Global Ammonium Phosphate Market Report, published by Variant Market Research, forecast that the global market is expected to reach $49.3 billion by 2024 from $36.6 billion in 2016; growing at a CAGR of 3.8% from 2016 to 2024. In terms of volume, the market was valued at 67.3 billion tons in 2016 and expected to reach 95 billion tons by 2024, at a CAGR of 4.4% from 2016-2024.
"Ammonium Phosphate Market (By Type: Mono-Ammonium Phosphate (MAP), Di-Ammonium Phosphate (DAP), and Ammonium Polyphosphate; By Application: Fertilizer, Flame Retardant, Water Treatment Chemicals, Food & Beverages, and Other Applications; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Ammonium phosphates have numerous applications such as flame retardant, water treatment chemicals, fertilizers, and foods & beverages. Ammonium phosphates are offered by manufacturing companies in many types such as mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP) & ammonium polyphosphate. Rapid growth of end-use industries is predicted to increase the growth of ammonium phosphate market during the forecasted period.
Numerous industrial applications of ammonium phosphatesto drive the growth ofthe global ammonium phosphatemarket
The factors supporting growth of the global ammonium phosphate market are high demand of flame retardants, increasing adoption of fertilizers in agriculture-driven countries of the world, numerous industrial applications of ammonium phosphates, and rising investment by key agriculture-driven countries. However, stringent rules against the usage of chemical fertilizers may act as a restraint for the growth of the market. Moreover, development of formulations for effective methods as drip irrigation and fertigation which have minimal use of fertilizers, and growing agriculture sector would provide several growth opportunities for the market in the future.
Type, application, and geography are the major segments of the global ammonium phosphate market. By type, market is bifurcated into as mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP), and ammonium polyphosphate. The market is categorized by application into fertilizer, flame retardant, water treatment chemicals, food & beverages, and other applications. Based on geography, the global ammonium phosphate market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Di-ammonium phosphate (DAP)accounted for the largest market share in the type segment
Di-ammonium phosphate (DAP) accounted for the largest market share in 2016, in the type segment, and is expected to continue its dominance during the forecast period 2016 – 2024, owing to, the robust industrial development, rising investments for the food and agriculture in the developing regions such as India and China.
Fertilizer accounted for the largest market share in the application segment
Global Ammonium Phosphate Market, by Application
In the application segment, fertilizer accounted for the largest market share in 2016, and are expected to continue its dominance during the forecast period 2016 – 2024, as they are easily soluble to fulfill the necessities of phosphate and ammonia of soil.
Asia-Pacificdominated the global market with highest market share over the forecast period
GLOBAL AMMONIUM PHOSPHATE MARKET SHARE BY GEOGRAPHY, 2016 (%)
Asia-Pacific dominated the global ammonium phosphate market with largest market share of 62.8% in 2016, and expected to continue the trend during the forecasted period, owing to growing ammonium phosphate demand due to efforts associated to improving agriculture sector.
The key players operating in the market are CF Industries Holdings, Inc., Prayon SA, Lanxess AG, Solvay S.A., Ma’aden-Saudi Arabian Mining Company, OCP Group, Jordan Phosphate Mines Company, Yara International ASA, Innophos Holdings, Inc., and United Phosphorus Limited Potash Corp. of Saskatchewan Inc., among others.