Magnesium Phosphate Market Robust pace of Industry during 2018 - 2028
The global magnesium phosphate market is estimated to witness growth due to various factors. Rising utilization in pharmaceuticals, food and beverages, fertilizers, and feed are expected to accelerate the demand in the global magnesium phosphate market. Advancement in biomedical sector to treat bone ailments including arthrodesis and osteoporosis has upsurged the product usage in healthcare industry. Furthermore, potential applications in the process of bone grafting substitute due to its biocompatibility, high strength, and biodegradability are to further pump the demand globally. In addition, rising product usage in nanoparticle design in drug delivery vehicles and composite frameworks production are to furl the demand in magnesium phosphate market.
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The various kinds of products in the magnesium phosphate market are di-magnesium phosphate, monomagnesium phosphate, and trimagnesium phosphate. Among these, the dimagnesium phosphate segment is witnessing strong demand due to its utilization in bakery applications as a leavening agent to bring fluffiness to the dough. They are being used as a stabilizing agents in met products as well by sustain the water content in it. Besides, dimagnesium phosphate is also in demand in cheese sector for it better touch to pH value of the final product and spreadability.
The food and beverage sector is a key factor driving the demand in the global magnesium phosphate market. Magnesium phosphate is used in variety of applications including, food additives, leavening agents, anticaking agents, acidity regulator, and so forth. However, lack of sufficient raw materials is the major threat possessed by the global magnesium phosphate market in the span of forthcoming years.
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Global Magnesium Phosphate Market: Overview
The different types of products in the global magnesium phosphate market are monomagnesium phosphate, di-magnesium phosphate, and trimagnesium phosphate. Of them, the dimagnesium phosphate is seeing solid demand because of its usage in different bakery applications as a leavening agent to enhance the rise and fluffiness of the dough. They are also finding increasing application in stabilizing meat products by retaining water content. Further demand for dimagnesium phosphate is also being generated by the cheese industry for it is used to better the final product’s pH balance and its spreadability.
The global magnesium phosphate market is also being stoked the rising demand for trimagnesium phosphate. This is because of its rising usage in dietary and nutrient supplements.
Besides surging demand for products, thrust on product development by investing in research and development is boosting the global magnesium phosphate market. Growth in mergers and acquisitions and partnerships for supply are also enabling the market to grow.
Global Magnesium Phosphate Market: Drivers and Restraints
Providing a solid impetus to the global magnesium phosphate market is the end use industries such as fertilizers, pharmaceuticals, feed applications, and food and beverages. For example, progress in biomedical sector to treat skeletal disorders such as osteoporosis and arthrodesis has resulted in uptake of magnesium phosphate in the healthcare sector. The product acts as a bone graft substitute owing to its effective mechanical properties, biocompatibility, and biodegradability.
Apart from that, the food and beverage industry is a major driver of demand in the global magnesium phosphate market. Magnesium phosphate’s wide ranging usage as leavening agents, acidity regulator, food additives, and anticaking agents is mainly serving to promote the market. It has significant health benefits too. For example, it serves to regulate enzyme activities, improve production of energy, and maintain mineral balance. It also brings down chances of hypertension, heart diseases, and diabetes.
Necessity for mineral enrichment and maintaining the phosphorus content in soil is also having a positive impact on the magnesium phosphate market.
Posing a challenge to the global magnesium phosphate market is the insufficiency of raw materials owing to uneven distribution of phosphoric rock reserves. In the face of rising demand, this is proving to be a major hurdle for the market trying to grow revenue. Another factor hampering global magnesium market growth is the development of substitutes because of the progress in material science.
Global Magnesium Phosphate Market: Trends and Opportunities
Buoyed by demand from the different end use industries of fertilizers, animal feed, pharmaceuticals, and drinking water treatment, the global magnesium phosphate market is set to rise.
Global Magnesium Phosphate Market: Regional Analysis
From a geographical standpoint, Asia Pacific magnesium phosphate market is predicted to rise the most in the next couple of months owing to helpful socio-economic conditions. India and China, two large developing nations with massive population – they are home to about two-third of the people in the world – are particularly lucrative markets in the region. In India, for example, rising focus of farmers’ on training by governments and independent organizations is serving to up demand for fertilizers. This is proving to be a boon for the magnesium phosphate market in the region.
North America magnesium phosphate market is another prominent one because of the increased spends on dental care and orthopaedics – result of a growing geriatric population in the region.
Global Magnesium Phosphate Market: Competitive Landscape
Some of the key players in the global magnesium phosphate market are Refractory Minerals Company, Jostchemical, Triveni Chemicals, Innophos, and KRONOX Lab Science and Celtic Chemicals. Overall the global market is highly fragmented on account of the presence of both regional and well-established players.
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