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Octadecylphosphonic Acid Market - Forecast(2023 - 2028)
Octadecylphosphonic Acid Market Overview
The Octadecylphosphonic Acid Market size is estimated
to grow at a CAGR of 5.2% during the forecast period 2022-2027. The octadecylphosphonic
acid is a chemical compound that is used as a self-assembled monolayer, which
forms a surfactant to bond with surface atoms of various metal oxides. Its hydrophobic
feature enables it to cover a relatively large surface area. The octadecylphosphonic
acid has major applications as a surfactant, detergent, dispersant, quantum
dots and others. The growing demand for octadecylphosphonic acid in the electrical
and electronic sector for low-noise nano-electrical devices, semiconductors and
others is driving the octadecylphosphonic acid market. In addition, flourishing
applicability in the self-cleaning industry owing to rising cleanliness and
hygiene awareness is propelling the growth in the octadecylphosphonic acid
industry. The covid-19 pandemic created a major disruption in the octadecylphosphonic
acid market due to the closure of production sites, logistics restrictions,
demand and supply chain disruption and other lockdown restrictions. However,
significant recovery in major end-use sectors such as pharmaceuticals,
electronics and others is boosting the demand for octadecylphosphonic acid.
Thus, the octadecylphosphonic acid industry is anticipated to grow rapidly and
contribute to the octadecylphosphonic acid market size during the forecast
period.
Octadecylphosphonic Acid Market Report Coverage
The “Octadecylphosphonic
Acid Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth
analysis of the following segments in the Octadecylphosphonic Acid Industry.
Key Takeaways
- The Asia-Pacific dominates the Octadecylphosphonic Acid Market, owing to growth factors such as growing medical & pharmaceutical infrastructure, developed optical electronics base and urbanization, thereby boosting growth in this region.
- The flourishing pharmaceutical industry across the world is propelling the demand for octadecylphosphonic acid for various applications in quantum dots for biomedical devices, medical imaging others, thereby contributing to the growth in the octadecylphosphonic acid market size.
- The demand for octadecylphosphonic acid in the electrical & electronics sector is significantly growing for a wide range of applicability in optical & molecular electronic components and other consumer electrical devices, thereby offering major growth in the octadecylphosphonic acid industry.
- However, the toxicity and hazardous impacts of octadecylphosphonic acids on human health and the environment act as a challenging factor in the octadecylphosphonic acid industry.
Figure: Asia-Pacific Octadecylphosphonic Acid Market Revenue, 2021-2027 (US$ Million)
Octadecylphosphonic Acid Market Segment Analysis – by Application
The quantum dot segment held a significant Octadecylphosphonic
Acid Market share in 2021 and is forecasted to grow at a CAGR of 5.1% during
the forecast period 2022-2027. The octadecylphosphonic acid has major demand
for quantum dot application in the electronic and pharmaceuticals sector. The
octadecylphosphonic acid forms a surfactant to bond with metal oxides and
covers large surfaces owing to hydrophobic features. The quantum dots
application of octadecylphosphonic acid in pharmaceuticals is significantly
growing for bio-medical, drug testing and others. The medical and pharmaceuticals
sector experience lucrative growth owing to factors such as drug delivery
innovation and robust production of biomedical devices. For instance, according
to the European Federation of Pharmaceutical Industries and Association
(EFPIA), the total production of pharmaceuticals increased from 293,213 in 2019
to 310,000 in 2020. Moreover, the quantum dot application of
octadecylphosphonic acid in electronics for optical-electrical devices,
transistors, nanomaterials and others is propelling major growth. The
electronics sector is significantly flourishing due to the rise in electrical
device production and demand for smart electrical equipment during work from
home culture. According to the India Brand Equity Foundation (IBEF), the
consumer electronics and appliances sector accounted for US$9.84 billion in
2021 and is expected to reach US$21.19 billion by 2025. With the rapid growth
in electrical and biomedical device production, the quantum dot applications
are anticipated to grow rapidly in the octadecylphosphonic acid industry during
the forecast period.
Octadecylphosphonic Acid Market Segment Analysis – by End-Use Industry
The medical & pharmaceuticals segment held
a significant Octadecylphosphonic Acid Market
share in 2021 and is forecasted to grow at a CAGR of 5.4% during the forecast
period 2022-2027. The octadecylphosphonic acid has major demand in the medical
and pharmaceuticals industry for applicability in self-assembled monolayers,
quantum dots and others, due to its superior hydrophobic and optical
properties. The medical & pharmaceutical industry is exponentially growing
owing to growth factors such as rising chronic cases, innovation in drug
delivery technology and development in medical & pharmaceutical
infrastructure. For instance, according to the Government of Canada,
Canada’s medical device sector had an estimated value of US$7.5 billion in
2020, accounting for 1.8% of the global market.
According to the International Trade Administration (ITA), the estimated
pharmaceutical market size in Japan rose from US$108,260 thousand in the year
2019 to US$109,695 thousand in the year 2020. With the increase in
pharmaceutical and biomedical production and demand, the applications of
octadecylphosphonic acid for bio-imaging devices, drug delivery and others are
anticipated to rise, which, in turn, is projected to boost the growth scope of the
pharmaceutical sector in the octadecylphosphonic acid market during the
forecast period.
Octadecylphosphonic Acid Market Segment Analysis – by Geography
The Asia-Pacific held the largest Octadecylphosphonic Acid Market share in 2021 up to 43%. The robust growth of octadecylphosphonic acid in this region is influenced by lucrative growth in the pharmaceutical and medical industry and established industrial base and urbanization trends. For instance, according to the India Ratings & Research, the Indian pharmaceutical sector is estimated to grow by over 12% year-on-year in the year 2022. According to the Korea Health Industry Development Industry (KHIDI), the pharma sector in South Korea accounted for US$20.9 billion in 2020, marking an expansion of 5.4% on average year over year. According to the International Trade Administration, the medical device sector in China is projected to expand by 6.2% during 2020-2025. With the increase in medical and pharmaceutical output and robust production trends in APAC, the demand for octadecylphosphonic acid in quantum dots, self-assembled monolayers and others is rising, which, in turn, is projected to boost the growth scope for the Asia-Pacific region in the octadecylphosphonic acid market during the forecast period.
Octadecylphosphonic Acid Market Drivers
Bolstering Growth of Electrical & Electronics Sector:
The octadecylphosphonic acid has
flourishing applicability in the electrical & electronics sector for
self-assembled monolayers for utility in molecular electronics and electronic
component fabrication. The electronics industry is significantly growing owing
to growth factors such as growing demand for consumer electronic devices,
manufacturing trends for organic electronics and rising income. For instance,
according to the OBERLO, the total revenue of consumer electronics in the US is
expected to increase by 7.5% in 2023. According to Samsung Electronics, it
maintained a major 32% share in the smartphone electronic segment in Europe for
2021, marking a 6% growth in 2021 over 2020. According to the India Brand
Equity Foundation (IBEF), the domestic production of electronics in India
increased from US$29 billion in 2014-15 to US$67 billion in 2020-21. With the
rise in global production for electronic devices, the applicability of
octadecylphosphonic acid for optical and molecular electronic components is
rising, which, in turn, is boosting its demand and driving the
octadecylphosphonic acid market.
Flourishing Growth of the Cleaning Industry:
Octadecylphosphonic acid has significant
applications in the cleaning industry for home and industrial segments for self-cleaning
in detergents, surfactants and others. The cleaning industry is rapidly
flourishing owing to growth factors such as major emphasis on hygiene and
cleanliness and growing cleaning product consumption. For instance, according
to the Unilever Integrated Annual Report, the sales of home care cleaning
products increased from US$135 billion on 31st March 2020 to
US$138.83 billion on 31st March 2021 in India. According to European
Cleaning & Facilities Service Industry (EFCI), the revenue for the cleaning
sector in Europe increased by 8% to US$135 billion in 2020-21. With the rapid
increase in cleaning activities, the applications for Octadecylphosphonic acids
in detergents are rising, which, in turn, is providing major growth scope and
driving the octadecylphosphonic acid industry.
Octadecylphosphonic Acid Market Challenges
Toxic and Hazardous Impacts:
Octadecylphosphonic acid is toxic and emits
hazardous fumes that are fatal for environmental and human health. The GHS
classifies this compound as hazardous as this chemical compound leads to skin
irritation, serious eye irritation and damage, respiratory irritation, organ
toxicity and others. For instance, according to OSHA 29 CFR 1910.1200.,
octadecylphosphonic acid is classified as a hazardous substance. Moreover, the
accumulation of octadecylphosphonic acid waste leads to the emission of harmful
fumes, thereby impacting marine life and the environment. Thus, owing to such
severe hazardous impacts and toxicity, the demand and applicability in the
market are anticipated to face major challenges.
Octadecylphosphonic Acid Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Octadecylphosphonic Acid Market. The 10 companies in the Octadecylphosphonic Acid Market are:
- SEQENS SAS
- Sanmenxia Aoke Chemical Industry Co. Ltd.
- Hangzhou KieRay Chem Co., Ltd.
- Xingrui Industry Co., Limited
- PCI Synthesis
- Carbone Scientific Co., Ltd.
- Autech Industry Co., Limited
- Spectrum Chemical
- Tokyo Chemical Industries
- Mitsubishi Chemical
Relevant Reports
Report Code: CMR 0487
Report Code: CMR 1012
Report Code: CMR 0690
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