The global red phosphor market accounted for $476.16 billion in 2019 and is expected to reach $612.52 billion by 2025
The market is anticipated to grow at a CAGR of 4. 56% during the forecast period 2020-2025. The market growth is mainly attributed to the rising number of applications for red phosphor, increasing adoption and awareness rates, and heavy investments made in the research and development of red phosphor-based end-use products and solutions in the industry and its development.
New York, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Red Phosphor Market – A Global and Regional Analysis: Focus on Product Types and Their Applications, and Countries - Analysis and Forecast, 2020-2025" - https://www.reportlinker.com/p06008237/?utm_source=GNW
In addition, governments are coming up with policies and laws to encourage the import of red phosphorous in a transparent manner, which is expected to drive market growth during the forecast period.
COVID-19 has hit the red phosphor industry hard in terms of import of raw-material, transportation, and maintenance of a smooth supply-demand. The unavailability of sufficient raw material has created an imbalance in supply for medium-scale manufacturers as well as small-scale and medium-scale end users.
*Competitive Landscape
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Earlier, the applications of red phosphor were limited to matchsticks and fertilizers, but the innovation and development of red phosphor-based electronics such as semiconductors and transistors boost the capabilities of red phosphor in the mentioned industries. The red phosphor manufactured currently has significantly higher shock resistance as compared to its alternatives such as white, black, or yellow phosphorus.
Continuous product expansions (launches and enhancements) are some of the business strategies executed in the red phosphor market. Several companies, including BASF SE, Clariant AG, Nippon Chemical Industrial Co., Ltd, and Wylton (China) Chemicals Co., Ltd. have been involved in product launches and enhancements.
*Countries Covered*
• North America
• U.S.
• Canada
• Mexico
• South America
• Middle East and Africa
• U.K.
• China
• Europe
• Germany
• France
• Italy
• Rest-of-Europe
• Asia-Pacific and Japan (APJ)
• Japan
• South Korea
• India
• Rest-of-Asia-Pacific
Read the full report: https://www.reportlinker.com/p06008237/?utm_source=GNW
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