Diammonium phosphate (DAP) is the world's most widely used phosphorus (P) fertilizer. It is manufactured using two critical constituents in the fertilizer industry, and it is notable because of its reasonably high supplement substance and its superior physical characteristics. It has high nutritive content and also befits physical characteristics required for crop nurture. DAP fertilizer is extremely soluble and dissolves rapidly in soil to release ammonium and phosphorus. DAP has various sorts of utilization such as fire retardant, chemical additives, corrosion inhibitors and so on. DAP is also used for a different industrial processes, such as brewing, chemicals manufacturing, metal finishing and many more. DAP also helps in yeast fermentation during wine production.
COVID-19 Impact analysis
- As the COVID-19 pandemic spread across nations, many nations started to feel the full effect of the deadly virus at a time when fertilizer utilization was at a seasonal high, primarily for the northern hemisphere. Indeed, during March, demand for all fertilizers was high and the value of feedstocks and nutrients were steady, and in some cases, firmed. There was added pressure on pricing in April-May, but the fertilizer sector was not affected by the sharp and dramatic price falls seen in related markets such as gas, oil and petrochemicals.
- One of the prominent usages of diammonium phosphate is in food processing such as fermentation and yeast production, which was seen to have mixed affects during the course of the pandemic because some of the products come under essential products, hence there production was not stopped but because of the pandemic it was trimmed down to certain extent and it somewhat affected the market because production was less but it also helped the market to stay stable.
Top Impacting Factors
Various key factors for instance growth in income added with changing weather and soil conditions and rise in dependence on fertilizers because of the shrinking cultivable land and necessity for higher production of crops for the ever-growing population is expected to aid the growing market. Moreover, accelerative demand for firefighting products because of various policies aimed at maintaining environment, health & safety in the commercial, industrial and residential buildings and surroundings is anticipated to boost the market revenue during the forecast period. There is an increase in demand for diammonium phosphate in the agriculture market. Manufacturers are providing more preference to artificial agents as compared to organic in food and agriculture industry in order to attain cost efficiency. In addition, there is a rise in investment for food and agriculture activities in the developing nations which is anticipated to boost the development of the diammonium phosphate market.
- Latin American nations for instance Brazil, Argentina and Mexico are also anticipated to observe significant growth in the DAP market because of growing food requirements added with increasing in agriculture and its allied sectors. U.S., Canada, and the European Union are constraining the use of DAP due to its adverse effect on the soil. Furthermore, these regions are zeroing in on developing environment-friendly alternatives, which is anticipated to hamper DAP market growth. Africa is anticipated to observe high demand for fertilizers because of presence of massive area of land in the region.
- In the Asia-Pacific region, the factors that assist to the market growth are the rapid industrial development, growing investments for the food and agriculture in the developing economies such as India and China. Owing to the rise in the demand of diammonium phosphate from the growing population and the increasing disposable income of the consumers are some of the critical reasons that are aiding to the market growth in the Asia-Pacific region. The other key factor that contributes to the market growth in the Asia-Pacific region is the high reliability of the diammonium phosphate in the agricultural industry.
- The diammonium phosphate market is anticipated to grow in the forecast period due to expanded needs of the growing population along with a rise in disposable income of the consumers. North America is one of world’s biggest producers of Diammonium phosphate showcase and contributing in one of highest market share and is closely followed by Europe.
Key Benefits of the Report
- This study presents the analytical depiction of the diammonium phosphate market 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 diammonium phosphate market share.
- The current market is quantitatively analyzed to highlight the diammonium phosphate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed diammonium phosphate market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the diammonium phosphate market Report
- Who are the leading market players active in the diammonium phosphate market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Diammonium Phosphate (DAP) Market Report Highlights
Key Market Players
Wengfu Chemical, Mississippi Phosphates, Nutrien, Sundia Chemical, Changfeng Chemical, RPC, PhosAgro, OCP Group, Lifosa, Ronghong Chemical, Lanjian Chemical, Shucan Chemical, Wuhan Waking Lion Chemicals, Innophos, SinoFert, Mosaic