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Magnesium Phosphate Market Size, Share, Growth, Trends and Forecast 2030
Magnesium Phosphate Market
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According to the report published by Allied Market Research, the Magnesium Phosphate Market by Form (Monomagnesium Phosphate, Dimagnesium Phosphate, Trimagnesium Phosphate), by Application (Fertilizer, Animal Feed, Detergent, Food, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Leading players of the global magnesium phosphate market analyzed in the research include Jost Chemical Co, Innophos Holdings, Inc., Triveni Chemicals, Refractory Minerals, Celtic Chemicals Ltd, KRONOX Lab Sciences Ltd., Anmol Chemicals, Nikunj Chemicals, Hap Seng, and American Elements.
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The magnesium phosphate market experiences growth propelled by its diverse applications in detergents, animal feed, food, fertilizer, water treatment, and construction. Notably, the use of phosphate feed additives in animal feed is expected to witness substantial growth. This is attributed to the escalating meat consumption, a growing demand for effective antibiotic replacements, their role in disease prevention, and the increasing need to enhance livestock and poultry performance. These factors collectively create lucrative opportunities for the expansion of the market.
The report offers detailed segmentation of the global magnesium phosphate industry based form, application, and region.
Based on form, the dimagnesium phosphate segment held the highest market share in 2021, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 4.5% from 2022 to 2030.
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Based on application, the fertilizer segment held the largest market share in 2021, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.6% from 2022 to 2030.
Based on region, Asia-Pacific is contributed to the highest share in terms of revenue in 2021, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 4.8% during the forecast period. Other regions analyzed in the report are North America, Europe, and LAMEA.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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