global ammonium phosphate market to witness 3.6% cagr during 2016 – 2022
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Global Ammonium Phosphate Market to
Witness 3.6% CAGR During 2016 – 2022
According to a new market research report “Global Ammonium Phosphate MarketSize, Share, Development, Growth and Demand Forecast to 2022 - Industry Insightsby Type (Monoammonium Phosphate, Diammonium Phosphate, AmmoniumPolyphosphate) and by Application (Fertilizer, Flame Retardant, Water TreatmentChemicals, Food and Beverages and Others)” published by P&S Market Research,the global ammonium phosphate market is projected to reach $45,265.4 million by2022, 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
As per the research, the global market for ammonium phosphate is likely togrow from $35,696.3 million in 2015 to $45,265.4 million by 2022. Some ofthe major factors driving the growth of the global ammonium phosphatemarket include growing agriculture industry in the emerging economies,increasing demand for water treatment and increasing use in industrialapplications. The consistent investment in the food and beverage andagriculture industries would impact the demand for ammonium phosphatein the Asia-Pacific region. The growing demand for food and food productsdue to increase in population is expected to boost the growth of theagriculture industry, which in turn is expected to fuel the growth of theglobal market for ammonium phosphate during the forecast period.
Global ammonium phosphate market worth $35,696.3 million in 2015
Global Ammonium Phosphate Market
As per the findings of research, the fertilizer industry has been globally thelargest applications segment of the ammonium phosphate market. Flameretardant is expected to be the fastest growing application segment in theglobal market for ammonium phosphate during the forecast period.
Insights on market segments
Global 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 ammoniumphosphate. The increasing demand for fertilizers and increasing investment inagricultural industry are some of the major growth driving forces in the Asia-Pacificammonium phosphate market in countries such as India and China. China was thelargest market for ammonium phosphate in the region in terms of volume and valuein 2015. The increasing concern of government in developing countries regardingprovision of safe drinking water to their citizens is expected to drive the growth ofthe market for water treatment chemicals in the region. This in turn is expected toincrease the demand for ammonium phosphate in the region. In North America, theU.S. was the largest consumer of ammonium phosphate in North America. SouthAmerica includes some emerging markets for ammonium phosphate such as Brazil.The growing agricultural industry and water treatment chemicals industry are someof the major factors driving the growth of the ammonium phosphate market in theregion.
Asia-Pacific stand as the largest ammonium phosphate market
Global Ammonium Phosphate Market
Ammonium phosphate is used as a source for nitrogen and phosphorus for proper growth of thecrops. Ammonium phosphate helps deliver nitrogen and phosphorus nutrient to the soil in anabsorbable form for the plant roots. Owing to the growing agricultural industry in emergingeconomies and increasing demand for water treatment, the market for ammonium phosphate isgaining 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 inagricultural industry in India and China. The high production growth of animal feed products inAsian countries such as India, China and South Korea is expected to provide significantopportunities for the growth of ammonium phosphate market in the region. The increasinginvestment by significant farming driven economies such as India and Brazil is expected to bringabout a considerable demand for ammonium phosphate during the forecast period. Moreover,increasing promotion of foreign direct investment (FDI) in the agricultural industry is expected toresult in advocating the use of new technologies by enhancing knowledge of farmers regardingbetter utilization of fertilizers. These factors are expected to boost the demand of globalammonium phosphate market during the forecast period.
Analysts observed that major investment shift towards Asia-Pacific region which is expected topropel the growth of the global market during the forecast period. The significantindustrialization, especially in the industries such as agriculture and food and beverages, isboosting the demand for ammonium phosphate in the Asia-Pacific region.
Growing agriculture industry in emerging economies bolsters market growth
Global Ammonium Phosphate Market
The research states that the global market for ammonium phosphate had aconsolidated structure in 2015, where the top three competitors accountedfor a major share of the market. Some of the key players in the globalmarket for ammonium phosphate include Lanxess AG, Jordan PhosphateMines Co. Plc, EuroChem Group AG, Solvay S.A., Saudi Arabian MiningCompany (Ma’aden), Prayon SA, Italmatch Chemicals S.p.A, Israel ChemicalsLtd., United Phosphorus Limited and Potash Corp. of Saskatchewan Inc.
Product launches and strategic partnerships have been the major recentdevelopments in the global ammonium phosphate market. Prayon, IsraelChemicals Limited and EuroChem Group AG are some of the major playersin the market announcing partnerships and mergers.
Top three players account for major market share
Global Ammonium Phosphate Market
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