Rise in Agriculture Sector across The World Will Drive The Demand Of Global Ammonium Phosphate Market
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High demand of flame retardants to drive the global ammonium phosphate market
Key drivers of the global ammonium phosphate market are growing adoption of fertilizers in agriculture dominated countries, high demand of flame retardants, and several industrial applications of ammonium phosphates. Though, stringent rules against the usage of chemical fertilizers may hamper the growth of market.
Global ammonium phosphate market has been bifurcated into type, application, and geography. Type segment comprises mono-ammonium phosphate (MAP), diammonium phosphate (DAP), and ammonium polyphosphate. Application segment includes ammonium phosphate fertilizer, flame retardant, food & beverages, water treatment chemicals and other applications. North America, Europe, Asia-Pacific and Rest of the World (RoW) are key geographical regions in the market. North America comprises US, Canada, and Mexico.
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Diammonium phosphate (DAP) dominated the type segment with highest market share
Di-ammonium phosphate (DAP) held the largest market share in 2016, and expected to remain the largest over the forecast period 2016 – 2024, driven by the robust industrial development, rising investments for the food and agriculture in the developing regions such as India and China.
Ammonium phosphate fertilizer held the highest market share in the application segment
Fertilizer accounted for the largest market share in 2016, and is expected to continue its dominance during the forecast period 2016 – 2024,
Asia-Pacific is expected to dominate the global market with the highest market share over the forecast period
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, driven by increasing ammonium phosphate demand due to efforts associated to improving agriculture sector in South korea, Philippines, and Russia, among others.
The major players operating in the global ammonium phosphate market are Innophos Holdings, Inc., CF Industries Holdings, Inc., Lanxess AG, Prayon SA, Solvay S.A., Ma’aden-Saudi Arabian Mining Company, Jordan Phosphate Mines Company, OCP Group, Yara International ASA, and United Phosphorus Limited Potash Corp. of Saskatchewan Inc., among others.
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Scope of the Global Ammonium Phosphate Market
• Mono-Ammonium Phosphate (MAP)
• Di-Ammonium Phosphate (DAP)
• Ammonium Polyphosphate
• Flame Retardant
• Water Treatment Chemicals
• Food & Beverages
• Other Applications
• North America
o Rest of Europe
o Rest of Asia-Pacific
o South America
o Middle East
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