Dimethyl Phosphate Market

Dimethyl Phosphate Market Research, 2031

The global dimethyl phosphate market was valued at $2.2 billion in 2021, and is projected to reach $3.9 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. 

The dimethyl phosphate market had a moderate impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various chemical and industrial products. However, the market recovered during the last quarter of 2021 owing to rising demand for agrochemicals across the globe.

Report Key Highlighters:

• The dimethyl phosphate industry is consolidated in nature among companies such as Otto Chemie Pvt. Ltd., Merck KGaA, Lanxess, Fisher Scientific, and Biosynth that hold a significant share of the market. 

• The study contains qualitative information such as the market dynamics (drivers, restraints, challenges, and opportunities), Porter’s Five Force Analysis, key regulations across North America, Europe, Asia-Pacific, and LAMEA regions, and value chain analysis. 

• The latest trends in the global dimethyl phosphate market is analyzed across 19 countries in 4 different regions.

Dimethyl phosphate is an organophosphorus compound with the formula (CH3O)2P(O)H. It is a reagent used for generating other organophosphorus compounds and exploiting the high reactivity of the P-H bond. Dimethyl phosphate is tetrahedral and is a colorless liquid. It has a wide range of applications in various end-use industries such as automotive, agriculture, oil & gas, industrial, and other end-use industry. Dimethyl phosphates include properties such as flame retardants, corrosion inhibitors, excellent sources of fertilizer, a gasoline additive, and others.

Factors such as an increase in the young population, adoption of western culture, and rise in fashion consciousness among individuals of both developed and developing economies have led the textile sector to witness significant growth where dimethyl phosphates play an important role in the textile dyeing process. This is projected to propel the dimethyl phosphate market growth. In addition, an increase in disposable income has surged the number of potential buyers for premium textile fabrics. This has led textile manufacturers to focus more on producing high-quality fabrics where dimethyl phosphate is widely employed as a textile finishing agent. This is projected to surge the utilization of dimethyl phosphates in the textile sector; thus, creating lucrative opportunities for the market.

However, fluctuations in the prices and unavailability of raw materials are projected to pose a major challenge to the growth of the dimethyl phosphate market. Furthermore, toxicity nature and side effect associated with dimethyl phosphate is likely dampen the market growth. In addition, the lack of awareness and benefits regarding use of dimethyl phosphates and its different types has hampered the growth rate of dimethyl phosphate market.

The growth and expansion of the agricultural industry especially in developing economies coupled with increasing personal disposable income will further create lucrative and remunerative growth opportunities for the dimethyl phosphate market. Rising industrialization, globalization, and increased focus of the farmers towards multiplications of productivity will also carve the way for the growth of the dimethyl phosphate market. Dimethyl phosphate is used as a corrosion inhibitor and scale inhibitor in the industrial furnace, and equipment, this will also bolster the market growth rate. These factors are predicted to contribute to the global market growth and are anticipated to offer new opportunities in the global dimethyl phosphate market.

The dimethyl phosphate market is segmented on the basis of purity, application, and region. On the basis of type, the market is categorized into 95.0% and 98.0%. On the basis of application, it is divided into agrochemicals, corrosion inhibitors, petroleum additives, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

In 2021, the 98% segment was the largest revenue generator and is anticipated to grow at a CAGR of 5.9% during the forecast period. Purity, 98.0% describes the purity assay of dimethyl phosphate which is a yellow color liquid that is stored at -20 degree centigrade and used in various end-use industries such as cosmetics, pharmaceuticals, agriculture, and others. Purity, 98.0% based dimethyl phosphate is a good source of intermediates extensively used in various chemical industries.

Factors such as rise in urbanization, increased focus on the agriculture sector and others are key market trends responsible for the surge in demand for dimethyl phosphate purity, 98.0% in the agriculture sector where it acts as a good source of fertilizer that helps in increasing the crop yield. This acts as one of the key drivers responsible for the growth of purity, 98.0% in the market. Furthermore, several manufacturers have increased their production capacities for dimethyl phosphate with a purity of 98.0%.

In addition, well-established chemical and manufacturing units have enhanced the performance of dimethyl phosphate-based purity 98.0% which is used as a chemical intermediator in the industrial sector. These factors are collectively responsible for the growth of purity, 98.0% based on dimethyl phosphate chemical.

By application, the agrochemicals application segment dominated the global market in 2021 and is anticipated to grow at a CAGR of 5.7% during the forecast period. The dimethyl phosphate market forecast is done based on analyzing different application segments across the industries. The production rate for pesticides has increased across the globe. For instance, according to an article published by DownToEarth in February 2020, the global pesticide production rate is projected to reach a value of $31.6 billion by 2024, growing at a Compound Annual Growth Rate of 8.1% from 2019 to 2024. This is expected to increase the potential sales of dimethyl phosphate during the forecast period.

In addition, dichlorvos (2, 2-dichlorovinyl dimethyl phosphate) is the most commonly used pesticide in the agriculture sector and helps in maintaining crop efficiency. These factors are propelling the growth of dimethyl phosphate in the market; thus, boosting the market growth.

 The corrosion inhibitor accounted for the second-largest application segment in the global dimethyl phosphate market growing at a CAGR of 6.0%. Factors such as a rise in disposable income coupled with increasing penetration of original equipment manufacturers (OEMs) have led the automotive sector to witness significant growth wherein dimethyl phosphate-based corrosion inhibitors are widely used for corrosion resistance purposes in under-hood parts, vehicle body, and others. This may act as one of the key drivers responsible for the growth of the dimethyl phosphate market for corrosion inhibitors.

Furthermore, rapid industrialization has surged the need for dimethyl phosphate-based corrosion inhibitors used for pipeline cleaning, equipment coating, and other applications. This may fuel the growth of the dimethyl phosphate market for corrosion inhibitor applications. 

The Asia-Pacific dimethyl phosphate market size is projected to grow at the highest CAGR of 6.4% during the forecast period and account for 41.2% of the dimethyl phosphates market share in 2021. India witnessed significant growth in the agriculture industry where dimethyl phosphate-based fertilizers such as pesticides, insecticides, and herbicides are employed on plants for protection purposes. In addition, the increasing establishments of chemical, manufacturing, biomedical, and other industrial units have led the industrial sector in Indonesia to witness significant growth, wherein dimethyl phosphate with different purity ratios finds application in various industrial processes owing to its use as an intermediate in various chemical synthesis processes.

According to a report published by the Indonesian Investment Coordinating Board (BKPM), the manufacturing industry in Indonesia (including the chemical, pharmaceutical, and traditional medicine industries) is witnessing rapid growth, owing to the increasing utilization of various consumer goods. These factors together escalate the growth of the dimethyl phosphate market in the Asia-Pacific region.

Europe dimethyl phosphate market accounted for the second largest in terms of revenue growth at a CAGR of 5.6%. The increase in use of dimethyl phosphate in the agriculture, industrial, textile, petroleum, and other end-use sectors has led the key manufacturers to increase their production capacities for dimethyl phosphate chemicals with different purity ratios that include, 95.0%, 99.0%, and others. The dimethyl phosphate chemicals are widely employed on the plants as a pesticide thus, protecting the crops from pests and increasing the crop yield. This may act as one of the key drivers responsible for the growth of the dimethyl phosphate market in the European region.

Moreover, the region has a strong presence of top automobile manufacturers such as BMW, Mercedes-Benz, Porsche, Audi, and Volkswagen that are consistently adding value by producing desirable and attractive cars where dimethyl phosphate is used for its best attainable corrosion inhibitor properties. This factor is likely to boost the overall market in the growing automotive industry in the European region. 

The global dimethyl phosphate market share is dominated by major players including Otto Chemie Pvt. Ltd., Merck KGaA, Lanxess, Fisher Scientific, Toronto Research Chemicals, AccuStandard, Inc., Alfa Chemistry, Biosynth, BLDpharm, Clearsynth. The global dimethyl phosphate market report provides an in-depth competitive analysis as well as profiles of these major players.

Impact Of Covid-19 On The Global Dimethyl Phosphate Market 

• The dimethyl phosphate market had a moderate impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various chemical and industrial products. The outbreak of COVID-19 resulted in the shutdown of various chemical manufacturing plants for a long period, especially in Europe and Asia-Pacific, owing to which manufacturers have faced shortages in labor units, and production losses. 

• However, the consumption of fruits and vegetables is increased during COVID-19 owing to the health benefits associated with them. Dimethyl phosphate is used as an excellent source of fertilizer which helps in maintaining crop productivity during natural calamities. Thus, a rise in demand for fruits and vegetables as well as industrial and chemical sectors is predicted to boost the growth of the dimethyl phosphate market during the forecast period. 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dimethyl phosphate market analysis from 2021 to 2031 to identify the prevailing dimethyl phosphate market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the dimethyl phosphate market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global dimethyl phosphate market trends, key players, market segments, application areas, and market growth strategies.

 Dimethyl Phosphate Market Report Highlights