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.
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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.
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.
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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
- Diammonium phosphate (DAP)
- Monoammonium phosphate (MAP)
- Ammonium polyphosphate (APP)
- Flame retardant
- Water treatment chemicals
- Food and beverages
- Rest of Asia-Pacific
- North America
- Rest of North America
- South America
- Rest of South America
- Rest of Europe
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of MEA
This post was originally published on Financial Sector