In the Asia Pacific region, phosphorous acid prices declined due to government measures to reduce sulfur emissions affecting production, along with sluggish market recovery from COVID restrictions and labor strikes, leading to decreased buyer demand in Q1 and Q2, 2023. In Europe, production cuts were implemented to counter rising inventories caused by substantial imports from Asia, resulting in intensified market competition and price decline in the same quarters. North America saw increased competition from Asian players amid weak market conditions. Low demand from end-user industries, coupled with economic challenges, contributed to a downward price trend for phosphorous acid in the region.
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Definition
Phosphorous acid (H3PO3) is an inorganic compound with a chemical formula. It is a colorless, crystalline solid that is soluble in water. It is a weak acid and can act as a reducing agent in chemical reactions. Phosphorous acid is often used as a precursor for various phosphorus-containing compounds. Its properties make it useful in multiple applications, including as a fungicide in agriculture, a flame retardant in textiles, a reducing agent in chemical synthesis, and a corrosion inhibitor in metal treatments.
Key Details About the Phosphorous Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Phosphorous Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Phosphorous Acid Price Trends, including India Phosphorous Acid price, USA Phosphorous Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Phosphorous Acid Price Trend:
Phosphorous acid finds several industrial applications due to its unique properties. In the agrochemical industry, it serves as a fungicide and plant nutrient, aiding in disease control and promoting plant growth. In the production of flame-retardant materials, it contributes to enhancing fire resistance in textiles and plastics. The chemical industry employs it as a reducing agent in various reactions and as a precursor for other phosphorus-containing compounds. Additionally, phosphorous acid is utilized in the manufacture of water treatment chemicals, metal surface treatments, and electronic components. Its versatility, particularly as a phosphorus source and reagent, makes it valuable across industries.
Key Players:
- LANXESS
- Nutrien Ltd
- Prayon
- Yara
- Solvay
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