Iron Phosphate Market Key Players by 2024: Pioneer Herbal, Imperial Chem Incorporation, Jost Chemical Company, Hefei Asialon Chemical Co. Limited, Aarvee Chemicals, Zhengzhou Ruipu Biological Engineering, Crest Industrial Chemicals, ILVE Chemicals

Asia Pacific iron phosphate market is the fastest growing region and is expected to be valued at over USD 370 million by 2024. This growth can be attributed to the increasing steel manufacturing units specially in the emerging economies including India, China and South Korea. Steel manufacturers are anticipated to implement vertical integration strategy to avoid additional expenses and gain competitive edge. Increasing necessity to prevent further oxidation of the metal will boost product demand across steel & metal industries.

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With the world witnessing a paradigm shift toward the adoption of biodegradable and green fertilizers, ferric phosphate market has emerged to be a hot investment spot for agro-business holders in the recent years. The agricultural industry stands as one of the foremost sectors that contributes to the global economic growth & financial dynamics. However, with the ever-growing worldwide population and tighter food grain supply imbalance, the demand for fertilizers have seen a significant upsurge lately.

This change of outlook has considerably stimulated the commercialization potential of ferric phosphate market demand from the agricultural domain, given the compound’s growing consumption as a raw material in fertilizers for improved crop yield. In consequence, this has had a considerably appreciative impact on iron phosphate industry that is certain to gain tremendous monetary benefits from the fertilizer segment alone. In fact, estimates by Global Market Insights, Inc., claim ferric phosphate industry size from fertilizers to register a 5% CAGR over 2018-2024.

Having recognized the unique blend of characteristics of iron phosphate, many healthcare giants have been putting their efforts to unleash the potential of this compound in treating disorders such as chronic kidney disease (CKD). For the record, the increasing cardiovascular mortality rate has found to be closely linked with hyperphosphatemia, i.e. a low level of phosphate content in the blood. This disorder is quite common in patients suffering from CKD for and ferric based oral phosphate binders are often recommended by the healthcare experts to avert intestinal absorption of dietary phosphates. Several such oral binders have already undergone clinical testing and have received a green signal from regulatory bodies.

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Global Iron Phosphate Market, By Product
• Ferric Pyro Phosphate
o End-use
o Food & Beverage
o Bakery
o Nutritional Supplement
o Dairy
o Others
o Pharma
o Excipients
o Animal Feed
o Fertilizers
o Paint & Coating
o Steel Manufacturing

Ferric pyro phosphate market volume estimated to hold over 53% iron phosphate market volume share in 2017. Rising health conscious consumers coupled with surging demand for nutritional supplements will provide the strong business outlook for manufacturers. Increasing application scope as a key ingredient in pharmaceuticals to treat patients with iron deficiency has boosted the product penetration. In addition, potential usage in fortifying infant cereals and flours will further support the industry growth.

Paint & coatings segment is expected to witness notable growth over the projected timeframe. Rapid infrastructural development coupled with automotive industry expansion is anticipated to propel the iron phosphate market demand. Factors such as lower processing costs, ease of application, flexibility, and excellent paint adhesion are enhancing the product adoption in painting and coating category.

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Iron phosphate market share is competitive in nature owing to the presence of many manufacturing companies across the globe. Key industry players include Pioneer Herbal, Imperial Chem Incorporation, Jost Chemical Company, Hefei Asialon Chemical Co. Limited, Aarvee Chemicals, Zhengzhou Ruipu Biological Engineering, Crest Industrial Chemicals, ILVE Chemicals and Charkit Chemical Corporation. Merger and acquisition, new product launches, technological advancements and production capacity expansion are the major strategies adopted by these participants to strengthen their foothold.

About Global Market Insights

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