Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Phosphotungstic Acid Market size is set to register over 4.9% CAGR during the forecast period i.e., between 2025-2037.
This growth is on the back of the rising demand for phosphotungstic acid in multiple industries such as scientific research and development services, biotechnology, chemical, and pharmaceutical industries. Phosphotungstic acid (PTA) is a heteropoly acid that is less permeable to the beam of an electron microscope and is extensively used in scientific research and development, which was valued at over USD 225 billion in the United States alone for the year 2020.
Phosphotungstic acid is mainly used in the precipitation of proteins in various applications which has earned it the title of universal precipitant.As per latest report, India’s biotechnology industry grew from about USD 30 billion to over USD 65 billion in the span of 5 years by 2020. The growing demand for precipitation of proteins in biotechnological applications are likely to boost the growth of the global phosphotungstic acid market over the assessment period.
Phosphotungstic Acid Market: Growth Drivers and Challenges
Growth Drivers
- Growing Demand in Paint and Coatings Industry – Phosphotungstic pigments are used in the manufacture of printing inks, paints, and enamels. As per research, in 2019, about 11 billion gallons of paints and coatings were produced globally. The growing demand for inks and paints is estimated to boost the growth of the market.
- Growing Use as a Staining Agent in Diagnosticsto Detect Tumors - It is predicted that by the end of the forecast period, the worldwide cases of cancer is going to touch more than 25 million.
- Expansion of Construction Industry- There is a growing demand for phosphotungstic acid in the production of paints used in construction. With the pressing need to build over 12,000 buildings every single day to support the growing population, the global phosphotungstic acid market is predicted to surge.
- Growing Use in the Manufacture of Cosmetic Formulations that Protects the Skin - Skincare industry is projected to attain a revenue of approximately USD 180 billion by 2025, as per recent studies. Moreover, skincare accounted for about 40% of the global cosmetics industry.
- Increasing Use as a Catalyst in the Synthesis of Pharmaceutical Products- Phosphotungstic Acid is used in the production of antimalarial, anti-inflammatory, antibacterial, and antihypertensive drugs. The phosphotungstic acid market is expected to grow with the rise in the pharmaceutical industry which has been steadily expanding over the past few decades and stood at over USD 1.6 trillion in 2020.
Challenges
- May Cause Skin Irritation
- May Emit Toxic Fumes at Very High Temperatures
- Lack of Awareness of its Utility in Some Developing Countries
Phosphotungstic Acid Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
4.9% |
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Regional Scope |
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Phosphotungstic Acid Segmentation
The phosphotungstic acid market is segmented and analyzed for demand and supply by gradeinto industrial and reagent grades. Of them, the industrial grade phosphotungstic acid is expected to acquire a larger share of the global market over the forecast period owing to the large-scale cost-effective commercial manufacture of phosphotungstic acid. For instance, global chemical production is set to grow by around 9% above the 2019 level by 2022.
Our in-depth analysis of the global phosphotungstic acid market includes the following segments:
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By Type |
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By Grade |
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By Purity |
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By Application |
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By End-use |
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Customize this ReportPhosphotungstic Acid Industry - Regional Synopsis
Regionally, the global phosphotungstic acid market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2037. This growth is owing to the demand for phosphotungstic acid inthe fast-developing industries such as pharmaceuticals, research and development, textile, and cosmetics in the region. The Chinese pharmaceutical industry is growing at a rapid pace owing to the increasing investments in research and development. In 2019, China spent over USD 140 billion in pharmaceutical-related research and development, as per research.
Companies Dominating the Phosphotungstic Acid Landscape
- Merck KGaA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- TCS Biosciences Ltd
- Thermo Fisher Scientific
- MP Biomedicals, LLC
- VWR International, LLC.
- TRC Inc.
- American Elements
- Central Drug House Pvt. Ltd.
- Oxford Lab Fine Chem LLP
- Noah Chemicals INC
In the News
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Merck KGaA has acquired the Korean chemical business of Mecaro Co. Ltd. (Mecaro), to further expand its regional and global production of semiconductors
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Thermo Fisher Scientifichas received approval to employ its Oncomine Dx Target Test to diagnose patients with HER2 activating mutations for lung cancer
Author Credits: Rajrani Baghel
- Report ID: 4253
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
