Oct 2, 2020 8:00 PM ET
iCrowd Newswire – Oct 2, 2020
Zion Market Research has published a new report titled “Ammonium Phosphates Market (Mono-Ammonium Phosphate (MAP), Di-Ammonium Phosphate (DAP) and Ammonium Polyphosphate) for Food and Beverages, Fertilizer, Flame Retardant, Water Treatment Chemicals, and Others – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021.” According to the report, global ammonium phosphates market was valued at USD 35.58 billion in 2015, is expected to reach USD 43.48 billion in 2021 and is anticipated to grow at a CAGR of 3.4% between 2016 and 2021.
Di-Ammonium Phosphate (DAP) and Mono-Ammonium Phosphate (MAP) are the two major product types of ammonium phosphates. Di-ammonium phosphate (DAP) fertilizer is a tremendous source of phosphorous (P) and nitrogen (N) for crop nutrition. DAP is highly soluble and thus dissolves quickly in soil to release phosphate and ammonium. It also acts as a fire retardant. A combination of Di-ammonium phosphate and other components can be spread in advance of a fire to prevent a forest from burning. Mono-Ammonium Phosphate (MAP) is used in dry chemical fire extinguishers commonly found in schools, offices, and homes. These sprays disperse powdered MAP, which coats the fuel and rapidly repress the fire.
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Global ammonium phosphate market is expected to witness significant growth over the forecast period owing to its increasing use in end user industries and in animal feed. The rise in the use of ammonium phosphates in end-user industries such as water treatment chemicals, detergent and soaps, metal finishing chemicals, and food & beverage are key factors driving the demand for ammonium phosphates. However, growing demand for fertilizers in agriculture-driven economies of the world is expected to exhibit fastest growth rate (CAGR) as compared to other applications. Moreover, rising investment by major agriculture-driven countries such as India is also expected to boost the demand for ammonium phosphates market in the forecast period.
Product type segment includes mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP) and ammonium polyphosphate. DAP was a leading segment among the other products in the global ammonium phosphates market in 2015. DAP commonly helps in regulating pH levels in soil, thereby enhancing the quality of soil and boosting crop yield. On the basis of application ammonium phosphates market is segmented into fertilizer, food and beverages, water treatment chemicals flame retardant, and others. The flame retardant segment is expected to witness strong growth in upcoming years owing to growing awareness regarding safety worldwide and implementation of strict guidelines by regulatory authorities.
The Asia-Pacific was the largest regional market for ammonium phosphates in 2015. It accounted for around 50% share of the global market in 2015. Demand for ammonium phosphates in Asia Pacific is mainly driven by strong demand from the agriculture industry. However, North America is expected to increase ammonium phosphates demand to owe to the reformation of government rules on the use of fertilizer in the agriculture industry.
Global ammonium phosphate market is highly competitive, with the presence of well-established global vendors. Some prominent market players operating in this market includes Lanxess AG, Solvay S.A., CF Industries Holdings, Inc., Ma’aden-Saudi Arabian Mining Company, OCP SA, Prayon SA, Yidu Xingfa Chemicals Company Limited, Jordan Phosphate Mines Company, Chemische Fabrik Budenheim KG, Yuntianhua Group Company Limited, Hubei Xingfa Chemicals Group Co., Ltd., Wengfu Group, and Vale S.A.
The report segments the global ammonium phosphates market as:
Global Ammonium Phosphates Market: Product Segment Analysis
- Mono-Ammonium Phosphate (MAP)
- Di-Ammonium Phosphate (DAP)
- Ammonium Polyphosphate
Global Ammonium Phosphates Market: Application Segment Analysis
- Food and Beverages
- Flame Retardant
- Water Treatment Chemicals
Global Ammonium Phosphates Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
To view TOC of this report – https://www.zionmarketresearch.com/toc/ammonium-phosphates-market
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Keywords: Gobal Ammonium Phosphates Market