Ammonium Phosphate Market Global Industry Expected to Grow at 3.6% CAGR During 2016 – 2022
The major factors driving the growth of the market globally include its increasing use in animal feed and industrial applications, and growing agriculture industry in the emerging nations.
The major factors driving the growth of the market globally include its increasing use in animal feed and industrial applications, and growing agriculture industry in the emerging nations. Asia-Pacific is anticipated to create significant growth opportunities for the growth of the global ammonium phosphate market. The significant growth of the end-user industries, such as food and beverages, and agriculture in the region is catalyzing the demand of ammonium phosphate. The continuous investment in these industries is also expected to drive the demand for ammonium phosphate in Asia-Pacific. The growing demand for food and food products, along with increasing population is expected to augment the growth of the agricultural industry, which in turn is expected to boost the growth of the ammonium phosphate market during the forecast period.
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Based on product type, the global ammonium phosphate market is segmented into monoammonium phosphate (MAP), diammonium phosphate (DAP) and ammonium polyphosphate. The diammonium phosphate (DAP) segment accounted for the largest market share among the various products in the global ammonium phosphate market in 2015. The major factors driving the growth of the DAP segment is its widespread use in fertilizers. DAP commonly helps in regulating pH levels in soil, thereby enhancing the quality of soil and boosting crop yield. MAP is mostly utilized as a food additive and emulsifier in the food and beverages industry.
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Some of the major competitors in the ammonium phosphate market include Lanxess AG, Jordan Phosphate Mines Company, EuroChem MCC, Solvay S.A., Ma’aden-Saudi Arabian Mining Company, Prayon SA, Italmatch Chemicals S.p.A, Israel Chemicals Ltd., UPL Limited, and Potash Corp. of Saskatchewan Inc.
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Jan 05, 2017