VALLEY COTTAGE — The global ammonium phosphate market, surpassed US$ 40 Bn in the year 2018, will grow at a moderate pace through 2019-2029. According to the latest report of Future Market Insights (FMI), growth in fire control applications across different residential and commercial buildings is primarily boosting the growth of ammonium phosphate market.
“Manufacturers in the market are focused to provide to abide by government regulations and replace the inorganic ammonium phosphate fertilizers with their organic versions. Market players are collaborating to expand their operational capacity,” reports FMI.
Ammonium Phosphate Market: Key Research Findings
- Fire retardant applications will account for the enhanced adoption rate of ammonium phosphate through 2019-2029.
- Fertilizers’ application will generate a plethora of opportunities for the manufacturers in the market.
- Mono-ammonium phosphate will witness a rapid surge in demand for its use in granular fertilizers.
- Asia Pacific will continue to lead the global market by the end of 2029; North America to exhibit fast-paced growth.
Ammonium Phosphate Market: Key Growth Drivers
- Rise in the application of ammonium phosphate as an acidity regulator and firming agent is driving the growth in the market.
- The high demand of monobasic ammonium phosphate in fire extinguishers has a positive influence on market growth.
- Increasing preference for mono-ammonium phosphate for its excellent storage and handling properties is pushing the adoption rate of ammonium phosphate ahead.
- Augmenting consumption in developing economies such as India and China will supplement the progress of the ammonium phosphate market.
- Joint ventures are boosting the capacity of the ammonium phosphate market.
Ammonium Phosphate Market: Key Impediments
- Stringent regulations regarding the use of inorganic fertilizers are inversely affecting the proliferation of ammonium phosphate in the market.
- Growing awareness about the environmental impact of ammonium phosphate-containing fertilizers is hampering the smooth market growth.
Ammonium Phosphate Market: Competition Landscape
Market players are expanding their revenues by spreading their presence across different applications of ammonium phosphate. Acknowledging the growing awareness regarding the environment, manufacturers have shifted their focus towards organic fertilizers. They are exploring revenue opportunities in growing markets of North America and Europe. A joint venture has turned out to be a major growth strategy of established players, expanding their global footprint.
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About the Report
This FMI report provides regional and segmental analysis on the evolving trends in the market which impact the ammonium phosphate market. The report further provides important insights on the ammonium phosphate market based on product type (mono-ammonium phosphate, ammonium polyphosphate, and di-ammonium phosphate), application (fertilizers, food & beverages, detergent & soaps, fire extinguisher, and water treatment chemicals) in five prominent geographic regions (North America, Latin America, Europe, Asia Pacific, and MEA).
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