Research Nester published a report titled “Phosphotungstic Acid Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global phosphotungstic acid market in terms of market segmentation by type, grade, purity, application, end-use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global phosphotungstic acid market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031, and attain noteworthy revenue. The market is segmented on the basis of grade into industrial and reagent grades. Out of these sub-segments, the industrial grade phosphotungstic acid is expected to grow at the fastest pace over the forecast period owing to its large-scale production in the chemical industry.
The growth of the phosphotungstic acid market can be attributed to its myriad applications in various industries such as scientific research and development services, biotechnology, chemical, and pharmaceutical industries. Phosphotungstic acid is widely used as a staining agent and a catalyst in the scientific research and development industry. Phosphotungstic Acid is used in the production of antimalarial, anti-inflammatory, antibacterial, and antihypertensive drugs. This is projected to propel the phosphotungstic acid market growth.
Geographically, the global phosphotungstic acid market is categorized into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is projected to hold the largest share by the end of 2031 on the back of growing demand for phosphotungstic acid in industries such as pharmaceuticals, research and development, textile, and cosmetics. For instance, China expended over USD 140 billion in research and development across its pharmaceutical industry in the year 2019 and is expected to spend more over the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Use in the Synthesis of Pharmaceutical Products to drive the Growth of the Global Phosphotungstic Acid Market
Phosphotungstic Acid is used as a catalyst in the production of quinolines as they are easy to handle, less toxic, eco-friendly, and inexpensive. Quinolines are used as antimalarial, anti-inflammatory, antibacterial, and antihypertensive drugs. The pharmaceutical industry was valued at about USD 1.6 trillion in 2020. This is forecasted to propel the global phosphotungstic acid market during the forecast period.
However, the possibility of skin irritation as well as emission of toxic fumes when heated to higher temperatures are expected to operate as key restraints to the growth of the global phosphotungstic acid market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global phosphotungstic acid market which includes company profiling of Merck KGaA, 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, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global phosphotungstic acid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.