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Report Overview
The hypophosphorous acid market size reached around USD 725.83 Million in 2024. The market is projected to grow at a CAGR of 5.00% between 2025 and 2034 to reach nearly USD 1182.30 Million by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Compound Annual Growth Rate
Value in USD Million
5%
2025-2034
Hypophosphorous Acid Market Outlook
*this image is indicative*
Growing Electronics Sector Likely to Propel the Demand for Hypophosphorous Acid Globally
One of the chief applications of hypophosphorous acid is in the production of electroless nickel-phosphorous plating. This material is used extensively in the electronics industry in the making of printed circuit boards and hard-disk drives. It is also commonly used to provide a corrosion-resistant or smoothening coat over metal surfaces. Another factor that may boost the growth of the global hypophosphorous acid market is its use as a reducing agent in the pharmaceutical industry, which is currently facing a surge due to the COVID-19 pandemic. Hence, the market for hypophosphorous acid is expected to grow at a healthy pace during the forecast period of 2025-2034.
While Europe and North America continue to hold a significant market share, with respect to hypophosphorous acid consumption, the Asia Pacific region is expected to witness a robust growth in the coming years, mostly attributed to the increased utilisation of the acid in paints, inks, and coatings, as well as pharmaceuticals industries. The pharmaceuticals sector is expected to grow significantly in this region during the forecast period.
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Global Hypophosphorous Acid: Market Segmentation
Hypophosphorous acid (H¬3PO3), sometimes referred to as HPA, is a strong reducing agent obtained from hypophosphite salts like sodium hypophosphite. It is a clear, colourless liquid that can be stored under normal conditions. It is obtained from its salt form (such as sodium hypophosphite) and thus shares applications with this state. It is used to reduce a wide variety of chemicals in industrial production reactions. The acid is often shipped by suppliers as ‘pharmaceutical grade’, which indicates higher purity materials better suited for use in this industry. The product’s applications as a catalyst, neutralising agent, and discolouring agent, especially in the synthesis of polymers and plastics, have led to the growth driven by the increased production of these materials. This is due to the increase in consumption of plastic and polymer-based products in recent years, a trend that is expected to continue in the future.
The major types of hypophosphorous acid are:
- Hypophosphorous Acid 50%
- Hypophosphorous Acid 80%
The market can be broadly categorised on the basis of its grade into:
- Technical Grade
- Pharmaceutical Grade
The market can be classified by application into:
- Polymers and Plastics
- Electronics
- Pharmaceuticals
- Paints and Coatings
- Others
The EMR report looks into the regional markets of hypophosphorous acid like:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Steady Growth in the Plastics and Polymers Industry to Bolster the Demand for Hypophosphorous Acid
Hypophosphorous acid is commonly used as a reducing agent in the plastics and polymers industry and is typically supplied in 50% aqueous solution, but it also available in 80% when stronger reducing action is required. Besides reduction, the acid is also used as a neutralising agent, catalyst, wetting agent, and for bleaching in the polymers and plastics industry.
The large increase in the value of the pharmaceuticals industry as a result of the COVID-19 pandemic is expected to result in the increased demand for hypophosphorous acid, which is commonly used as a reducing agent (and various other applications) in the formulation of pharmaceutical products. It is expected that demand for pharma-grade HPA will continue to grow during the period 2025-2034.
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Key Industry Players in the Global Hypophosphorous Acid Market
The report presents a detailed analysis of the following key players in the global hypophosphorous acid market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Arkema Group
- Richman Chemical Inc.
- Hubei Lianxing Chemical Co., Ltd.
- Varsal Inc.
- Jiangsu Kangxiang Industrial Group Co., Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis, as well as an analysis of Porter’s Five Forces model.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 725.83 Million.
The market is projected to grow at a CAGR of 5.00% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 1182.30 Million by 2034.
The major drivers of the industry, such as rising disposable incomes, growing electronics market, and increasing applications in polymers and plastics production, are expected to aid the market growth.
The key trends expected to drive the growth of the market are the advancements in the pharmaceutical industry and the increased R&D activities in this sector.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major types of hypophosphorous acid available for purchase are hypophosphorous acid 50% and hypophosphorous acid 80%.
Hypophosphorous acid as a product is classified into technical and pharmaceutical grade.
The leading applications of hypophosphorous acid include polymers and plastics, electronics, pharmaceuticals, and paints and coatings, among others.
The major companies involved in production and supply of hypohosphorous acid are Arkema Group, Richman Chemical Inc., Hubei Lianxing Chemical Co., Ltd., Varsal Inc., and Jiangsu Kangxiang Industrial Group Co., Ltd., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
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| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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