Future Market Insights, Dubai: FMI states in its recent study on the ammonium phosphates market that the market will record a CAGR of 3.3% through 2029. Demand for ammonium phosphate is expected to continue to increase especially due to the surge in sales of fertilizers across all regions of the world.
“Premier companies in ammonium phosphate market are focused on geographic and operational expansion for a greater market foothold. Manufacturers need to divert their resources towards the Asia Pacific market where the use of ammonium phosphate based fertilizers is still prevalent.“ says the FMI analyst.
Ammonium phosphate Market – Important Highlights
- According to product type, Demand for Mono-ammonium Phosphate is anticipated to Remain important in Fertilizers
- The Asia Pacific is expected to dominate the market due to the upheaval in demand for fertilizers in the region.
- Europe and North America will see moderate growth in the ammonium phosphate market by 2029.
Ammonium phosphate Market – Drivers
- The fertilizer industry accounts for a large market for ammonium phosphate which is a key market driver.
- The growing uptake of ammonium phosphate in fire extinguishers is driving growth in the industry.
- Favorable government projects and funding around the world for the setup of safety equipment across schools and workplaces are encouraging market growth.
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Ammonium phosphate Market – Restraints
- In developed regions such as America and Europe, the limited need for organic fertilizers would restrict the development of the market for ammonium phosphate.
- Demand growth is expected to be impeded by the harmful effects of overfertilization of inorganic fertilizers containing ammonium phosphate.
COVID-19 Impact on Ammonium phosphate Market
The ammonium phosphate market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic. The ammonium phosphate market growth declined drastically when the manufacturing units experienced shutdowns for months and a deficiency in raw materials supply and shortage of human resources. But the market is expected to have a turnaround as economies steadily stabilize.
Major stakeholders in ammonium phosphate must renew their focus towards Asia Pacific market which continues to remain the growth epicentre on account of heightened demand for fertilizers.
Demand for Mono-ammonium Phosphate to Remain Rampant in Fertilizers
Mono-ammonium Phosphate (MAP) is a chief component of granular fertilizer. The pH regulation and water solubility are two most sought-after attributes of MAP. Farmers continue to prefer ammonium phosphate for sustained and healthy growth of plants. The augmented demand for MAP in high-pH soils is particularly fuelling the market.
In suspension fertilizers, ammonium phosphate is used in powdered form. Moreover, MAP has good handling and storage properties which are boosting its demand among consumers. However, the ongoing debate over the potential environmental impact of ammonium phosphate based fertilizers is limiting the market growth.
Ammonium Phosphate Market: Segmentation
Product Type
- Mono-ammonium Phosphate (MAP)
- Di-ammonium Phosphate (DAP)
- Ammonium Polyphosphate
Application
- Fertilizers
- Fire Extinguishers
- Food & Beverages
- Water Treatment Chemicals
- Detergents & Soaps
Region
- North America
- Latin America
- Europe
- MEA
- Asia Pacific
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Competitive Landscape
The ammonium phosphate market players are leaning towards the expansion of the production facilities besides opting for planned and strategic collaborations to gain a competitive edge. On a global basis, the business structure of the ammonium phosphate industry is consolidated by default. In developed economies, however, the need for inorganic fertilizers tends to stagnate. Thus, manufacturers need to redirect their money to the Asia Pacific market, where the use of fertilizers dependent on ammonium phosphate is still prevalent. OCP SA, Wengfu Group, Yara International ASA, Solvay S.A., Coromandel International Ltd., Lanxess AG, Nutrien Ltd., Jordan Phosphate Mines Company, and Haifa Group are the primary producers featured in this report.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Global Ammonium Phosphate Market Demand Analysis 2014-2018 and Forecast, 2019-2029
3.1. Historical Market Volume (Tons) & Value (Tons) Analysis, 2014-2018
3.2. Current and Future Market Value (Tons) & Volume (Tons) Projections, 2019-2029
3.3. Y-o-Y Growth Trend Analysis
4. Global Ammonium Phosphate Market – Pricing Analysis
TOC continued…!
Related Links
https://theprose.com/post/620979/fixing-agent-market-size-share-demand-growth-trends-by-2032
https://gettr.com/post/p28fyw6b3db
https://anotepad.com/notes/2wnwrqqi
https://careero.mn.co/posts/32572477
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