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Overview:
The global report covering the Ammonium Phosphate Market is set to surpass a production valuation of 84,500 KT by having a moderate CAGR of 3.65% over a period covering 2023 to 2030. Market Research Future (MRFR) identifies the time frame as the forecast period. Ammonium phosphate formula is (NH4)3PO4. The global market for ammonium phosphate is permeating across several industries in multiple forms like solid, dry powder, liquid, and pellet crystal. Ammonium phosphate uses across areas like fertilizers, fire department, electronics, animal feed, and food & beverages are all set to provide a tailwind for growth. Ammonium Phosphate molar mass is 149.09 g/mol. Growing use of the fertigation process can also make sure that the market for ammonium phosphate gains better expansion possibilities.
However, ammonium phosphate is also known for its toxic fumes. Overuse of ammonium phosphate fertilizer can negatively impact the arable land, which is why countries are banning its use.
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Segmentation Analysis
The global report on the ammonium phosphate market, as published by MRFR, can be segmented on the basis of type and application. These segments are known for their extensive coverage of various factors and inputs. This would help in having insights and planning market strategies accordingly.
By type, the global market report on the ammonium phosphate has been segmented into di-ammonium phosphate (DAP), mono-ammonium phosphate (MAP), and ammonium polyphosphate. These segments are known for their specific consumers and can produce substantial revenue in the coming years.
By application, the global market report on the ammonium phosphate has been segmented into animal feed, fertilizer, food & beverages, water treatment, flame retardant, and others. The food & beverage industry, along with the water treatment segment is expected to launch high growth for the global market. The water treatment segment would gain much traction from the rapidly increasing urbanization.
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Regional Analysis
The Asia-Pacific market is showing promises of retaining its dominance during the forecast period, all the while maintaining the highest CAGR. This growth can be attributed to the high number of arable lands in several agrarian economies. Increasing industrialization is also a major reason that is providing a tailwind to the growth of the market. China, India, Japan, Indonesia, Malaysia, are some countries from the region with huge promises for growth. Hike in urbanization is promoting a strong demand for water treatment plants owing to which the market would register better growth. China’s contribution would be substantial.
North America had the second spot in 2018 and it is getting traction from the better implementation of various irrigation plans. But the market finds an obstacle in the growing rejection of chemicals from the agricultural sector, which can prevent the market from achieving a decent growth. The US is one of the leading ammonium phosphate producers and it is getting backup from the cultivation of soybean and corn crops. In Europe, stringent regulations are a drawback for the market as most of the countries are reducing their application of ammonium phosphate.
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Competitive Landscape:
The global ammonium phosphate market has the chance of benefiting from the growing inclusion of strategies launched by companies showing interest in the market. These companies are known for their recent contributions in the market and have been studied to assess the possibilities of market growth in the coming years. These players are Nutrien Ltd (Canada), OCP (Morocco), Haifa Group (Israel), Coromandel International Limited (India), Prayon SA (Belgium), Chemische Fabrik Budenheim KG (Germany), Yunnan Yuntianhua International Chemical Co., Ltd (China), Innophos, Inc. (China), Forbes Pharmaceuticals (India), Maaden – Saudi Arabian Mining Company (Saudi Arabia), and The Mosaic Company (US).
In August 2019, the Egyptian government announced the inauguration of a phosphate and compound fertilizer complex in Ain Sokhna. This is the largest one in the Middle East & Africa region and would produce ammonium phosphate among many other chemicals.
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