The Global Potassium Phosphate Market is forecast to reach USD 399.6 Million by 2027, according to a new report by Reports and Data. Potassium Phosphate is an odorless hygroscopic crystalline common granular potassium salt chemically bonded with phosphate ions, which is manufactured by complete neutralization of phosphoric acid with a high purity potassium hydroxide and potassium carbonate and subsequent crystallization. Potassium phosphate is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive with a distinctive E-Number of E340. The global market is growing at a substantial pace due to the growing demand for potassium phosphate in food processing applications and kidney ailments. An escalation in the number of uric acid & calcium kidney stone diseases and disorders in urination has actively uplifted the demand for potassium phosphate.
The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at a significant pace due to the extensive use of potassium phosphate in various industry verticals. China and India are some of the fastest-growing markets in the world, while the Netherlands and the United States hold some of the most prominent players in the market.
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Key participants include BASF SE, Evonik Industries AG, Baker Hughes Incorporated, Huangshi Xinghua Biochemical Co., Ltd., Cargill, Incorporated, Dr. Paul Lohmann GmbH KG, Tate & Lyle PLC, Jungbunzlauer Suisse AG, American Tartaric Products, and FBC Industries, among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented the global Potassium Phosphate market on the basis of distribution channel, application, end-use verticals, and region:
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
Application Outlook (Revenue, USD Million; 2016-2027)
End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)
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Regional analysis section covers analysis of the Potassium Phosphate market in the major geographies of the world including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa with regards to production and consumption pattern, supply and demand ratio, import/export, revenue contribution, market share and market size, and presence of key players in the region.
Detailed Regional Analysis Covers:
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