Ammonium Phosphate Consumption Buoyed by Fire Retardant Application; Fertilizer Industry Remains a Consistent Value Creator: FMI
The projected growth rate of ammonium phosphate market is approximately 3.3% over the course of forecast period (2019-2029). The demand from fertilizers segment remains steady and even surges in emerging economies. Other end-use industries such as electronics and optics are complementing the growth of ammonium phosphate market.
Ammonium Phosphates Market
A recent market study published by Future Market Insights on the ammonium phosphate market...
Key Takeaways of Ammonium Phosphate Market Study
- Fertilizers industry accounts for substantial ammonium phosphate demand.
- Rising uptake of ammonium phosphate in fire extinguishers is propelling the market growth.
- Gains in ammonium phosphate market to remain consolidated in Asia Pacific.
- Europe and North America ammonium phosphate market will witness modest growth through 2029.
- Demand for organic fertilizers will limit the growth of ammonium phosphate market in developed regions.
Major stakeholders in ammonium phosphate must renew their focus towards Asia Pacific market which continues to remain the growth epicentre on account of heightened demand for fertilizers.
Asia Pacific Acquires 32.6% Revenue Share in Ammonium Phosphate Market
Demand upsurge for fertilizers owing to increasing population is boosting the ammonium phosphate market in Asia Pacific. The predominant markets for ammonium phosphate are China and India. On that premise, Asia Pacific constitutes approximately 32.6% revenue share in ammonium phosphate market.
On the other hand, consumers in Europe and North America have growing inclination towards organic fertilizers. The ammonium phosphate market growth in these two regions will be relatively sluggish on that account. Moreover, stricter environmental norms in developed economies will hamper the growth of regional ammonium phosphate market.
Geographic Expansion Remains Chief Strategic Tenet of Global Players
The competitive landscape of ammonium phosphate market is consolidated in nature at the global level. However, in certain regions, it remains fragmented with proliferation of SMEs. Key manufacturers featured in this study include, but are not limited to, are OCP SA, Wengfu Group, Yara International ASA, Solvay S.A., Coromandel International Ltd., Lanxess AG, Nutrien Ltd., Jordan Phosphate Mines Company, and Haifa Group.
Premier companies in ammonium phosphate market are focused on geographic and operational expansion for greater market foothold. However, the demand for inorganic fertilizers continues to stagnate in developed economies. Manufacturers thus need to divert their resources towards Asia Pacific market where use of ammonium phosphate based fertilizers is still prevalent.
More about the Report
FMI’s study offers an in-depth market forecast and analysis on the global ammonium phosphate market. The major categories encompassed by the report include product type (mono-ammonium phosphate, di-ammonium phosphate, and ammonium polyphosphate), application (fertilizers, food & beverages, fire extinguishers, detergents & soaps, and water treatment chemicals) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).
For additional insights on how the market will shape up through 2029, write to email@example.com
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The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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