The global ammonium phosphate market was valued at $35,696.3 million in 2015, and it is expected to grow at a CAGR of 3.6% during 2016 – 2022. The major factors driving the growth of the market globally include its increasing use in animal feed and industrial applications, and growing agriculture industry in the emerging nations. Asia-Pacific is anticipated to create significant growth opportunities for the growth of the global ammonium phosphate market. The significant growth of the end-user industries, such as food and beverages, and agriculture in the region is catalyzing the demand of ammonium phosphate. The continuous investment in these industries is also expected to drive the demand for ammonium phosphate in Asia-Pacific. The growing demand for food and food products, along with increasing population is expected to augment the growth of the agricultural industry, which in turn is expected to boost the growth of the ammonium phosphate market during the forecast period.
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Based on product type, the global ammonium phosphate market is segmented into monoammonium phosphate (MAP), diammonium phosphate (DAP) and ammonium polyphosphate. The diammonium phosphate (DAP) segment accounted for the largest market share among the various products in the global ammonium phosphate market in 2015. The major factors driving the growth of the DAP segment is its widespread use in fertilizers. DAP commonly helps in regulating pH levels in soil, thereby enhancing the quality of soil and boosting crop yield. MAP is mostly utilized as a food additive and emulsifier in the food and beverages industry.
Based on application, the global ammonium phosphate market has been segmented into food and beverages, fertilizer, flame retardant, water treatment chemicals, and others. The fertilizer segment accounted for the largest market share among the various applications in the global ammonium phosphate market in 2015. On the other hand, the food and beverage segment, and the flame retardant segment accounted for a small volume percent in the application segment in the global ammonium phosphate market. However, the food and beverage segment is expected to witness significant gains during the forecast period, owing to their increasing demand globally. The flame retardant segment is also expected to witness significant growth during the forecast period, owing to increasing awareness regarding safety, as well as implementation of stringent regulations by regulatory bodies.
The information and data in the publication “Global Ammonium Phosphate Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
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GLOBAL AMMONIUM PHOSPHATE MARKET SEGMENTATION
- Monoammonium phosphate (MAP)
- Diammonium phosphate (DAP)
- Ammonium polyphosphate
- Flame retardant
- Water treatment chemicals
- Food and beverages
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