The global ammonium phosphate market is likely to grow from $35,696.3 million in 2015 to $45,265.4 million by 2022. Some of the major factors driving the growth of the global ammonium phosphate market include growing agriculture industry in the emerging economies, increasing demand for water treatment and increasing use in industrial applications.
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As per the findings of research, the fertilizer industry has been globally the largest applications segment of the ammonium phosphate market. Flame retardant is expected to be the fastest growing application segment in the global market for ammonium phosphate during the forecast period.
Ammonium phosphate is used as a source for nitrogen and phosphorus for proper growth of the crops. Ammonium phosphate helps deliver nitrogen and phosphorus nutrient to the soil in an absorbable form for the plant roots. Owing to the growing agricultural industry in emerging economies and increasing demand for water treatment, the market for ammonium phosphate is gaining traction.
Geographically, Asia-Pacific has been the largest market for ammonium phosphate, where the China has been the largest contributor to the regional market. India, Australia and Thailand are considered among emerging markets for ammonium phosphate.
The increasing demand for fertilizers and increasing investment in agricultural industry are some of the major growth driving forces in the Asia-Pacific ammonium phosphate market in countries such as India and China.
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Some of the key players in the global market for ammonium phosphate include Lanxess AG, Jordan Phosphate Mines Co. Plc, EuroChem Group AG, Solvay S.A., Saudi Arabian Mining Company (Ma’aden), Prayon SA, Italmatch Chemicals S.p.A, Israel Chemicals Ltd., United Phosphorus Limited and Potash Corp. of Saskatchewan Inc.
GLOBAL AMMONIUM PHOSPHATE MARKET SEGMENTATION
- Diammonium phosphate (DAP)
- Monoammonium phosphate (MAP)
- Ammonium polyphosphate (APP)
- Flame retardant
- Water treatment chemicals
- Food and beverages
- Rest of Asia-Pacific
- North America
- Rest of North America
- South America
- Rest of South America
- Rest of Europe
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of MEA
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