The P2 molecule of phosphorus is not found because of the larger size of the phosphorus atom. The phosphorus is so larger that the p-orbitals which are required to overlapp sideways , are unable to overlapp sufficiently to make a pie bond.
Below is the structure of oxygen atom that is showing π-bond


But phosphorus have a tendency to show catenation. And because of catination it can join with its own atoms and make covalent bonds. and thus it makes P4 molecule.
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