Stringent regulatory norms regarding the use of inorganic fertilizers are hindering the growth of the ammonium phosphate market in the region. The primary focus of manufacturers in these two regions is on the use of organic fertilizers. The ammonium phosphate market in Europe and North America is projected to witness relatively moderate growth during the forecast period.
The rising population in Asia Pacific has led to an upheaval in demand for fertilizers in the region. The majority of the demand for ammonium phosphate will be generated from countries such as India and China. Moreover, the proliferation of fertilizer plants in the region is supplementing the growth of the ammonium phosphate market.
The projected growth rate of the ammonium phosphate market is approximately 3.3% over the course of the forecast period (2019-2029). The demand from the fertilizers segment remains steady and even surges in emerging economies. Other end-use industries such as electronics and optics are complementing the growth of the ammonium phosphate market.
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Key Takeaways of Ammonium Phosphate Market Study
- The fertilizers industry accounts for substantial ammonium phosphate demand.
- The rising uptake of ammonium phosphate in fire extinguishers is propelling the market growth.
- Gains in the ammonium phosphate market to remain consolidated in the Asia Pacific.
- Europe and North America’s ammonium phosphate market will witness modest growth through 2029.
- Demand for organic fertilizers will limit the growth of the 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.
Demand for Mono-ammonium Phosphate to Remain Rampant in Fertilizers
Mono-ammonium Phosphate (MAP) is a chief component of granular fertilizer. The pH regulation and water solubility are the two most sought-after attributes of MAP. Farmers continue to prefer ammonium phosphate for the sustained and healthy growth of plants. The augmented demand for MAP in high-pH soils is particularly fuelling the market.
In suspension fertilizers, ammonium phosphate is used in powdered form. Moreover, MAP has good handling and storage properties which are boosting its demand among consumers. However, the ongoing debate over the potential environmental impact of ammonium phosphate based fertilizers is limiting the market growth.
Asia Pacific Acquires 32.6% Revenue Share in Ammonium Phosphate Market
Demand upsurge for fertilizers owing to the increasing population is boosting the ammonium phosphate market in the Asia Pacific. The predominant markets for ammonium phosphate are China and India. On that premise, Asia Pacific constitutes approximately 32.6% revenue share in the ammonium phosphate market.
On the other hand, consumers in Europe and North America have a growing inclination toward 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 the regional ammonium phosphate market.
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Geographic Expansion Remains the Chief Strategic Tenet of Global Players
The competitive landscape of the ammonium phosphate market is consolidated in nature at the global level. However, in certain regions, it remains fragmented with the proliferation of SMEs. Key manufacturers featured in this study include, but are not limited to, OCP SA, Wengfu Group, Yara International ASA, Solvay S.A., Coromandel International Ltd., Lanxess AG, Nutrien Ltd., Jordan Phosphate Mines Company, Haifa Group.
Premier companies in the ammonium phosphate market are focused on geographic and operational expansion for a greater market foothold. However, the demand for inorganic fertilizers continues to stagnate in developed economies. Manufacturers thus need to divert their resources toward the Asia Pacific market where the use of ammonium phosphate-based fertilizers is still prevalent.
Ammonium Phosphate Market: Segmentation
The global ammonium phosphate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
Product Type
- Mono-ammonium Phosphate (MAP)
- Di-ammonium Phosphate (DAP)
- Ammonium Polyphosphate
Application
- Fertilizers
- Fire Extinguishers
- Food & Beverages
- Water Treatment Chemicals
- Detergents & Soaps
More about the Report
FMI’s study offers an in-depth market forecast and analysis of 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).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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