Phosphotungstic Acid Market Size

Phosphotungstic Acid Market size is set to register over 4.9% CAGR during the forecast period i.e., between 2024-2036. 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.

Frequently Asked Questions (FAQ)

The phosphotungstic acid industry size is set to register over 4.9% CAGR during the forecast period i.e., between 2024-2036.

Growing demand in paints and coatings industry as well as its increasing use in the synthesis of pharmaceutical products will impel the market growth.

Asia Pacific industry is poised to dominate majority revenue share by 2036, owing to demand for phosphotungstic acid inthe fast-developing industries such as pharmaceuticals, research and development, textile, and cosmetics in the region.

The major players in the market are Merck KGaA, TCS Biosciences Ltd, Thermo Fisher Scientific, MP Biomedicals, LLC, VWR International, LLC, TRC Inc., and others.

Phosphotungstic Acid Market Size