According to a new market research report “Global Ammonium Phosphate Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Monoammonium Phosphate, Diammonium Phosphate, Ammonium Polyphosphate) and by Application (Fertilizer, Flame Retardant, Water Treatment Chemicals, Food and Beverages and Others)” published by P&S Market Research, the global ammonium phosphate market is projected to reach $45,265.4 million by 2022, growing at a CAGR of 3.6% during 2016 - 2022.
Explore Report Description at: https://www.psmarketresearch.com/market-analysis/ammonium-phosphate-market
Global ammonium phosphate market worth $35,696.3 million in 2015
As per the research, the global market for ammonium phosphate is likely to grow from $35,696.3 million in 2015 to $45,265.4 million by 2022. Some of the major factors driving the growth of the global ammonium phosphate market include growing agriculture industry in the emerging economies, increasing demand for water treatment and increasing use in industrial applications. The consistent investment in the food and beverage and agriculture industries would impact the demand for ammonium phosphate in the Asia-Pacific region. The growing demand for food and food products due to increase in population is expected to boost the growth of the agriculture industry, which in turn is expected to fuel the growth of the global market for ammonium phosphate during the forecast period.
Insights on market segments
As per the findings of research, the fertilizer industry has been globally the largest applications segment of the ammonium phosphate market. Flame retardant is expected to be the fastest growing application segment in the global market for ammonium phosphate during the forecast period.
Asia-Pacific stand as the largest ammonium phosphate market
Geographically, Asia-Pacific has been the largest market for ammonium phosphate, where the China has been the largest contributor to the regional market. India, Australia and Thailand are considered among emerging markets for ammonium phosphate. The increasing demand for fertilizers and increasing investment in agricultural industry are some of the major growth driving forces in the Asia-Pacific ammonium phosphate market in countries such as India and China. China was the largest market for ammonium phosphate in the region in terms of volume and value in 2015. The increasing concern of government in developing countries regarding provision of safe drinking water to their citizens is expected to drive the growth of the market for water treatment chemicals in the region. This in turn is expected to increase the demand for ammonium phosphate in the region. In North America, the U.S. was the largest consumer of ammonium phosphate in North America. South America includes some emerging markets for ammonium phosphate such as Brazil. The growing agricultural industry and water treatment chemicals industry are some of the major factors driving the growth of the ammonium phosphate market in the region.
Growing agriculture industry in emerging economies bolsters market growth
Ammonium phosphate is used as a source for nitrogen and phosphorus for proper growth of the crops. Ammonium phosphate helps deliver nitrogen and phosphorus nutrient to the soil in an absorbable form for the plant roots. Owing to the growing agricultural industry in emerging economies and increasing demand for water treatment, the market for ammonium phosphate is gaining traction. The ammonium phosphate market is expected to grow significantly in the Asia-Pacific region owing to the increasing demand for fertilizers and increasing investment in agricultural industry in India and China. The high production growth of animal feed products in Asian countries such as India, China and South Korea is expected to provide significant opportunities for the growth of ammonium phosphate market in the region. The increasing investment by significant farming driven economies such as India and Brazil is expected to bring about a considerable demand for ammonium phosphate during the forecast period. Moreover, increasing promotion of foreign direct investment (FDI) in the agricultural industry is expected to result in advocating the use of new technologies by enhancing knowledge of farmers regarding better utilization of fertilizers. These factors are expected to boost the demand of global ammonium phosphate market during the forecast period.
Analysts observed that major investment shift towards Asia-Pacific region which is expected to propel the growth of the global market during the forecast period. The significant industrialization, especially in the industries such as agriculture and food and beverages, is boosting the demand for ammonium phosphate in the Asia-Pacific region.
Top three players account for major market share
The research states that the global market for ammonium phosphate had a consolidated structure in 2015, where the top three competitors accounted for a major share of the market. Some of the key players in the global market for ammonium phosphate include Lanxess AG, Jordan Phosphate Mines Co. Plc, EuroChem Group AG, Solvay S.A., Saudi Arabian Mining Company (Ma’aden), Prayon SA, Italmatch Chemicals S.p.A, Israel Chemicals Ltd., United Phosphorus Limited and Potash Corp. of Saskatchewan Inc.
Product launches and strategic partnerships have been the major recent developments in the global ammonium phosphate market. Prayon, Israel Chemicals Limited and EuroChem Group AG are some of the major players in the market announcing partnerships and mergers.
GLOBAL AMMONIUM PHOSPHATE MARKET SEGMENTATION