Ammonium Phosphate MarketAnalysis :
Ammonium phosphate is an inorganic salt of ammonium and phosphoric acid, with chemical formula (NH4)3PO4.It is widely used to deliver nutrients, including nitrogen and phosphorous to yield highamount of crops, to fulfil the need of huge population, and often it is used as a fertilizer and also used as feedstock in animal feed. Its applications can also be seen in consumer industries for water treatment, cleansers, soaps, or as a disinfectant. It provides high water solubility, high dissolution signals, and also helps in regulating soil pH levels, thereby improving soil quality leading to improved crop yield that will stimulate the demand of ammonium phosphate. Ammonium phosphate is also used in fire extinguishers, and exhibits properties such as acidity administrator and firming agent. it is found in forms such as dry powder and pellet crystal.
- The global market for ammonium phosphateis severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of ammonium phosphate, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: Trends, Key drivers, restraints, impacting factors
The growing demand for fertilizer for all agriculture-driven economies, including India has led to a positive impact on market growth. Thereis a growing need for fire extinguishers due to increased awareness about safety. Development of the agriculture sector in emerging countries is expected toboost the market growth. The growing demand from food and beverage industry due to increasing population is accelerating the growth of agriculture sector, leading to growth of market for ammonia phosphate.
Its increasing need as a yeast ingredient in making and burning and refining sugar is likely to accelerate global market growth. In addition, technological advancements in the application of effective fertilizer is expected to create potential opportunities for market players.
However, toxic effects of excessive use of fertilizers in agricultural activities, containing ammonium phosphate is likely to hamper the market growth.
North America’s demand is expected to increase due to ease in government reforms on the use of fertilizers. China is the major contributor to the region due to increased demand for safe drinking water and favorable government efforts.
Key benefits of the report:
- This study presents the analytical depiction of the global ammonium phosphate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global ammonium phosphate market share.
- The current market is quantitatively analyzed to highlight the global ammonium phosphate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global ammonium phosphate market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the ammonium phosphate market research report:
- Which are the leading players active in the ammonium phosphate market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Ammonium Phosphate Market Report Highlights
By End-use Industry
Key Market Players
The Mosaic Company, Forbes Pharmaceuticals, Israel Chemicals Ltd., United Phosphorus Limited Potash Corp., Hubei Xingfa Chemicals Group Co., Jordan Phosphate Mines Company, Eurochem MCC, Solvay S.A., CF Industries Holdings Inc., Italmatch Chemicals S.p.A