NEW YORK, Feb. 20, 2018 (GLOBE NEWSWIRE) -- The global ammonium phosphate market is expected to grow at a CAGR of 3.4% during 2017 – 2023 to reach USD 45,357 Million by 2023. Factors propelling the growth of the global ammonium phosphate market include growing agricultural industries in emerging economies and increasing requirement for water treatment. Additionally, increasing demand for ammonium phosphate in industrial applications is further boosting the growth of the global ammonium phosphate market. The report segments the global ammonium phosphate market by Type (Mono-Ammonium Phosphate, Di-Ammonium Phosphate, and Ammonium Polyphosphate), by Application (Fertilizer, Flame Retardant, Water Treatment Chemicals, Food and Beverages, and Others) and by Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report studies the global ammonium phosphate market over the forecast period (2017-2023).
Ammonium phosphates are inorganic salts formed by the reaction between ammonia and phosphoric acid. They are produced as solids and fluids and they may contain phosphate values in ortho- (usually solid) and/or polyphosphate (usually fluid). The solid form of ammonium phosphate products is more common than the liquid form. Ammonium phosphates are highly unstable and are usually produced in long-chain molecules to improve stability.
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Key Findings from Global Ammonium phosphate Market
- Global ammonium phosphate market was valued at USD 35,892 Million, in 2016
- On the basis of type, Di-ammonium phosphate (DAP) segment was holding the largest market share for the global ammonium phosphate market in terms of value and volume, in 2016 owing to its extensive use in fertilizers
- On the basis of application, fertilizer segment held the major share of the global ammonium phosphate market, in 2016 and is anticipated to dominate the market throughout the forecast period. Ammonium phosphates are widely used as a source of nitrogen and phosphorous which are essential for plant growth
- Geographically, Asia-Pacific was holding the largest market share for ammonium phosphate, in 2016 and is anticipated to dominate the market, throughout the forecast period. The demand for ammonium phosphate in this region is majorly driven by high demand from the agriculture sector
- Key players in the global ammonium phosphate market are Solvay S.A., Lanxess AG, 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, EuroChem Group AG, Italmatch Chemicals S.p.A, Yara International ASA among others
Ammonium Phosphate- DAP Advantage
Ammonium phosphate market is anticipated to witness a significant growth over the forecast period owing to its major share in the fertilizer industry. DAP was holding the major share of ammonium phosphate market in 2016. DAP fertilizer is an excellent source of phosphorous and nitrogen which are essential for plant nutrition. The high solubility of DAP allows it to dissolve quickly in soil to release plant-available phosphate and ammonium. Additionally, the ammonium present in DAP is an excellent source of nitrogen which gradually gets converted into nitrate by soil bacteria, leading to a subsequent drop in pH level, thus boosting the crop growth. With increasing global population and rapid urbanization, it is necessary to produce more crops from the limited cultivable lands to meet the global demand for food. The properties of di-ammonium phosphate favoring crop production are expected to boost the global ammonium phosphate market.
Ammonium Phosphate Market- Regional Insight
Asia-Pacific was holding the largest share of the global ammonium phosphate market, in terms of value and volume, in 2016 and is anticipated to lead the market, throughout the forecast period. China accounted for the major share of Asia-Pacific’s ammonium phosphate market followed by India. High demand for ammonium phosphate in the region is attributed to the growing agriculture industry. North America was the second largest market for ammonium phosphate. The U.S. was the major consumer of ammonium phosphate accounting for more than 70% share in the North American market. The demand for ammonium phosphate in North America is anticipated to increase over the forecast period owing to improved reforms by the government on the consumption of fertilizers in crops. In South America, Brazil is an emerging market for ammonium phosphate. The growing agriculture and water treatment chemicals industries are expected to boost the ammonium phosphate market in the region.
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