Global demand for ammonium phosphate remains upheld by increasing utilization in fire control applications. Despite environmental implications, excessive usage of ammonium phosphate in fertilizers will continue to influence the market growth over the forecast period (2019-2029). Moreover, demand for ammonium phosphate-based fertilizers has been on an upswing, owing to increasing requirements for improved yield.
Having outperformed revenues of US$ 40 Bn in 2018, the ammonium phosphate market is anticipated to witness significant development over the forecast period. Additionally, the role of ammonium phosphate as an acidity regulator and the firming agent is fueling the market growth. The global ammonium phosphate market is expected to exhibit a CAGR of 3.3% during the predefined timeframe.
For more insights into the Market, request a sample of this report@https://www.futuremarketinsights.com/reports/sample/rep-gb-1469
Key Takeaways of the Ammonium Phosphate Market Study
- Fire extinguishers are installed in majorly frequented areas including homes, offices, and schools. Flame retardant applications employ monobasic ammonium phosphate that is a crucial component in fire extinguishers based on dry chemical powder. Ammonium phosphate discontinues the oxygen supply and builds a coating over the source thus restraining the fire.
- Monobasic ammonium phosphate is present in pressurized build in the fire extinguishers. These are additionally the most ordinarily employed fire extinguishers, especially in homes.
- These fire extinguishers are increasingly utilized to manage electrical fires or fires generated from grease, combustible substances or gasoline, for instance, wood.
- Mono-ammonium phosphate (MAP) is an important ingredient for fertilizers. The water solubility and pH regulation are two majorly south-after properties of MAP. Farmers continue to prefer ammonium phosphate for healthy and sustained plant growth. The increased need for MAP in high-pH soils is chiefly boosting the market.
- Suspension fertilizers are utilized majorly in powdered form. Additionally, MAP has good storage and handling attributes which are furthering its need among customers.
- The continuing debate over the probable environmental impact of ammonium phosphate-based fertilizers is restricting the market growth.
Asia Pacific’s Market to Take the Lead Through 2029
Ever-increasing population in APAC has directed towards an upheaval in need of fertilizers in the region. Most of the demand for ammonium phosphate will be generated from nations such as China and India. Additionally, rising number of fertilizer plants in the region is complementing the market growth.
The ammonium phosphate market in North America and Europe is anticipated to witness comparatively moderate growth the assessment period. Strict regulatory norms concerning the usage of inorganic fertilizers are hampering the regional market growth.
For any queries linked with the report, ask an analyst@https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-1469
Joint Ventures Remain Key Focus Area of Market Players
A few of the market participants featured in this research are Solvay S.A., Lanxess AG, OCP SA, Wengfu Group, Jordan Phosphate Mines Company, Yara International ASA, Nutrien Ltd., Coromandel International Ltd., Haifa Group, Forbes Pharmaceuticals, Innophos, Jordan Phosphate Mines Company, Prayon SA, and Israel Chemicals Ltd.
Most advanced companies proceed to form ventures for global operational growth. For example, a state-owned fertilizer firm of India, National Fertilizers, declared joint venture with an Algerian company to make a Di-ammonium Phosphate plant in the nation. Market participants must shift their focus towards the APAC region due to the enormous requirement for ammonium phosphate.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition
Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): + 44-(0)-20-7692-8790
Press Office: Press@futuremarketinsights.com