Latest Trend and Future Growth of Magnesium Phosphate Market is expected to garner $ 1,720.4 Million by 2026, Globally

According to a study by Research Dive, Magnesium Phosphate Market is expected to reach $1,720.4 million by 2026, registering a CAGR of 4.3% from 2019-2026. Growing utilization from different applications and increasing focus on consumption are some of the magnesium phosphate market drivers.

Magnesium is a vital nutrient for plants, as it supports to improve the photosynthesis process. Due to this, this product is widely used in manufacturing fertilizers. Increasing demand for fertilizers from both developing and developed economies will further enhance the product demand, which in turn increases the global magnesium phosphate market growth. Increasing the focus of various governments on food safety and a healthy lifestyle is creating awareness among the people regarding the benefits of magnesium phosphate intake, and this will further promote the magnesium phosphate market growth. Increasing demand for fertilizer across the globe is generating an important scope for the development in this market.

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A wave of health awareness has struck all the people across the globe. People are now becoming aware that our body not only needs vitamins and minerals but also some good amount of magnesium phosphate to maintain proper bone health and live a healthy life. Magnesium phosphate is nothing but a chemical compound that contains phosphorus and magnesium. This compound is known to offer immense of health benefits and is being increasingly used in several industrial areas today.

1 Benefits of magnesium phosphate

Basically, magnesium phosphate is a salt and has been used as a remedy to cure minor skin diseases on account of its drying and anti-fungal properties. Sometimes, this compound can also be used as a preservative in skin creams, conditioners, and anti-aging treatments. In addition, the use of magnesium phosphate offers significant health benefits such as improved blood pressure, reduced fatigue, protein synthesis, and energy metabolism.
Magnesium phosphate supplements have been found valuable for those who have sustained heart damage due to a heart attack or heart disorder. Being a vital component in bone health, this compound also benefits in controlling the cholesterol levels and might perhaps be used as a treatment for fibromyalgia, reveals a research by MIT. Also, as per FDA documentation, several forms of magnesium phosphate are used as food additives.

2 Application areas of magnesium phosphate

From food and beverages to pharmaceutical and fertilizers the use of magnesium phosphate is progressively gaining importance in many industrial sectors. In 2014, Compass Mineral Manitoba, Inc., had registered a patent for phosphate magnesium zinc fertilizer. This patent was about a fertilizer that provided starter fertilizers a substitute to traditional phosphorous applications. This fertilizer claimed the rapid and early growth of the plant.
The product was made of synergistic mixture of: from about 0.5 to about 1 part Mg: from about 2.4 to about 2.8 parts P2O5: from about 2.8 parts Zn. In addition, during the same year, there was another patent registered which presented the invention related to a process for making slow release phosphate fertilizer. More particularly, the invention described a process for making FCMP from "Low grade rock phosphate ore (LGO)" available from Jhamarkotra mines of RSMM Ltd., Udaipur and serpentinite.

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Moreover, magnesium phosphate has been used as an active element in numerous pharmaceutical industries for manufacturing of various products such as antacids, laxatives, and magnesium supplements. On the other hand, several companies in the animal feed industry are also using magnesium phosphate to their products as it is an essential nutrient in animal diets to safeguard optimal growth, improve gut functionality, fertility, and support bone development. TIMAB Magnesium is the one of the leading companies in Magnesium based animal feed. With continuous support from its experts and Groupe Roullier R & D, TIMAB Magnesium is always in hunt for new magnesium-based animal feed products.

Magnesium phosphate is also used in the treatment of waste water. Waste water contains large amount of phosphorus which results in eutrophication of water. Magnesium ammonium phosphate (MAP) crystallization is used to remove and recover phosphorus from wastewater, which can not only avoid the eutrophication, but also comprehend the sustainable use of phosphorus resource. Until today, the mechanism of MAP crystallization is introduced, the influencing factors of crystallization are evaluated, and applications of MAP crystallization are studied. Although, the study of MAP crystallization is still in its initial stage and needs further research.

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3 Future of magnesium phosphate market
Global magnesium phosphate market is quite competitive in nature. Several applications of magnesium phosphate in medicines, food & beverages, fertilizers and feed application are thrusting the growth of magnesium phosphate market.

Since centuries, bone replacement is being practiced using several naturally occurring ingredients, but had hardly been successful till the late 19th century. Today, with several research and development in the medical field, many different bone substitutes are discovered. They are either obtained from biological products such as hydroxyapatite, platelet-rich plasma, demineralized bone matrix, adjunction of growth factors (such as bone morphogenetic protein) or synthetic such as tri-calcium phosphate ceramics, calcium sulfate, bioactive glasses, or polymer-based substitutes. Growth in the use of magnesium phosphate as bone graft substitute owing to its impressive mechanical properties, biocompatibility and biodegradability is expected to boost the magnesium phosphate market in coming years.

4 Regional Growth Factors:

North America market is expected to reach $234.6 million by 2026, at a CAGR of 3.2%, owing to the increase in product consumption in biomedical applications. In 2018, Asia-Pacific magnesium phosphate market size accounted for a share of over 40%, and registered a growth rate of 5.3% during forecast period. Asia Pacific magnesium phosphate market will surpass $785.5 million by 2026. China and India are the key contributors to growth of the market, additionally, expanding research and development activities will further help to increase the regional market size over the upcoming years.

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Rising product demand for DNA synthesis, glycolysis, oxidative phosphorylation, bone structural development and energy production are also expected to drive the magnesium phosphate market in the coming years. This can be backed by statistics offered by a research report from Research Dive. The report says that, the global magnesium phosphate market is expected to rise with a growth rate of 4.3% from 2019 to 2026. The report also highlights the top players operating in this market. Some of them are Nikunj Chemicals, Hindustan Phosphate, Anmol Chemicals Group, Celtic Chemicals, American Elements, Innophos Holdings, Manus Aktteva Biopharma, Jost Chemicals, The Mosaic Company, and Hap Seng.
Additionally, the Rockville, a Md.-based research firm stated that the focus on whole foods and natural food sources can lead to product formulations that consists of foods naturally rich in magnesium. The report further stated that dairy food supplements, cereals, products, dairy substitutes, bread, baby food, bars and beverages will be at the frontline of the trend.

5 Leading Key Players in Magnesium Phosphate Market:

oNikunj Chemicals
oHindustan Phosphate
oAnmol Chemicals Group,
oCeltic Chemicals
oAmerican Elements
oInnophos Holdings
oManus Aktteva Biopharma
oJost Chemicals
oThe Mosaic Company
oHap Seng

Recent developments in magnesium phosphate market include merger & acquisition, research & development (R&D) investments and supply deals, manufacturers are expected to gain greater market share.

On the other hand, rising focus of the government on food safety and healthy living along with consistent dietary consumptions for magnesium phosphate and other essential nutrients are sure to fuel the growth of magnesium phosphate market. Hence, it is clear that be it food industries, animal feed manufacturers or pharma companies the applications of magnesium phosphate are rising day by day and are sure to thrust the market growth in the near future.

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This release was published on openPR.