Global ammonium phosphate market is expected to witness substantial growth over the forecast period owing to its increasing use in animal feed and industrial applications. Growing demand for fertilizers across agriculture-driven economies of the world including India is expected to have a positive impact towards market growth. It is primarily used for manufacturing fertilizers. Global demand for fertilizers is expected to reach over 200 million tons in 2015 growing at a CAGR of 4.5%, which is expected to propel the product demand over the forecast period.
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Rising investment by major agriculture-driven economies, such as India and Brazil, is expected to result in a substantial demand for the product over the forecast period. In addition, increasing promotion of FDI in the agricultural sector is expected to result in encouraging the use of latest technologies by improving knowledge of farmers regarding effective utilization of fertilizers. These factors are likely to augment demand over the forecast period.
Growing population coupled with increasing demand for food and food products is expected to boost agriculture industry growth, which in turn is expected to drive ammonium phosphate demand across the globe over the next seven years.
Ammonium phosphate is used as additive to animal feed and finds use in various industries such as metal finishing chemicals, water treatment chemicals, food & beverage, and detergent & soaps. Growth of these end-use industries is expected to drive growth.
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Monoammonium phosphate (MAP) and diammonium phosphate (DAP) are the most commonly used products. DAP accounted for the majority market share in 2014 owing to its widespread use in fertilizers. It helps in regulating pH levels in soil, therebye improving the quality of the soil and enhancing crop yield. MAP is widely used in the food & beverage industry as a food additive and emulsifier.
Fertilizer, food & beverage, flame retardant, and water treatment chemicals are some of the major applications of ammonium phosphate. Fertilizer application accounted for the majority of the market share in 2014 as they are easily soluble and missible. Addition of the chemical helps in meeting the requirements of phosphate and ammonia of soil. DAP, in particular, is 90% soluble which results in higher absorption by the crop plant.
Other applications including food & beverage and flame retardant accounted for a small volume percent of the overall market. However, these end-use segments are likely to witness significant gains over the forecast period on account of their increasing demand. Growing demand for flame retardants on account of rising awareness regarding safety as well as implementation of stringent regulations by regulatory bodies.
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