strongly supported by the global sodium hypophosphite market, which attained a value of USD 725.83 million in 2023. The hypophosphite acid market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5% to reach USD 1,125.68 million by 2032.
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Growing Electronics Sector Likely to Propel the Demand for Hypophosphorous Acid Globally
One of the chief applications of hypophosphorous acid is in the production of electroless nickel-phosphorous plating. This material is used extensively in the electronics industry in the making of printed circuit boards and hard-disk drives. It is also commonly used to provide a corrosion-resistant or smoothening coat over metal surfaces. Another factor that may boost the growth of the global hypophosphorous acid market is its use as a reducing agent in the pharmaceutical industry, which is currently facing a surge due to the COVID-19 pandemic. Hence, the market for hypophosphorous acid is expected to grow at a healthy pace during the forecast period of 2024-2032.
While Europe and North America continue to hold a significant market share, with respect to hypophosphorous acid consumption, the Asia Pacific region is expected to witness a robust growth in the coming years, mostly attributed to the increased utilisation of the acid in paints, inks, and coatings, as well as pharmaceuticals industries. The pharmaceuticals sector is expected to grow significantly in this region during the forecast period.
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Global Hypophosphorous Acid: Market Segmentation
Hypophosphorous acid (H¬3PO3), sometimes referred to as HPA, is a strong reducing agent obtained from hypophosphite salts like sodium hypophosphite. It is a clear, colourless liquid that can be stored under normal conditions. It is obtained from its salt form (such as sodium hypophosphite) and thus shares applications with this state. It is used to reduce a wide variety of chemicals in industrial production reactions. The acid is often shipped by suppliers as ‘pharmaceutical grade’, which indicates higher purity materials better suited for use in this industry.
The product’s applications as a catalyst, neutralising agent, and discolouring agent, especially in the synthesis of polymers and plastics, have led to the growth driven by the increased production of these materials. This is due to the increase in consumption of plastic and polymer-based products in recent years, a trend that is expected to continue in the future.
The major types of hypophosphorous acid are:
- Hypophosphorous Acid 50%
- Hypophosphorous Acid 80%
The market can be broadly categorised on the basis of its grade into:
- Technical Grade
- Pharmaceutical Grade
The market can be classified by application into:
- Polymers and Plastics
- Electronics
- Pharmaceuticals
- Paints and Coatings
- Others
The EMR report looks into the regional markets of hypophosphorous acid like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Steady Growth in the Plastics and Polymers Industry to Bolster the Demand for Hypophosphorous Acid
Hypophosphorous acid is commonly used as a reducing agent in the plastics and polymers industry and is typically supplied in 50% aqueous solution, but it also available in 80% when stronger reducing action is required. Besides reduction, the acid is also used as a neutralising agent, catalyst, wetting agent, and for bleaching in the polymers and plastics industry.
The large increase in the value of the pharmaceuticals industry as a result of the COVID-19 pandemic is expected to result in the increased demand for hypophosphorous acid, which is commonly used as a reducing agent (and various other applications) in the formulation of pharmaceutical products. It is expected that demand for pharma-grade HPA will continue to grow during the period 2024-2032.
Key Industry Players in the Global Hypophosphorous Acid Market
The report presents a detailed analysis of the following key players in the global hypophosphorous acid market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Arkema Group
- Richman Chemical Inc.
- Hubei Lianxing Chemical Co., Ltd.
- Varsal Inc.
- Jiangsu Kangxiang Industrial Group Co., Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis, as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hypophosphorous Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Hypophosphorous Acid Historical Market (2018-2023)
8.3 Global Hypophosphorous Acid Market Forecast (2024-2032)
8.4 Global Hypophosphorous Acid Market by Type
8.4.1 Hypophosphorous Acid 50%
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Hypophosphorous Acid 80%
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032
8.5 Global Hypophosphorous Acid Market by Grade
8.5.1 Technical Grade
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Pharmaceutical Grade
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Hypophosphorous Acid Market by Application
8.6.1 Polymers and Plastics
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Electronics
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Pharmaceuticals
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Paints and Coating
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Hypophosphorous Acid Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Hypophosphorous Acid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hypophosphorous Acid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hypophosphorous Acid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hypophosphorous Acid Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hypophosphorous Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.2 Europe Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.3 Asia Pacific Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.4 Latin America Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.5 Middle East & Africa Historical Price Trends (2018-2023) & Forecast (2024-2032)
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Arkema Group
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Richman Chemical Inc
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Hubei Lianxing Chemical Co., Ltd.,
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Varsal Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Jiangsu Kangxiang Industrial Group Co., Ltd.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hypophosphorous Acid Market: Key Industry Highlights, 2018 and 2032
2. Global Hypophosphorous Acid Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Hypophosphorous Acid Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Hypophosphorous Acid Historical Market: Breakup by Grade (USD Million), 2018-2023
5. Global Hypophosphorous Acid Market Forecast: Breakup by Grade (USD Million), 2024-2032
6. Global Hypophosphorous Acid Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Hypophosphorous Acid Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Hypophosphorous Acid Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Hypophosphorous Acid Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Hypophosphorous Acid Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Hypophosphorous Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Hypophosphorous Acid Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Hypophosphorous Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Hypophosphorous Acid Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Hypophosphorous Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Hypophosphorous Acid Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Hypophosphorous Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Hypophosphorous Acid Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Hypophosphorous Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
20. North America Historical Price Trends and Forecast 2018-2032
21. Europe Historical Price Trends and Forecast 2018-2032
22. Asia Pacific Historical Price Trends and Forecast 2018-2032
23. Latin America Historical Price Trends and Forecast 2018-2032
24. Middle East and Africa Historical Price Trends and Forecast 2018-2032
25. Global Hypophosphorous Acid Market Structure
Key Questions Answered in the Report
The global hypophosphorous acid market attained a value of USD 725.83 million in 2023.
The global hypophosphorous acid industry is being aided by the growth of the global sodium hypophosphite market, which is expected to register a CAGR of 5% during the forecast period of 2024-2032.
The global sodium hypophosphite market (the salt from which HPA is obtained) is expected to grow steadily during the forecast period and reach USD 1,125.68 million by 2032.
The major drivers of the industry, such as rising disposable incomes, growing electronics market, and increasing applications in polymers and plastics production, are expected to aid the market growth.
The key trends expected to drive the growth of the market are the advancements in the pharmaceutical industry and the increased R&D activities in this sector.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major types of hypophosphorous acid available for purchase are hypophosphorous acid 50% and hypophosphorous acid 80%.
Hypophosphorous acid as a product is classified into technical and pharmaceutical grade.
The leading applications of hypophosphorous acid include polymers and plastics, electronics, pharmaceuticals, and paints and coatings, among others.
The major companies involved in production and supply of hypohosphorous acid are Arkema Group, Richman Chemical Inc., Hubei Lianxing Chemical Co., Ltd., Varsal Inc., and Jiangsu Kangxiang Industrial Group Co., Ltd., among others.
Analyst Review
The global hypophosphorous acid market is being aided by the growth of the sodium hypophosphite market, which attained a value of USD 725.83 million in 2023. The global hypophosphorous acid industry is supported by the thriving electronics industry. Aided by the sharp increase in the pharmaceutical industry and growing R&D activities, the market is expected to witness a further growth in the forecast period of 2024-2032. The sodium hypophosphite market, meanwhile, is expected to grow at a CAGR of 5% between 2024 and 2032 to reach USD 1,125.68 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the global hypophosphorous acid market can be bifurcated into hypophosphorous acid 50% and hypophosphorous acid 80%. The market can also be classified based on grades as technical grade and pharmaceutical grade. On the basis of application, the industry is divided into polymers and plastics, electronics, pharmaceuticals, and paints and coatings, among others. The major regional markets for global hypophosphorous acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Arkema Group, Richman Chemical Inc., Hubei Lianxing Chemical Co., Ltd., Varsal Inc., and Jiangsu Kangxiang Industrial Group Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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