Hypophosphorous acid is also known as phosphinic acid, hydroxy-phosphane, oxo-phosphinous acid, and oxo-phosphanol. Hypophosphorous acid is a hydroxy phosphine oxide, having monobasic character. It has a low-melting point and colorless compound, which is highly soluble in alcohol, dioxane, and water. Hypophosphorous acid is majorly manufactured from sodium hypophosphite. It is used as a reducing agent to reduce copper, mercury, and silver, and to verify impurities such as niobium, arsenic, and tantalum. It is also used as a catalyst during esterification reactions in medicines. Hypophosphorous acid is used as a decolorizing or bleaching agent in the paint & coating industry. It is also used for reducing arene-diazonium salts. However, hypophosphorous acid can penetrate the eyes and skin and cause blisters and inflammation upon contact. Thus, due to the health risks associated with hypophosphorous acid, its production and consumption is expected to be limited, restraining the growth of the market during the forecast period.
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The global hypophosphorous acid market can be segmented based on product type, end-user, industry, and region. In terms of product type, the hypophosphorous acid market can be classified into hypophosphorous acid 50% and hypophosphorous acid 80% (by weight). The hypophosphorous acid 80% segment is projected to grow rapidly during the forecast period. Hypophosphorous acid 80% has properties such as non-corrosiveness and high purity. It is widely used in coatings as resins and reducing agents. The paints & coatings industry is expected to generate high demand for hypophosphorous acid 80% during the anticipated years.
In terms of end-user, the hypophosphorous acid market can be divided into polymer, electronics, pharmaceutical, and others. In the plastic & polymer industry, hypophosphorous acid is used as a color stabilizer during the manufacturing of polymers such as polyamides, nylon fibers, poly-acrilonitrile, polyester fiber, epoxies, glycerols, fatty acid esters, and alkyd resins. In the electronics industry, hypophosphorous acid is used in electroless nickel plating to maintain the process clean and stable. Hypophosphorous acid layer provides corrosion resistance and wear resistance to nickel plating. In the pharmaceutical industry, hypophosphorous acid is used as antioxidant and stimulant in medicines.
Regional Market outlook
In terms of region, the hypophosphorous acid market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Europe is expected to be remain the leading market for plastic & polymer during the forecast period. Growth in the bio-based and recyclable polymer market in prominent countries, such as Germany and the U.K., is a key factor driving the demand for hypophosphorous acid market during the forecast period.
After Europe, Asia Pacific is the leading producer and consumer of electrical & electronics market, especially China and Taiwan. In the electronics industry, hypophosphorous acid is used to provide coating over printed circuit boards by nickel plating method. This is a key factor likely to drive the growth of the hypophosphorous acid market during the forecast period. The pharmaceutical industry in North America is reviving, which is anticipated to drive the demand for hypophosphorous acid in the generic medicines market. The pharmaceutical segment is expected to boost the demand for hypophosphorous acid market during the forecast period.
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Key Market Players
The global hypophosphorous acid market is fragmented. Large numbers of companies operate at both the global and regional levels. Major companies operating in the global hypophosphorous acid market include Hubei Lianxing Chemical, Qingyuan RGDC Chemicals, Fuerxin, Kangxiang, Kailida, Richman Chemical Inc., Minakem SAS, Arkema, Fang Chemicals, Varsal, and Meryer (Shanghai) Chemical Technology Co., Ltd.