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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 global red phosphor market s growth is mainly attributed to the increased demand for matchsticks, flame retardants, semiconductors, and fertilizers in multiple application areas such as automotive, agriculture, and pyrotechnics. Additionally, the implementation of government laws and regulations across the globe limits the production and import of red phosphor.
This discourages the demand for red phosphor on a global scale. The increasing emphasis on advanced and innovative technologies and products in the red phosphor industry creates several opportunities for the manufacturers to expand their revenue stream and product portfolios by using the 6N and 7N type red phosphorous in the semiconduct