Potassium Dihydrogen Phosphate Market Headed for Growth and Global Expansion by 2024

Potassium dihydrogen phosphate, also termed as Potassium phosphate monobasic is water soluble crystalline white powder obtained by treating potassium carbonate with phosphoric acid. Its molecular formula is KH2PO4. One of the prominent areas of application for potassium dihydrogen phosphate is use as agrochemical - fertilizer wherein it acts as a source of vital elements such as potassium and phosphorus. Some of the crops that are commonly treated with potassium dihydrogen phosphate based fertilizers include cotton, tobacco, corn, soy bean, and vegetables among others.

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It also finds application in K and P compound fertilizers that find a wide application across key geographies. Its relatively higher purity and its solubility in water render it ideal for use on a variety of crops across growth cycles. Besides its use in agrochemicals related applications, potassium dihydrogen phosphate finds variety of applications in food & beverages industry. It is used as a buffer, chelating agent, yeast active agent, antioxidant & emulsifying agent and stabilizer, among others. Potassium dihydrogen phosphate helps stabilize, regulate the acidity and moisture in food. Owing to its optical properties, potassium dihydrogen phosphate crystals also finds application in opto-electronics. They are used as commercial non-linear optics materials because of strong UV Transmission ability.

Global Potassium dihydrogen phosphate market can be segmented on the basis end-use industry, application, grades & region,,On the basis of end-use industry, global potassium dihydrogen phosphate market can be segmented as follows:,, Agrochemical, Food & beverages, Chemicals, Opto-Electronics, Others,,On the basis of application industry, global potassium dihydrogen phosphate market can be segmented as:,, Fungicide, Food additive, Photo-optic, Nutrition, Others,,Moreover, depending on the grades, global potassium dihydrogen phosphate market can be segmented as:,, Technical Grade, Food Grade

Potassium dihydrogen phosphate Market: Dynamics

A source of potassium and phosphorus is essential for a variety of crops across their growth cycles especially during the initial phase. Relatively lower acidity and versatility as regards application methods and growth cycles are some of the factors that are likely to drive growth of global potassium dihydrogen phosphate market during forecast period. Moreover, the ability of potassium dihydrogen phosphate based fertilizers to be used along with some of the other conventionally used fertilizers is another factor that is expected to drive the growth in demand over the forecast period.

Also, increasing demand from food industry is expected to help propel global potassium dihydrogen phosphate market during forecast period. Increasing demand for processed and preserved foods is expected to fuel the demand for food additive such as potassium dihydrogen phosphate over forecast period. Use of potassium phosphate in treatment of dietary disorders associated with low phosphate level is expected to further fuel growth in consumption of potassium dihydrogen phosphate during the same period. On the other hand, relatively higher price as compared to that of some of the conventionally used fertilizers is in turn likely to act as an impediment to growth of global potassium dihydrogen phosphate market over forecast period.

Global Potassium dihydrogen phosphate market is divided into seven key regions namely Asia-Pacific, Western Europe, Eastern Europe, Middle East & Africa, Japan, North America and Latin America. Consumption of dihydrogen phosphate in Asia-Pacific region, spearheaded by countries such as China and India, is expected to exhibit relatively faster growth over the forecast period as compared to that in North America and Europe. Efforts towards improving quality and yield are expected to gain momentum in the region.

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Potassium dihydrogen phosphate Market: Market Players

Some of the companies that operate in global Potassium dihydrogen phosphate Market include Haifa Group, Guizhou Lvyin Biotech Co., Ltd., Sichuan Shucan Chemical Co., Ltd., Annexe Chem Pvt. Ltd., Jena Bioscience GmbH, Xuzhou Tianchang Chemical Co., Ltd., Gamdan Optics., Changsha Green Mountain Chemical Co., Ltd. Wengfu Dazhou Chemical Co., Ltd., among others.

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This release was published on openPR.