Report Code : CVMI2501247 | Published Date : March 3, 2025

1 | Market Overview

Phosphorus pentasulphide (P2S5) is a yellow solid compound primarily used in the production of lubricant additives, flotation agents, pesticides, and lithium battery electrolytes. It serves as a crucial intermediate in the synthesis of zinc dialkyldithiophosphate (ZDDP), a widely used anti-wear and antioxidant additive in engine oils. In recent years, the demand for P2S5 has expanded beyond its traditional applications to include battery-grade lithium thiophosphate electrolytes and agrochemical intermediates.

The compound’s high sulfur and phosphorus content, thermal stability, and reactivity with alcohols and amines render it extremely valuable in specialty chemical synthesis. As global regulations require enhanced lubricant performance and as lithium battery markets continue to expand, the demand for high-purity phosphorus pentasulphide is increasing.

 

2 | Market Size and Forecast

Year

Market Value (USD Million)

Notes

2019

620

Driven by lubricant additives and agrochemicals

2024

815

CAGR 5.6% (2019–2024)

2031

1,460

Projected CAGR 8.5% (2024–2031)

 

3 | Primary Market Drivers

  • The increased production of ZDDP for automotive and industrial lubricant applications
  • Growth in agrochemical intermediates such as pesticides and insecticides
  • Rising adoption of lithium thiophosphate-based solid electrolytes in batteries
  • Expansion of mining operations needing effective flotation agents
  • Regulations requiring longer drain intervals and improved lubricant performance

 

4 | Market Challenges

  • Hazardous handling and moisture reactivity require secure packaging and transport.
  • Environmental restrictions on sulfur-containing chemicals in some jurisdictions
  • Volatility in phosphorus and sulfur feedstock pricing
  • Competition from synthetic or bio-based alternatives in certain lubricant formulations

 

5 | Competitive Landscape

Company

Est. 2024 Share

Competitive Strengths

Recent Move

Chemtrade Logistics

22%

North American leader in phosphorus chemistries

Expanded P2S5 plant capacity in Louisiana

Italmatch Chemicals

18%

Strong in lubricant and industrial additives

Acquired U.S. phosphorus-based additive producer

Nippon Chemical

15%

High-purity grades for electronics and batteries

Introduced battery-grade thiophosphate P2S5 derivative

Innophos Holdings

12%

Integrated phosphorus sourcing

Entered into long-term supply agreement with battery OEM

Others

33%

Regional suppliers and mining-specific blends

Active in flotation formulations for copper and gold ores

 

6 | Detailed Market Segmentation

By Application

  • Lubricant Additives – 44%
  • Agrochemical Intermediates – XX%
  • Battery Electrolytes – XX%
  • Mining Flotation Agents – XX%
  • Others – XX%

 

By End Use Industry

  • Automotive & Industrial Lubricants – 38%
  • Agriculture – XX%
  • Battery Manufacturing – XX%
  • Mining & Metallurgy – XX%
  • Others – XX%

 

7 | Regional Analysis

  • Asia-Pacific (41%) – Dominant in agrochemical production and battery development in China, India, and South Korea.
  • North America (XX%) – Focus on high-performance lubricants and regulatory-compliant formulations.
  • Europe (XX%) – Agrochemical and industrial application growth.
  • Latin America (XX%) – Demand from mining and crop protection sectors.
  • Middle East & Africa (XX%) – Use in mineral flotation and regional lubricant markets.

 

8 | Technology and Innovation

  • Battery-grade P2S5 with reduced moisture reactivity
  • Solid-state electrolyte formulations using lithium thiophosphate compounds
  • Advanced stabilization for longer P2S5 shelf life
  • Customized P2S5 blends for dual-function agrochemical-lubricant systems

 

9 | Regulatory Environment

Governed by REACH (EU), TSCA (US), and local laws regarding hazardous chemical handling, proper labeling, moisture-proof containment, and personnel safety standards are mandatory. Environmental permits and emissions control regulations apply at production sites.

 

10 | Recent Developments (Q4 2023 – Q2 2025)

  • Q4 2023 – Chemtrade commissioned a new moisture-sealed packaging line.
  • Q2 2024 – Nippon Chemical developed P2S5-based solid electrolyte for lithium-sulfur batteries.
  • Q4 2024 – Italmatch signed strategic supply contract with global lubricant additive formulator.
  • Q1 2025 – Innophos launched dual-grade P2S5 for agro-lubricant hybrid applications.

 

11 | Strategic Outlook

Producers should invest in safer, battery-grade derivatives and expand regional packaging hubs. The synergy between agrochemical expansion and energy storage markets positions P2S5 as a dual-growth vector. Stakeholders must address sustainability pressures through cleaner production and supply chain optimization.

 

12 | Methodology

Estimates derived from production capacity mapping, downstream additive consumption models, and interviews with 50+ suppliers, OEMs, and R&D professionals. Forecasts were adjusted for EV battery ramp-ups and agrochemical policy shifts.





Reasons To Buy

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Scope

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Key Players

  • ICL Group Ltd.
  • Chemtrade Logistics Inc.
  • Hubei Xingfa Chemicals Group Co. Ltd.
  • ISK Synthetics Limited
  • Santai Aostar Phosphorus Chemical Industry Co. Ltd.

 

Phosphorus Pentasulphide Market Report

 

  1. 1. Phosphorus Pentasulphide Market Research Report
    1. 1.1 Study Objectives
    2. 1.2 Phosphorus Pentasulphide Market - Overview
    3. 1.3 Reason to Read This Report
    4. 1.4 Methodology and Forecast Analysis
  2. 2. Phosphorus Pentasulphide Market Research Report - Preface
    1. 2.1 Phosphorus Pentasulphide Market Research Report – Detailed Scope and Definitions
      1. 2.1.1 By Application
      2. 2.1.2 By End Use
      3. 2.1.3 By Region
  3. 3. Phosphorus Pentasulphide Market Dynamics
    1. 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
    2. 3.2. Restraints – By Application, By End Use, By Country
    3. 3.3. Opportunities – By Application, By End Use, By Country
    4. 3.4. Trends – By Application, By End Use, By Country
    5. 3.5. PEST Analysis
    6. 3.6. Porters Five Rule Analysis
    7. 3.7. Company’s Share Analysis (CSA) by Region or By Country
    8. 3.8. Phosphorus Pentasulphide Market Research Report – DROTs Impact Analysis
    1. 4. Phosphorus Pentasulphide Market Research Report, Historic Data 2019 - 2023 and Forecast Analysis Data 2024 - 2031
    2. 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    3. 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
    4. 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
    5. 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
  1. 5. Phosphorus Pentasulphide Market, By Application, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 5.1 Lubricant Additives
    2. 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    3. 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    4. 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    5. 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. 5.2 Agrochemical Intermediates
    7. 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    8. 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    9. 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    10. 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    11. 5.3 Battery Electrolytes
    12. 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    13. 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    14. 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    15. 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    16. 5.4 Mining Flotation Agents
    17. 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    18. 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    19. 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    20. 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    21. 5.5 Others
    22. 5.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    23. 5.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    24. 5.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    25. 5.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. Phosphorus Pentasulphide Market, By End Use, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 6.1 Industry Automotive & Industrial Lubricants
    2. 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    3. 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    4. 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    5. 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. 6.2 Agriculture
    7. 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    8. 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    9. 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    10. 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    11. 6.3 Battery Manufacturing
    12. 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    13. 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    14. 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    15. 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    16. 6.4 Mining & Metallurgy
    17. 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    18. 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    19. 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    20. 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    21. 6.5 Others
    22. 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    23. 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
    24. 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
    25. 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
  1. 7. Phosphorus Pentasulphide Market Forecast, By Region, 2019 - 2023 and 2024 - 2031 (Market Value, In USD Mn)
    1. 7.1 North America
      1. 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
      7.2 Europe
      1. 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
      7.3 Asia-Pacific
      1. 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
      7.4 Latin America
      1. 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
      7.5 Middle East and Africa
      1. 7.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
      7.6 Phosphorus Pentasulphide Market - Opportunity Analysis Index, By Application, By End Use, and Region, 2024 - 2031
  1. 8. North America Phosphorus Pentasulphide Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 8.1 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.1.1 Lubricant Additives
      2. 8.1.2 Agrochemical Intermediates
      3. 8.1.3 Battery Electrolytes
      4. 8.1.4 Mining Flotation Agents
      5. 8.1.5 Others
      8.2 By End Use Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.2.1 Industry Automotive & Industrial Lubricants
      2. 8.2.2 Agriculture
      3. 8.2.3 Battery Manufacturing
      4. 8.2.4 Mining & Metallurgy
      5. 8.2.5 Others
      8.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.3.1 United States
      2. 8.3.2 Canada
    2. 8.4 North America Phosphorus Pentasulphide Market – Opportunity Analysis Index, By Application, By End Use, and Country, 2024 - 2031
    3. 8.5 Regional Trends Analysis
    4. 8.6 North America Phosphorus Pentasulphide Market Research Report - Company Profiles
      1. 8.6.1 Company 1 (United States)
      2. 8.6.2 Company 2 (Canada)
      3. 8.6.3 Company 3 (Canada)
    9. Europe Phosphorus Pentasulphide Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 9.1 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.1.1 Lubricant Additives
      2. 9.1.2 Agrochemical Intermediates
      3. 9.1.3 Battery Electrolytes
      4. 9.1.4 Mining Flotation Agents
      5. 9.1.5 Others
      9.2 By End Use Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.2.1 Industry Automotive & Industrial Lubricants
      2. 9.2.2 Agriculture
      3. 9.2.3 Battery Manufacturing
      4. 9.2.4 Mining & Metallurgy
      5. 9.2.5 Others
      9.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.3.1 Germany
      2. 9.3.2 United Kingdom
      3. 9.3.3 France
      4. 9.3.4 Spain
      5. 9.3.5 Italy
      6. 9.3.6 Russia
      7. 9.3.7 Netherlands and Rest of Europe
    2. 9.4 Europe Phosphorus Pentasulphide Market – Opportunity Analysis Index, By Application, By End Use, and Country, 2024 - 2031
    3. 9.5 Regional Trends Analysis
    4. 9.6 Europe Phosphorus Pentasulphide Market Research Report - Company Profiles
      1. 9.6.1 Company 1 (Germany)
      2. 9.6.2 Company 2 (United Kingdom)
      3. 9.6.3 Company 3 (United Kingdom)
    10. Asia-Pacific Phosphorus Pentasulphide Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 10.1 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.1.1 Lubricant Additives
      2. 10.1.2 Agrochemical Intermediates
      3. 10.1.3 Battery Electrolytes
      4. 10.1.4 Mining Flotation Agents
      5. 10.1.5 Others
      10.2 By End Use Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.2.1 Industry Automotive & Industrial Lubricants
      2. 10.2.2 Agriculture
      3. 10.2.3 Battery Manufacturing
      4. 10.2.4 Mining & Metallurgy
      5. 10.2.5 Others
      10.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.3.1 China
      2. 10.3.2 Japan
      3. 10.3.3 India
      4. 10.3.4 South Korea
      5. 10.3.5 Australia & New Zealand
      6. 10.3.6 ASEAN
      7. 10.3.7 Rest of Asia-Pacific
    2. 10.4 Asia-Pacific Phosphorus Pentasulphide Market – Opportunity Analysis Index, By Application, By End Use, and Country, 2024 - 2031
    3. 10.5 Regional Trends Analysis
    4. 10.6 Asia-Pacific Phosphorus Pentasulphide Market Research Report - Company Profiles
      1. 10.6.1 Company 1 (China)
      2. 10.6.2 Company 2 (Japan)
      3. 10.6.3 Company 3 (Japan)
    11. Latin America Phosphorus Pentasulphide Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 11.1 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.1.1 Lubricant Additives
      2. 11.1.2 Agrochemical Intermediates
      3. 11.1.3 Battery Electrolytes
      4. 11.1.4 Mining Flotation Agents
      5. 11.1.5 Others
      11.2 By End Use Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.2.1 Industry Automotive & Industrial Lubricants
      2. 11.2.2 Agriculture
      3. 11.2.3 Battery Manufacturing
      4. 11.2.4 Mining & Metallurgy
      5. 11.2.5 Others
      11.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.3.1 Brazil
      2. 11.3.2 Mexico
      3. 11.3.3 Argentina
      4. 11.3.4 Peru
      5. 11.3.5 Colombia
      6. 11.3.6 Rest of Latin America
    2. 11.4 Latin America Phosphorus Pentasulphide Market – Opportunity Analysis Index, By Application, By End Use, and Country, 2024 - 2031
    3. 11.5 Regional Trends Analysis
    4. 11.6 Latin America Phosphorus Pentasulphide Market Research Report - Company Profiles
      1. 11.6.1 Company 1 (Brazil)
      2. 11.6.2 Company 2 (Mexico)
      3. 11.6.3 Company 3 (Mexico)
    12. Middle East and Africa Phosphorus Pentasulphide Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 12.1 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.1.1 Lubricant Additives
      2. 12.1.2 Agrochemical Intermediates
      3. 12.1.3 Battery Electrolytes
      4. 12.1.4 Mining Flotation Agents
      5. 12.1.5 Others
      12.2 By End Use Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.2.1 Industry Automotive & Industrial Lubricants
      2. 12.2.2 Agriculture
      3. 12.2.3 Battery Manufacturing
      4. 12.2.4 Mining & Metallurgy
      5. 12.2.5 Others
      12.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.3.1 Saudi Arabia
      2. 12.3.2 UAE
      3. 12.3.3 South Africa
      4. 12.3.4 Egypt
      5. 12.3.5 Israel
      6. 12.3.6 Rest of Middle East and Africa
    2. 12.4 Middle East and Africa Phosphorus Pentasulphide Market – Opportunity Analysis Index, By Application, By End Use, and Country, 2024 - 2031
    3. 12.5 Regional Trends Analysis
    4. 12.6 Middle East and Africa Phosphorus Pentasulphide Market Research Report - Company Profiles
      1. 12.6.1 Company 1 (Saudi Arabia)
      2. 12.6.2 Company 2 (UAE)
      3. 12.6.3 Company 3 (UAE)
    13. Competition Landscape
    1. 13.1 Strategic Dashboard of Top Market Players
    2. 13.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)
      1. 13.2.1 ICL Group Ltd.
      2. 13.2.2 Chemtrade Logistics Inc.
      3. 13.2.3 Hubei Xingfa Chemicals Group Co. Ltd.
      4. 13.2.4 ISK Synthetics Limited
      5. 13.2.5 Santai Aostar Phosphorus Chemical Industry Co. Ltd.
  1. 14. Data Collection Method and Research Approach
  2. 15. Principal Presumptions and Acronyms